On July 9th, Kenedix announced the successful completion of a public offering and issuance of real estate security tokens (STs) targeting rental single-family homes (SFH).
This initiative was conducted in partnership with Nomura Securities, SMBC Trust Bank, and BOOSTRY.
Kenedix made history in August 2021 by becoming the first company in Japan to conduct a real estate Security Token Offering (STO), utilizing STs to raise capital.
Concurrently, the company has been advancing the investor-oriented sale of its Kolet series of rental SFHs since the same year.
Sample Kolet rental SFH courtesy of Kenedix.
This recent endeavor integrates these two ventures, representing the 12th issuance of real estate STOs, with a focus on the Kolet series.
The issued STs encompass 484 rental houses (462 properties) located in the Greater Tokyo Area. (Tokyo, Kanagawa, Chiba and Saitama prefectures).
These properties have been organized into a trust, with trust beneficiary rights serving as the trust assets.
The securities information is managed on a blockchain-based real estate ST platform.
The total value of the real estate beneficiary rights is approximately 20.7 billion yen, with the issuance totaling around 9.2 billion yen.
The operation period is set for 5 years and 1 month.
With this latest public offering, the total asset size of real estate STs managed by Kenedix's group companies has reached approximately 140 billion yen.
Further Reading:
Kolet STO Press Release by Nomura Securities (Japanese only)
Source:
R.E. Port News (Japanese only)
Kenedix STO Fund Page (Japanese only; outlines existing inventory around Greater Tokyo)
