BKL-3, issued by Reental, is a tokenized real-estate investment that fractionalizes a single property vehicle onchain and tracks the value and rental performance of - BACALAR 3 [S1][S2].

The reference asset is - BACALAR 3 (BKL-3), and each token represents a proportional claim on that property held by its per-project vehicle [S1][S3]. This is a total-return instrument: tokenholders receive rental income distributed monthly in USDT, a stablecoin, in proportion to their holding, and may claim or reinvest distributions to compound [S1][S3][S2]. At the end of the property's cycle, holders recover their initial investment plus a share of any capital gain on sale; a 19% withholding applies in Spain [S4].

Reental operates from Spain and the United States, forming a dedicated per-project vehicle for each issuance rather than a single named parent issuer [S5][S1]. U.S. projects are private placements under the Securities Act of 1933, using Regulation D Rule 506(c) and Regulation S; Spanish projects are issued under Law 6/2023 on Securities Markets and Investment Services [S5][S2]. The token represents tokenized LLC shares in the United States, or a beneficiary interest in a participatory loan in Spain [S1][S5]. Investors complete KYC and AML checks, and U.S. tax residents must be accredited [S5][S4]. There is no issuer buyback; tokenholders sell to validated buyers [S6].

The property tokens are issued natively on the Polygon network and held in the investor's own offchain self-custodied wallet, such as MetaMask, Rabby, or HumanWallet [S5][S6]. To invest, a user registers, completes KYC and AML validation, purchases tokens with USDT or by bank transfer at a one-token minimum, and signs the investment agreement [S1][S5]. Distributions settle in USDT to the tokenholder's wallet [S1][S2].

<Sources
  retrievedAt="2026-06-19"
  items={[
    { id: "S1", url: "https://www.reental.co/en/blog/what-is-reental-and-why-we-tokenized-spanish-real-estate" },
    { id: "S2", url: "https://www.reental.co/en" },
    { id: "S3", url: "https://www.reental.co/en/properties" },
    { id: "S4", url: "https://www.reental.co/en/faqs" },
    { id: "S5", url: "https://www.reental.co/en/faqs" },
    { id: "S6", url: "https://www.reental.co/en/help" },
  ]}
/>


# Asset Price methodology

## 1. Overview

Asset price represents the closing USD value of a tokenized asset at the end of each day. Daily prices are recorded to facilitate the valuation of on-chain activity and the calculation of market capitalization. Each price point reflects the market value at the conclusion of the UTC day.

## 2. Data sources

- **Asset metadata**: Token contract addresses, ticker identifiers, and on-chain launch timestamps
- **External data**: End-of-day price feeds and exchange rate feeds from market data providers
- **Blockchain data**: Data covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others) and non-EVM chains such as Solana, Aptos, and Near

## 3. Step-by-step calculation

### Component A: Market data retrieval

- **Purpose**: Collect raw daily price information
- **Logic**: Daily price data is retrieved from external market data providers. For assets pegged to specific currencies, prices are calculated using a multiplier and daily exchange rates. For assets traded on traditional exchanges where data is unavailable on certain days, such as weekends or holidays, missing values are filled with the last available closing price.

### Component B: Timestamp normalization

- **Purpose**: Align price data with daily reporting periods
- **Logic**: Timestamps are truncated to the daily grain. To accurately reflect the closing value, prices recorded at the start of a day (00:00:00 UTC) are assigned to the preceding calendar day.

### Component C: Asset mapping and deduplication

- **Purpose**: Associate prices with unique assets and resolve data overlaps
- **Logic**: Prices are mapped to assets using unique identifiers for EVM-compatible and non-EVM chains. To ensure data integrity, price records are filtered to include only those occurring on or after the asset's on-chain launch date. In instances where price data for a single asset is available from multiple sources, the data is deduplicated by selecting the record with the highest priority to ensure a single, consistent closing price.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Asset price

Tokenized funds

Reental tokenizes individual real estate properties on the Polygon blockchain, allowing investors to purchase fractional ownership through digital tokens. Each property is represented by a unique token with transparent rental income distribution and property management.

A real estate tokenization platform that enables fractional investment in rental properties worldwide through blockchain technology, providing accessible real estate investing with low minimums and automated income distribution.

Real estate investors seeking fractional ownership in tokenized property investments across global markets including Spain, Dubai, Mexico, and the United States.

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Real-world asset (RWA) issuers

Reental

REENTAL - BACALAR 3 (BKL-3) is a tokenized fund share issued by Reental through Reental BKL-3 LLC.

Each token is a direct claim on the issuer.

The fund is closed-ended and invests in real estate in Latin America.

Retail investors and accredited investors can subscribe and redeem in EUR, with a EUR 100 minimum after completing KYC.

Reental BKL-3 LLC is offered under an SEC Regulation D exemption, is offered under an SEC Regulation S exemption.

BKL-3 has been issued on Polygon as an ERC-20 token since March 2025.

REENTAL - BACALAR 3BKL-3