First Blockchain Commercial Mortgage: Retail Corner, SLS Lux
BPN Capital Group Announces First Blockchain-based Commercial Mortgage Executed at Miami’s Iconic Flagship Retail Corner SLS Lux Brickell
The event is to announce the first commercial mortgage to be done using blockchain technology. The collateral is located at the Iconic SLS Lux Brickell in Miami, FL, the announcement will happen on May 28th, 2021 at 7:30 pm ET, which provides accredited investors with a stake in a commercial rental property.
MIAMI, FL, May 26, 2021 (GLOBE NEWSWIRE) — BPN Capital Group announced today the first-ever blockchain-based commercial mortgage associated with a property in the iconic SLS Lux Brickell in Miami, FL. The tokenization of this property will allow accredited investors to directly hold and control their stake, eliminating the restrictions associated with investing in commercial mortgages through conventional channels.
The collateral of this tokenization is the Flagship retail corner situated at the base of the SLS Lux, a 57 story, 450 unit premier residential condominium and hotel tower. Located on the northeast corner of S Miami Avenue and SE 9th Street, one block away from Brickell City Centre and across the street from Mary Brickell Village.
“This is like the moon landing for blockchain,” said Mr. Edward Rodriguez, CEO of BPN Capital Group. “We are tokenizing a first-in-class fully stabilized property with sophisticated tenants like Chipotle, Ojo de Agua, Kaori, and Bellillo. We are restoring control to accredited investors and family offices over their assets. This also circumvents the hoops they’d have to jump through to invest in commercial mortgages like this on the secondary market.”
BPN Capital Group will offer tokens associated with the commercial rental property to investors who qualify under the US Securities and Exchange Commission’s Regulation 506(c). Following the mandatory one-year holding period, investors will be able to sell or trade their tokens just like any other registered security.
Furthermore, the tokenization of the property means investors are not locked into long-term ownership as they would be with conventional bonds, which take years to mature. Instead, investors can trade their tokens on the SEC and FINRA-regulated Alternative Trading Systems, tZERO. The Tokenization of assets is the process of issuing a blockchain token that digitally represents a real tradable asset, This tokenization is a security token traded on an exchange which means investors can part with a small portion of their stake while retaining some of their investment.
“Historically, if you wanted to sell 5% of your holdings, you’d have to call a broker or an accountant or someone like me who would then do a quantitative risk analysis before putting your assets back on the market,” Rodriguez said. “Tokenization puts investors in the drivers’ seat and lets them sell their holdings directly and easily, as they see fit.”
Finally, blockchain ensures an accurate, transparent record of all transactions that occur on the ledger. There is always a trail of whatever was changed, when, why, and by whom. This transparency revolutionizes the investment and lending spaces, which have long been considered opaque and inaccessible to the uninitiated.
“We are proud to be tearing down old walls and democratizing the world of investing and lending,” Rodriguez said. “Society shall embrace these structural changes because things will never go back to what they were before. This is the future, and we’re proud to be part of this historic moment.”
About BPN Capital Group
BPN Capital Group is a DeFi multi-service Firm powered by a network of professionals, and which utilizes Blockchain and NFT technologies. The company is dedicated to developing real-world use cases for this new revolutionary Blockchain technology, that includes the tokenization of hard assets for improved accessibility to lending, investing and ownership.
Founded in May 2019, BPN Capital Group was built on the proposition that Blockchain and NFT technology is highly beneficial but underutilized due to lack of accessibility and real-world use cases. BPN Capital Group’s mission is to solve such problems and help lay the groundwork for mass adoption of Blockchain solutions in the business world. BPN Capital Group does this through hard asset tokenization, commercial lending, and referral agent membership programs.
Phone: (201) 222-1001