Business Context and Reporting Period
This Form 8-K is filed by Belpointe PREP, LLC (the "Company") for the reporting period ending June 30, 2025. The filing reports on a material definitive agreement entered into on June 24, 2025, concerning a loan extension for an indirect majority-owned subsidiary, 900 Eighth, LP.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or margin data. The specific financial details disclosed relate to a single debt instrument:
- Principal Amount: $10.0 million
- Interest Rate: 9.50% per annum (fixed)
- Collateral: 3.2-acre land assemblage at 900 8th Avenue South, Nashville, Tennessee
- Guaranty: The Company has provided a Guaranty of Recourse Obligations and Debt Service and Carry Guaranty
Material Changes
The primary material change reported is the extension of the loan maturity date:
- Original Maturity: June 26, 2025
- New Maturity: January 2, 2026 (Extended Maturity Date)
- Action Taken: The Borrower exercised the first of two available six-month extension options via a Letter Agreement dated June 24, 2025.
- Terms: All other terms, including the 9.50% interest rate, remain unchanged. The Company reaffirmed its guaranty obligations.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or specific risk factors beyond the standard disclosure that the description of the Letter Agreement is qualified by reference to the full text of the agreement. The filing notes that the full text of the Letter Agreement will be filed as an exhibit in the next applicable periodic report.
Investor Verification Checklist
- Verify the status of the 3.2-acre land assemblage in Nashville, Tennessee, to ensure it remains sufficient collateral for the $10.0 million loan.
- Confirm the Company's ability to service the 9.50% interest rate through the new maturity date of January 2, 2026.
- Review the upcoming periodic report for the full text of the Letter Agreement and any additional covenants or restrictions associated with the extension.
- Assess the impact of the extended debt maturity on the Company's overall liquidity and leverage ratios, as these are not detailed in this 8-K.