Real estate technology platform OwnProp, a Rex company, is expanding into the Atlanta metro market. The platform fractionalizes multifamily and commercial real estate deals by using blockchain technology.
“Having successfully tokenized Austin’s first property and now proven market by closing multiple fully funded offerings, it’s no surprise that OwnProp is growing nationally,” Rex founder and Executive Chairman Peter Rex said in a release. “With high investment minimums and illiquidity, the most lucrative real estate investments are out of reach to 92 percent of potential investors, but OwnProp is changing that.”
OwnProp’s technology and platform fractionalizes real estate, enabling low investment minimums, faster investing and direct access to liquidity by trading ownership tokens on the secondary marketplace, according to the company. Each property listed on OwnProp includes financial breakdowns, a digital data room and property specific details for each offering.
“We know that investing in real estate is a time-tested way of generating wealth and the moment has come to make that more accessible,” OwnProp co-founder, CEO and Blockchain Engineer Ethan Blumenthal said. “The traction we’ve seen is very exciting. We know the demand is there and by expanding to a proven market like Atlanta, we’re growing to meet that demand.”
OwnProp plans to expand into additional markets by year’s end.