Sol RE launches real estate STO ‘Ravenwood Heights’ on Tezos. Ravenwood Heights is a $25,247,500 STO on Tezos with an estimated levered IRR of 23.9%.
United States, May 11, 2021 /AlexaBlockchain/ – Sol RE has teamed up with TIC Capital to launch a $25 million real estate STO ‘Ravenwood Heights’ on Tezos blockchain.
Ravenwood Heights is a $25.25 million STO on Tezos with an estimated levered IRR of 23.9%. The current property occupancy rate is at 98%, which results in a ‘healthy continuous cash flow’.
Ravenwood Heights is a 240-unit upscale rental townhome community in Tempe, Arizona. It was built in 2009 on a former golf course, with an expansive green belt running through the heart of the community.
This creates a unique outdoor amenity space that can be enjoyed by residents year-round. The resort-style swimming pool sits above the greenbelt, providing an open feel and elevated views.
Other community amenities include a 24-hour fitness center, a one mile walking path, resident clubhouse with social lounge, outdoor barbecue and gaming areas and shaded children’s playground.
Sol RE tokenizes real estate, which means that the value of real estate property is registered on the blockchain. This value of the property is represented by a fixed amount of tokens.
This means that if a property is worth $500,000.- and the total supply is 500,000 tokens, then a single token is valued $1.-.
These tokens are tradeable and the blockchain registers the ownership of each token.
Since the value of the tokens are backed by the value of a real-world property and the STO space is heavily regulated, it can be considered as a relatively safe investment just like a traditional investment in real estate.
Holders of the tokens will receive revenue that comes from rental income.
These tokens are considered security tokens (STO’s), which means that they can only be traded if strict regulations are followed. The regulations are embedded in smart contracts, which allows regulations to be enforced automatically.
To be able to trade STO’s, users must be verified through Know Your Customer (KYC) and Anti Money Laundering (AML) procedures.
“A tidal wave of liquidity is coming for the most real asset on Earth. Owning fractional shares in institutional-grade real estate with Sol RE will soon be as easy as logging into your bank. We are seeking great relationships with accredited and non-accredited investors alike as we reimagine the future of real estate investment.” – Sol RE
Sol RE introduces the ambassador role on their platform. People who have contacts that might be interested in a great real estate investment deal, can apply for this role.
“We’re growing a Sol RE Ambassador team who can help us grow the Sol RE family, and participate in the rewards. Sol RE Ambassadors will be the foundation of the Sol RE brand, and face to the world.
Become knowledgeable about our Real Estate investment focus, and learn, grow, and earn with us in the revolution of tokenized assets.”
There will be Sol Ambassador ‘social’ accounts that are handled separately from the investor portal. Users will have to pay a $50.- yearly fee to become an ambassador.
Sol RE is also considering offering the option to buy an NFT type of membership where the NFT is your memberships card.
Sol RE is also exploring if it is possible to utilize NFT’s in a broader way in the STO space. For example by connecting NFT smart contracts to accounts of KYC-ed investors.
“In the long run, we believe we will be owning Real Estate with NFT’s. There is some legal headway to be made with that, but we feel it may naturally go in that direction.”
Sol RE Partners Vertalo
Sol RE has partnered with STO giant Vertalo.
Vertalo has been a pioneer in developing security token solutions in compliance with regulators. Founded by Dave Hendricks, William Baxter, and Guatam Gujral, the team covers an expansive array of expertise across technology, business and legal compliance.
This allows Sol RE to put more focus on sourcing great real estate investments for our customers, and benefitting from a fast growing tokenized security trading ecosystem that Vertalo and other pioneers have laid the foundations for.
Vertalo has recommended Tezos as blockchain of choice for the STO.
Source: XTZ News