Belpointe PREP, LLC 8-K

What Happened
Belpointe PREP, LLC filed an 8‑K (Item 8.01) on June 1, 2026 announcing its quarterly determination of net asset value (NAV) as of March 31, 2026. The Company reported total NAV of $453,157,249 and NAV per Class A unit of $116.25, based on 3,898,104 Class A units outstanding. The NAV was calculated under the Company’s valuation policies and reflects allocations and accruals for management fees and distributions to its Manager.

Key Details

• Total NAV: $453,157,249; NAV per Class A unit: $116.25.
• Class A units outstanding: 3,898,104.
• Total assets: $755,611,260, including:
  • Investments in real properties: $724,820,038
  • Cash and cash equivalents: $19,568,237
  • Other assets: $11,222,985
• Total liabilities: $302,454,011, including:
  • Debt and other borrowings: $279,428,825
  • Other liabilities: $23,025,186
• NAV reflects allocation/accrual of management fees, distributions or gains allocable to the Manager’s Class B units, and reimbursements to the Manager and affiliates.

Why It Matters
NAV provides a snapshot estimate of the company’s per‑unit value based on its reported assets and liabilities and is a tool investors use to compare the company’s estimated intrinsic value to its market price. The filing emphasizes that NAV is calculated under internal valuation policies and is not a guarantee that the Company could realize that value on a sale or that Class A units will trade at that NAV on the NYSE American. Investors should consider NAV alongside market price, recent performance, and the effects of manager fees and allocations disclosed by the Company.