Gnosis
Ethereum
The first property RealT ever tokenized: a multi-family rental in Detroit's Warrendale neighborhood. Tokens represent membership interests in the LLC that owns the property; net rent is distributed to holders weekly in stablecoins. A living piece of RWA history that still pays rent every Monday.
The original tokenized rental property: weekly rent on-chain since 2019.
Prism analyst note
Appoline is the proof-of-concept that never stopped working: six-plus years of weekly on-chain rent distributions. Economics are those of a Detroit working-class rental: double-digit gross yield, real exposure to vacancies, repairs and local market drift, and thin secondary liquidity on RealT's markets and Gnosis DEXs. Valuation marks update annually; treat price as appraisal-based, not market-discovered.
Generated from issuer disclosures and reviewed against the sources listed below. Not investment advice.
Structure & compliance
- Underlying
- Multi-family rental property, Warrendale, Detroit MI
- Legal structure
- Series LLC membership interests (Reg D/Reg S)
- Jurisdiction
- United States (Michigan property, Delaware series)
- Custodian
- Property held by LLC; property management by RealT partners
- Administrator
- RealT (rent collection & distribution)
- Oracle / NAV source
- Annual third-party property valuation
- Reserve information
- Token value tracks appraised property value; rent distributed weekly net of management, taxes, insurance and maintenance reserve.
- Transfer restrictions
- KYC-verified holders; US persons under Reg D, non-US under Reg S; transfers via whitelisted wallets.
- Investor eligibility
- Retail investors (KYC)
- KYC required
- Yes
Reserve verification
Contracts & on-chain data
Addresses shown only where independently confirmed against explorers and issuer documentation. Holder and transfer analytics are available via the linked explorers. 1.1K+
Documents & disclosures
Frequently asked
How is rent paid?+
Net rent is distributed weekly in stablecoins to token holders, pro rata.
What happens if a tenant leaves?+
Vacancy reduces distributions until re-let; RealT's property managers handle leasing and maintenance.
