The featured property is a Class “A” multi-residential development with 156 units. Ocree said $4 million of equity is being offered to investors via fractional shares.“Investors are not providing debt; they are participating in the equity of the asset,” Ocree CEO Ted Davis told Cointelegraph.“The investors purchase an interest in a limited partnership that invests in the underlying property.”15 Berwick Place in Winnipeg, Manitoba, is the first commercial property listing on Ocree’s platform.
As Cointelegraph reported, Polymesh was selected to tokenize a $2.5 million church in Colorado last summer. “By building on Polymesh’s institutional-grade public permissioned blockchain, we’ve created a platform that benefits both property owners seeking liquidity and investors looking for access to premium real estate opportunities,” Davis said.
Related: Dubai Land Department begins real estate tokenization projectTokenization takes offTokenization, or the process of representing real-world assets on a blockchain, has taken the traditional finance industry by storm in recent years. Major financial institutions such as JPMorgan Chase, UBS, Citibank, HSBC and BlackRock have signaled their intent to offer tokenized products and services.
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