Peru has had a securitization vehicle built specifically for real estate since 2016. What it does not give you is a branded platform and your own terms. That’s where we come in.
The securitization trust is the route, and the choice between a public and a private offering decides almost everything else about your raise.
The FIBRA, a securitization trust for fractional investment in real estate assets, was created by the SMV in 2016. It issues participation certificates and exists to acquire or build property for eventual leasing.
A public offering is registered with the SMV and carries transparency and reporting duties. A private offering is not registered, and is restricted by rule to institutional investors only.
Peruvian rules require a privately offered trust to be named as not registered with the SMV and directed at institutional investors. The restriction is written into the name of the vehicle itself.
The primary public offering has to be placed with a minimum of ten investors. The requirement is waived only where certificates are issued purely in exchange for contributing property to the trust.
What governs is the securitization framework, not the technology. A tokenized participation certificate is still a participation certificate, and the route it takes to investors decides the rules that apply.
What you own and what you want to raise. We say plainly whether this fits, including when it does not.
Our local partner sets the route: a FIBRA or equivalent securitization trust placed by public offering, or private offering limited to institutional investors. That choice shapes the whole raise.
The legal work and the launch run in parallel. In Peru the pace is set by constituting the trust with a securitization company and, for a public offering, by SMV registration. Your lawyer starts that on day one.
The framework that applies is the securitization one, supervised by the SMV. A tokenized participation certificate is still a participation certificate, so the rules follow the instrument rather than the technology.
Yes, but a private offering from a securitization trust is restricted to institutional investors, alleviating the need for SMV registration. If your investors are individuals, this route is closed.
A securitization trust for investment in real estate assets, created by the SMV in 2016. It issues participation certificates placed by primary public offering, and exists to acquire or build property for leasing.
A primary public offering has to be placed with at least ten investors. That requirement falls away only where the certificates are issued purely in exchange for contributing property into the trust.
Last updated: 10-08-2026
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