Belpointe PREP, LLC (OZ) Form 10-Q — Aug 4, 2026
Belpointe PREP, LLC reported Q2 2026 rental revenue of $5.4 million, up from $2.0 million a year earlier, as total Segment NOI swung to a positive $1.3 million from a $1.1 million loss, driven by the completed VIV development and higher occupancy at Aster & Links, which was greater than 82% leased as of July 26, 2026. Despite the top-line growth, the quarterly net loss widened to $9.3 million, or $2.37 per Class A unit, from $7.6 million, or $2.06, a year ago, mainly because interest expense nearly doubled to $5.6 million now that development is complete and interest is no longer capitalized.
Key figures
- Revenue
- 5367000
- Total Debt
- 279077000
- Revenue Yoy
- +168% YoY for Q2 2026 ($5.367M vs $2.002M); six-month revenue $9.602M vs $3.741M (+157%)
- Total Assets
- 561770000
- Cash Position
- 15637000
- Restricted cash
- 6384000
- Aster links rate
- 1-month SOFR (3.25% floor) + 2.55% blended
- Due to affiliates
- 9930000
- Segment noi q2 2026
- 1266000
- Aster links maturity
- October 11, 2027
- Aster links leased pct
- >82%
- Aster links loans drawn
- 177800000
- Interest expense q2 2026
- 5575000
- Class a units outstanding
- 3909902
- Weighted average units q2
- 3902089
- Nav per unit march 31 2026
- 116.25
- Private placement units q2
- 11798
- Follow on offering capacity
- 750000000
- Private placement avg price
- 47.6
- Viv construction loan drawn
- 96000000
- Private placement gross proceeds
- 566041
- Cumulative gross offering proceeds
- 371800000
Price after filing
Close on the filing date to close N calendar days later (from $45.46). Historical, not a forecast.
AI analysis
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