Exhibit 21
SUBSIDIARIES OF BELPOINTE PREP, LLC
| Subsidiary | State of Incorporation | |
| 800 Davidson, LP | Tennessee | |
| 900 Eighth, LP | Tennessee | |
| 1000 Davidson, LP | Tennessee | |
| 1130 Davidson, LP | Tennessee | |
| 1400 Davidson, LP | Tennessee | |
| Belpointe Investments, LLC | Connecticut | |
| Belpointe PREP Acquisitions, LLC | Connecticut | |
| Belpointe PREP Financing, LLC | Connecticut | |
| Belpointe PREP OC, LLC | Delaware | |
| Belpointe PREP TN OC, LLC | Delaware | |
| BPOZ 17 Cedar Swamp, LLC | Connecticut | |
| BPOZ 800 Davidson GP, LLC | Delaware | |
| BPOZ 800 Davidson QOZB, LLC | Delaware | |
| BPOZ 900 Eighth Common, LLC | Delaware | |
| BPOZ 900 Eighth GP, LLC | Delaware | |
| BPOZ 900 Eighth Holding, LLC | Delaware | |
| BPOZ 900 Eighth Preferred, LLC | Delaware | |
| BPOZ 900 Eighth QOZB, LLC | Delaware | |
| BPOZ 900 First, LLC | Delaware | |
| BPOZ 901 Central, LLC | Delaware | |
| BPOZ 1000 Davidson GP, LLC | Delaware | |
| BPOZ 1000 Davidson QOZB, LLC | Delaware | |
| BPOZ 1000 First Holding, LLC | Delaware | |
| BPOZ 1000 First QOZB, LLC | Delaware | |
| BPOZ 1000 First, LLC | Delaware | |
| BPOZ 1130 Davidson GP, LLC | Delaware | |
| BPOZ 1130 Davidson QOZB, LLC | Delaware | |
| BPOZ 1400 Davidson GP, LLC | Delaware | |
| BPOZ 1400 Davidson QOZB, LLC | Delaware | |
| BPOZ 1700 Main Holding, LLC | Delaware | |
| BPOZ 1700 Main QOZB, LLC | Delaware | |
| BPOZ 1700 Main, LLC | Delaware | |
| BPOZ 1701 Ringling Holding, LLC | Delaware | |
| BPOZ 1701 Ringling QOZB, LLC | Delaware | |
| BPOZ 1701 Ringling, LLC | Delaware | |
| BPOZ 1702 Ringling, LLC | Delaware | |
| BPOZ 1710 Ringling, LLC | Delaware | |
| BPOZ 1718 Main, LLC | Delaware | |
| BPOZ 1750 Storrs Holding, LLC | Connecticut | |
| BPOZ 1750 Storrs QOZB, LLC | Connecticut | |
| BPOZ 1750 Storrs, LLC | Connecticut | |
| BPOZ 1900 Fruitville, LLC | Delaware | |
| BPOZ 1991 Main, LLC | Delaware | |
| BPOZ 1991 Main Holding II, LLC | Connecticut | |
| BPOZ 1991 Main QOZB, LLC | Delaware | |
| BPOZ Davidson Common, LLC | Delaware | |
| BPOZ Davidson Holding, LLC | Delaware | |
| BPOZ Davidson Preferred, LLC | Delaware | |
| BPOZ Storrs Holding, LLC | Connecticut | |
| BPOZ Storrs Road, LLC | Connecticut | |
| BREIT Merger, LLC | Delaware | |
| CMC Storrs SPV, LLC | Connecticut | |
| BPOZ 1000 First Member, LLC | Delaware | |
| BP Mezz 1991 Main, LLC | Delaware |
