It has a total portfolio of more than 1 million square feet of self-storage
July 29, 2019: A Houston-based self storage development and management firm Pinnacle Storage Properties, operates more than 10 self-storage facilities in Texas, intends to list more than $100 million in storage assets on Earn.re, a blockchain platform for commercial real estate financing designed to connect lenders and accredited investors directly with project sponsors. Pinnacle will also be a sponsor.
Earn.re began “off-platform” capitalization nine months ago and is expected to begin live trading during the third quarter. It’s powered by an Ethereum public blockchain.
“We are pleased to have secured the commitment of an experienced sponsor with a strong track record of success and increasing momentum” Said by Aaron Lohmann, CEO of Earn.re,
The platform will offer equity and debt-investment opportunities. Earn.re will generate security tokens that reflect an investor’s fractional ownership stake verified within the blockchain. Each token will automatically compute and distribute returns to investors’ private cryptocurrency accounts. Earn Debt and Earn Equity tokens will be moveable on the Earn.re exchange, similar to how stocks and bonds are traded.
Earn.re will offer securities backed by several property types including government, hospitality, industrial, multi-family, retail and self-storage.