Item 1.01 Entry into a Material Definitive Agreement.

On January 3, 2022, Belpointe PREP, LLC (the "Company"), through Belpointe PREP Financing, LLC ("PREP Financing"), an indirect wholly-owned subsidiary of the Company, provided a commercial mortgage loan in the principal amount of $30,000,000.00 (the "Loan") to Norpointe, LLC ("Norpointe"), an affiliate of our Chief Executive Officer, Brandon Lacoff. Norpointe is the owner of certain real property located at 41 Wolfpit Avenue, Norwalk, Connecticut 06851 (the "Property").

The Loan is evidenced by a promissory note in favor of PREP Financing bearing interest at a rate of 5% per annum and due and payable on December 31, 2022 (the "Note"), and is secured by a first mortgage lien on the Property pursuant to the terms of a Mortgage Deed and Security Agreement (the "Mortgage").

The foregoing description of the Note and Mortgage does not purport to be complete and is qualified in its entirety by reference to the full text of the Note and Mortgage, which are filed as Exhibits 10.12 and 10.13 hereto and are incorporated herein by reference.





Item 9.01 Exhibits



Exhibit
Number     Description
10.12        Promissory Note, dated January 3, 2022.
10.13        Mortgage Deed and Security Agreement, dated January 3, 2022.
104        Cover Page Interactive Data File (embedded within the Inline XBRL document)

© Edgar Online, source Glimpses