On October 10, 2025, Belpointe PREP, LLC (NYSE American: OZ) announced that it has closed a $204.14 million refinance transaction with an affiliate of Affinius Capital. The deal replaces existing debt on the company’s flagship Sarasota development, Aster & Links, and provides additional capital to accelerate lease‑up and stabilization of the property.
The refinance proceeds will be used to refinance current debt obligations and to fund ongoing lease‑up activities for the 424‑unit multifamily complex and its more than 50,000 sq ft of grocery‑anchored retail. Management estimates the transaction will save the company several million dollars in interest expense annually, improving cash flow and extending the debt maturity profile.
Aster & Links, located in downtown Sarasota, already boasts over 50 % residential occupancy and a Sprouts Farmers Market anchor, along with curated retail, spa, and restaurant tenants. The refinancing strengthens the asset’s financial position, supports continued tenant acquisition, and positions the property for full stabilization in the near term.
By reducing debt service costs and providing working capital for lease‑up, the transaction enhances investor returns and underpins Belpointe’s broader development strategy across its opportunity‑zone portfolio. The move signals confidence from institutional partners and reinforces the company’s ability to secure favorable financing for future projects.
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