PropertyCoin Launches Initial Coin Offering for Security Token backed by Real Estate

Aperture’s PropertyCoin initial coin offering kicked off yesterday as the company seeks to marry blockchain and real estate backed investments. Property Coin is said to be the first opportunity to own a professionally managed real estate portfolio using Ethereum.

Based in Los Angeles, Aperture is a real estate tech and lending company. The company focuses on the fix and flip space claiming they have delivered over 50% un-levered IRRs to date.

The ICO is hoping to raise up to $50 million for the security token. A total supply of 21 million tokens will be minted with 16.8 million coins available for sale. A portion of the tokens, 4.2 million, are reserved for issuer (subject to vesting and performance hurdles). PropertyCoin has partnered with tZero so expect the security to trade on the ATS at some point in the future.

The Aperture team says they are screening about 1,500 properties per day and see many attractive investment opportunities.

Aperture founder and CEO Andrew Jewett told CI last month;

“… we see the future of structured finance in ICOs / Tokens and visa versa.  There is going to be a massive shift in both the traditional finance world and in the ICO world and we want to be right in the middle of it as pioneers who helped lead the way.”

The ICO is being offered under Reg D 506c and Reg S to accommodate foreign investors. There is quite a bit of discussion right now that blockchain in the real estate sector is a perfect match of technology and securities due to the low friction environment created and the high degree of transparency.

PropertyCoin / Aperture has provided an infographic to bullet out some information regarding the real estate market.

 

 


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