Belpointe PREP, LLC Acquires New Opportunity Zone Property in Nashville, Tennessee
Belpointe PREP, LLC (NYSE American: OZ) has successfully acquired a 5.92-acre development site in Nashville, Tennessee for $16.2 million. This is the fifth investment in Nashville, where many companies are expanding, driving demand for rental housing. Partnering with CA South Development, the site will feature multiple mixed-use buildings. Belpointe OZ has raised over $345 million for its opportunity fund and has an extensive development pipeline totaling over $1.3 billion in project costs.
- Acquisition of a strategic development site in Nashville to meet increasing rental demand.
- Collaboration with local developer CA South Development enhances local market expertise.
- Nashville's growth attracts major companies, indicating potential for rental unit success.
- Strong financial backing with over $345 million raised for development projects.
- None.
GREENWICH, Conn., Dec. 09, 2022 (GLOBE NEWSWIRE) -- Belpointe PREP, LLC (NYSE American: OZ) (“Belpointe OZ” or the “Company”), a publicly traded qualified opportunity fund, announced today that it has completed the acquisition of a new development site in Nashville, Tennessee, for an aggregate purchase price of
Belpointe has partnered with CA South Development, which is a developer local to the Nashville market. The future development site will consist of multiple mixed-use buildings with varying heights, unit counts, and amenities.
According to Costar Group, numerous companies such as Amazon.com, Inc., Oracle Corporation, AllianceBernstein Holding L.P., Capgemini SE, and others continue to expand their footprint in Nashville, creating fresh demand for rental housing units. According to a 2023 report commissioned by the nonprofit real estate research and policy organization Urban Land Institute, Nashville is the number one market for real estate investing.
“The team and I are very excited to expand our footprint in the highly desirable Nashville market” said Brandon Lacoff, Chief Executive Officer of Belpointe OZ, “the data continues to show that Nashville is a strong market supported by solid fundamentals including job growth and population growth which translates into strong demand for rental units.”
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 raised more than
Belpointe OZ has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission (“SEC”) for the offer and sale of up to
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Investor and Media Relations Contact:
Cody H. Laidlaw
Belpointe PREP, LLC
255 Glenville Road
Greenwich, Connecticut 06831
IR@belpointeoz.com
203-883-1944
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