Building Block REIT (Real Estate Investment Trust) and Fidelity National Title made public a critical collaboration recently. The collaboration in its initial stage will combine with their individual marketing and sales efforts in the greater Chicago market.
The expectation is that the two companies will extend their capabilities by taking advantage of their joint efforts. Furthermore, they will deliver bigger value to their respective customers. Also, they will help to buy and sell office space, and mixed-use commercial real estate.
How the Leadership of both Companies Sees this Collaboration
The Vice President Operations of Fidelity National Title, Kim Long in his remarks commented that,
“As a leading provider in the title industry, Fidelity National Title is excited to be partnering with Building Block REIT and integrate our expertise along with our products and services into their platform. The technology Building Block REIT is bringing to the commercial investment space is unique and this is an opportunity for Fidelity to provide innovative products specific to our partnership that will provide a high level of service to all the parties in the transaction.”
Simon Enwia, the Founder and also Chief Executive Officer of Building Block REIT said that,
“Blockchain builds on trust, but the general public still want a trusted name verifying the previous deeds from the past 100 years and the starting point of blockchains when it comes to property titles. The combination of Fidelity and Building Block REIT gives buyers the reassurance that the title to their property is clear of encumbrances from the distant past and in real time. Building Block REIT and Fidelity are ushering in a new age in title insurance.”
In the same vein, the CMO of Building Block REIT, Bruce Masterson mentioned the merits of,
“Integrating Fidelity product and services into Building Block REIT’s blockchain implementation as a smart contract offering, further reducing friction in the process.”
Looking at the future plans of Building Block REIT, Simon Enwia also commented that,
“We are just scratching the surface on the innovation that blockchain technology brings to the REIT market and will continue to innovate with blockchain across the spectrum of transactions involved in acquiring and managing real estate.”
Profile of both Companies
Building Block Inc. – A group of real estate and blockchain technology experts formed this company in 2018. It is the first REIT to join the tax advantages of investing in a REIT with Blockchain Technology in the US. Building Block is re-envisioning REIT investing and opening up this rare investment type to the average investors around the globe.
Fidelity National Title – A member of the Fidelity National Financial group of companies. Fidelity National Financial is the most revered providers of title insurance, escrow, and other title-related services. Also, the company is a leader and among the strongest companies in the US. It provides technology, and transaction services to the real estate and mortgage industries.
Fidelity National Financial is existing for over 160 years. It is also US’s biggest title insurance company working through its many title insurance underwriters. They include Fidelity National Title, Chicago Title, Commonwealth Land Title, Alamo Title, and also the National Title of New York. Additionally, the company issues more title insurance policies in the whole of US.
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