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Belpointe PREP LLC Acquires OZ Property for $16.2 Million

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Belpointe PREP LLC (NYSE American: OZ), a publicly traded qualified opportunity fund, announced that it completed the acquisition of a new development site in Nashville, Tennessee, for an aggregate purchase price of $16.2 million, exclusive of transaction costs.

The 5.92-acre site is located within an opportunity zone on the riverfront and the future development will include multiple mixed-use buildings with various unit counts and amenities. This is Belpointe OZ’s fifth investment in Nashville.

Belpointe has partnered with CA South Development, a developer local to the Nashville market.

“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.”

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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