- Land: Schweiz
Nachricht vom 15.01.2020 | 08:30
BrickMark AG: BrickMark signs purchase agreement for the largest ever real estate transaction paid in tokens of a total volume of over CHF 130 million
DGAP-News: BrickMark AG
/ Key word(s): Cryptocurrency / Blockchain/Miscellaneous
BrickMark signs purchase agreement for the largest ever real estate transaction paid in tokens of a total volume of over CHF 130 million
- BrickMark purchases a prime commercial building from RFR Holding in the heart of Zurich's central business district in a share
- A significant part of the purchase price will be paid in BrickMark tokens
- The premium investment property with 1,600 sqm of space in the heart of Bahnhofstrasse has high redevelopment potential
- The BrickMark real estate portfolio will continue to grow quickly with a pipeline of nealy 1 billion in commercial properties mainly in major cities in central europe
- BrickMark is now positioned as the world's leading blockchain real estate investment firm
- The management team combines the experience of more than a century of real estate investment expertise managing over EUR 15 billion of property assets
Berlin/Zug - 15 January 2020 - BrickMark AG ("BrickMark"), an innovative, high-growth real estate Investment company, today announced that it has signed a purchase agreement about the largest ever real estate purchase using tokens, buying a high profile prime commercial property on Zurich's prestigious Bahnhofstrasse. The transaction volume amounts to over CHF 130 million. The transaction is based on a share deal and initially BrickMark acquired 80% of the shares of Bahnhofstrasse AG with a call option on the remaining 20% within 9 months. The seller of the property is the international real estate investor RFR Holding GmbH ("RFR"). RFR will remain a 20% shareholder in Bahnhoftstrasse AG and will lead the redevelopment process. A considerable part of the purchase price will be paid in BrickMark tokens.
The purchase agreement signed by the two parties opens up new dimensions in terms of the size and institutional character of token-financed real estate transactions. "We are breaking new ground for the real estate industry," said Stephan Rind, CEO of BrickMark. "There has never been a token-based real estate transaction of this magnitude. We are implementing what was once no more than a concept in the real estate industry. This is why it was so important to us that the real estate and transaction partners were of the highest quality and reputation."
Property in a prime location on Bahnhofstrasse - floor space expansion planned
"Bahnhofstrasse is one of the top addresses in Europe", says Rind. "Being able to acquire on favorable terms a top-quality property in this location that offers considerable potential for further value creation is a rare opportunity, especially in today's market environment. We are delighted to have purchased this property from RFR Holding, a renowned institutional real estate investor, in an off-market deal. RFR's interest in innovation in the real estate industry was certainly helpful."
A successful financing round marks the start of further growth with highly profitable properties
Tokenization enables higher standards of transparency and compliance
The BrickMark team comprises well-known and successful real estate managers and investors
"We will combine real estate assets with the benefits of blockchain."
As an innovativor in real estat investment, BrickMark is combining the asset value and profitability benefits of this asset class (with total value greater than the combined value of global bond and stock markets) with the technological possibilities of smart contracts in blockchain and tokenization to create a more efficient, more functional and more fit-for-purpose form of capital designed specifically for the needs of today's global institutional investor
"BrickMark has set out to establish an additional form of capital in the institutional real estate market using blockchain technology," said Stephan Rind, CEO of BrickMark. " We are proud to have carried out the largest transaction to date in the real estate industry worldwide using tokens as a means of payment. In RFR, we have an international transaction partner with a double-digit billion-dollar portfolio of premium real estate, including many classics in the history of architecture. As we have a substantial pipeline of other high-quality properties to add to our real estate investment portfolio, we see this transaction very much as the first stage of our growth trajectory."
Dr. Alexander Koblischek, Managing Director of RFR Management GmbH: "We gladly accepted the Brickmark tokens as part of the purchase price. We assume that digital financial instruments will also significantly gain in importance in the real estate sector in the future. The current transaction may have an icebreaker function for the sector in terms of its volume and institutional character".
Webcast / Conference Call on 15 January 2020
The conference call will take place on 15 January 2020 at 11.15 am. The following dial-in data apply:
You can follow the presentation online under the following link:
Anleihe der German Real Estate Capital S.A. stark überdurchschnittlich attraktiv
Die Anleihe der German Real Estate Capital S.A. weist aktuell eine Effektivverzinsung von ca. 14 % auf. Da es sich hier quasi um eine Immobilien-Anleihe handelt, ist das Anleiherisiko überschaubar. Insgesamt verfügt die German Real Estate-Gruppe über 6 Objekte, 24 Bestands- und 22 Handelsobjekte, womit eine Kombination aus stetigen Einnahmen und attraktiven Entwicklerrenditen erreicht wird. Wir stufen die Anleihe als stark überdurchschnittlich attraktiv ein.
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