RHEOS CAPITAL sources, structures and manages European real estate assets within a Luxembourg vehicle of ring-fenced compartments. Each compartment gives rise to the issuance of digital financial securities, distributed to qualified investors through licensed partners.
◆The problem
European real estate carries an old contradiction. Its value is tangible, its cash flows predictable, and yet entering takes months, and exiting takes longer still.
Selling a property takes months, mobilises a chain of intermediaries and incurs transfer costs. Meanwhile, value remains frozen on the balance sheet.
Institutional-grade assets remain reserved for those who already hold substantial capital and access to closed placement channels.
Luxembourg law on compartmentalised vehicles, European standards for digital financial securities and permissioned distributed ledgers now make the operation feasible, today.
Value of European real estate held off-market by illiquidity.
Addressable market
Share of European real estate structured today as digital financial securities.
Adoption rate
European prospectus exemption threshold. Each compartment is sized to remain below it.
Regulation (EU) 2024/2809
◆The architecture
RHEOS CAPITAL operates a single, permanent Luxembourg vehicle. Each transaction opens an autonomous compartment within it, with its own asset, its own liabilities and its own holders. The compartment closes upon disposal of the asset; the vehicle itself endures.
Each compartment answers only for its own commitments. Toggle the switch to see what a default does — and what it does not do.
◆Our commitments
We issue no security without a credible exit mechanism. Liquidity is designed at structuring, never as an afterthought.
RHEOS CAPITAL retains a stake in every compartment. Our capital is committed alongside that of our investors.
Valuation, actual yields, real costs: every exposure is identifiable, every figure published, every movement traceable on the register.
Trust is built on the soundness of the underlying. One compartment, one asset, one full due diligence, without exception or shortcut.
◆The value chain
Six stages, held end to end. RHEOS CAPITAL selects and manages; regulated and technical building blocks go to specialists.
◆The roadmap
Establish trust through asset soundness
The first compartments are opened and carried through. Each transaction tests the model and builds the track record that institutional allocators will require.
The decisive moment for liquidity
Secondary trading opens on a licensed market infrastructure. Securities become effectively transferable and the holder base widens in stages.
The reference for tokenised real estate
The accumulated infrastructure — regulatory, technical and commercial — then carries institutional volumes and European coverage, without multiplying costs.
◆The white paper
Legal architecture, issuance mechanics, compartment governance, compliance framework and roadmap: our white paper sets out the entire model. Reserved for qualified investors and partners.
◆Audiences
Open a funding channel that does not depend on bank credit alone. We structure the transaction; you retain command of your business.
Sale & leaseback · Residential stock · Property traders
Complete your catalogue with real estate securities compliant with European standards, backed by full due diligence documentation and standardised reporting.
ERC-3643 · Documentation · Reporting
Take defensive exposure to European property, selected asset by asset, with register-level transparency and an exit prospect that did not previously exist.
Family offices · Private banks · Institutions
Without real liquidity, tokenisation is merely a technological showcase. With it, it becomes the lever that democratises access to wealth.
◆Join us
We are selecting our first strategic partners and the assets of the inaugural compartment. If your project meets ours, write to us.
RHEOS CAPITAL was born from the meeting of hands-on real estate expertise, a command of financial engineering, and investment discipline. A complementarity built to last.
Co-founder · Structuring & Product
Hakim has structured and led real estate programmes of €15m to €60m, mastering the entire value chain from financial engineering to operational delivery.
At RHEOS CAPITAL, he designs the profitability models and structures the transactions, at the meeting point of traditional finance and distributed ledger infrastructure.
Co-founder · Strategy & Distribution
For more than twenty-seven years, David has shaped the French real estate landscape. His career opened in 2001 in residential brokerage: over 1,300 transactions closed, a cumulative volume of roughly €220m.
In 2018 he moved into land development; more than 1,700 units committed or delivered across the French Alps. This territory-rooted path drives sourcing and distribution at RHEOS CAPITAL.
Co-founder · Investment & Asset Management
François leads the investment policy of RHEOS CAPITAL and the management of assets held in compartment.
He arbitrates portfolio entries and steers valuation and performance across the entire life of each compartment.