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Greenwich, CT, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Belpointe PREP, LLC (NYSE American: OZ) (“Belpointe OZ”), a publicly traded qualified opportunity fund, today announced its unaudited quarterly net asset value (“NAV”) as of December 31, 2023 of $365.43 million or $100.88 per Class A unit.
“Despite current challenges and uncertainties in the commercial real estate market, including higher interest rates, tighter lending conditions and increased construction costs, we are pleased to announce that our NAV remains relatively stable” said Brandon Lacoff, CEO of Belpointe OZ.
NAV is not a measure used under accounting principles generally accepted in the United States of America (“U.S. GAAP”), and the valuations of and certain adjustments made to our assets and liabilities used in the determination of NAV will differ from U.S. GAAP. You should not consider NAV to be equivalent to members’ capital or any other U.S. GAAP measure. For information on how Belpointe OZ calculates NAV, see the “Net Asset Value Calculation and Valuation Policies” section of our prospectus
In calculating its NAV, Belpointe OZ adjusted for the transaction costs and equity premium associated with its acquisition of Belpointe REIT, Inc., however, did not adjust for gains or distributions distributable to the manager pursuant to the manager’s Class B units based on the conclusion that such amounts would be immaterial.
The fair value of Belpointe OZ’s real estate assets may have been impacted after December 31, 2023 by circumstances and events that are as of yet unknown. Past performance is not necessarily indicative of future results. All investments involve risk including the loss of principal.
About Belpointe OZ
Belpointe OZ is a publicly traded qualified opportunity fund, listed on NYSE American under the symbol “OZ.” To date, Belpointe OZ has over 2,500 units in its development pipeline throughout four cities, representing an approximate total project cost of over $1.3 billion.
Belpointe OZ has filed two registration statements (including a combined prospectus) with the U.S. Securities and Exchange Commission (“SEC”) for the offer and sale of up to an aggregate of $1,500,000,000 of Class A units representing limited liability interests in Belpointe OZ (the “Class A units”). Before you invest, you should read Belpointe OZ’s most recent prospectus and the other documents that it has filed with the SEC for more complete information about Belpointe OZ and the offering. Investing in Belpointe OZ’s Class A units involves a high degree of risk, including a complete loss of investment. Prior to making an investment decision, you should carefully consider Belpointe OZ’s investment objectives and strategy, risk factors, fees and expenses and any tax consequences that may results from an investment in Belpointe OZ’s Class A units. To view Belpointe OZ’s most recent prospectus containing this and other important information visit sec.gov or investors.belpointeoz.com. Alternatively, you may request Belpointe OZ send you the prospectus by calling (203) 883-1944 or emailing IR@belpointeoz.com. Read the prospectus in its entirety before making an investment decision.