Belpointe PREP, LLC Files 2023 Annual Report Amendment

TL;DR

Belpointe PREP, LLC filed an amendment to its 2023 10-K, updating real estate business details.

AI Summary

Belpointe PREP, LLC filed an amendment (10-K/A) to its annual report for the fiscal year ending December 31, 2023. The filing, submitted on September 20, 2024, provides updated information regarding the company's financial status and operations. Belpointe PREP, LLC is primarily involved in real estate.

Why It Matters

This amended filing provides updated financial and operational details for Belpointe PREP, LLC, which is crucial for investors and stakeholders to assess the company's performance and current standing in the real estate sector.

Risk Assessment

Risk Level: low — This filing is an amendment to a previous annual report and does not appear to introduce new material risks or significant changes.

Key Numbers

• 20231231 — Fiscal Year End (The period covered by the annual report.)
• 20240920 — Filing Date (Date the amendment was submitted to the SEC.)

Key Players & Entities

• Belpointe PREP, LLC (company) — Filer of the 10-K/A
• 20231231 (date) — Fiscal year end for the report
• 20240920 (date) — Filing date of the amendment
• 203-883-1944 (phone_number) — Business phone number

FAQ

Key Financial Figures

• $750,000,000 — a continuous primary offering of up to $750,000,000 in our Class A units (our "Primary Offe
• $226.0 million — ering, raising net offering proceeds of $226.0 million. On May 9, 2023, the SEC declared eff
• $354.3 million — gregate gross offering cash proceeds of $354.3 million. Overview of our Business and Operati
• $400 million — and construction costs of approximately $400 million. Our Sponsor's financial management div
• $4 billion — nt division also currently manages over $4 billion in public securities. Our Investment

Filing Documents

• form10-ka.htm (10-K/A) — 1553KB
• ex10-5.htm (EX-10.5) — 94KB
• ex21.htm (EX-21) — 32KB
• ex31-1.htm (EX-31.1) — 13KB
• ex31-2.htm (EX-31.2) — 13KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 7KB
• ex97-1.htm (EX-97.1) — 35KB
• 0001493152-24-037651.txt ( ) — 6763KB
• oz-20231231.xsd (EX-101.SCH) — 54KB
• oz-20231231_cal.xml (EX-101.CAL) — 59KB
• oz-20231231_def.xml (EX-101.DEF) — 243KB
• oz-20231231_lab.xml (EX-101.LAB) — 414KB
• oz-20231231_pre.xml (EX-101.PRE) — 342KB
• form10-ka_htm.xml (XML) — 822KB

Business

Item 1. Business 5

Risk Factors

Item 1A. Risk Factors 15

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 42

Cybersecurity

Item 1C. Cybersecurity 42

Properties

Item 2. Properties 42

Legal Proceedings

Item 3. Legal Proceedings 42

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 42 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 43

Reserved

Item 6. Reserved 44

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 45

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 50

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 51

Changes in and Disagreements With Accountants on Accounting and Financial Disclosures

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosures 75

Controls and Procedures

Item 9A. Controls and Procedures 75

Other Information

Item 9B. Other Information 75

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 75 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 76

Executive Compensation

Item 11. Executive Compensation 80

Security Ownership of Certain Beneficial Owner and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owner and Management and Related Stockholder Matters 80

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 81

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 84 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 85

Form 10-K Summary

Item 16. Form 10-K Summary 85

Signatures

Signatures 86 2 Forward-Looking This Annual Report on Form 10-K (this "Form 10-K") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which reflect the current views of Belpointe PREP, LLC, a Delaware limited liability company (together with its subsidiaries, the "Company," "we," "us," or "our") with respect to, among other things, our future results of operations and financial performance. In some cases, you can identify forward-looking statements by words such as "anticipate," "approximately," "believe," "continue," "could," "estimate," "expect," "intend," "may," "outlook," "plan," "potential," "predict," "seek," "should," "will," and "would" or the negative version of these words or other comparable words or statements that do not relate strictly to historical or factual matters. By their nature, forward-looking statements speak only as of the date they are made, are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify, in particular due to rising interest rates, increasing inflation and recent instability in the banking system, and the projected impact of such factors on our business, financial performance and operating results. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will result or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. There are a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from the forward-looking

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View this 10-K/A filing on SEC EDGAR