Real‑estate tokenization has moved from pilot talk to nine‑figure transactions. Five headline deals — spanning the U.K., Switzerland, the U.S. and the UAE — show how prime hotels, offices and even ultra‑luxury villas are being fractionalized into compliant digital securities that widen access and aim to unlock liquidity. As Tokenizer outlines in its analysis of the Top 5 Real Estate Tokenization Deals Dominating the Market, these projects reflect genuine market traction rather than theory.
For readers who want the full breakdown, project links and sources, see Tokenizer’s article: Top 5 Real Estate Tokenization Deals Dominating the Market.
1) The Mayfair Hotel — London, U.K. (~US$600M)
In 2019, technology provider Liquefy partnered with a consortium of Gulf family offices to tokenize equity in a landmark five‑star Mayfair hotel valued around US$600 million, with a broader US$1 billion pipeline signaled. Tokens represent equity interests tied to profit‑sharing, executed through an offshore SPV. The transaction is frequently cited as the largest single‑asset real‑estate tokenization to date — and a proof point that blue‑chip assets can be structured for digital distribution.
Why it matters: A marquee asset, institutional backers, and an equity‑token model aimed at recurring income set a template for future trophy‑property digitizations in major financial centers.
2) BrickMark Building — Zurich, Switzerland (CHF 130M / ~US$140M)
In early 2020, BrickMark acquired a prime commercial property on Zurich’s Bahnhofstrasse for CHF 130 million, paying a significant portion of the consideration in BrickMark tokens issued on Ethereum. At the time, Swiss and international press described it as the largest blockchain real‑estate transaction yet, with tokens linked to shares in the property company — giving investors exposure to rental income and appreciation.
Why it matters: This was not just a token sale but tokens as purchase consideration in a nine‑figure deal — a powerful signal for how digital instruments can function inside conventional M&A.
3) Tower 27 — “T27 Silicoin,” San Jose, U.S. (US$100M)
Dallas‑based developer Alterra Worldwide launched a US$100 million security‑token offering for Tower 27, a planned 24‑story, 374‑unit Class‑A multifamily tower in downtown San Jose. The offer created 100 million T27 Silicoin (T27S) tokens at US$1 each on Ethereum, marketed globally under U.S. securities rules. Local planning coverage noted permits and a planned groundbreaking, while launch materials emphasized income‑sharing and profit participation for token holders.
Why it matters: Unlike many tokenized assets that are stabilized properties, Tower 27 illustrated ground‑up development funding via compliant digital securities, expanding the use case beyond existing cash‑flowing buildings.
4) Palm Jumeirah Villas — Dubai, UAE (~US$50M estimated pilot)
Dubai has moved fastest on government‑backed property tokenization. Under the Dubai Land Department (DLD) pilot launched in March 2025 with VARA and the Dubai Future Foundation, assets — including high‑value Palm Jumeirah villas — can be fractioned into tradable digital shares recorded on a government‑verified blockchain. Official materials and subsequent coverage outline ambitions for tokenized transactions to reach AED 60 billion (~US$16B) by 2033, potentially ~7% of market volume. Token tickets are designed to be small and fully KYC/KYB‑compliant, with on‑chain title integration.
Why it matters: A regulator‑led framework transforms tokenization from isolated pilots into public‑sector infrastructure — crucial for institutional adoption and secondary‑market confidence.
5) St. Regis Aspen Resort — Aspen, U.S. (US$18M)
In 2018, Elevated Returns sold US$18 million (~20% stake) in the luxury St. Regis Aspen Resort as Aspen Digital security tokens via a Reg D offering on Indiegogo, with secondary trading on Templum Markets. The deal is widely cited as one of the first major U.S. hospitality assets tokenized into regulated digital securities, with token holders receiving economic rights tied to a REIT.
Why it matters: Aspen demonstrated an end‑to‑end primary issuance plus regulated secondary trading path years before today’s wave of RWA enthusiasm — and it keeps serving as a reference transaction.
What These Deals Signal
Cross‑region momentum. The set spans the U.K., Switzerland, the U.S. and the UAE — with differing legal paths (SPVs, equity tokens, regulated ATS trading, government‑supervised pilots) converging on the same goal: broader access and better liquidity.
From pilots to policy. Zurich showed tokens can be used as consideration; Dubai shows policy can industrialize the model. Together they point to standardized issuance, custody and secondary markets.
Diverse structures and investors. Equity tokens linked to operating profits (Mayfair, Aspen), development‑stage funding (Tower 27), and regulator‑steered frameworks (Dubai) hint at a coming spectrum of products — from income‑focused to growth‑oriented — for both retail and institutions.
Conclusion — Real Momentum, Not Hype
Tokenization is no longer a thought experiment. High‑profile assets have been digitized, tokens have served as part of purchase consideration, and regulators are beginning to formalize rails for issuance, custody and trading. Expect the next wave to emphasize institutional on‑ramps, standardized disclosures, and secondary‑market liquidity — exactly the ingredients large capital seeks. For deeper analysis and ongoing coverage, visit the Tokenizer.Estate blog.