A strategic alliance between Fidelity National Title and Building Block REIT was announced today. The alliance will cooperate their respective marketing and sales efforts in the greater Chicago market and will join in pursueing client opportunities.
Both companies are expected to extend their capabilities by leveraging their combined strengths to deliver greater value to their clients in the purchase and sale of multi-family, office space and mixed-use commercial real estate.
“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.” Kim Long Vice President Operations, Fidelity National Title.
Simon Enwia, Founder and CEO of Building Block REIT notes 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 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.”
Building Block REIT CMO Bruce Masterson cited the advantages of “integrating Fidelity product and services into Building Block REIT’s blockchain implementation as a smart contract offering, further reducing friction in the process.”
Commenting on future plans for Building Block REIT, Simon Enwia stated “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.”