Belpointe PREP, LLC Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 11, 2023 at 04:06 pm EDT
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Belpointe PREP, LLC reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 0.778 million compared to USD 0.312 million a year ago. Revenue was USD 0.778 million compared to USD 0.312 million a year ago. Net loss was USD 4.08 million compared to USD 1.89 million a year ago.
For the six months, sales was USD 1.28 million compared to USD 0.641 million a year ago. Revenue was USD 1.28 million compared to USD 0.641 million a year ago. Net loss was USD 6.89 million compared to USD 3.9 million a year ago.
Belpointe PREP, LLC is focused on identifying, acquiring, developing, or redeveloping and managing commercial real estate located within qualified opportunity zones. At least 90% of its assets consist of qualified opportunity zone property. Its primary investment objectives are to preserve, protect and return capital contribution; to pay attractive and consistent cash distributions over the long term; to grow net cash from operations so that an increasing amount of cash flow is available for distributions to investors over the long term; and to realize growth in the value of its investments. Its investments consist of properties located in qualified opportunity zones for the development or redevelopment of multifamily, student housing, senior living, healthcare, industrial, self-storage, hospitality, office, mixed-use, data centers and solar projects located throughout the United States and its territories. The Company is externally managed by Belpointe PREP Manager, LLC.
BELPOINTE PREP, LLC 
