Innovation breeds success.

Co-founded by Christine Menedis and Naveen Trehan, the Lucky Shepherd family of companies offer investors strategic entry points into solid growth markets – integrating technology and real estate development, while crafting unique operational brands that push their respective industries forward. Shepherd Atma, the group’s design and development division, has made an early name for itself as an innovator by disrupting traditional notions of what buildings must be and crafting spaces that can meet the needs of today’s changing demographics and transition over time – providing long-term security and value for its investors.

Among its many differentiators, Shepherd sits at the leading edge of the crypto-securities space, tokenizing its entire commercial real estate portfolio. The company integrates holistic wellness throughout each of its developments, from farm-to-table culinary, on-site greenhouses and hydroponic farming to proprietary wellness offerings and fitness classes crafted specifically for each sector. Most importantly, Shepherd has a steadfast focus on bringing joy into the lives of residents and their communities across the United States.

Shepherd Eco, the firm’s sustainable hospitality brand, offers investors an opportunity to incorporate alternative investments that align with their values into their portfolio – incorporating a core sustainability ethos with opportunistic returns structures that exceed typical ESG investments.

Shepherd has established partnerships with some of the best in the business, ensuring continued and consistent delivery of on-time, on-budget quality for our stakeholders.

Touzet Studio is committed to the idea that design and architecture must contribute positively to the context and community in which it exists. The firm meticulously crafts spaces for leading commercial brands from Apple to Nike.

Their sculpturally detailed designs are mindfully inspired by nature, culture, and technology.

Fast Company magazine called Gensler “one of America’s most influential design firms.” Michael J. Stanton, FAIA, former President of the AIA, said “Gensler is America’s foremost collaborative practice. The firm exemplifies how the creative mix of disciplines, all with ‘place’ as their focus, adds richness and value to buildings and their settings.”

Gensler’s award-winning designs and unforgettable guest experiences with the world’s top hotels, resorts, casinos, restaurants, and residences create brand loyalty and added value for owners and operators.

Founded in 1940, Hoar Construction is now recognized globally as a preemiment construction firm. The engineering and construction industry is fraught with waste, and in the 1990s Hoar recognized a need to better support developers via purposeful collaboration by all team members with the planning, organizing, and executing of work. Thus, HPM, the program management arm of Hoar, was born.

With their deep understanding of the construction industry, HPM brings impeccable coordination and efficiency – resulting in smarter, safer, faster, higher-margin projects for their clients. HPM manages over $1 billion annually inn construction projects across the US, spanning sectors from aviation and aerospace to hospitality.

Spanning 11 offices with more than 325 lawyers and government and financial services consultants, Carlton Fields is consistently ranked as one of the most sought-after law firms in the country – particularly for its corporate and securities work and leading technology practice.

The firm has extensive experience in the real estate and hospitality space, successfully closing countless transactions with the world’s top brands.

With over 100 years in the industry and a sole focus on hotel, tourism, and leisure consulting, Horwath is uniquely qualified to add value.

Horwath is a global leader with 47 offices in 36 countries, who has successfully carried out over 30,000 assignments for public and private clients. They are recognized as the founders of the Uniform System of Accounts which, subsequently, has become the industry standard for hospitality accounting.

Shepherd has established partnerships with some of the best in the business, ensuring continued and consistent delivery of on-time, on-budget quality for our stakeholders.

Touzet Studio is committed to the idea that design and architecture must contribute positively to the context and community in which it exists. The firm meticulously crafts spaces for leading commercial brands from Apple to Nike.

Their sculpturally detailed designs are mindfully inspired by nature, culture, and technology.

Fast Company magazine called Gensler “one of America’s most influential design firms.” Michael J. Stanton, FAIA, former President of the AIA, said “Gensler is America’s foremost collaborative practice. The firm exemplifies how the creative mix of disciplines, all with ‘place’ as their focus, adds richness and value to buildings and their settings.”

Gensler’s award-winning designs and unforgettable guest experiences with the world’s top hotels, resorts, casinos, restaurants, and residences create brand loyalty and added value for owners and operators.

Founded in 1940, Hoar Construction is now recognized globally as a preemiment construction firm. The engineering and construction industry is fraught with waste, and in the 1990s Hoar recognized a need to better support developers via purposeful collaboration by all team members with the planning, organizing, and executing of work. Thus, HPM, the program management arm of Hoar, was born.

With their deep understanding of the construction industry, HPM brings impeccable coordination and efficiency – resulting in smarter, safer, faster, higher-margin projects for their clients. HPM manages over $1 billion annually inn construction projects across the US, spanning sectors from aviation and aerospace to hospitality.

Spanning 11 offices with more than 325 lawyers and government and financial services consultants, Carlton Fields is consistently ranked as one of the most sought-after law firms in the country – particularly for its corporate and securities work and leading technology practice.

The firm has extensive experience in the real estate and hospitality space, successfully closing countless transactions with the world’s top brands.

With over 100 years in the industry and a sole focus on hotel, tourism, and leisure consulting, Horwath is uniquely qualified to add value.

Horwath is a global leader with 47 offices in 36 countries, who has successfully carried out over 30,000 assignments for public and private clients. They are recognized as the founders of the Uniform System of Accounts which, subsequently, has become the industry standard for hospitality accounting.

Eco Funds invest in sustainably-designed, mixed use commercial real estate developments bearing the Shepherd Eco brand.

Extraordinary, one-of-a-kind experiences.
Sustainably designed and curated to withstand the test of time.

Residential

Boutique Hotel

Wellness

Locally Inspired Retail

Being social is always in style.  Or, as we prefer to coin it, a sense of community.  Shepherd Eco has it in spades. Sustainably designed, beautifully appointed private residences – fully customizable and re-configurable to meet the needs of today and tomorrow.

Intoxicating travel that beckons your return.  Immerse yourself in your destination’s unique story line.  With no two Shepherd Eco locations alike, you’re always in for a treat.  Local tapestries and creative energies fuel conversation and laughter – turning new friends into old ones.

We recognize that wellness is a lifestyle – not an amenity.  Which is why our Shepherd Eco wellness program is inspired by our locations.  Whether it’s cycling, hiking, skiing, paddle boarding, or running, happily wear yourself out.  Then, return for some well-earned relaxation in our spas.

From epicurean markets to award-winning restaurants, pet day care to co-working – the offerings may vary, but out commitment remains consistent: Always fresh.  Always local.  Shepherd Eco is proud to foster thriving walking districts and re-invigorated city centers.

Residential

Boutique Hotel

Sustainably designed, beautifully appointed private residences – fully customizable and re-configurable to meet the needs of today and tomorrow. Surround yourself with those you love – those who inspire and challenge you. Shepherd Eco living epitomizes the true sense of community we all crave.

Intoxicating travel that beckons your return.  Immerse yourself in your destination’s unique story line.  With no two Shepherd Eco locations alike, you’re always in for a treat.  Local tapestries and creative energies fuel conversation and laughter – turning new friends into old ones.

Wellness

Locally Inspired Retail

We recognize that wellness is a lifestyle – not an amenity.  Which is why our Shepherd Eco wellness program is inspired by our locations.  Whether it’s cycling, hiking, skiing, paddle boarding, or running, happily wear yourself out.  Then, return for some well-earned relaxation in our spas.

From food halls to award-winning restaurants, pet day care to co-working – the offerings may vary, but our commitment remains consistent: Always fresh.  Always local.  Shepherd Eco is proud to foster thriving walking districts and re-invigorated city centers.

Residential

Sustainably designed, beautifully appointed private residences – fully customizable and re-configurable to meet the needs of today and tomorrow. Surround yourself with those you love – those who inspire and challenge you. Shepherd Eco living epitomizes the true sense of community we all crave.

Boutique Hotel

Intoxicating travel that beckons your return.  Immerse yourself in your destination’s unique story line.  With no two Shepherd Eco locations alike, you’re always in for a treat.  Local tapestries and creative energies fuel conversation and laughter – turning new friends into old ones.

Wellness

We recognize that wellness is a lifestyle – not an amenity.  Which is why our Shepherd Eco wellness program is inspired by our locations.  Whether it’s cycling, hiking, skiing, paddle boarding, or running, happily wear yourself out.  Then, return for some well-earned relaxation in our spas.

Locally Inspired Retail

From epicurean markets to award-winning restaurants, pet day care to co-working – the offerings may vary, but our commitment remains consistent: Always fresh.  Always local.  Shepherd Eco is proud to foster thriving walking districts and re-invigorated city centers.

Sustainability in all forms is core to the Shepherd Eco brand.

All projects honor this ethos through strategies for reducing plastic and water usage. Sustainability and resiliency elements are located where they can be visible to the public, highlighting their growing importance.

From the architectural materials built with to the food served to our patrons, Shepherd Eco seeks recycled materials and locally-sourced goods wherever possible.

Eco Funds seek to provide medium-term capital appreciation through investment in technology-driven, sustainably designed mixed-use commercial real estate.

Shepherd management capitalizes on its unique position within the PropTech sector – integrating the fruits of its Artificial Intelligence (AI) company, Prophet Labs, into its cutting-edge sustainably-designed Eco buildings.

What are Eco Funds?

Eco Funds are asset-specific, SEC-qualified Regulation D investment vehicles that operate exclusively online and allow qualified investors to subscribe with as little as $25,000. Each fund invests in a specific Shepherd Eco sustainably designed property.

Who Can Invest?

All Eco Funds are open to Qualified Investors, as defined by the SEC. Each Qualified Investor must have read the fund’s Private Placement Memorandum prior to subscribing.

Strategy

  • 30-35% Capitalization, per project
  • 5-year Hold
  • Soft brand with National Flag
  • Hospitality / Multi-family Management by National Flag operator

Distribution of Cash Flows

  • 100% of net cash flows until full return of capital
  • 85% of net cash flows / proceeds after full return of capital
  • Estimated returns anticipated to exceed 2.45x invested capital
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Shepherd Eco Miami, LLC
Wynwood (Miami), Florida
Hotel  |  Residential  |  Retail

Located in Wynwood, Miami’s punches-above-its-weight art and culinary scene, this celebrated art hotel immerses travelers in its unique ecosystem.

Shepherd Eco | Wynwood highlights landscape architecture by Cadence. Powerful insight and design direction has resulted in resilient, compelling spaces crafted to transition over time.

Shepherd Eco Miami, LLC Investment Profile

Property Type

Mixed Use (Hospitality, Residential, Retail)

Investment Profile

Development

Development Cost

$114,500,000

Minimum Investment

$25,000

Targeted Investment Period

5 years

Targeted Annual Return

Year 3: 10%  |  Year 4: 13%  |  Year 5: 15%

Distribution Commencement

Year 3 (First Operational Year)

Distribution Period

Quarterly

Targeted Equity Multiple

2.45x

Targeted Investor IRR

20.27%

Targeted Project Level IRR

21.70%

Located in Wynwood, Miami’s punches-above-its-weight art and culinary scene, this celebrated art hotel immerses travelers in its unique ecosystem.

Shepherd Eco | Wynwood highlights landscape architecture by Cadence. Powerful insight and design direction has resulted in resilient, compelling spaces crafted to transition over time.

Shepherd Eco Miami, LLC Investment Profile

Targeted Investor IRR 19.87%
Targeted Equity Multiple 2.39
Targeted Investment Period 5 years
Minimum Investment $25,000
Property Type Mixed Use
(Hospitality, Residential, Retail)
Investment Profile Development
Distribution Commencement Year 3 (First Operational Year)
Distribution Period Quarterly
Development Cost $106,000,000
Targeted Project Level IRR 23.19%

Tokenization 101

A guide to understanding the new digital landscape

Asset

An item of ownership having exchange value

Blockchain

A growing list of digital records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. This information is resilient to data modification due to its transparency via a distributed ledger.

Crypto

A digital asset that uses strong cryptography to secure its transactions

Cryptography

Written or generated codes that allow information to be kept secret or secure

Distributed Ledger

The ultimate in transparency, a database is spread across numerous devices (called nodes) on a peer-to-peer network where each replicates and saves an identical copy of the ledger and updates itself independently. The primary security advantage is the lack of central authority. When a ledger update happens, each node constructs the new transaction, then all nodes vote by consensus algorithm on which copy is correct. Once a consensus has been determined, all nodes update themselves with the new, correct copy of the ledger.

Tokenization is the act of taking any asset and representing it by a digital asset, called a token. There are 2 types of tokens: utility tokens and security tokens. It’s important to understand the difference.

A utility token is a crypto token collateralized by a project and where the token is programmed so that the user is granted access to some utility. Typically, these definable benefits are access to a particular service or system.

A security token is a crypto token that derives its value from an external, tradable asset or is collateralized by an asset that has security-like features – such as bonds, debentures, notes, options, units, shares (stocks), and warrants.

With security tokens, the official record of ownership of a security – such as LLC membership units or shares in a corporation – are taken and reflected as a smart contract on the blockchain. It’s called a smart contract because all of the applicable corporate and securities regulations and governance features are programmed into the token as it is minted – thus, not allowing for any deviation. Each security interest existing within this smart blockchain contract is represented by a digital asset, called a token.

Shepherd’s tokenized offerings are all security tokens, regulated by the United States Securities and Exchange Commission (SEC).

Quite simply, security tokens offer investors the security of a regulated instrument combined with the agility, speed, and other benefits of blockchain – all without changing anything about the underlying investment.

It’s a scary fact, but most corporate capital tables (commonly known as cap tables) are wrong and most investors don’t actively track their holdings to know it. This is the natural side effect of mathematical expressions like share or unit holdings, vesting schedules, liquidation preferences and options, etc. being defined in legal prose. When updates are manually recorded into the corporate ledger without counter-party verification, errors can easily happen. Even when paper stock certificates are issued, they only show the investor the number of shares – not the critical denominator. Thought about this way, it’s amazing that the current system has been in place for so long.

The benefit to a company in tokenizing is that it moves its cap table management and corporate governance onto the blockchain. This provides all security holders – not just management – with a transparent, live view of the corporate cap table and allows for execution of actions without the need for manual, labor intensive processes – including share or unit transfers and approvals.

Beyond being provided with this transparency, tokenizing will only impact you as an investor should you elect to take delivery of your security token. Repayment of capital, along with any and all returns, can still be sent to you via your preferred method of payment (ACH, wire, check, etc.)

If you do take delivery of your security token, you can either do so directly into your own digital wallet or the issuing company can help you set up a new digital wallet. There are built-in security features inherent in blockchain cap table management that protect against loss or theft of these tokens and provide for re-issuance in such a case.

Without a doubt, the number one benefit to tokenization is liquidity. Gone are the days of having to stay in an investment until the pre-determined exit point. Once any requisite SEC hold periods have elapsed, the token holder is free to sell or trade their interest, allowing for the unique option of fractional ownership. Opportunities like selling a portion of your holdings to take your initial investment back while allowing your profits to ride are now available to holders of security tokens. Because operating agreement compliance is hard coded into the token, the transaction is instantaneous and the cap table is updated in real time for all to see.

Admittedly, today the marketplace for these tokens is limited. However, that is changing rapidly and many within Financial Industry Regulatory Authority (FINRA) believe that most corporate assets and global trading exchanges will be tokenized in some form within the coming decade.

MYTH: Crypto securities aren’t safe

Once you understand the aforementioned material, it’s easy to see why this is a myth. A crypto security is no more or less safe than the underlying asset collateralizing it. If the project or business has independent value, that exists outside of the token. The token is simply a way of providing transparency, control, and liquidity to the holder of these assets.

While all things crypto have gotten a bit of a Wild West reputation, the simple fact is that digital securities are some of the most highly regulated assets in the world. There is a valid argument that government oversight and regulation goes directly against the philosophy that underpins blockchain and all things crypto – where freedom reigns and the middle man is removed – but as adoption has gone mainstream and major stock exchanges around the world are beginning to transition to a blockchain structure, it’s clear that regulation has won the battle.

MYTH: Coins and tokens are the same thing

Though people often use the terms tokens and coins interchangeably, the definition of a crypto coin is critically different than that of a crypto token.

A crypto coin is a digital asset that is native to its own blockchain. For example, Bitcoin (BTC) operates and functions on the Bitcoin blockchain, Ether (ETH) operates and functions on the Ethereum blockchain, Litecoin (LTC) operates and functions on the Litecoin blockchain, etc. Though Bitcoin should be understood as a store of value rather than a currency, an underlying feature of all crypto coins is that you can use them as currency to pay for goods and services, which can be priced in these terms. The value in a crypto coin is inherent to the coin itself.

A crypto token is created on an existing blockchain, with the most widely used and accepted being the Ethereum blockchain platform. Tokens built on the Ethereum platform are known as ERC-20 tokens. The features and benefits of the selected existing blockchain platform are inherent to the token – in addition to the programmed applicable corporate and securities regulations and governance features. The value in a crypto token is tied to the asset collateralizing the token.

Tokenization 101

A guide to understanding the new digital landscape

Asset

An item of ownership having exchange value

Blockchain

A growing list of digital records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. This information is resilient to data modification due to its transparency via a distributed ledger.

Crypto

A digital asset that uses strong cryptography to secure its transactions

Cryptography

Written or generated codes that allow information to be kept secret or secure

Distributed Ledger

The ultimate in transparency, a database is spread across numerous devices (called nodes) on a peer-to-peer network where each replicates and saves an identical copy of the ledger and updates itself independently. The primary security advantage is the lack of central authority. When a ledger update happens, each node constructs the new transaction, then all nodes vote by consensus algorithm on which copy is correct. Once a consensus has been determined, all nodes update themselves with the new, correct copy of the ledger.

Tokenization is the act of taking any asset and representing it by a digital asset, called a token. There are 2 types of tokens: utility tokens and security tokens. It’s important to understand the difference.

A utility token is a crypto token collateralized by a project and where the token is programmed so that the user is granted access to some utility. Typically, these definable benefits are access to a particular service or system.

A security token is a crypto token that derives its value from an external, tradable asset or is collateralized by an asset that has security-like features – such as bonds, debentures, notes, options, units, shares (stocks), and warrants.

With security tokens, the official record of ownership of a security – such as LLC membership units or shares in a corporation – are taken and reflected as a smart contract on the blockchain. It’s called a smart contract because all of the applicable corporate and securities regulations and governance features are programmed into the token as it is minted – thus, not allowing for any deviation. Each security interest existing within this smart blockchain contract is represented by a digital asset, called a token.

Shepherd’s tokenized offerings are all security tokens, regulated by the United States Securities and Exchange Commission (SEC).

Quite simply, security tokens offer investors the security of a regulated instrument combined with the agility, speed, and other benefits of blockchain – all without changing anything about the underlying investment.

It’s a scary fact, but most corporate capital tables (commonly known as cap tables) are wrong and most investors don’t actively track their holdings to know it. This is the natural side effect of mathematical expressions like share or unit holdings, vesting schedules, liquidation preferences and options, etc. being defined in legal prose. When updates are manually recorded into the corporate ledger without counter-party verification, errors can easily happen. Even when paper stock certificates are issued, they only show the investor the number of shares – not the critical denominator. Thought about this way, it’s amazing that the current system has been in place for so long.

The benefit to a company in tokenizing is that it moves its cap table management and corporate governance onto the blockchain. This provides all security holders – not just management – with a transparent, live view of the corporate cap table and allows for execution of actions without the need for manual, labor intensive processes – including share or unit transfers and approvals.

Beyond being provided with this transparency, tokenizing will only impact you as an investor should you elect to take delivery of your security token. Repayment of capital, along with any and all returns, can still be sent to you via your preferred method of payment (ACH, wire, check, etc.)

If you do take delivery of your security token, you can either do so directly into your own digital wallet or the issuing company can help you set up a new digital wallet. There are built-in security features inherent in blockchain cap table management that protect against loss or theft of these tokens and provide for re-issuance in such a case.

Without a doubt, the number one benefit to tokenization is liquidity. Gone are the days of having to stay in an investment until the pre-determined exit point. Once any requisite SEC hold periods have elapsed, the token holder is free to sell or trade their interest, allowing for the unique option of fractional ownership. Opportunities like selling a portion of your holdings to take your initial investment back while allowing your profits to ride are now available to holders of security tokens. Because operating agreement compliance is hard coded into the token, the transaction is instantaneous and the cap table is updated in real time for all to see.

Admittedly, today the marketplace for these tokens is limited. However, that is changing rapidly and many within Financial Industry Regulatory Authority (FINRA) believe that most corporate assets and global trading exchanges will be tokenized in some form within the coming decade.

MYTH:
Crypto securities aren’t safe

Once you understand the aforementioned material, it’s easy to see why this is a myth. A crypto security is no more or less safe than the underlying asset collateralizing it. If the project or business has independent value, that exists outside of the token. The token is simply a way of providing transparency, control, and liquidity to the holder of these assets.

While all things crypto have gotten a bit of a Wild West reputation, the simple fact is that digital securities are some of the most highly regulated assets in the world. There is a valid argument that government oversight and regulation goes directly against the philosophy that underpins blockchain and all things crypto – where freedom reigns and the middle man is removed – but as adoption has gone mainstream and major stock exchanges around the world are beginning to transition to a blockchain structure, it’s clear that regulation has won the battle.

MYTH:
Coins and tokens
are the same thing

MYTH: Coins and tokens are the same thing

Though people often use the terms tokens and coins interchangeably, the definition of a crypto coin is critically different than that of a crypto token.

A crypto coin is a digital asset that is native to its own blockchain. For example, Bitcoin (BTC) operates and functions on the Bitcoin blockchain, Ether (ETH) operates and functions on the Ethereum blockchain, Litecoin (LTC) operates and functions on the Litecoin blockchain, etc. Though Bitcoin should be understood as a store of value rather than a currency, an underlying feature of all crypto coins is that you can use them as currency to pay for goods and services, which can be priced in these terms. The value in a crypto coin is inherent to the coin itself.

A crypto token is created on an existing blockchain, with the most widely used and accepted being the Ethereum blockchain platform. Tokens built on the Ethereum platform are known as ERC-20 tokens. The features and benefits of the selected existing blockchain platform are inherent to the token – in addition to the programmed applicable corporate and securities regulations and governance features. The value in a crypto token is tied to the asset collateralizing the token.

PRESS

May 6, 2020    |    Yahoo!Life

February 2, 2020    |    Hackernoon