The original announcement described it as the first Dominican and Caribbean real estate trust to achieve this type of international securitization.
How the Structure Works
The transaction was arranged by Estating Group in Luxembourg and executed through its securitization platform, Estating Property Vault S.A.
Estating Property Vault acts as the issuer, transforming the underlying investments of the Samaná Landbank Trust into fixed-income securities carrying a Swiss ISIN.
ISP Securities Ltd acts as paying agent.
The securities are held in custody at SIX SIS, Switzerland’s Central Securities Depository.
Access Through Existing Banks and Brokers
The structure allows accredited investors to subscribe through private banks or brokerage accounts and hold the securities through standard custody arrangements.
A dedicated loan-note program was also available for qualified U.S. investors.
In the Dominican Republic, the Fideicomiso Samaná Landbank Trust is managed by FiduCapital S.A., a licensed Dominican trustee.
Allen & Overy Shearman provided legal advice to Estating Property Vault on the investment and securities documentation, while PwC serves as auditor to EPV.
Connecting Dominican Assets with International Infrastructure
The objective of the structure is to connect a Dominican land-banking strategy with European securitization and Swiss custody infrastructure.
Instead of requiring investors to participate through an unfamiliar local process, the securities can be held within an established financial-market environment.
For Samana Group, the launch represents an important step in connecting Caribbean real estate assets with international institutional standards and investor infrastructure.