Southern Realty Trust Provides $56.4 Million Mezzanine Financing for 650,000+ SF Multi-Family Community

Southern Realty Trust Inc. (“SRT” or the “Company”) today announced that it originated a mezzanine loan in the aggregate amount of $56.4 million for Aster & Links (the “Project”), 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, which has attractive supply/demand fundamentals and strong population growth in recent years.

The Sponsor is Belpointe PREP, LLC (NYSE American: OZ) (“Belpointe OZ”), a Connecticut based real estate investment firm that specializes in developing properties in federally designated opportunity zones. The borrower was advised by Lantern Real Estate (www.lanterncompany.com). With expected completion in the second half of 2024, the Project is comprised of two distinct luxury 10-story residential buildings with over 51,000 square-foot of ground floor retail anchored by a nationally recognized grocer with over 400 stores in 23 states. The Aster & Links complex includes 424 apartments and 778 parking spaces for multi-family and retail components.

“We are excited to support Belpointe OZ’s development of Aster & Links, a project that we believe will become a vibrant hub for commerce and community in Sarasota,” said Brian Sedrish, Chief Executive Officer of Southern Realty Trust. “Strategically, we believe investments in Class A multi-family real estate have the potential for stable cash flow and strong risk-adjusted returns.”

About SRT
SRT was formed in 2023 to originate commercial real estate (“CRE”) debt investments in the Southern U.S. and provide capital to high-quality borrowers and sponsors with transitional business plans collateralized by top-tier CRE assets with opportunities for near-term value creation, as well as recapitalization opportunities. SRT intends to create a diversified investment portfolio, targeting first mortgages, B-notes, mezzanine loans and debt-like preferred securities across CRE asset classes. For additional information regarding the Company, please visit: www.theSRTgroup.com.

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