MarketSpace Capital’s “The Spot @ Myra Park”
Becomes First Tokenized Multifamily Asset in Texas
DALLAS – March 7, 2022
MarketSpace Capital is developing “The Spot @ Myra Park”, which is a 250-unit, age-restricted (55 and above), independent living facility, on approximately 6.103 acres in Farmers Branch, Texas. The City of Farmers Branch, a suburb of Dallas, has experienced continuous rapid growth over the past decade. In addition to a variety of food and shopping options, the site is located within five miles of three movie theaters, two golf courses, two Walmart locations, the Dallas Galleria shopping mall, and a Storage Choice. The project is highly in demand due to the rapid growth occurring, and expected to continue, in the area over the coming several years related to the demographic trends and need for senior housing. Farmers Branch population growth was over 8.2% just last year alone.
Based in Houston, Texas, MarketSpace Capital is a real estate private equity firm that has invested in over 20 ground-up developments and value-add investments throughout the U.S. totaling over $480 million of assets under management. The Spot @ Myra Park is a 250-unit active adult living community expected to be completed in Q4 2022 and is MarketSpace Capital’s first real estate digitization project. The equity interests in the Spot @ Myra Park are digitized utilizing DigiShares’ tokenization services, which are built on the Ethereum blockchain, and commenced trading on the tZERO ATS on March 7, 2022. tZERO ATS is a wholly owned subsidiary of tZERO, a leader in blockchain innovation and liquidity for digital assets, which operates an organized and automated marketplace, providing a licensed venue for the trading of digital securities. The Spot @ Myra Park marks the first tokenized multifamily asset in the state of Texas and the first ground up real estate development project on tZERO ATS.
MarketSpace Capital Co-Founder Sohail Hassan shared, “We are thrilled to trade the Myra Park securities on the tZERO ATS, unlocking liquidity and democratizing access to commercial real estate assets. This project is just the beginning of our work in digitizing MarketSpace Capital’s investments, as we plan to continue to digitize additional real estate investments in the future.” The Spot @ Myra Park will become the first tokenized multifamily asset in the state of Texas.
tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today that trading of digital securities representing equity in The Spot @ Myra Park, a multifamily development project in Dallas, Texas being developed by MarketSpace Capital, has commenced on the tZERO ATS. This will be the first security to commence trading on tZERO ATS following the launch of its self-clearing operations, illustrating that functionality is key to scaling at a quicker pace and increasing the velocity of asset onboarding.
Investors with an account on tZERO’s retail broker-dealer subsidiary, tZERO Markets, are now able to trade the Myra Park digital security. Investors looking to open a tZERO Markets brokerage account should visit https://www.tzero.com/investors/register.
Alan Konevsky, tZERO’s Executive Vice President and Chief Legal and Corporate Affairs Officer, noted, “We are pleased to expand our private digital securities offering to investors with the addition of the Myra Park digital security. The real estate space continues to see the value of tokenization, and we look forward to working with MarketSpace Capital on its future digitization plans.”
About MarketSpace Capital
MarketSpace Capital is a private equity real estate firm focused on ground-up developments and value-add investments throughout the U.S. Through its relationships, expertise and disciplined, data-driven analysis, MarketSpace Capital’s veteran staff has completed over $1 billion in transactions and has the capability and experience required to maximize value creation through a comprehensive, programmatic, and conservative investment and asset management approach. In addition to producing consistent returns, MarketSpace Capital seeks to create positive economic impact and long-term value for its investors, the properties it invests in, and the communities in which it works.
About tZERO ATS
tZERO ATS, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. More information about tZERO ATS may be found at https://brokercheck.finra.org/. Digital securities that trade on tZERO ATS are conventional uncertificated securities. Ownership of such securities is reflected on the traditional books and records of regulated market participants. The term “digital” or “digitization” refers to the blockchain technology elements of a security that are intended to enhance investor experience through added transparency.
About tZERO Markets
tZERO Markets, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. More information about tZERO Markets may be found at https://brokercheck.finra.org/. Digital securities available on tZERO Markets’ platform are conventional uncertificated securities. Ownership of such securities is reflected on the traditional books and records of regulated market participants. The term “digital” or “digitization” refers to the blockchain technology elements of a security that are intended to enhance investor experience through added transparency.
Investors should note that trading securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity, which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in a single security could mean lack of diversification and, consequently, higher risk. Myra Park Investors, LP is treated as a partnership for U.S. federal income tax purposes, which may have unique tax consequences. For more information, please refer to Myra Park’s disclosure statement and tZERO Markets’ disclosure for partnership investments. Potential investors are urged to consult a professional adviser regarding any economic, tax, legal or other consequences of trading any securities as described herein.
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MarketSpace Capital, LLC is a Houston, Texas-based private equity real estate development firm focused on ground up developments and value-add investments throughout the United States.
Disclaimer: *For sold properties, actual sales price is reported. For active investments, the Estimated Current Value is based on the Managing Member’s estimate of current value. Recent acquisitions are generally valued at the acquisition price. Values may be internally prepared. This web-page/website is for informational purposes only and is qualified in its entirety by reference to the Confidential Private Placement Memorandum (as modified or supplemented from time to time, the “Memorandum”) of any offering of MarketSpace Capital.