According to an AssetBlock news release published on Sept. 17, the company has partnered with luxury hotel asset manager Lodging Capital Partners (LCP) to tokenize $60 million of exclusive hotel properties on Algorand.
Opening real estate investment to everyone
CEO and founder of AssetBlock Mike Liddell said:
“We created AssetBlock because the modern economy was in need of modern technology. We saw an opportunity to build a solution that brings traditional and non-traditional real estate investors and professionals together efficiently, creating more opportunities for all involved.”
A notable partner
Liddell also claimed that LCP “has invested in a portfolio of properties valued at more than $1.5 billion and continues to deliver strong performance.” Principal and co-founder of Lodging Capital Partners Steve Kisielica said:
“Our partnership with AssetBlock opens up LCP to a new investor pool which allows us to fundraise and expand our business more efficiently. […] To remain competitive in an ever-changing landscape, it’s vital for the real estate investment community to embrace technology like blockchain that is pushing the industry forward.”
AssetBlock also says that it will continue to add additional real estate partners and properties, with further announcements to follow.