Belpointe OZ Announces Second Quarter Net Asset Value Per Class A Unit
Belpointe PREP, (NYSE American: OZ), a publicly traded qualified opportunity fund, announced its unaudited Q2 2024 net asset value (NAV) of $356.78 million or $98.24 per Class A unit. Despite a slight decrease of approximately 1%, primarily due to a valuation change in the Nashville, TN market, CEO Brandon Lacoff expressed confidence in the portfolio's long-term return potential.
The company highlighted positive progress at Aster & Links, their flagship property in downtown Sarasota, FL, which has begun leasing and moving in residents. This luxury community development marks a significant milestone in Belpointe OZ's real estate portfolio.
Belpointe PREP, (NYSE American: OZ), un fondo di opportunità qualificato quotato in borsa, ha annunciato il suo valore patrimoniale netto (NAV) non auditato per il secondo trimestre del 2024 di 356,78 milioni di dollari o 98,24 dollari per unità di Classe A. Nonostante una leggera diminuzione di circa l'1%, principalmente a causa di un cambiamento di valutazione nel mercato di Nashville, TN, il CEO Brandon Lacoff ha espresso fiducia nel potenziale di rendimento a lungo termine del portafoglio.
L'azienda ha evidenziato progressi positivi presso Aster & Links, la loro proprietà di punta nel centro di Sarasota, FL, che ha iniziato a locate e accogliere residenti. Questo sviluppo di comunità di lusso rappresenta un traguardo significativo nel portafoglio immobiliare di Belpointe OZ.
Belpointe PREP, (NYSE American: OZ), un fondo de oportunidades calificadas que cotiza en bolsa, anunció su valor neto de activos (NAV) no auditado para el segundo trimestre de 2024 de $356.78 millones o $98.24 por unidad Clase A. A pesar de una ligera disminución de aproximadamente el 1%, principalmente debido a un cambio de valoración en el mercado de Nashville, TN, el CEO Brandon Lacoff expresó confianza en el potencial de rendimiento a largo plazo de la cartera.
La empresa destacó avances positivos en Aster & Links, su propiedad insignia en el centro de Sarasota, FL, que ha comenzado a arrendar y acoger residentes. Este desarrollo de comunidad de lujo marca un hito significativo en el portafolio inmobiliario de Belpointe OZ.
벨포인트 PREP, (NYSE American: OZ), 상장된 자격 있는 기회 펀드가 2024년 2분기 감사되지 않은 순자산가치(NAV)를 3억 5678만 달러 또는 클래스 A 주당 98.24달러로 발표했습니다. 내슈빌(TN) 시장의 평가 변동으로 인해 약 1%의 소폭 하락이 있었습니다. CEO 브랜던 라코프는 포트폴리오의 장기 수익 가능성에 대한 확신을 표현했습니다.
회사는 플로리다주 사라소타 시내의 주요 자산인 Aster & Links에서 긍정적인 진행 상황을 강조했습니다. 이 고급 커뮤니티 개발은 벨포인트 OZ의 부동산 포트폴리오에서 중요한 이정표가 됩니다.
Belpointe PREP, (NYSE American: OZ), un fonds d'opportunité qualifié coté en bourse, a annoncé sa valeur nette d'inventaire (VNI) non auditée pour le deuxième trimestre 2024 de 356,78 millions de dollars ou 98,24 dollars par unité de classe A. Malgré une légère baisse d'environ 1 %, principalement due à un changement de valorisation sur le marché de Nashville, TN, le PDG Brandon Lacoff a exprimé sa confiance dans le potentiel de rendement à long terme du portefeuille.
L'entreprise a mis en avant les progrès positifs réalisés à Aster & Links, leur propriété phare dans le centre de Sarasota, FL, qui a commencé à louer et à accueillir des résidents. Ce développement de communauté de luxe marque une étape importante dans le portefeuille immobilier de Belpointe OZ.
Belpointe PREP, (NYSE American: OZ), ein börsennotierter qualifizierter Opportunitätsfonds, gab seinen ungeprüften Nettowert (NAV) für das zweite Quartal 2024 von 356,78 Millionen Dollar oder 98,24 Dollar pro Klasse-A-Einheit bekannt. Trotz eines leichten Rückgangs von etwa 1 %, hauptsächlich aufgrund einer Bewertungsänderung im Markt von Nashville, TN, äußerte CEO Brandon Lacoff Zuversicht in das langfristige Renditepotenzial des Portfolios.
Das Unternehmen hob die positiven Fortschritte bei Aster & Links, ihrem Flaggschiffobjekt im Stadtzentrum von Sarasota, FL, hervor, das mit der Vermietung begonnen hat und Bewohner aufnimmt. Diese hochwertige Wohnanlage stellt einen bedeutenden Meilenstein im Immobilienportfolio von Belpointe OZ dar.
- Solid NAV of $356.78 million or $98.24 per Class A unit
- Aster & Links property in Sarasota, FL has begun leasing and moving in residents
- Slight decrease of approximately 1% in NAV
- Valuation change in Nashville, TN market affecting NAV
Insights
Belpointe OZ's Q2 NAV report reveals a slight decrease of
The commencement of leasing at Aster & Links in Sarasota is a positive indicator for future cash flows. As a qualified opportunity fund, Belpointe OZ's performance is important for investors seeking tax-advantaged real estate exposure. The steady NAV, despite minor setbacks, indicates potential for long-term value creation, aligning with the fund's structure and investment horizon.
The
The progress of Aster & Links in Sarasota is a bright spot, potentially offsetting challenges elsewhere. As leasing begins, it signals the transition from development to income-generating phase, important for REITs and opportunity funds. This milestone could positively impact future NAV calculations and dividend potential, assuming strong occupancy rates and rental income materialize.
Greenwich, CT, Aug. 30, 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 June 30, 2024 of
“We are pleased with our Q2 NAV,” said Brandon Lacoff, Belpointe OZ’s Chief Executive Officer. “Notwithstanding a slight decrease of approximately
Brandon continued “We are also very pleased with the results and progress of Aster & Links, our flagship property located in downtown Sarasota, FL, which has begun leasing up and moving residents into their new homes.”
For more information about the luxury community at Aster & Links visit https://asterandlinks.com.
About Net Asset Value
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 June 30, 2024 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
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
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may be considered forward-looking, such as statements containing estimates, projections and other forward-looking information. Forward-looking statements are typically identified by words and phrases such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” or the negative of such words and other comparable terminology. However, the absence of these words does not mean that a statement is not forward-looking. Any forward-looking statements expressing an expectation or belief as to future events is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future events and involve risks, uncertainties and other factors beyond our control. Therefore, we caution you against relying on any of these forward-looking statements. Actual outcomes and results may differ materially from what is expressed in any forward-looking statement. Except as required by applicable law, including federal securities laws, we do not intend to update any of the forward-looking statements to conform them to actual results or revised expectations.
Investor Relations and Media Contact:
Cody H. Laidlaw
Belpointe PREP, LLC
255 Glenville Road
Greenwich, Connecticut 06831
IR@belpointeoz.com
203-883-1944
FAQ
What is Belpointe OZ's (NYSE: OZ) net asset value as of June 30, 2024?
How did Belpointe OZ's (NYSE: OZ) NAV change in Q2 2024?
What progress has Belpointe OZ (NYSE: OZ) made with its Aster & Links property?
Where is Belpointe OZ's (NYSE: OZ) Aster & Links property located?
