US property manager tokenizes multifamily properties on Chintai blockchain
Patel Real Estate Holdings (PREH) has initiated a $100 million tokenization fund on the Chintai blockchain, targeting accredited investors for institutional-grade real estate investments. The PREH Multifamily Fund focuses on vintage Class A multifamily units in the top 20 US growth markets. The fund is part of a larger $750 million investment vehicle developed with institutional partners like Carlyle and KKR, with $25 million of the allocation set to be tokenized on Chintai. The tokenization aims to enhance transparency and liquidity in private market placements. PREH, established in 2010, manages a portfolio of Class A multifamily properties and has executed over $500 million in transactions. Chintai, a layer-1 blockchain, supports the R3 Sustainability Fund and is designed for tokenizing real-world assets. The trend of real estate tokenization is gaining momentum, with forecasts predicting $4 trillion in tokenized real estate over the next decade.
