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Belpointe OZ Signs Greystar as Property Manager for Multifamily Developments

Belpointe OZ Signs Greystar as Property Manager for Multifamily Developments. Belpointe PREP LLC, INVEST, investors, multifamily, opportunity zone, OZ, OZ Fund
Belpointe OZ Signs Greystar as Property Manager for Multifamily Developments. Belpointe PREP LLC, INVEST, investors, multifamily, opportunity zone, OZ, OZ Fund

Belpointe PREP LLC (NYSE American: OZ), a publicly traded qualified opportunity fund, announced an agreement with Greystar, a global leader in the development and management of rental housing, to serve as the property manager of Aster & Links, the company’s two-building development in Sarasota, Florida.

As The DI Wire previously reported, Belpointe announced the topping-off of the multifamily buildings in September 2023.

The company says the Aster & Links development project features two 10-story high-rise buildings and consists of 424 apartment homes, ranging from one-bedroom, two-bedroom, and three-bedroom apartments to four-bedroom townhome-style penthouses.

Aster & Links will include more than 900 parking spaces, both garage and surface parking options, and offers an array of amenities, including a clubroom, fitness room, center courtyard with a heated saltwater pool, and various rooftop amenities. The rooftop spaces will feature community rooms, private dining areas for exclusive events, outdoor grills, and comfortable seating.

“We are thrilled to partner with Greystar as the property manager for Aster & Links,” said Brandon Lacoff, chief executive officer of Belpointe OZ. “Greystar is a world-class real estate company with a proven track record of success in managing luxury apartment communities. We are confident that they will be the ideal partner to help us deliver on our vision for Aster & Links as a premier destination for residents and businesses in Sarasota.”

Aster & Links is currently anticipated to begin leasing in the first half of 2024.

“We are proud to partner with Belpointe OZ at Aster & Links to offer a resident experience with distinct style, unmatched amenities and personalized service,” Kelly Rayburn, senior director of real estate, Greystar, said. “This desirable downtown location has it all and creates a true live, work, play community. We look forward to welcoming prospective residents to pre-opening events in the new year to unveil this beautiful community.”

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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