Belpointe REIT Inc., a Regulation A real estate investment trust that plans to invest in assets located in qualified opportunity zones, has started trading on the OTCQX under the symbol “BELP.”
The company claims that the REIT is the only qualified opportunity fund available to be bought and sold directly through an investor’s brokerage account.
Opportunity zones were designated by the Tax Cuts and Jobs Act of 2017 to incentivize private investments in certain distressed communities by offering potentially significant tax breaks to investors who reinvest unrealized capital gains into these areas.
“We are very excited to be able to bring a qualified opportunity fund to the public markets,” said Brandon Lacoff, chief executive officer of Belpointe REIT. “Highly tax advantaged and private equity style vehicles like these are not typically available through the retail channels.”
Belpointe REIT is publicly qualified under Tier 2 of Regulation A and quoted for trading on the OTCQX, therefor, non-accredited investors can purchase shares of up to 10 percent of their annual income or net worth, whichever is greater.
Shares are priced at $100 each and include an annual management fee of 0.75 percent and a carried interest of 5 percent.
Belpointe is a private equity firm and family office based in Greenwich, Connecticut that owns several businesses, including Belpointe Asset Management LLC, a financial asset management firm that manages approximately $1.5 billion in assets.