Business: Belpointe PREP, LLC is a qualified opportunity fund listed on a national securities exchange. The fund is focused on identifying, acquiring, developing or redeveloping and managing commercial real estate located within qualified opportunity zones. At least 90% of the funds assets consist of qualified opportunity zone property. The Fund qualified as a qualified opportunity fund beginning with our taxable year ended December 31, 2020. The initial investments consist of and are expected to continue to 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 (collectively, the “qualified opportunity zone investments”) located throughout the United States and its territories. As a qualified opportunity fund investors may be eligible for favorable capital gains tax treatment on their investments.