Downtown Sarasota apartment towers reach leasing milestone

A Main Street apartment complex in downtown Sarasota has achieved a milestone as it aims toward stabilization. Aster & Links is now 90% leased, according to Belpointe OZ, the publicly traded qualified opportunity fund that developed the property. Belpointe OZ, which trades on the NYSE American under the ticker symbol OZ, opened the two apartment towers on Main Street at Links Avenue in 2024.

“Approximately 90% leased is a number that tells you everything about where Aster & Links stands today,” Belpointe OZ CEO Brandon Lacoff says in a statement. “The property now sits on the doorstep of stabilization, and that milestone matters well beyond the leasing office.”

The 424-unit mixed-use luxury apartment community includes floorplans ranging from one to four bedrooms. It also offers townhome-style penthouse apartments and six guest suites. The ground floor of Aster & Links encompasses more than 50,000 square feet of commercial space, anchored by Sprouts Farmers Market. Other tenants are OfKors Cafe, Isabel Boutique, ServisFirst Bank, SkinSpirit, Pause Studio, Embers Pilates and Atelier + Design.

In October 2025, Belpointe OZ secured a more than $204 million loan to refinance Aster & Links, saying a portion of the proceeds went toward refinancing existing debt while the remainder was earmarked to support the continued lease-up and stabilization of Aster & Links. At that time, the complex was 50% leased. By February 2026, officials said the complex was 70% leased.

Now, Belpointe OZ expects Aster & Links to achieve stabilization between late 2026 and early 2027.

After achieving stabilization, Belpointe OZ plans to refinance the property into long-term, fixed-rate Fannie Mae or Freddie Mac agency debt, the statement says, and it expects to begin distributions to unitholders in 2027, subject to board approval, compliance with loan covenants and maintenance of adequate reserves. 

Greenwich, Connecticut-based Belpointe OZ has more than 1,000 units in its development pipeline across three cities, representing a projected gross asset value of over $1 billion. It has also developed Viv, an apartment complex in St. Petersburg.