secwatch.observer — SEC 8-K summary
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Issuer:     Belpointe PREP, LLC (OZ)
CIK:        0001807046
Form:       8-K
Filed at:   2024-07-05T23:59:59+00:00
Accession:  0001493152-24-026395
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Belpointe subsidiary secures $104M construction loan for Viv project in St. Pete
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- Loan up to $104M with interest at 3.8% + 1-month SOFR, secured by first-lien mortgage on Viv property.
- Initial maturity June 28, 2027; two one-year extension options available.
- Proceeds fund continued development and leasing costs of Viv at 1000 1st Avenue North, St. Petersburg.
- Company provided debt service, completion, and non-recourse carveout guarantees to lenders.
- Covenants require net worth ≥$110M and liquidity ≥$10M during loan term.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1807046/000149315224026395/0001493152-24-026395-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1807046/000149315224026395/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-026395

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