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Meet The Man Who Will Manage The World’s First Blockchain Apartment

26th October, Gibraltar: This December, Brickblock will become the first platform in the world to sell tokenised real estate on the blockchain. It’s the inaugural step of the company’s goal to make investing cheaper, easier, and more secure.

Brickblock’s newest addition, Peter Schott, will manage the first properties sold on Brickblock. Schott boasts 30 years of experience in the real estate and finance sectors, with expertise ranging from investment banking to securitization. Currently, Peter is Managing Director of RSI Group in Frankfurt-Wiesbaden, where he provides comprehensive support in connection with commercial and residential real estate investments and transactions, asset and portfolio management and optimisation, financing, and debt advisory.

His prior banking positions include managing director and head of the securitisation business unit at Westdeutsche Immobilien Bank AG (WestImmo), as well as managing director and head of credit treasury at Aareal Bank AG, both specialized commercial real estate financing banks.

At Brickblock, Schott’s organisation will act as the Portfolio Manager of any real estate transactions within the DACH (Germany/Austria/Switzerland) region. He will be an intermediary between property sellers and the platform, identifying properties that meet Brickblock’s needs and the needs of its users. This includes performing feasibility assessments, conducting due diligence, and supporting all phases of transaction, as well as the ongoing management of the real estate portfolio afterwards.

The first property to be sold on the blockchain will be a 27-unit, 1528-square metre multi-storey apartment in Berlin, which will be for sale through the Brickblock platform in mid-December 2017. Documentation for two more properties to be sold shortly after is currently being drafted.

“In order to offer our clients secure investments with potential for growth, our acquisitions throughout Germany focus on residential buildings in economically vibrant population centres,” says Schott. “With their stable value and yield, rental properties are some of the most secure investments.”

According to current forecasts, the value of apartments and residential real estate is expected to grow over the long term and demand in the German residential market is predicted to remain strong in the future.

Brickblock’s investment process is simple: users choose a property, invest into the property by acquiring tokens reflecting the economics of the property, and earn passive income out of the property. The allocation of the income is achieved by depositing the excess cash flow out of the property into the investor’s Ethereum wallet by means of a smart contract. Schott’s role, as with all Brickblock asset managers, will be to look after all aspects of managing the property that ensure its profitability.

“It is important that all work related to the property – leasing and rental assistance under our supervisory, representation in owner meetings, and other administration tasks – can be delegated to third parties. My team will make sure that investors never have to do any work related to their investment,” says Schott. “This extends to include property and location checks in the acquisition phase through to the preparation of all necessary contracts, financing support, if needed, as well as personal and individual advice.”

Press Contact: Jenny Corlett t: +44 (0) 20 7242 8867 | w: www.aspectuspr.com

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