Belpointe PREP, LLC ("Belpointe OZ," "we," "us," "our" or the "Company") (NYSE:OZ), a publicly traded qualified opportunity fund, announced today that the Company entered into an agreement relating to a development site located at 100 Tokeneke Road in Darien, Connecticut (the "Property"), one of the most affluent and supply-constrained residential markets in the region.

The Property is being contributed by the seller to an indirect subsidiary of Belpointe OZ in exchange for equity in the project entity. The transaction was completed without any upfront cash consideration from Belpointe OZ, though the Company intends to provide future capital in connection with the project's development or financing, either directly or indirectly through an affiliated investment vehicle organized for that purpose. The structure establishes an initial framework for our participation in the long-term development and ownership of a ground-up luxury multifamily project in one of the most exclusive residential communities in the country.

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