Bringing Crypto Home: Exploring Trends in Tokenized Real Estate

that's great great background and before we'll spend most of this conversation talking about the tokenization crypto aspect of things maybe before that you guys are boston-based The properties that you've begun acquiring are Boston based.

Curious, like, how did you think to go after a specific market segment being small multifamily properties in particular? And then I assume the Boston piece is just you're based in Boston.

You know the market well.

Maybe you find it an attractive market as a starting place.

Yeah, happy to take the first stab there.

So first, of course, Boston is an amazing market and we love being here, but we're also now in other cities and states as well.

We just expanded to Providence and we'll be expanding into new markets over the next year or two.

Really, when we think about the real estate asset selection, it is all solving backwards from our mission statement.

Groma's goal is to be the real estate coin.

We want to enable everyone to own a bit of the world around them.

and that's been the goal chris and i have been working on for almost five years now if you state that as the north star we want everyone to own a bit of the world around them there's a bunch of things that become precedent conditions right we have to own and operate a lot of real estate in order to enable everyone to own a bit of it with us with that we started looking at well what are asset classes where we could start buying real estate intelligently delivering an above market return because if it's not profitable for our investors we're not going to be able to get the flywheel running actually deliver better experience to our residents who we hope will end up becoming not only our renters, but our investors.

And sometimes this fun thing, we'll talk more about rent vesting where they can turn the rent to ownership.

And we needed an asset class met a couple of very unique criteria to be extremely sizable, you know, trillions of dollars of value accessible over time.

It had to be roughly distributed.

across the country and the world.

If we're just buying New York skyscrapers, right, the model's not going to work in Louisiana or elsewhere.

It had to be bite-sized, a billion dollars.

We've raised a quarter of a billion dollars, but that's taken time.

So we had to be able to step into it in bite-sized increments.

And we very clearly had to be able to run it better with technology, right? That's all of our backgrounds.

When you put all of those together, it kind of gives you a nice Venn overlap of this wonderfully overlooked asset class of small and mid-market unstaffed multifamily rentals in dense urban cores.

That's a lot of descriptors to put behind a real estate asset class.

But when you zoom in on that, that's 90,000 buildings in Boston.

It's 20,000 buildings in Providence.

It's another 400,000 buildings in New York.