Belpointe PREP: Tokeneke Road prepays $5.1 million note, ending conversion right
On October 22, 2026, Tokeneke Road repaid in full the $5.0 million loan made by subsidiary BPOZ Tokeneke, paying $5,114,904.11 including $114,904.11 of accrued interest, and the convertible note was terminated with no early termination penalties. The payment was funded by a Related Party tied to the Chief Executive Officer's family, which received 352,753 Class A units of Tokeneke Partners and now holds about 71% of those units, and the Conflicts Committee and disinterested directors approved the prepayment.
Key points
- Prepayment on October 22, 2026 totaled $5,114,904.11: $5,000,000 principal plus $114,904.11 accrued interest.
- The note bore 3.6% annual interest, was due March 3, 2028, and could convert into Class A units at $14.50 per unit; the conversion right ended with the prepayment.
- The Related Party contributed $5,114,918.50 to Tokeneke Partners for 352,753 Class A units at $14.50 per unit and now holds about 71% of outstanding units.
- The Conflicts Committee and disinterested Board members approved the prepayment; the Company's letter agreement of January 6, 2026 was not affected.
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 23, 2026.
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