Hospitality centric management company called Elevated Returns announced today the closing of Aspen Digital real estate token sale worth $18M, that will expose investors to the St. Regis Aspen Resort. As part of its expansion to South East Asia, the company said that it would be acquiring 24.9% of Seamico Securities based in Bangkok.
Aspen Digital is one of the first company of its kind to tokenize a trophy real estate successfully. The St. Regis Aspen is an internal resort with a 179-room luxury hotel and four within site beverage and food outlets, banquet venues, as well as 29,000 square feet comprising of outdoor and indoor conference. There are also views of the Rocky Mountains.
The company made the token offering a success using Templum Markets LLC, which is a SEC-registered and FINRA operator for their first offering as well as for their secondary sale of their digital securities using Alternative Trading System (ATS). Together with its parent company, Templum Inc, Templum Markets is focused on building new market platforms to support digital assets. Indiegogo had the offering listed on its platform to give access to its group of investors while leveraging its members and its 11-year experience in the crowdfunding scene.
The president of Elevated Returns, Stephane De Baets said that it is clear that assets are moving to the blockchain and that there is a need for digital currencies to be backed up by some collateral. He notes that these are the early days for this sector in its path to growth, hence the need to supporting sponsors like Elevated Returns to create the required tools for the success of the industry. The need to establish a working ecosystem led the company to bring to board a South Asian broker-dealer who has the capability of wide distribution and one that is able to carry out operations in Thailand, a country that has enacted strict crypto regulation guidelines.
Established in 1974, Seamico Securities offers security brokerage services, derivatives and securities trading, securities underwriting, investment advisory services, securities borrowing and lending as well as online securities trading. This acquisition allows Elevated Returns to tap institutional money in Asia seeking digital asset exposure using Innotech Asset Management, Seamico’s fully-owned subsidiary. Seamico owns a significant part of the South Asian capital markets with strong licenses that will give Elevated Returns authority to grow rapidly in the next few months.
Jason Kirschenbaum, the Director of elevated Returns said that the closing of the Aspen Digital token sale brings a new coin to the market that is asset-backed and creates a blueprint for real estate tokenization in the future. He continued saying that the future of investing in real estate creates a certain level of exposure, public access, transparency, liquidity and openness which are all aspects that can be delivered via the blockchain technology.
As a concluding statement, Stephane De Baets noted that knowledge and ideas that Elevated Returns has collected in the course of this private placement is very valuable to the firm and all its members and partners. It provides a clear direction for what a fully-integrated international system should be as the company moves ahead as the pioneers of this new space.