Jointer.io, a commercial real estate blockchain startup, called its offer to purchase the 77-story iconic Chrysler Building for 1.5 Billion dollars by using a new model of tokenization a “missed opportunity.” Jointer submitted its offer for the iconic New York City landmark on February 25, and while the centralized and privatized offering process is closed, Jointer’s decentralized technology – was rejected.
Jude Regev, Jointer’s CEO
“In recent weeks, as major corporations have announced their intentions to embrace tokenization, it’s a shame that the organizations involved in the sale of the Chrysler Building do not have the foresight to see the value of our new tokenization model,” said Jointer’s CEO Jude Regev, referring to JPMorgan and Facebook’s recent announcements that they will issue their own stablecoins. “We see this as a missed opportunity for all involved in determining the fate of this exceptional property.”
Jointer’s new tokenization model is designed to help property owners unlock up to 100% of their equity, and if the owner chooses to stay as a Principal to manage the property, they are also eligible for asset management fees plus 50% from Jointer’s future profits from the property – which can boost ROI significantly. This offer was included to the current owners of the building, allowing them to see returns on their initial investment. The iconic building’s current owners purchased the tower in 2008 for $800 million and hold a 90 percent stake of majority ownership.
“We help property owners unlock up to 100% of their equity and can keep them in the game like they still own the property. From a risk and profits point of view, our new tokenization solution can generate the property owner and investors better ROI than any purchasing, refinancing, or investment vehicle out there” said Jointer’s CEO Jude Regev, “everyone tokenizes a property, we tokenize the entire industry.”
Jointer is the world’s first digital tokenization company to offer property owners the opportunity to unlock their equity for free and at the same time allows the public to invest in commercial real estate without having any exposure to specific property.
David Weild, the former Vice Chairman of the NASDAQ and one of Jointer’s advisors says that “Jointer’s new tokenization approach presents a better solution that has the potential to disrupt the real estate industry.”
Established in 2017 and based in Silicon Valley, CA and Tel Aviv, Israel, Jointer is a leader in commercial real estate blockchain solutions. Jointer is developing a free end-to-end public tokenization platform to provide clients with liquidity for their equity. The company’s platform helps property owners instantly unlock their equity at zero cost.