A Fort Worth-based developer is using a real estate blockchain platform to raise funds for its multi-million dollar Tarrant County residential project.
Serene Country Homes Group has contracted with MGI who has made the token offering with the help of an ACCHAIN blockchain tool for digitization financing, according to a press release.
Serene Country Homes’ first digitized project will add 2,385 homes worth $655 million to the Sendera Ranch residential community near U.S. Highway 287. Construction on the homes is set to begin in the next 18 months, Matthew Carreon of Serene Country Homes told The Dallas Morning News.
“I am thrilled that our group is at the forefront of ushering the real estate industry with the introduction of RET.”
Dirk Foo
Real Estate Token has been introduced as the company’s digital token platform for fundraising with the hopes of minimizing the new community’s development time while benefiting possible property investors with liquidity from the finished project.
“Blockchain is a groundbreaking technology that will change the economic landscape and revolutionize industries the way industrialization shaped the 18th and 19th century,” said Serene Country Homes President and CEO Dirk Foo in the release.
“I am thrilled that our group is at the forefront of ushering the real estate industry with the introduction of RET.”
The company has said the blockchain fundraising is currently open and ongoing. It has also announced the creation of Asset Collection Coin, which will allow for a variety of regions to contribute and exchange on the platform.
“This is the first of many projects we are hoping to launch in the RET ecosystem. As we expand to more markets, RET will help us to realize our goal of bringing affordable homes to more families in North America,” Foo said.
Update Monday, June 19 5:23 p.m.: A previous press release regarding Serene Country Homes and the launch of a digital asset token called RET, erroneously stated that Serene Country Homes was launching or offering the tokens. This was incorrect. The offering is being made by MGI with the help of ACCHAIN, exclusively to non-US citizens or residents. Serene Country Homes has contracted with MGI to build the homes in Serene Sendera Ranch and to manage, sell, and lease homes for the group. Serene Country Homes will be the exclusive contractor and developer for the development project, but is not involved in the offering of the tokens.
Serene Country Homes Group plans to add 2,385 homes to the Sendera Ranch community. [Photo: Courtesy of Serene Country Homes Group]
The Hills of Windridge, another community being developed by Serene Country Homes Group. [Photo: Courtesy of Serene Country Homes Group]
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