# Belpointe PREP Reaches Leasing Milestone at Florida Residential Complex

- URL: https://stocks.freetheai.org/news/belpointe-prep-reaches-leasing-milestone-at-florida-residential-complex-7cadcf
- Published: 2026-10-16T10:45:00Z
- Category: company_news; sentiment: bullish; impact: medium
- Symbols: [AMEX:OZ](https://stocks.freetheai.org/symbols/AMEX-OZ)
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Belpointe PREP, LLC (OZ) reported that residential occupancy at VIV, a 269-unit mixed-use apartment development in downtown St. Petersburg, Florida, has passed 80%. Tenant recruitment at the property began in October 2025, reaching this milestone during its first twelve months on the market.

The development features two linked residential towers situated in the city's EDGE District, along with street-level retail spaces on Baum Avenue and 1st Avenue North. High demand at the property limits remaining inventory and brings the site closer to full operation. Along with progress at its Aster & Links site, the milestone moves the real estate firm toward stabilizing both of its completed developments. Belpointe PREP operates as a publicly listed Qualified Opportunity Fund holding a portfolio of more than 1,000 units across three cities.

Management expects VIV to achieve full property stabilization between late 2026 and early 2027 as additional tenants complete move-ins.

## Key points

- Belpointe PREP, LLC reported that its VIV residential project in St. Petersburg, Florida, has crossed 80% leased.
- The 269-unit development reached the occupancy target within one year after beginning leasing efforts in October 2025.
- Located in the EDGE District, the site contains two connected towers and ground-floor storefronts on Baum Avenue and 1st Avenue North.
- Executive leadership anticipates full property stabilization for the complex between late 2026 and early 2027.

## Questions and answers

### What leasing milestone did Belpointe PREP reach at VIV?

The company announced that over 80% of the 269 residential units at its VIV development in St. Petersburg, Florida, have been leased within its first year on the market.

### Where is the VIV property located?

VIV is situated in the EDGE District of downtown St. Petersburg, featuring two connected towers and ground-floor retail space along 1st Avenue North and Baum Avenue.

### When will VIV reach property stabilization?

Belpointe PREP projects that the development will achieve full stabilization between late 2026 and early 2027.