Disruption in the CRE industry has become an increasingly important topic. In fact, PricewaterhouseCoopers (PwC) has been covering real estate in Canada/U.S., Europe, and Asia for the last 40 years* through their exhaustive research and reports. In their most recent global summary report, Emerging Trends in Real Estate®: The Global Outlook for 2018, they rang the bell about disruption:
“Those [real estate] companies unwilling or unable to embrace change risk being left behind permanently.”
Disruption caused by co-working space vendors (WeWork and others), and PropTech companies that strive to improve operating efficiencies are some of the forces of change that are being discussed in the Commercial Real Estate (CRE) landscape.
In late 2018 / early 2019 we may be witnessing the emergence of a new disruptive force related to CRE investing. Alternative financing mechanisms have included equity crowdfunding and peer to peer lending – but now there is a new effort underway to leverage “Security Tokens” for both debt and equity financing of real estate. Security tokens are digital investment mechanisms that are regulated, for example, by the Securities & Exchange Commission (SEC) in the United States. Proponents say security tokens hold the promise of improving liquidity for traditionally illiquid assets such as real estate – potentially via cross-border trading and investing on a global basis.
CREST is about covering and facilitating CRE investing that will be powered by security tokens. Participants in this industry will include traditional companies such as developers, operators, owners, brokers, lenders and investors -- as well as new companies such as security token companies for primary issuance and secondary trading. We will be covering the activity in this industry through:
Our background in covering the general, cross-industry security token movement has been through the Security Token Academy. The Academy has already become the leading organization in covering the industry through expert insight in its educational online videos, and at its in-person conferences in New York City (June and October 2018). Our multi-million dollar, state-of-the-art video studio in Los Angeles, Calif., has enabled the creation of multi-city, live and on-demand online video coverage of the security token industry – including security token expert interviews and panel discussions.
Supported by corporate members such as Merrill Lynch PBIG (a division of Bank of America), Clifford Chance and the leading security token technology and infrastructure companies, the Security Token Academy is now extending its coverage into Commercial Real Estate (CRE).
Join us to keep updated on case studies of CRE tokenization, and the latest information on CRE investing powered by security tokens.
*40 years of PwC Reporting on Canada/U.S. Real Estate.
Partner, Clifford Chance
Director of Real Estate Capital Markets at Harbor
Co-founder and Managing Partner at Fifth Wall
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