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Smartlands’ First Tokenized Securities Offering is Underway
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The first tokenized securities offering through the Smartlands Platform is officially live. The offering features a newly built student housing complex located in Nottingham, UK.
The Tokenization of a Nottingham-based Student Complex on Smartlands Explained
Smartlands is a regulated platform with plans to become a major home of Security Token Offerings (STOs).
The platform’s very first securities sale is currently in progress. The sale features tokenized investments in a Purpose-Built Student Accommodation (PBSA) in Nottingham, UK.
The PBSA features 124 student apartments which are located within walking distance of Nottingham Trent University.
Construction of the property was completed in Q3 2018, and it is fully occupied for the current academic year.
The private offering is currently underway, with a minimum investment of 25,000 GBP. A public offering will commence on May 6th, with a minimum investment of 1,000 GBP.
According to the website, PBSAs typically make for a strong and stable investment. The featured case provides dividend income— more than 6% expected per year— as well as capital growth.
While Smartlands is actively pursuing a Multilateral Trading Facility (MTF) license, they are currently leveraging their stake in Shojin Property Partners. With a crowdfunding license issued by the UK Financial Conduct Authority (FCA), Shojin Property Partners is a real estate investment firm with the legal ability to perform such an offering.
The Implementation of Security Tokens Explained
The PBSA on Smartlands is not the only student housing complex to undergo tokenization.
In November 2018, Harbor announced the first-ever tokenization of a REIT in the United States. The REIT featured a $20 million offering featuring ‘The Hub’, a student residence in South Carolina, USA.
Numerous real-world assets have experienced tokenization, including equity, investment funds, exchange-traded funds, real estate, and even fine art.
While the ICO has come and gone, security tokens offer a compliant method of integrating the benefits of blockchain technology with real-world assets.
What do you think of the first securities sale on the Smartlands Platform? Will Smartlands become a home of Security Token Offerings in the future? We want to know what you think in the comments section below.
Image courtesy of Smartlands.
Tim Fries
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
