Pinnacle Storage to List $100M of Assets on New Blockchain Platform
Earn.re is building a blockchain-based CRE financing platform that offers equity and debt investment opportunities.
New York, NY—Pinnacle Storage Properties plans to list more than $100 million of self-storage properties on a forthcoming blockchain-based commercial real estate financing platform called Earn.re. Besides listing the properties, Pinnacle Storage is also a project sponsor for the platform, which is scheduled to launch in late 2019.
Based in Katy, Texas, Pinnacle Storage Properties is a privately held national acquirer, owner, operator and developer of self-storage facilities with a portfolio of 20 properties totaling more than 1 million square feet.
“We are pleased to have secured the commitment of an experienced sponsor with a strong track record of success and increasing momentum,” said Aaron Lohmann, CEO of Earn.re.
Designed to connect lenders and accredited investors directly with project sponsors, Earn.re is building a platform that offers equity and debt investment opportunities in the platform’s participants. Launched 9 months ago, Earn.re generates a security token that reflects a fractional ownership stake in a debt or equity instrument verified within the blockchain. Each token is programmed to automatically compute and distribute returns to the investor’s private crypto wallets.
Once created, Earn Debt and Earn Equity tokens can be traded on the Earn.re exchange, similar to how stocks and bonds are traded, in what is one of the early CRE industry’s digital secondary markets for debt and equity securities. Through the exchange and in compliance with regulatory requirements, Earn.re plans on bringing liquidity to CRE financing.
Earn.re’s platform will be offering debt and equity securities backed by most property types including multifamily, retail, self-storage, industrial, government and hospitality.