{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-016912","form_type":"8-K","ticker":"OZ","cik":"0001807046","company_name":"Belpointe PREP, LLC","filed_at":"2025-10-03T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.528765+00:00","generated_at":"2026-05-17T04:48:28.304778+00:00","sec_items":["1.01","2.03"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Belpointe PREP enters $163.3M mortgage and $40.8M mezzanine loans for Sarasota project","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-016912","json":"https://secwatch.observer/filing/0001493152-25-016912.json","markdown":"https://secwatch.observer/filing/0001493152-25-016912.md","text":"https://secwatch.observer/filing/0001493152-25-016912.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1807046/000149315225016912/0001493152-25-016912-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1807046/000149315225016912/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T04:48:28.304778+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"70166c05dcf2f7f8bbc18c68abc90034386d16e0","claim":"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.","evidence_excerpt":"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”)","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1807046/000149315225016912/0001493152-25-016912-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"mortgage"},{"label":"Principal","value":"up to $163.3 million"},{"label":"Counterparty","value":"SM Finance III LLC"},{"label":"Rate","value":"Term SOFR plus 1.5%"},{"label":"Maturity","value":"October 11, 2027"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"751ee0cfa8c6d2da3b9d2a35635b33a4dc7a3c4d","claim":"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.","evidence_excerpt":"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”)","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1807046/000149315225016912/0001493152-25-016912-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"up to $40.8 million"},{"label":"Counterparty","value":"SM Finance III LLC"},{"label":"Rate","value":"Term SOFR plus 6.75%"},{"label":"Maturity","value":"October 11, 2027"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}