Qualified Opportunity Fund Begins Trading
This is one of the first times a qualified opportunity fund is available directly through brokerage accounts.
Belpointe REIT recently announced that it began trading on the OTCQX under the symbol BELP. This is one of the first times a qualified opportunity fund can be bought and sold directly through an investor’s brokerage account. BELP, also known as “The Opportunity Zone REIT,” is accessible through all online brokerages.
“We are very excited to be able to bring a qualified opportunity fund to the public markets,” says Brandon Lacoff, CEO of Belpointe REIT. “Highly tax advantaged and private equity style vehicles like these are not typically available through the retail channels.”
In February 2019, Belpointe REIT decided to be a traded company.
“What Uber did to the taxi business is what we are doing to the real estate business,” explains Lacoff. “We know we are changing the way real estate is invested. It’s open for everyone and it’s also easy to buy.”
The minimum investment is $100. There are no investor servicing fees, acquisition or disposition fees. There is an annual management fee of 0.75%, and carried interest of 5%, Lacoff told GlobeSt.com.
— Check out Congresswoman Wants to End Opportunity Zone Program on ThinkAdvisor.