Updated Nov 18, 2025
Belpointe PREP, LLC Secures $130M Construction Loan For Sarasota Development Site
1991 Main St, Sarasota, FL 34236, United States
$130,000,000
Building Size
—
Asset Type
Development Site
Closing
Jun 7, 2023
About this deal
AI
Belpointe PREP, LLC has obtained a $130 million construction loan from Bank OZK for its Sarasota development project, Aster & Links. The project is located at 1991 Main Street and is a development site in the Sarasota market. The loan will be used for the construction of two 10-story high-rise buildings, which will offer 424 apartment homes with upscale amenities and over 900 parking spaces.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $130,000,000
- Address: 1991 Main Street
- Market: Sarasota
The lender for this transaction is Bank OZK, providing the $130 million construction loan to Belpointe PREP, LLC for their Aster & Links development project in Sarasota. Additionally, the landlord for the project is Belpointe PREP, LLC, represented by Brandon Lacoff.
Players
Miami Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93