Aster & Links Opening Brings True Luxury To Urban Dwellers

In our experience, to the thousands of home-seekers running into what seems like a never-ending challenge of finding an affordable home in a prime urban neighborhood where mortgage payments won’t eat up 30% or more of their income, the option of living in full-featured urban apartment is an attractive alternative to life in the outer suburbs dwelling in a fixer-upper.

It seems to us that professionals in key cities with upward job mobility or within leading blue-chip companies want easy access to work, especially with some of the reversion back to spending more days in the office. The post-pandemic days of full-time remote work are quickly ending for many as corporations want employees on site, interacting, brainstorming, whiteboarding, and keying off each other in a real time, face-to-face physical environment.

Hence, it is no surprise to us that professionals want luxury living quarters that are hassle free so they can focus on their careers and families and not on a litany of remodeling projects. It’s a simple formula, that we see working for those on Wall Street or Midtown, Manhattan, where professionals can raise their families, send their children to quality schools, walk to top-rated restaurants for dinner and seek to grow their wealth exponentially.

Zoom into Sarasota, Florida, where there is a healthy job market, attracting a number of new companies and higher-salaried workers. We believe that residents like these will look for a downtown Sarasota living situation, close to work, the best restaurants, bars, entertainment venues, the beaches, and the airport.

We think the city planners in Sarasota got it right when they embraced the ability to rapidly build out its opportunity zone in the downtown district. By choosing downtown Sarasota, new residents would be close in proximity to work, historic landmarks and downtown events, have excellent access to transportation, dining, entertainment, views of the coast, abundant shopping and convenience, and more.

It is also why we at Belpointe PREP, LLC (“Belpointe OZ”) (NYSE American: “OZ”) took it upon ourselves to develop Aster & Links, a luxury apartment complex in the heart of downtown Sarasota, styled after big city feature-studded living residences, within a federally designated opportunity zone.

Belpointe OZ has begun receiving its first residents in its multifamily project in Aster & Links. Investors and future tenants can now preview and lease the available units and floorplans on the updated Aster & Links website, which displays the full-featured, Class A luxury apartment layouts with living spaces from 865 to 2,820 sq. feet, one-bed/one-bath to four-bed/three-and-a-half-bath and a wide array of options to fit the needs and wants of all future tenants.

The second tower at Aster & Links is anticipated to be completed by the end of 2024, and Belpointe OZ’s second project, called Viv, is underway in St. Petersburg, Florida.

As of May 31, 2024, Belpointe OZ, the only publicly traded qualified opportunity fund, announced its unaudited quarterly net asset value (“NAV”) as of March 31, 2024 of $361.66 million, or $99.59 per Class A unit. As of June 7, 2024, Belpointe OZ’s Class A units trade at discount of just over 40% to NAV. In our view, investors seeking a discounted real estate investment opportunity should consider exploiting the disparity between the current market price of Belpointe OZ’s (NYSE American: “OZ”) Class A units and its NAV, notwithstanding the tax benefits that Belpointe OZ, as a Qualified Opportunity Fund, has to offer.

It is our view that the market fails to price in the fact that Belpointe OZ owns Aster & Links, a major asset that is set to be stabilized in the next 12+ months and potentially generate substantial cash flow. What’s more, investors do not need capital gains to take advantage of the NAV-to-Class A unit price disparity. However, without investing capital gains investors will not qualify for any of the Opportunity Zone program tax benefits. But with the stock market gains being what they are year-to-date, locking in capital gains and sheltering those gains through the purchase of Belpointe OZ units is a strategy that is worthy of consideration.

Belpointe OZ

255 Glenville Road

Greenwich, CT 06831

T: (203) 883-1944

E: IR@belpointeoz.com

The information in this communication is for illustrative, educational and informational purposes only and is subject to change. Nothing in this communication is or should be construed as an offer to sell or the solicitation of an offer to buy any securities. Offers may only be made by means of a prospectus.

Belpointe PREP, LLC (“Belpointe OZ”) has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Prior to making an investment decision, you should read Belpointe OZ’s prospectus and the other documents that it has filed with the SEC in their entirety, and carefully consider its investment objectives and strategy, risk factors, fees and expenses and any tax consequences that may results from an investment in the offering. Copies of these documents can be obtained free of charge from www.sec.gov or investors.belpointeoz.com or from any broker-dealer participating in the offering.

The information in this communication should not be relied upon as investment or tax advice. You should consult with your own investment and tax advisers concerning the federal, state and local income tax consequences of purchasing, owning or disposing of securities in the offering, and of Belpointe OZ’s election to qualify as a partnership and qualified opportunity fund for federal income tax purposes. There is no guarantee that Belpointe OZ will continue to qualify as a partnership or qualified opportunity fund.

Past performance is not an indicator or a guarantee of future performance. An investment in the offering to which this communication relates involves a high degree of risk, including a complete loss of your investment, and may not be suitable for all investors. The price of Belpointe OZ’s securities will fluctuate in market value and may trade above or below net asset value. Brokerage commissions and expenses will reduce returns.

The offering to which this communication relates is being made on a best-efforts basis on behalf of Belpointe OZ through Emerson Equity, LLC, Member FINRA, SIPC, as managing broker-dealer.

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