Property tokenization platform simplifies real estate investment using blockchain technology
Miami, FL, USA – 9 May, 2019 – RealT, the innovative new platform aiming to simplify global access to U.S. real estate tokenization and investment, has launched with the announced offering of its initial residential property in Detroit, Michigan, as well as ambitious plans to expand to other U.S. cities in the coming year.
The platform will also eventually function as a marketplace for current homeowners looking to tokenize and sell their own real estate assets. Powered by Ethereum, RealT offers legally compliant ownership of tokenized real estate, providing investors around the globe with a more efficient route into the U.S. property market and providing asset holders with direct access to liquidity.
Commenting on the launch of the platform, Rémy Jacobson, RealT’s CEO, said,
We are excited to launch RealT, a state-of-the-art financial tool for real estate tokenization and investment, which will facilitate the sale of residential properties in the United States. The real-estate market desperately needs a shake up, with current limitations including laborious documentation processes, siloed markets, and high costs all acting as barriers to entry to investment, particularly for those living in other countries.
By tokenizing property ownership, RealT is simplifying the buying and selling process and opening up investment opportunities to a more diverse pool of investors from markets across the globe while also allowing homeowners to unlock the liquid value of their assets. We believe tokenization enables a worldwide marketplace for real estate investment, and it is the next step in the evolution of the industry.”
RealT’s platform operates by utilizing a Delaware series limited liability structure where each series is treated as if it were a separate legal entity. Each series is represented by RealTokens and acts as a bridge between a token-owning individual and a piece of real estate property. Ownership of any or all RealTokens gives an individual actual ownership and a number of governing rights over that series and, therefore, over the specific property owned by the series. Investors decide how many RealTokens to purchase and, based on token share, collect rental revenue from the tenant of the property.
RealT also plans to open its platform to individuals who wish to access the value of their own real estate assets through tokenization.
To launch the platform, RealT has chosen Detroit, Michigan, as the first city where it will offer tokenized property investment due to its comparatively low property prices and vast potential for growth. After decades of urban decay, new investment is now driving urban regeneration in the area. Improving real estate liquidity, RealT will enable investors to engage in fractional ownership of Detroit homes and generate passive rental income. To analyze the value of real estate and opportunities for growth RealT’s team closely monitors the Capital Improvement Plan (CIP) for cities around the United States. In this way, RealT aims to provide users of its platform with access to properties that provide significant investment potential.
The recent influx of investment into Detroit, most notably a $4.5 billion USD injection by Fiat Chrysler that will preserve and add up to 5,000 jobs in the city, is emblematic of a period of renewed growth. RealT is proud to be among those contributing to the continued redevelopment of the city by offering a means of foreign investment into the Detroit housing market which will help to further develop the economy and drive urban renewal efforts. We’re delighted to launch our platform in the Renaissance City and contribute to its ongoing revitalization. We’re also planning on expanding to additional U.S. cities later this year and are passionately committed to making U.S. property investment a more realistic prospect for individuals around the world,” concluded Jacobson.
For more information, visit the RealT website at http://realt.co/