London Chelsea Limited is partnering with SolidBlock, a digital securities issuance and trading platform, to raise financing for London Digital Bond, a new property fund that invests in prime residential real estate. SolidBlock will begin its global fundraising on July 1 for London Digital Bond by issuing digital security tokens, which are tradable assets that can be bought and sold exactly like conventional securities. The offering will be available to global investors starting from €10,944 (£10,000).
“This is the first time a single-family fund will be financed through blockchain-based securities,” said Yael Tamar, co-founder of SolidBlock. “We are creating a digital age financial instrument that provides the stability and upside potential of prime London residential properties, combined with the flexibility of trading on a top digital securities platform.”
“Cross-border residential real-estate investment is marked by inaccessibility and inflexibility,” said Ramon Vega, head of investments at London Chelsea. “Today’s investors don’t want their money locked in, and they need more choice in terms of which properties they wish to invest in. Blockchain-based securities enable exactly that, and we believe they will have a significant impact on our industry.”
“More recently, one of the side effects of the Covid-19 pandemic has been the onset of digital transformation in a variety of traditional industries such as real estate, and London Chelsea together with SolidBlock is leading this trend in the UK,” Tamar said.
