Belpointe PREP LLC Secures $204 Million Financing for Sarasota Development with New Mortgage and Mezzanine Loan Agreements
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Belpointe PREP LLC has secured $204.1 million in financing for its Aster & Links development project in Sarasota, Florida. The financing includes a $163.3 million variable-rate mortgage loan and a $40.8 million mezzanine loan, both from SM Finance III LLC. The funds will refinance existing loans and cover leasing and project costs. The loans have maturity dates of October 11, 2027, with interest rates tied to Term SOFR. Full loan agreements will be filed in the upcoming quarterly report.
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