blockimmo announces first white label partnership with USA based Bricks + Mortar Group introducing Cannabis Real Estate Security Tokens (CREST)
Zug, 22nd of March. — blockimmo, a blockchain powered startup on the verge of becoming the go to marketplace for real estate tokenization, has signed its first ever white label contract with the Bricks + Mortar Group. Through the brand SproutRE, a licensed digital platform for cannabis real estate auctions & services, Bricks + Mortar Group has an exclusive license to sell fractional interest in qualified properties to investors internationally.
Cannabis zoned real estate is the primary focus of the marketplace as it is a premium commodity that can reliably support enhanced valuations for related hard assets (real estate) and increased ROI through the utilization of bleeding edge technology (cryptocurrency & blockchain) to realize improved efficiencies, transparency, and liquidity. This partnership provides a simple, compliant, and lucrative means for investors to participate in the cannabis industry without being involved in any “hands-on-plant” activities which carry a substantial risk.
Starting from the 9th of April, investors will be able to participate in a regulated fund specifically holding diversified cannabis real estate assets with a target preferred return of 12%. Investors will receive Cannabis Real Estate Security Tokens (CREST) which represent their shares of the fund (in accordance with Delaware General Corporation law Sections 151(f), 202(a), 219(a), 219(c), 224, 232(c) and 364) and that enable them to receive dividends easily through the SproutRE platform. The initial raise is capped at $30M, the funds from which will be used to acquire A+ locations around Michigan to lease to well qualified tenants from around the world.
Bricks + Mortar Group is the top cannabis real estate brokerage in the state of Michigan. With a unique integration of technology and real estate, they utilize big data to create enhanced GIS visualizations and source prime locations. Current banking issues in the cannabis industry set a high barrier to entry in regard to sourcing required capitalization (no standard loans are available), which creates a high demand for the option to lease facilities prior to purchasing. Bricks + Mortar Group has created a substantial dataset on the Michigan cannabis real estate industry, providing the information needed to source locations with high returns and minimal risk. While the platform will initially only offer properties managed by SproutRE, the technology will soon be offered to the general public allowing interested parties to sell their own cannabis properties on the platform.
Through the development of proprietary software, they have already managed to gain substantial market share in one of the hottest regions to legalize marijuana. Partnering with the team at blockimmo opens up a whole new set of possibilities that will allow them to continue to scale nationally.
Richard Goodman, Director of Information Technology at Brick + Mortar Group, said: “With recreational sales recently legalized, and the commercial regulated market coming online in Michigan, there is a huge demand for certified cannabis real estate. Operators are desperate to get up and running so they can quickly meet the massive amount of consumer demand. Because the state has not placed a cap on the total number of licenses they will issue, this is an extremely unique, and potentially profitable, market for investors. However, qualified locations are limited and require an extensive amount of due diligence. The SproutRE Seed Fund provides a diversified investment allowing people to participate in the cannabis industry with no experience, limited risk, and without any ongoing responsibilities. We have a saying around the office that has become a motto when explaining the CREST: #It’s a different kind of hash. There’s the hash that gets you high, and this is a hash for increased ROI.”
As part of the licensing agreement, blockimmo has provided Bricks + Mortar Group with a seamless, turn-key, customized solution that resulted in the further development of the SpourtRE platform. The security tokens (CREST) are based on the smart contracts powering blockimmo (which recently tokenized and transacted a first real estate property in Switzerland). The platform enables investors to onboard in a fast and user-friendly way (US: accredited investors / International: all that pass the required AML and KYC checks). The investors then get added to an on-chain whitelist, ensuring regulatory compliance and protection as securities are being offered.
Bastiaan Don, Founder and Managing Director of blockimmo commented: “With our first white label deal we could not be happier to be delivering our technology and services to the Brick + Mortar Group. We are providing a unique range of propositions tailored to the specific requirements of the real estate + cannabis market in the USA — executing our desire to rapidly expand internationally. We see this venture as a long-term partnership creating benefits for both investors and real estate owners across the whole country.”
“The design, build and integration of the white label service requires almost no involvement from the client, making the service easy and fast to get up and running.” blockimmo’s Bastiaan Don adds: “Being able to announce such a stand-out client win at launch underlines the strength of our approach.”
blockimmo will be announcing more white label partners shortly and is expanding its dedicated team in coming months.
About Bricks + Mortar Group
Bricks and Mortar Group, LLC, is a women owned and operated real estate brokerage, operating exclusively in the cannabis market. Founded in 2015, the team at Bricks + Mortar has been on the forefront of the emerging industry in Michigan. From advising local municipalities to tracking legislation and identifying target retail markets, they have been an influential piece of the evolution of the industry. — bricksmortargroup.com
About SproutRE
SproutRE is a subsidiary of Bricks + Mortar Group. The company was created to help solve transparency issues involved in cannabis real estate transactions by utilizing proven technologies during the sales process. Through the CannaBID online auction, properties are offered for sale with verified records, all transactional processes digitized & automated, and communication between buyer and seller is streamlined to increase efficiency during the deal. Through the Wholesale Option Exchange, property “flippers” are offered a marketplace to sell their contracts, while buyers are provided with access to properties they would otherwise never have access to. The coming launch of CREST provides fractional ownership opportunities for regulation D and S investors, with plans to offer membership interest to non-accredited investors via crowdfunding in the near future. — sproutre.com
About blockimmo
blockimmo is a blockchain powered startup on the verge of becoming the go to marketplace for real estate tokenization. Our regulatory compliant ecosystem enables fractional property investments and ownership. Properties are officially and legally represented as security tokens on the Ethereum blockchain. We partner with financial institutions and other strategic partners in different countries to enable and grow the cross-border market. Operating out of Switzerland, blockimmo is focused on facilitating an accessible, streamlined real estate market, while delivering value to our users one step at a time. Ultimately resulting in a global real estate market far more efficient than the stock market today. — blockimmo.ch
Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “may”, “believe”, “thinks”, “expect”, “exploring”, “expand”, “could”, “anticipate”, “intend”, “estimate”, “plan”, “pursue”, “potentially”, “should”, “will” and similar expressions, or are those, which, by their nature, refer to future events. These statements, which involve risks and uncertainties, relate to the discussion of Glance’s business strategies and its expectations concerning future operations, sales, new products, new licensing arrangements and other information that are based on forecasts of future results and estimates of amounts not yet determinable. For additional information with respect to these and other factors and assumptions underlying the forward looking statements in this press release, see the section entitled “Risk Factors” in the most recent Private Placement Memorandum, which may be accessed through the SproutRE platform at www.sproutre.com. SproutRE cautions investors that any forward-looking information provided by SproutRE is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
