Belpointe REIT Inc. has a Main opportunity in downtown Sarasota

A Greenwich, Conn.-based real estate investment trust formed to take advantage of a federal law aimed at spurring economic development in disadvantaged areas intends to build some 400 apartments and new retail space at Sarasota’s Main Plaza.

The affiliate of Belpointe REIT Inc. bought a majority of the office and retail complex on 8.6 acres downtown for $20 million, from a pair of local investment groups, BBC Plaza LLC and Biter Buildings LLC.