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Who's Actually Tokenizing Real Estate Right Now

  • Writer: Trevor Lambert
    Trevor Lambert
  • 5 days ago
  • 3 min read

Monday's piece showed how the tokenization rails work for private capital. Here's a look at who's applying that infrastructure to real property right now.


The Tokenization Gap named the pattern: KKR, Apollo, and Hamilton Lane have shown tokenized capital works at billions in scale, in private equity and private credit. Real estate is earlier in that curve, and Starwood's Barry Sternlicht has pointed to U.S. securities treatment, not technology or investor appetite, as the thing still catching up. This piece is the other half of that story: a look at the platforms already applying tokenization to real property today, from retail-facing apps to institutionally-regulated offerings, and what their different structures say about where this market is headed.


The retail-facing core

E-Estate is where this beat started, I came across the Panama-based platform on while posting on TFIB's own Facebook page. Founded by CEO Brandon Stephenson and Co-Founder Mike Hamilton, E-Estate issues EST tokens on Binance Smart Chain with a $10 minimum entry, and reports 11 tokenized properties, from a Miami apartment to a Hawaii villa, with investor reach across a stated 50+ countries. Per its 2025 annual report, portfolio value stood at $104.6 million by year-end 2025, rising to a reported $152.3 million "actual value" as of January 1, 2026.


RealT is one of the most widely cited platforms in U.S. residential tokenization, paying rental income to token holders in stablecoins. RealT's own site reports 65,000+ registered investors and $29 million+ in income distributed to date. Coverage of RealT's total property count and portfolio value varies by source and publication date, reflecting how quickly the platform has scaled since launch, for the most current figures, RealT is the best source to confirm directly.


Lofty runs on Algorand a $50 minimum, daily rental income paid in USDC, and token-holder governance votes on property decisions. As of its April 2026 review, CrowdfundedWealth reports 150+ tokenized properties, roughly $99 million in total value locked, 7,000 monthly active users, and $5.2 million in cumulative rental distributions through 2025.


Reental is the strongest cross-border play of the group: built on Polygon, reporting 41,959 users across 108 countries, 119 tokenized projects, and $100 million+ in tokenized volume as of June 2026. Active in Spain, the U.S., Mexico, and Latin America, genuinely the closest fit to TFIB's own frontier-market framing of the group.


The institutional tier

SolidBlock did this first. In 2018, it structured the "Aspen Coin", an $18 million raise to fund renovations at the St. Regis Aspen Resort, as a Reg D 506(c) offering for accredited investors. By 2020 that expanded into a $150 million listing on the INX securities trading platform. It's an early legal blueprint for tokenized real estate structured as a formal securities offering, distinct from the consumer-app model of the retail platforms above.


RedSwan CRE focuses on commercial real estate, office, retail, multifamily, and operates through its own registered broker-dealer, RedSwan Markets LLC, a FINRA/SIPC member. RedSwan reports $4 billion in tokenized assets and a $5.2 billion pipeline on its own site, and in 2023 landed an assignment to tokenize a 36-property, $4 billion Gulf-region portfolio, institutional scale with no direct retail-platform equivalent in this list.



Where this is headed

Together, these six platforms show real estate tokenization moving from concept to product: retail platforms proving there's genuine consumer demand at low minimums, institutional players proving the model scales to billions under full securities compliance. As the regulatory picture Monday's piece described continues to develop, the frontier operators best positioned to benefit are the ones with clean title and clear income documentation ready to plug into whichever of these rails matures fastest.


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