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Smartlands Closes Sale of Tokens for Student Block in Nottingham

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Smartlands has announced the successful completion of its pilot security token offering for a block of PBSA in Nottingham.

The investment target was reached during a private placement of security tokens as beneficial interest in shares of student accommodation that was last valued in September 2018 at £12.06m.

The Smartlands Platform raised enough capital to buy 30% of Winrise One Limited, the company that owns the property, with the balance being held by the developer Windermere Capital investments Ltd and Shojin Property Partners.

Commenting on the pilot, CEO Arnoldas Nauseda said that whilst the investment period is three years, there may be an opportunity for investors to trade their Tokens once a secondary trading platform is launched.

Smartlands Platform is a Worldwide Security Token Issuance Platform designed to bring together token issuers and investors by creating blockchain-based securities backed by digital ownership of shares in multiple asset classes.