RealT stopped paying rental distributions in February 2026. On 2 July, co-founder Jean-Marc Jacobson told a community call the company was entering voluntary liquidation. There was no notice on the website and no email to holders, and no court filing has been confirmed — so this is an announcement, not a legal proceeding, and we are careful to say it that way.
What follows is what we can measure. Every figure is as of 5 August 2026 and will not be edited afterwards; when these move, that is the next report.
The market repriced it long before the announcement
| Market value | $28.6M | −79.3% in 12 months |
| Volume, 90 days | $38,296 | −92% vs previous 90 |
| Turnover | 0.13% | 90-day volume / value |
| Price vs issue | 20% | median of 731 traded |
Market value is outstanding tokens times the last price each one actually traded at — the same calculation we run on all four platforms. On that basis RealT is still the second-largest catalogue we track, and it is worth a fifth of what it was issued at. 221 of 731 listings have not traded at any price in 90 days; the median listing last changed hands 51 days ago.
The turn is older than the July announcement. RealT opened 12 offerings in the trailing year, and none since December 2025. Dated by token issuance rather than by when a tenant started paying, the monthly count reads 12 · 4 · 12 through June 2025, then 2 · 3 · 3 · 5 · 1 · 1, then nothing. A platform that stops opening offerings has stopped raising.
What Wayne County's records say
We join each Detroit listing to the county's parcel and treasurer records by street address, and count a parcel only when its house number matches the listing's. That is a strict rule and it costs coverage: 134 of 754 listings are verified to that standard today, and the number is climbing as the weekly refresh works through the roster. Everything below is that 134, not the whole catalogue.
| Deed in another name | 59 / 134 | owner of record is not a RealT entity |
| Taxes unpaid | 130 / 134 | 97% of verified parcels |
| Amount owed | $2,871,011 | tax, interest and fees, all years |
| Verified | 134 / 754 | Detroit parcels only |
Michigan's ladder runs delinquent in year one, forfeited in year two, and subject to foreclosure once a lien is recorded. Of the 134 verified parcels, four are clear.
| Status | Parcels |
|---|---|
| Subject to foreclosure | 66 |
| Forfeited | 42 |
| Delinquent | 22 |
| Clear | 4 |
Fifty-nine of those parcels record an owner that is not a RealT entity. We are stating a fact about a deed and nothing more — a transfer can lag a sale, and we have not established why any individual title reads the way it does.
| Owner of record | Listings | Taxes unpaid | Owed |
|---|---|---|---|
| BRIGHTMOOR HOMES IV LDHA LP | 9 | 9 | $26,121 |
| EWALD CIRCLE APARTMENTS LLC | 2 | 2 | $42,010 |
| MOTOWN RENTALS LLC | 2 | 2 | $14,157 |
| OFF MARKET BROKER LLC | 2 | 2 | $8,757 |
| GREAT CITY LLC | 2 | 2 | $4,120 |
| BREWER PARK HOMES LDHA LP | 2 | 2 | $635 |
Owners of record that are not RealT entities, top 6 by count.
The data feed has not noticed
RealT's own API still reports roughly $16.3M of annual net rent across the catalogue, unchanged through six months of suspended distributions. That is why every RealT yield on BrickTable is struck through: the number is published, it is current, and it describes rent nobody is receiving. If you are reading a yield for a RealT token anywhere, check what it is sourced from.
What we are watching next
Coverage first — the 134 verified parcels should reach roughly 483 as the refresh completes, and the share with a deed in another name will firm up with it. After that: whether the escrow holds, whether any court filing appears, and whether the trustee appointed in April approves sales. We will publish the same measurements again rather than editing this report.
Method
Market value and volume are computed from executed on-chain fills settled in dollars, the same way on all four platforms we track. Deed and tax figures come from Wayne County's parcel and treasurer records, joined by street address, house number required to match. Coverage is stated with every figure. Nothing here is investment advice, and we do not claim RealT is bankrupt, in a legal liquidation proceeding, or that any party acted unlawfully.