Demand For Class A Apartments Remains Robust
Early on in the OZ program, the executive management team at Belpointe OZ (NYSE American: “OZ”) took on a multi-year commitment to monetize the long-term growth potential of the gulf coast cities Sarasota and St. Petersburg, Florida with the buildout of large scale, Class-A, centrally located multi-family residential properties within what are arguably some of the most coveted Opportunity Zones in all of America. For investors seeking to invest in luxury apartment commercial real estate that has the potential to generate substantial income and capital appreciation over the next ten years, read on.
Belpointe OZ zeroed in on the downtown city districts of Sarasota and St. Petersburg early on, timing their purchases of three key properties that will see full completion and occupancy over the next few years, one of which will begin leasing up in the first half of 2024. This premier property is located at 1991 Main Street in Sarasota – named Aster & Links – a truly luxurious 424-unit apartment project that is situated in an amazing location adjacent to world-famous St. Armands Circle, Lido Key, Longboat Key and Siesta Key, with easy access to the Sarasota Bradenton International Airport that is only 5.4 miles away (11 min.).
This brand new mixed-used development has signed Sprouts Farmers Market as a major retail tenant and is located next to some outstanding retailers, restaurants and bars.
The Aster and Links website is now online. For more information click the image below
Back in June 2023, Belpointe OZ broke ground on a 269-unit Class A luxury apartment development located at 1000 First Avenue North in the EDGE District of downtown St. Petersburg, Florida. With approximately 15,500 square feet of retail space and standing at an impressive 15-stories tall, this development promises to offer residents an unparalleled living experience.
The complex will feature a club room, fitness center, and swimming pool, providing a luxurious and comfortable living environment. The project is approximately 25% complete.
The project rendering shows a sleek design, walking distance to the water and all downtown points of interest and a short ride to Tropicana Park, home of the MLB Tampa Bay Rays. With the commitment to upscale living in one of finest coastal cities in Florida, Belpointe is delivering a grand project in a terrific location.
Thirdly, Belpointe OZ recently submitted plans to transform the 1700 block of Main Street in Sarasota into a 226-unit building that will include 25 affordable housing units. In the latest elevation plan of the project, which is very close to Aster & Links, Belpointe OZ is rapidly leveraging its presence in Sarasota, Florida.
https://www.yourobserver.com/news/2024/jan/05/apartment-complex-proposed-tube-dude-site/
Most commercial real estate assets have been discounted heavily due to tight Fed monetary policy and the problems associated with office properties beset with lower valuations due to remote workforce conditions. It is our view that the fundamentals underlying the luxury apartment market in Sarasota and St. Petersburg are solid, supported by rising trends of incoming migration of both residents, frequent vacationers and corporations.
It is also our strong belief that Belpointe OZ Class A units trading at $63.50 as of Feb 2 (a steep discount to NAV of $103.50 per Class A unit as of September 30, 2023) means there is strong upside potential the investment.
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.
