Ethereum-based real-world asset (RWA) tokenization platform Blocksquare has partnered with a Florida-based real estate company to offer fractional ownership in a pipeline of US commercial properties valued at over $1 billion.
Blocksquare and Vera Capital said a marketplace would launch in the coming weeks to enable global investors to buy tokenized shares in “dozens of properties” located across seven US states.
The first tokenized properties that will be up for grabs are part of Vera Group’s existing holdings, which include a three-storey office building in Fort Lauderdale and a retail plaza in Dania Beach, according to two properties listed on Vera Capital’s website.
“All our assets are already part of the group, so with the Vera Fund they’ve already been purchased, and they are owned by us, managed by us and we are only improving them,” Vera Group CEO Nick Polyushkin said.
Vera Capital is a subsidiary of Vera Group, which also runs a South Florida real estate agency, real estate management company, and a real estate investment fund with over $100 million invested through commercial property acquisitions, land development and residential developments.
“This is ambitious numbers if you’re looking at this from the perspective of residential use in investments, but from a commercial standpoint, this is a very realistic number and not just achievable, it’s over-achievable,” he said.
Blocksquare CEO Denis Petrovic said once the Vera Group partnership was in progress, Blocksquare started to research to “see if the framework we have from Luxembourg will also be applicable for the US.”
“There’s always the option obviously of launching tokens directly without the Luxembourg entity getting involved, but just having it there it’s an additional convenience for a marketplace based out of the US like Vera Group,” he said.
Join our community of 200,000+ real estate leaders and get weekly insights and updates with our newsletter.
*Offer ends on Friday, 7th February.
