Belpointe OZ Development Reaches Construction Milestone

Belpointe PREP LLC (NYSE American: OZ), a publicly traded qualified opportunity fund, announced the topping-off of two luxury 10-story multifamily buildings, dubbed “Aster & Links,” in Sarasota, Florida. Belpointe secured a $130 million construction loan from Bank OZK in June 2023, to finance construction of the development.

“We are grateful to celebrate this important construction milestone with Suffolk, our design partners, and many key stakeholders from the Sarasota community,” said Eric Fenton, vice president of development at Belpointe OZ. “We value our partnership and look forward to the grand opening of Aster & Links in 2024.”

According to Belpointe, the Aster & Links development is “set to become a vibrant hub for commerce and community, offering a range of luxury residential and commercial spaces that blend urban convenience with contemporary design.”

The Aster & Links development will deliver 424 apartment homes that range from one-, two- and three-bedroom apartments to four-bedroom townhome-style penthouses.

Amenities include a clubroom, fitness room, center courtyard with a heated saltwater pool, and an array of rooftop amenities. Specifically, the rooftop spaces will feature community rooms, private dining areas for exclusive events, outdoor grills, and comfortable seating, providing residents with “picturesque views and a delightful retreat.”

Belpointe OZ is a publicly traded qualified opportunity fund. It has raised more than $345 million of equity capital in its ongoing qualified opportunity fund offering, with over 2,500 units in its development pipeline throughout four cities, representing an approximate total project cost of over $1.3 billion.

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