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Belpointe Launches First SEC-Registered Opportunity Zone REIT
Greenwich, CT-based Belpointe, formed by former AvalonBay executives, has unveiled what the company says is the first Opportunity Zone REIT to be registered with the SEC. Open to both accredited and non-accredited investors, the Belpointe REIT is targeting an equity offering of $3 billion.
Belpointe touts what it says is one of the industry’s lowest fee structures: no upfront commissions, an annual management fee of 0.75% and a carried interest fee of 5%.
“The Belpointe REIT offers the ideal structure for investing in Opportunity Zones, by providing additional tax benefits, lower fees and better liquidity, in addition to being backed by our in-house real estate expertise and track record,” said CEO Brandon Lacoff.
The company has developed several multifamily properties, including Baypointe (pictured) in Stamford, CT. The property is itself in an Opportunity Zone. Belpointe plans to take the REIT public within six to eight years.
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- ◦Financing
