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GREENWICH, CONNECTICUT, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Belpointe PREP, LLC (NYSE American: OZ) (“Belpointe OZ,” “we,” “us,” “our” or the “Company”), a publicly traded qualified opportunity fund, is pleased to report that Hurricane Milton inflicted no significant damage to our properties, Aster & Links, in Sarasota, Florida, and Viv, in St. Petersburg, Florida.
“We are grateful for this favorable outcome, and extend our thoughts to all of those affected by this storm,” said Brandon Lacoff, Belpointe OZ’s Chief Executive Officer. “While this report represents a preliminary assessment, and we will continue to work closely with our construction, development and property management teams to conduct thorough evaluations of our developments.”
Aster & Links Initial Assessment
There was a temporary disruption in power supply at Aster & Links, however, our generator effectively maintained critical life safety systems, and electric service was promptly restored. Preliminary assessments suggest minimal exterior damage, and the lobby of Aster remained dry, although a comprehensive evaluation is still in progress. “We believe the structural integrity and resilience of our Aster & Links development played a vital role in ensuring the safety and security of our residents and tenants during this extreme weather event,” said Brandon Lacoff.
Viv Initial Assessment
“In St. Petersburg, we are pleased to report that the construction crane at our Viv development withstood the severe conditions presented by Hurricane Milton,” Lacoff continued. “We attribute this success to the rigorous precautionary measures implemented by our team, which were crucial in safeguarding the site.”
“We recognize that Hurricane Milton has imposed substantial hardships on many members of our community,” said Lacoff “and our hearts go out to all of those directly impacted. Belpointe OZ remains steadfast in its commitment to supporting the broader community while prioritizing the safety and well-being of our projects, residents, and neighbors.
Our thoughts are with those who continue to recover.”
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.