Long-Term Growth For Gulf City Looks Solid
Sarasota, Florida, joins the top of the list of fastest-growing cities due to several factors. According to a recent article by MSN, “Sarasota is no longer considered just a town for retirees but is attracting more and more young professionals. People flock to the area for its beachy atmosphere, fine arts scene and growing food culture. The year-round warm climate is also a big draw for northerners searching for a laid-back, tropical vibe.”
In addition, Yourobserver.com reports that constant residential construction in downtown Sarasota since 2016 has contributed to the region’s continued rapid population growth. Sarasota also averages about 250 sunny days a year. Daytime highs from November through April are around 70 to 80 degrees. A thriving arts and cultural scene in Sarasota is a big draw for year-around outdoor activities. There are lots of festivals, celebrations, and other cultural events throughout the year.
There is also a vibrant tourism sector that continues to be a go-to destination for visitors and eventual residents. The tourism sector is the city’s major employer and home to some of the most beautiful beaches in the country, such as Siesta Key Beach, Sarasota Gay Beach, Lido Beach Park, and Longboat Key Beach, all of which draw tourists from all over the world.
In fact, Sarasota is widely regarded as one of the best cities to enjoy a beach vacation. The sand-dollar beaches and major tourist attractions play a major role in providing jobs for the residents and boosting the city’s economy. A high-standard healthcare system also exists in Sarasota, which is home to four hospitals, all of which have received recognition for the excellent care they provide. When it comes to intensive care facilities, Sarasota Memorial Hospital is consistently ranked as one of the best in the country.
Belpointe OZ (NYSE American: “OZ”) is putting the finishing touches on its first inaugural opportunity zone fund property in downtown Sarasota, which is slated to bring in new tenants in a few months. The Aster & Links Class A full-featured multifamily property is located at 1991 Main Street. This is a special time for investors to consider Belpointe OZ as this project is about to go live in a hot market while the share price of Belpointe OZ units is heavily discounted to its net asset value (“NAV”).
The proper timing of a purchase of commercial real estate does not need to be explained to this audience. We view the current setup for the purchasing units of Belpointe OZ at current prices to be very opportune.
The Aster and Links website is now online. For more information, click the image below
Aster & Links will consist of 424 luxury apartment homes that range from one-bedroom, two-bedroom, three-bedroom apartments to four-bedroom townhome-style penthouses spread throughout two 10-story high-rise buildings, and over 900 parking spaces, consisting of garage and surface parking. The development will offer full amenities such as a clubroom, fitness room, center courtyard with heated saltwater pool, and rooftop amenities, including a community room and a private dining area for private events, as well as outdoor grills and seating.
Belpointe OZ is also making excellent headway on a Class A multi-family residential project in downtown St. Petersburg, Florida, at 1000 First Ave North.
From an investment standpoint, it is our view that the current price of Belpointe OZ (NYSE American: “OZ”) units at $65 as of January 26, 2024 is wholly dislocated from the NAV as of September 30, 2023, of $370.49 million, or $103.50 per Class A unit. If Belpointe OZ’s projects were simply in the planning stage, then a steep discount is debatable. However, 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, one of which is set to open its doors for new tenants as early as spring 2024.
Those investors looking to rebalance portfolios in overweighted Magnificent Seven stocks and other mega-cap tech winners might consider swapping into steeply discounted Class-A apartment REITs such as Belpointe OZ, just as the partnership is exhibiting strong momentum in early 2024.
Unlike many private qualified opportunity zone funds, investing in Belpointe OZ (NYSE American: “OZ”) is as simple as buying any other publicly traded equity. If you purchase Belpointe OZ’s Class A units in the open market, there is no subscription agreement or investor certification required; you can simply purchase Class A units through any brokerage account. Belpointe OZ offers the same opportunity zone benefits as any private structure. To properly defer your reinvested capital gains, your accountant will need to file IRS Forms 8949 and 8997 with your tax returns. You will need Belpointe OZ’s EIN which can be found here: Belpointe OZ EIN
Further, in its effort to disrupt the U.S. real estate industry, Belpointe OZ is charging among the lowest fees in the market, including:
- No investors servicing fees;
- No disposition fees;
- 0.75% annual management fee; and
- 5% carried interest.
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.
©2024 Belpointe PREP, LLC. All rights reserved.
