BrickMark Signs Record $135M Tokenized Real Estate Deal
By Andrew McIntyre (January 15, 2020, 5:07 PM EST) -- BrickMark has signed a deal to buy a majority stake in a commercial property in Zurich for 130 million Swiss francs ($134.9 million) in what is the largest ever real estate deal funded by tokens, according to the Switzerland-based, blockchain-focused investment firm's announcement on Wednesday.
BrickMark AG said on Wednesday that it's buying 80% of Bahnhofstrasse 52, an office and retail building, and will have an option to purchase the remaining 20% of the property within nine months.
The seller is RFR Holding GmbH, and BrickMark said that "a considerable part of" that purchase price will be funded with tokens....
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