Belpointe PREP and Belpointe REIT announce the extension of the exchange offer

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GREENWICH, Conn., May 27, 2021 / PRNewswire / – Belpointe PREP, LLC (“Belpointe PREP”) and Belpointe REIT, Inc. (OTCQX: BELP) (“Belpointe REIT”) today announced an agreement to extend the offer period of the offer exchange previously started at 11:59 p.m., New York City It’s time June 18, 2021.

Securities Transfer Corporation, the exchange agent for the offer, has informed Belpointe PREP that, 7:00 p.m., New York City It’s time May 26, 2021461,302 common shares of Belpointe REIT, representing approximately 44.70% of the issued and outstanding Belpointe REIT shares, were tendered under the exchange offer. Shareholders who have already tendered their common shares of Belpointe REIT are not required to surrender their shares or take any other action due to the extension of the expiry of the exchange offer.

Belpointe PREP expects the exchange offer to be completed as soon as possible after the expiration of the offer period (as extended herein), subject to satisfaction or waiver of the conditions. remaining upon completion of the exchange offer set out in the merger agreement.

The exchange offer is subject to certain conditions described in the exchange offer. Copies of the Exchange Offer and related Letter of Transmittal have been filed with the Securities and Exchange Commission (“SEC”) and can be obtained on the SEC’s website at www.sec .gov or by contacting Belpointe PREP at the following address:

Investor Relations
Belpointe PREP, LLC
255 Glenville Road
Greenwich, Connecticut 06831
[email protected]

About Belpointe PREP, LLC

Along with the proposed exchange offer and related transactions, Belpointe PREP has filed a registration statement on Form S-11 with the SEC under which it proposes to offer on a continuous basis until 750,000,000 USD of its Class A units as part of a main placement at an initial price equal to $ 100.00 per unit.

Belpointe PREP has requested that its Class A units be listed on NYSE American under the symbol “OZ”, and once the proposed exchange offer and related transactions are completed, Belpointe PREP will become the first QOF traded on a national stock exchange of values.

Belpointe PREP’s initial investments consist and should continue to consist of properties located in areas of qualified opportunity for the development or redevelopment of multi-family housing, student housing, senior residences, healthcare, industrial, self-storage, hospitality, office, mixed-use, data centers and solar projects located everywhere United States and its territories. Belpointe PREP also plans to identify, acquire, develop or redevelop and manage a wide range of commercial real estate assets located United States and its territories, including, but not limited to, real estate-related assets, such as commercial real estate loans and mortgages, and debt and equity securities issued by other companies related to the real estate, as well as carrying out private equity acquisitions and investments, and opportunistic acquisitions of other qualified opportunity funds and companies in qualified opportunity areas, with the aim of increasing distributions and capital appreciation.

About Belpointe REIT

Belpointe REIT is the first QOF listed on the stock exchange. Belpointe REIT’s investments consist of properties located in areas of qualified opportunity for the construction and / or renovation of multi-family housing, student housing, senior residences, healthcare, industrial, self-catering. storage, hospitality, office, mixed-use, data center and solar projects located United States and its territories.

Caution regarding forward-looking statements

Statements in this press release that are not historical facts are based on Belpointe PREP’s current expectations, estimates, projections, opinions and beliefs. Such statements involve risks, uncertainties and other known and unknown factors, and should not be relied on unduly. Certain information contained in this press release constitutes “forward-looking statements”, which can be identified by the use of forward-looking terms such as “may”, “will”, “should”, “seek”, “expect”, “Anticipate,” “predict”, “plan”, “estimate”, “intend”, “continue”, “target” or “believe” or their drawbacks or other variations or comparable terminology. However, the lack of these words do not mean that statements are not forward-looking. Any forward-looking statement expressing an expectation or belief about future events is expressed in good faith and considered reasonable at the time such forward-looking statement is made. However, such forward-looking statements are not are not guarantees of future events and involve risks, uncertainties and other factors beyond the control of Belpointe PREP. Therefore, actual results may differ materially from what is expressed in any forward-looking statement.

Further information

This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities or a solicitation of a vote or approval. The Scheduled Exchange Offer described herein has not yet commenced, and although Belpointe PREP intends to commence and subsequently complete the Exchange Offer as soon as reasonably possible, there can be no assurance that Belpointe PREP start or complete the exchange offer on the terms described here, or not at all.

Before making any decision regarding the proposed exchange offer, holders of common shares of Belpointe REIT should carefully read the information contained in the exchange offer, letter of transmittal and related documents, including various terms and conditions of the exchange offer, as well as any other document that Belpointe PREP or Belpointe REIT may file with the SEC.

Investor relations and media contact:

Cody Laidlaw, Main
(203) 883-1944
[email protected]

SOURCE Belpointe



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