Valued at $224 million, the St. Regis Aspen is a trophy property and a luxury destination located in Aspen, Colorado. An equity raise of the property in August 2018 brought in $94 million with a cap rate of about 5.8 percent. This was executed in conjunction with a regulated Security Token using Reg D – 506 (c). It’s one of the first cases of tokenizing a commercial real estate property.Guests included: Stephane De Baets, Founder and President of Elevated Returns, Jeffrey Davis, Senior Managing Director of JLL’s Hotels & Hospitality Group, Jay Bernstein, Partner at Clifford Chance, and Henry Elder, Founder of Digital Assets Advisors.
This LIVE, MULTI-CITY WEBINAR first aired on January 16, 2019. If you missed this broadcast or would like to watch it again, please click the link below.
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Stephane De Baets is the Founder and President of Elevated Returns, an asset management company that manages assets across a range of service industries. Mr. De Baets founded Elevated Returns, which is the majority owner of the St. Regis Aspen Resort.
Jeffrey Davis is Senior Managing Director of JLL’s Hotels & Hospitality Group and co-heads the Hotel Capital Markets team responsible for overseeing all investment sales, debt and equity placement in the Americas.
Rick Kirkbride is a partner in the Real Estate practice of Paul Hastings and is based in the firm’s Los Angeles office.
Henry Elder specializes in asset tokenization, blockchain strategy, and project management through his company, Digital Asset Advisors.
Jay L. Bernstein is a partner at Clifford Chance. He is the former chair of the Clifford Chance capital markets group and now heads the REIT and specialty finance practices.