Summary
Ketju does not approve Lofty: the City of Akron condemned one of its properties. Holders also report that the tokens are far harder to sell than Lofty’s marketing claims. Lofty sells fractional ownership of single US rental properties. A Wyoming LLC holds each property, and its membership interests trade as Algorand Standard Assets from a $50 minimum. Lofty is still open to US retail investors, unlike RealT, which is in voluntary liquidation and which Ketju does not approve. Independent review says that retail access rests on an untested legal theory: a Wyoming intrastate LLC owns each property directly. Lofty has filed no Regulation D, CF or A+ exemption for it. Akron condemned 809 Kenmore Boulevard over a broken heating system, water problems and rodents. Tenants reportedly went more than 80 days without heat, and a lawsuit is now open against Lofty and its property manager. Several reviews and Trustpilot complaints say some holders cannot sell even at a loss.
Review triggers
- The Akron property lawsuit resolves and Lofty shows better property-management oversight across its portfolio
- Primary offering documents or an independent legal opinion confirm that Lofty's retail offering is compliant, or Lofty files a conventional Reg D/CF/A+ exemption
- Secondary-market liquidity is shown to match marketing claims across a representative sample of properties, beyond the most popular listings
- Lofty tracks and publishes realized returns from property sales across the full portfolio, beyond headline projections of unrealized yield
Facts
- Verdict
- Not approved
- Type
- Other
- Chains examined
- Algorand
- Reviewed
- Last confirmed