One of the major shortcomings of the widely spread $162 trillion global residential real estatemarket is that it lacks in institutional discipline and creativity. In order to systemize the process of acquiring, repairing and reselling the distressed residential assets, a California-based company Aperture has launched a new project called ‘Property Coin’.
Property Coin serves as an exclusive gateway to participate in a token that is backed by a professionally managed portfolio of uncovered loans and real estate using Aperture’s proprietary technology platform. The aim of this project is to revitalize neighborhoods and promote affordable housing thereby delivering profits and value appreciation to the investors.
Created and Managed by Aperture
Aperture is a real-estate technology company with years of expertise in professionally managing the acquisition, réhabilitation and disposition of the residential real estate. The company has two major areas of business operations:
- Trading of residential properties (“flips”)
- providing loans to other property investors (“investor loans”)
In the past, the Aperture team holds a varied experience in closing real estate transactions worth over $150 billion, while flipping over 300 properties, and origination of over $10 billion of mortgage loans.
Additionally, the company is said to have made some huge investments in developing its sophisticated, data-driven and proprietary technology systems that can easily help them identify potential assets for acquisition.
Aperture claims that its technology system helps to identify, analyze and score an estimated of over 1000 properties in a single day.
Working of Property Coin PCX
The Property Coin has been designed in a way to foster the growth of Aperture’s existing real estate business by using the right mix of proprietary technologies, market analysis, and human expertise in order to capitalize on the investment opportunities in this huge real estate market.
Aperture will use all the capital raised from the Property Coin ICO to grow its loan origination and property investment business. It does this by investing all the ICO amount in loans and real estate owned through the Property Coin purchasing entity (PCX, LLC and affiliates).
The PCX coin holders will have some stake in all the properties owned by Property Coin. They will also be entitled to 50% of the net profits from the loans and property investments. Aperture will re-invest those retained profits into new real-estate schemes while creating a natural price-appreciation effect for the coin holders.
The experienced team of professionals behind the creation of Property Coin includes:
- Matt Miles who is the co-CEO and primarily looks after all the investment and capital funding activities at Aperture
- Andrew Jewett who is the co-CEO responsible for all the day-to-day activities at Aperture
- Dan Goldman – Head of loan operations and looks after the loan origination business at Aperture including all sales and operations functions.
- Rudy Cortes – Head of flip operations at Aperture and looks after property acquisition, rehabilitation and disposal activities at Aperture
- Pat Fogarty is the CTO who looks after the overall designing, development and working of Aperture’s technology program.
Property Coin Token Sales
The total number of authorized Property Coin tokens are 21 million.
The Property Coin ICO will go live in May 2018 and will be active throughout the month. One can buy Property Coin PCX tokens in exchange for fiat currencies like the U.S Dollar as well as with other digital currencies like Bitcoin and Ethereum tokens.
The initial price of PCX has been set to $50. Early backers of the project will be receiving the following discounts:
- Feb 26 – March 31, 2018…………………………. 20% discount
- April 1- May 12, 2018………………………………10% discount
- On or after May 13, 2018 ………………………….Full price
Further information regarding the Property Coin project can be obtained through the official whitepaper.