Belpointe PREP, LLC Acquires New Opportunity Zone Property In Nashville, Tennessee For An Aggregate Purchase Price Of $16.2M

Belpointe PREP, LLC (NYSE:OZ) ("Belpointe OZ" or the "Company"), a publicly traded qualified opportunity fund, announced today that it has completed the acquisition of a new development site in Nashville, Tennessee, for an aggregate purchase price of $16.2 million, exclusive of transaction costs. The approximately 5.92-acre site is located within an opportunity zone on the riverfront in East Nashville, Tennessee. This marks Belpointe OZ's fifth investment in Nashville.
 

Belpointe has partnered with CA South Development, which is a developer local to the Nashville market. The future development site will consist of multiple mixed-use buildings with varying heights, unit counts, and amenities.

According to Costar Group, numerous companies such as Amazon.com, Inc., Oracle Corporation, AllianceBernstein Holding L.P., Capgemini SE, and others continue to expand their footprint in Nashville, creating fresh demand for rental housing units. According to a 2023 report commissioned by the nonprofit real estate research and policy organization Urban Land Institute, Nashville is the number one market for real estate investing.

"The team and I are very excited to expand our footprint in the highly desirable Nashville market" said Brandon Lacoff, Chief Executive Officer of Belpointe OZ, "the data continues to show that Nashville is a strong market supported by solid fundamentals including job growth and population growth which translates into strong demand for rental units."