The sale, currently underway, aims to raise £1.0M GBP ($1.2M USD) for a 30% equity share in the property. Smartlands predicts the expected returns to be in the range of 15.72% over the project’s 36-month term. The minimum investment for the public offering is £500 GBP ($607.77 USD), with premium services offered to those that invest £25,000 GBP ($30,388.88 USD) or more during the private offering.
The student housing property in Nottingham contains 124 student apartments. Two universities are located within walking distance of the property, making it a high-demand location for students. The project is already at maximum capacity for this term, having just completed construction in the second half of 2018.
Both firms recently announced their new partnership which aims to allow Smartlands-issued STOs to trade on the Archax security token exchange. As part of the partnership, Archax and Smartlands will promote and market one another via prospective clients and on their platforms.
Matthew Pollard, CFO and Co-founder of Archax, went on to say:
“We’re building a regulated venue that will list regulated instruments. As part of building that venue and building our business, we want to know that we have an exciting pipeline of quality assets that we will list on our regulated venue. Engaging in partnerships with exciting companies, like Smartlands, is a very natural part of our strategy, because we want to have the best quality assets on the venue to attract customers to our venue. That’s why we’ve done this, and we see the work that Smartlands has been doing in London. We see the attention to detail, especially around the regulatory framework of the offering and we knew that they would be a great partner to sign up, so that we can have their current offering, and future offerings, to be listed on our venue.”
In addition to the Nottingham PBSA offering, Smartlands has also revealed their new fully-compliant wallet which allows for on-chain trading of security tokens on Stellar.