Belpointe PREP, LLC (OZ): debt financing — Belpointe PREP enters $163.3M mortgage and $40.8M mezzanine loans for Sarasota project

Belpointe PREP, LLC

Mortgage loan up to $163.3M; initial advance $138.3M; SOFR + 1.5% interest.
$114.1M of mortgage used to refinance existing construction loan with Bank OZK.
Mezzanine loan up to $40.8M; SOFR + 6.75% interest; $34.6M plus $17.1M from mortgage to refinance Southern Realty Trust Holdings mezzanine.
Both loans mature Oct 11, 2027, with two one-year extension options.
Proceeds also for leasing non-residential space, capital expenditures, and debt service.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Belpointe PREP, LLC incurred mortgage of up to $163.3 million with SM Finance III LLC at Term SOFR plus 1.5% maturing October 11, 2027.

Instrument: mortgage
Principal: up to $163.3 million
Counterparty: SM Finance III LLC
Rate: Term SOFR plus 1.5%
Maturity: October 11, 2027
Event: incurrence

Exact text from the filing

entered into a variable-rate mortgage loan agreement (the “1991 Main Mortgage Loan Agreement”) with SM Finance III LLC, a Delaware limited liability company (the “Lender”), for up to $163.3 million in principal amount (the “1991 Main Mortgage Loan”)

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Belpointe PREP, LLC incurred loan of up to $40.8 million with SM Finance III LLC at Term SOFR plus 6.75% maturing October 11, 2027.

Instrument: loan
Principal: up to $40.8 million
Counterparty: SM Finance III LLC
Rate: Term SOFR plus 6.75%
Maturity: October 11, 2027
Event: incurrence

Exact text from the filing

entered into a mezzanine loan agreement (the “1991 Main Mezzanine Loan Agreement”) with the Lender, for up to $40.8 million in principal amount (the “1991 Main Mezzanine Loan”)

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315 debt financings filed in the last 30 days. Browse all debt financings →

Belpointe PREP, LLC filing history →

Source: SEC EDGAR

accession 0001493152-25-016912

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