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Belpointe PREP receives $5.1M prepayment on convertible note from related party
OZBelpointe PREP, LLC
Belpointe PREP, LLC received a full prepayment of $5,114,904 for a $5 million convertible promissory note issued to 100 Tokeneke Road, LLC. The payment includes $114,904 in accrued interest and terminates the lender's conversion rights into Class A units of Tokeneke Partners. The funds were provided by a related party entity controlled by the CEO’s family members via a capital contribution. This transaction resolves the debt without penalties or equity issuance. Belpointe PREP operates as an investment management firm focused on real estate and private credit strategies.