Too Long; Didn't Read
In September 2010, Stephane De Baets bought the St. Regis Aspen Colorado Hotel for $ 70 million in September 2010. He bought the 5-star hotel from the hotel, invested another $ 50m into the renovation program and gave Starwood a 50-year management contract subject to performance. DeBaets is now launching the first real estate tokenized real estate investment trust, a real estate asset tokenization, in October of 2019. He says it is one of the first trophy asset tokenizations where effectively there was an offering document and there was a placement.