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Belpointe OZ Sponsor for $56.4M Mezz Loan – Connect CRE

by | Feb 12, 2024 | 0 comments

Southern Realty Trust originated a mezzanine loan in the aggregate amount of $56.4 million for Aster & Links, a multi-family community development with ground-floor retail located on Main Street and Links Avenue in Sarasota, Florida. Spanning over 650,000 square feet, the Project is located in downtown Sarasota. The borrower, Belpointe OZ was advised by Lantern Real Estate.

With expected completion in the second half of 2024, the Project comprises two distinct luxury 10-story residential buildings with over 51,000 square-foot of ground floor retail anchored by the nationally recognized grocer Sprouts. The Aster & Links complex includes 424 apartments and 778 parking spaces for multi-family and retail components.

Last year, the developer obtained a $130 million construction loan from Bank OZK for the project. Belpointe OZ plans to deliver Aster & Links in the second half of the year. Belpointe OZ is a publicly traded qualified opportunity fund, listed on NYSE American under the symbol “OZ.”

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