Belpointe PREP Reports Q2 2026 NAV Determination

What Happened
Belpointe PREP, LLC filed an 8‑K (Item 8.01) on August 28, 2026 announcing its quarterly determination of net asset value (NAV) as of the June 30, 2026 valuation date. The Company reported a NAV of $455,013,467 and a NAV per Class A unit of $116.37, based on its valuation policies and manager reviews.

Key Details

• Total assets: $761,525,631, including investments in real properties of $727,299,889, cash and equivalents $15,636,979, and other assets $18,588,763.
• Total liabilities: $306,512,164, including debt and other borrowings of $282,311,738 and other liabilities $24,200,426.
• NAV: $455,013,467; Class A units outstanding: 3,909,902; NAV per Class A unit: $116.37.
• NAV reflects accruals/allocations for management fees, potential distributions or gains attributable to the Manager’s Class B units, and reimbursable expenses; Manager may adjust valuation methodologies over time.

Why It Matters
NAV is a snapshot of the company’s estimated underlying value per Class A unit and a key reference for investors tracking asset-backed performance and valuation changes. However, the filing emphasizes this NAV is an estimate based on the Company’s policies and is not a guarantee the Company can realize that amount in a sale or that market trading prices will match NAV. Investors should note the impact of debt levels, manager allocations, and potential future methodology changes on reported NAV.