Tokenization from Paris

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Tokenization of Villa AnnA – Europe's first real estate sale using blockchain (June 2019)

Introduction

In June 2019, a historic real estate tokenization transaction took place in France. Villa AnnA, a residence in the Boulogne-Billancourt district of Paris, was sold entirely via blockchain technology, making it the first such property in Europe. Equisafe completes First Ever Blockchain Real Estate Sale for €6.5 Million – UNLOCK Blockchain. The luxury building, worth €6.5 million, was purchased by two French real estate companies: Sapeb Immobilier and Valorcim.

Blockchain technology and the type of network used

The transaction was carried out using Ethereum blockchain technology. The investment platform Equisafe, which acts as a digital investment bank, managed the entire tokenization and sales process. Equisafe completes First Ever Blockchain Real Estate Sale for €6.5 Million – UNLOCK Blockchain. Ethereum is a public, open blockchain network, which means that transactions are recorded on a public, distributed ledger.

Number and name of tokens issued

A dedicated special purpose vehicle SAPEB AnnA was established for the tokenization of the villa AnnA. The capital of this company was divided into 100 digital shares (tokens) which represented 100% ownership of the property. La Blockchain de luxe s'attaque à l'immobilier – Quantstreams.

Sales structure and transaction mechanism

The transaction structure combined traditional legal procedures with the innovative use of blockchain. The process was as follows:

Transfer of the property to a special purpose vehicle: First, the ownership of the AnnA villa was transferred to SAPEB AnnA by notarial deed. Neo Investment Bank Equisafe Updates On First STO AnnA, Plans 15 Security Tokens In The Next 9 Months | Crowdfund Insider
Tokenization of company shares: The company's capital was divided into 100 tokens encoded in smart contracts on the Ethereum blockchain.
Transfer of tokens to buyers: All tokens were transferred to the buyers, SAPEB Immobilier and Valorcim, via blockchain.
Blockchain registry and documentation: Documents such as the notarial deed were encrypted and placed on the blockchain as immutable proof of the transaction. Blockchain Used for First Major Real Estate Sale in Europe | Nasdaq.
Security and compliance mechanisms: AnnA tokens had a one-year lock-up period, which ensured the stability of the project in the initial phase.

Summary

Institutional investors: Two French companies, SAPEB Immobilier and Valorcim, took part in the transaction. They received 100% of the digital real estate shares (tokens). Europe's first ever real estate sale completed via the Blockchain – CoinBeat. Individual investors: Individual investors did not participate directly in the initial sale. However, by dividing the tokens into micro-shares, it will be possible to offer them to a wide range of investors on the secondary market in the future. La Blockchain de luxe s'attaque à l'immobilier – Quantstreams.

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