Belpointe PREP 3Q 2026: Revenue $6.3M, Net loss $8.7M — 10-Q Summary

Belpointe PREP reported third-quarter 2026 revenue of $6.3 million, up 165.6% from $2.4 million a year earlier, while its net loss narrowed to $8.7 million from $12.1 million. Loss per Class A unit was $2.2, compared with $3.21 in the prior-year quarter.

Financial Highlights

• Revenue was $6.3M, compared with $2.4M in the prior-year quarter; YoY change 165.6%.
• Net loss attributable to Belpointe PREP was $8.7M, compared with $12.1M; the loss narrowed 28.2%.
• Loss per Class A unit was $2.20, compared with $3.21. This is a class-specific measure, not total diluted EPS.

Business Highlights

• As of November 1, 2026, Aster & Links was over 92% leased and VIV was over 86% leased.
• Nine-month rental revenue increased to $15.9 million from $6.1 million as the properties continued to lease up.
• VIV construction was substantially completed in 2025. Leasing began in October 2025, with first move-ins in November.
• The company plans to sell its rezoned Davidson Properties to seek to maximize value for unitholders.
• Plans include multifamily and mixed-use projects in Sarasota and Storrs, subject to market conditions and execution.

Original SEC Filing: Belpointe PREP, LLC [ OZ ] - 10-Q - Nov. 04, 2026