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A building worth $134M in Zurich Sells through Cryptocurrency

Investors in Cryptocurrency can now relax and have a piece of the lucrative real estate business with one of the multi-million dollarĀ  Zurich buildings sold with the deal sealed using digital tokens.BrickMark, a Swiss-based real estate investment company, is the most recent one to unlock the bricks and mortar property value using digital coded tokens in one of the most prominent blockchains triggered investment ever witnessed in the world, with a sale of more than 134 million U.S.dollars.

Investors will get the chance to purchase and trade the digital tokens that ultimately represent individual ownership shares of the building without the usual real estate investment hassle. Located within the Zurich city center in Switzerland, the property in the limelight occupies about 1600 square meters of land within this highly demanded retail district. 

With the current situation, space is vastly utilized by private offices, with only less than 15% used for retail space on the ground floor. Redevelopment to redesign individual sections of the property is amongst the new owners’ plans to increase retail space in the next two years. The adjustments are expected to increase the yearly rental income by more than double figures without limiting the existing office space and capacity. 

Those interested in investing in the new token-based property will be assured of cash-ins on the building’s expected increase in rental income, and benefits from any property value rise. With the building location status being one of Europe’s most valued financial hubs and one of the most luxurious shopping boulevards, it is beyond doubt a high-quality investment worth considering. 

Stefan Rind, the  BrickMark CEO in a most recent statement, stated that the company was breaking new ground for the real estate industry as it has carried out a token-financed transaction never experienced before. There is the finalization of a deal worth  11 million Euro of Cryptocurrency transaction by WeCan, a company based in Geneva, which has been in place over two properties in Portugal. This is amidst plans for more similar purchases throughout Europe. 

The purchase has positioned BrickMark as the world’s top-most blockchain real estate investment company. The company believes that a token-based investment that is digital assures investors of higher transparency and compliance standards. With their recent acceptance to the membership of the European Public Real Estate Association(EPRA), BrickMark is expected to perform by the International Accounting standards and practice guidelines and must develop a governance code sticking to global investor standards for Institutions. With the 134 million dollar injection into the system, plus more plans for a bigger purchase, BrickMarks are the companies to watch in the future of cryptocurrency.