tZERO, the global leader in
blockchain innovation for capital markets, announced today that it
has partnered with Alliance Investments, a UK-based
direct-to-developer real estate investment company, to provide
technology services to tokenize Alliance Investments’ River Plaza,
a 180-unit luxury residential development that is located in
Manchester, UK. River Plaza is the UK’s first real estate-backed
security token offering (STO) and the first project of Alliance
Investments’ real estate tokenization plan to tokenize
approximately $640 million of real estate projects across the UK
over the next several years.
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River Plaza, a luxury real estate
development in Manchester, UK. (Photo: Business Wire)
Alliance Investments intends to tokenize at least $25 million of
the value of River Plaza. The River Plaza STO will be digitized
using tZERO’s tokenization technology and Megalodon’s advisory
services and issued on the Tezos Blockchain. River Plaza’s security
tokens will provide investors with liquidity through tZERO’s
secondary trading technology, which powers the alternative trading
system operated by PRO Securities, LLC, a subsidiary of tZERO. The
STO is expected to launch in Q1 of 2020.
tZERO CEO Saum Noursalehi stated, “We believe that asset
tokenization will revolutionize the real estate sector. We applaud
Alliance Investments for spearheading one of the world’s first real
estate-backed security token offerings. Tokenization of real estate
will democratize access and greatly enhance liquidity for this
asset class.”
According to a 2016 Savills World Research
Report, real estate is the largest asset class in the world,
valued at $217 trillion, which represents about 60% of all the
world’s assets. While this market is greater than the value of all
stocks, shares and stocks combined, it is one of the most difficult
asset classes to invest in. Only one third ($81 trillion) of the
global real estate asset are readily investible at scale, with the
rest not being accessible to public investors in a meaningful
way.
A real estate-based STO is the process of issuing digital equity
securities in a holding company that owns the real estate asset.
More generally, security tokens can be structured to represent a
variety of ownership and economic interests in an underlying asset,
such as equity in a company that owns the asset, an interest in
debt secured by the real estate, a stream of income based on cash
flows from the asset or an interest in the capital growth of an
off-plan project, to name a few.
Alliance Investments CIO Rani Zahr said, “We view tZERO as a
leader in blockchain innovation and asset tokenization solutions
and are excited to partner with them on our first STO. We strive to
stay ahead of the innovation curve and believe that security token
offerings are the future. They are more efficient, cost-effective,
autonomous and democratic in comparison to traditional financing.
We hope to continue to collaborate with tZERO to see out our real
estate tokenization plan.”
Alliance Investments’ real estate tokenization plan to tokenize
approximately $640 million of real estate projects will occur over
the next several years in all parts of the UK with projects ranging
from residential and student accommodation to commercial and
hospitality properties. The River Plaza building is scheduled to
complete in Q3 of 2022. For more information about River Plaza,
visit www.riverplazamanchester.com.
tZERO is a technology firm that was founded in 2014 with the
goal of utilizing blockchain technology to revolutionize Wall
Street so that financial processes no longer need to rely on
traditional institutional market structures in favor of using
blockchain to bolster and enhance market integrity. tZERO is a
keiretsu company of Medici Ventures, the blockchain subsidiary of
Overstock.com, Inc. (NASDAQ:OSTK).
Investor Notice Investors should note that trading
security tokens could involves substantial risks, including no
guarantee of returns, costs associated with selling and purchasing,
no assurance of liquidity which could impact the price and ability
to sell, and possible loss of all the principal invested. Further,
an investment in single security token could mean lack of
diversification and, consequently, higher risk.
No Offer, Solicitation, Investment Advice or
Recommendations This release is for informational purposes only
and does not constitute an offer to sell, a solicitation to buy, or
a recommendation for any security or token, nor does it constitute
an offer to provide investment advisory or other services by
Alliance Investments, tZERO, The Tezos Foundation and Megalodon or
any of their respective affiliates, subsidiaries, officers,
directors or employees. No reference to any specific security or
token constitutes a recommendation to buy, sell or hold that
security or token or any other security or token. Nothing in this
release shall be considered a solicitation or offer to buy or sell
any security, token, future, option or other financial instrument
or to offer or provide any investment advice or service to any
person in any jurisdiction. Nothing contained in this release
constitutes investment advice or offers any opinion with respect to
the suitability of any security or token, and the views expressed
in this release should not be taken as advice to buy, sell or hold
any security or token. In preparing the information contained in
this release, we have not taken into account the investment needs,
objectives and financial circumstances of any particular investor.
This information has no regard to the specific investment
objectives, financial situation and particular needs of any
specific recipient of this information and investments discussed
may not be suitable for all investors. Any views expressed in this
release by us were prepared based upon the information available to
us at the time such views were written. Changed or additional
information could cause such views to change. All information is
subject to possible correction. Information may quickly become
unreliable for various reasons, including changes in market
conditions or economic circumstances.
About Alliance Investments With 30 years of experience in
UK’s property development sector, Alliance Investments are renowned
for their ability to deliver some of the most outstanding and
exciting developments across the country. Alliance Investments have
an extensive award-winning property portfolio, covering everything
from residential and office developments, to industrial and hotel
sectors. With a team of industry experts, investors have come to
know Alliance Investments as specialists when it comes to
delivering luxury concepts and high-quality finishes. For more
information, please visit: https://alliance-investments.com/.
About tZERO tZERO Group, Inc. (“tZERO“) is a majority
owned subsidiary of Overstock.com, focusing on the development and
commercialization of financial technology (FinTech) enhanced with
cryptographically-secured, decentralized ledgers – more commonly
known as blockchain technologies. Since its inception, tZERO has
pioneered the effort to bring greater efficiency and transparency
to capital markets. For more information on tZERO, please visit:
https://www.tzero.com/.
tZERO is not a registered broker-dealer, funding portal,
underwriter, investment bank, investment adviser or investment
manager, and is not providing brokerage, investment banking or
underwriting services, recommendations or investment advice to any
person, and does not provide any brokerage services. tZERO takes no
part in the negotiation or execution of secondary market
transactions for the purchase or sale of securities and at no time
has possession of investor funds or securities in connection with
such transactions.
About PRO Securities, LLC PRO Securities, LLC is a
broker-dealer registered with the U.S. Securities and Exchange
Commission and a member of Financial Industry Regulatory Authority
and Securities Investor Protection Corporation. More information
about PRO Securities may be found at https://finra.org/.
About Tezos Tezos is a blockchain that evolves by
upgrading itself. Stakeholders vote on amendments to the protocol
to reach social consensus on proposals, creating a secure and
organic upgrading system. The protocol's on-chain governance
system, Proof-of-Stake (PoS), and ability to facilitate formal
verification, make Tezos an ideal long-term solution for digital
transactions, including smart contracts and security tokens.
The Tezos Foundation supports the development and long-term
success of the protocol and ecosystem. For more information on
Tezos, please visit: https://tezos.com/. For more information on the
Tezos Foundation, please visit: https://tezos.foundation/.
About Megalodon Megalodon is a financial consultancy
firm. The firm is specialized in legal and fintech advisory
focusing on digital securities. For more information, please visit:
https://www.megalodon.ae/.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191030005153/en/
Media Contact: tZERO Alexandra Sotiropoulos,
+1-347-293-1416 asotiropoulos@tzero.com Investor Contact:
tZERO Michael Mougias, +1-347-293-1248
mmougias@tzero.com
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