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DL Holdings Increases Investment in U.S. Carmel Real Estate Fund, Gifting Additional HK$40 Million in RWA to Shareholders

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HONG KONG, June 3, 2026 /PRNewswire/ — DL Holdings (1709.HK) announced on 2 June that it has committed US$5 million to subscribe for interests in ONE Carmel Estate Residence Lot A LPF, a limited partnership fund focused on U.S. real estate private credit investments. This represents another strategic step in DL Holdings’ global asset allocation and digital asset initiatives, and positions DL Holdings to become the first Hong Kong-listed company to distribute real estate credit returns to shareholders in tokenized Real World Asset (RWA) form.

Prior to this transaction, the Securities and Futures Commission (SFC) of Hong Kong formally approved two RWA tokenization projects led by DL Holdings: the tokenization of a commercial real estate interest (DL Tower) and the tokenization of a private equity interest (Animoca Brands). Both were first-of-their-kind approvals. These approvals fully reflect the regulator’s high recognition of DL Holdings’ pioneering work in the RWA sector. DL Holdings will once again create a Hong Kong first — launching the city’s first luxury residential RWA.

The investment structure is straightforward. The Fund will provide a US$5 million loan to Carmel Reserve LLC to finance the construction of a signature ultra-luxury art residence within Phase I of the ONE Carmel development. The loan carries a two-year maturity with an annual coupon of 8%. Completion of the residence is expected to play a significant role in marketing and sales activities for the broader development, and is considered a key milestone in the project’s overall execution.

As an investor in the Fund, DL Holdings is entitled to two sources of return: a fixed annual return of 8%; and 20% participation in returns generated above the fixed yield threshold. The investment term is two years, with an option to extend for an additional year.

What is ONE Carmel?

ONE Carmel is located in Carmel Valley, Monterey County, California. Spanning approximately 3.6 square kilometers, the master-planned community comprises 66 individual ultra-luxury art residence lots, each averaging around 20,000 square meters. Situated near California’s iconic Highway 1 and the world-renowned Pebble Beach Golf Links, the project sits in the heartland of one of Northern California’s most established affluent residential regions. It represents the newest — and the last — large-scale residential development on this land, and has received a Final Subdivision Public Report issued by the California Department of Real Estate (DRE).

The significance of ONE Carmel lies not merely in its luxury positioning, but in its underlying scarcity value. In real estate, genuine scarcity emerges only when three factors converge simultaneously: an irreplaceable location; significant barriers to regulatory approval; and no further supply of developable land. ONE Carmel possesses all three. DL Holdings believes these attributes give the project strong potential for Real World Asset (RWA) tokenization. The Group’s limited partnership interest may provide an additional channel for its digital asset strategy and could be distributed to shareholders as a special dividend in RWA form.

Understanding Real World Assets (RWAs)

RWA tokenization refers to representing ownership interests in tangible or financial assets through blockchain-based digital tokens. To illustrate: a commercial building is highly valuable, but unlike a publicly traded share it cannot be divided and transferred in small units. Through tokenization, ownership rights can be represented by digital certificates, with each certificate corresponding to a fractional economic interest in the underlying asset. Ownership, transfers, and distributions are recorded on the blockchain in a transparent and immutable manner. At present, Hong Kong has not yet established a secondary trading market for such RWA tokens. Consequently, these certificates represent economic claims on the underlying assets rather than freely tradable securities, and cannot yet be bought or sold on an exchange. This is a constraint under the current regulatory framework; even so, DL Holdings remains highly confident in the future of digital finance.

On 24 February 2026, the SFC approved two RWA tokenization products sponsored by DL Holdings: a limited partnership fund holding interests in DL Tower, a commercial property in Central, Hong Kong, valued at HK$60 million; and a limited partnership fund investing in Animoca Brands. These were Hong Kong’s first approved commercial real estate and private equity RWA projects. Including the approximately HK$40 million equivalent investment in ONE Carmel, the aggregate value of on-chain assets DL Holdings is distributing to shareholders as dividends will reach approximately HK$100 million, and the project establishes Hong Kong’s first replicable pathway for luxury residential RWA. DL Holdings’ total on-chain asset portfolio now exceeds HK$500 million.

DL Holdings’ continued innovation in the RWA sector aligns closely with the Hong Kong SAR Government’s proactive embrace of Web3.0, blockchain, and digital finance. In its Policy Statement on Development of Virtual Assets in Hong Kong (31 October 2022), the Government stated that “Web3.0 has the potential to become a future trend in finance and commerce… we are committed to the sustainable development of financial services across the entire virtual asset value chain.” Financial Secretary Paul Chan has further called for advancing the use of tokenized assets and upgrading financial infrastructure. The Hong Kong Monetary Authority, through its Ensemble project, has focused on sandbox testing for the settlement of tokenized assets, substantively exploring the deployment of distributed ledger technology for real-world assets. The SFC’s successive approvals of DL Holdings’ commercial real estate and private equity tokenization projects can be seen as concrete regulatory practice under this top-level policy framework. By bringing real-world assets on-chain through compliant structures, DL Holdings’ efforts resonate clearly with Hong Kong’s official vision of becoming a global digital asset hub — demonstrating market innovation and a welcoming regulatory stance moving in the same direction.

RWA Special Dividends: A New Paradigm for Hong Kong

A traditional dividend distributes corporate profits to shareholders in cash. Once received, shareholders have no further direct claim on the underlying assets. An RWA special dividend is fundamentally different: instead of cash, shareholders receive digital tokens anchored to a real asset. The asset’s appreciation, income distribution, and eventual disposal all remain economically linked to the token holder. Put differently — a cash dividend means “the company made money and gives it to you”; an RWA dividend means “the company places the rights to a portion of an asset directly into your hands.” The former is a one-off transaction; the latter is a continuing right.

Mr. Andy Chen, Chairman and Chief Executive Officer of DL Holdings, stated: “The Group’s investment in and tokenization plan for ONE Carmel carry unique value. It was only through extensive efforts within the SFC framework that DL Holdings successfully advanced the DL Tower RWA plan, pioneering Hong Kong’s first compliant and replicable RWA business model. The tokenization of the U.S. luxury residence ONE Carmel is another of DL Holdings’ endeavors in the RWA space, and reflects our consistent DNA: to be a pioneer and explorer of the rules.” DL Holdings will provide real-time visibility into the luxury residence’s construction progress, so that all RWA holders and potential investors can follow the project’s development — an ultra-high level of transparency for physical assets on-chain that is likewise a world first.

The key words here are not “luxury residential”, but “compliant” and “replicable”. DL Holdings’ goal is not to complete a single transaction, but to prove out a viable pathway within the SFC’s regulatory framework — one along which subsequent assets can continue to enter the market by following the same route.

Building a Digital Asset Ecosystem

ONE Carmel is an important piece of DL Holdings’ broader digital asset ecosystem. The Group’s digital finance strategy extends beyond real estate RWA to areas including Bitcoin hash power (mining), AI-driven investment platforms, and computing-power infrastructure. Under DL Holdings’ plans, many of these assets may likewise enter the RWA track in the future, ultimately forming a synergistic, mutually reinforcing digital finance ecosystem. This is a Hong Kong-listed company’s systematic answer, within the current regulatory framework, to the question of how traditional assets can interface with blockchain technology.

For shareholders, the true significance of the ONE Carmel investment may lie not in the size of the US$5 million commitment, but in the principle it validates: genuinely high-value real-world assets can, on a compliant basis, be digitized, fractionalized, and delivered into the hands of ordinary investors — with no intermediaries, no complex legal-structure changes, requiring only a token and a system design that can withstand regulatory scrutiny.

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SOURCE DL Holdings

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COLUMBIA DISTRIBUTING COMPLETES ALASKA TRANSACTION WITH RNDC, ESTABLISHING A FOUR-STATE PACIFIC NORTHWEST TOTAL BEVERAGE PLATFORM

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October 26, 2026

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WILSONVILLE, Ore., Oct. 26, 2026 /PRNewswire/ — Columbia Distributing today announced it has completed its transaction with Republic National Distributing Company (RNDC) to acquire certain beverage distribution assets in Alaska, marking Columbia’s official entry into the state and completing the final component of the letter of intent announced by the companies in April.

The closing represents a major milestone in a long-term strategy Columbia set out to build: a multi-category, multi-state total beverage platform across the Pacific Northwest. With direct operations now spanning Alaska, Oregon, and Washington, along with its recently completed strategic partnership with Hayden Beverage in Idaho, Columbia has brought that vision to life, creating a connected four-state route to market and a more complete one-stop solution for supplier and retail partners across the region.

“This is a huge moment for Columbia because it represents exactly what we set out to build,” said Chris Steffanci, President and CEO of Columbia Distributing. “Our long-term vision has been to create the strongest total beverage platform in the Pacific Northwest—a multi-category, multi-state strategy that gives our partners a more complete solution across the region. With Alaska, that vision is now coming to life. We can offer suppliers and retailers a connected, capable, and increasingly seamless route to market across Alaska, Idaho, Oregon, and Washington.”

The Alaska transaction expands Columbia’s direct service territory to more than 835,000 square miles and adds nearly 1,500 customer accounts. It also brings Columbia into a market with an experienced local team, strong customer relationships, and an established beverage distribution network.

Columbia sees significant untapped potential in the Alaska business and plans to bring renewed investment, leadership, resources, and market focus to the state. The company will pair the Alaska team’s local knowledge and relationships with the culture and ways of working that drive Columbia’s performance in its existing markets, empowering people, moving with urgency, holding one another accountable, and maintaining a relentless focus on customers, brands, and execution.

“What has impressed me most is the energy and ambition of the Alaska team,” Steffanci said. “They know the market, they believe in the brands, and they are hungry to grow, compete, and win. They do not need us to teach them Alaska. Our responsibility is to give them the leadership, investment, tools, and support to show what they can do.”

“At Columbia, we trust our people, empower the teams closest to the market, and expect everyone to take ownership of results,” Steffanci continued. “That culture and the way we work across our company will bring new energy and momentum to Alaska. We are not entering the market to maintain the status quo—we are here to build, grow, compete, and raise the standard. This team is ready to be unleashed, and I believe the market is going to feel the difference very quickly.”

The expansion is the latest step in the deliberate strategy Columbia has pursued to build a broader total beverage business across multiple categories and markets. On June 30, the company completed its acquisition of certain RNDC wine and spirits distribution rights in Oregon and Washington. In September, Columbia completed a strategic partnership with Hayden Beverage, creating long-term alignment with Idaho’s leading locally based beverage distributor. The Alaska transaction completes the geographic footprint Columbia envisioned across the four-state Pacific Northwest market.

Together, these transactions create a platform designed around what suppliers and retailers increasingly need: one partner capable of representing multiple beverage categories across multiple states while still maintaining the local knowledge, relationships, and market-level execution required to succeed in each community.

Columbia’s expanded platform spans beer, wine, spirits, cider, non-alcoholic beverages, and emerging beverage categories. For supplier partners, it provides greater regional scale, category expertise, operational capabilities, and a more cohesive route to market. For retailers, it provides access to a broader portfolio backed by strong sales, delivery, merchandising, revenue management, and account execution capabilities.

“This is what total beverage means to us,” Steffanci added. “It is not simply adding categories or adding geography. It is about building a one-stop solution that connects categories, capabilities, people, and markets in a way that creates more value for our partners. We now have the platform we envisioned across the Pacific Northwest, and our focus turns to executing against that opportunity.”

Columbia is working closely with the Alaska team, suppliers, customers, and business partners to support a smooth transition. Columbia will communicate additional information about the operational transition, portfolio, and go-live timing directly to affected stakeholders.

Columbia appreciates RNDC’s partnership and the work of teams across both organizations to complete the transaction. Financial terms were not disclosed.

About Columbia Distributing

Since 1935, Columbia Distributing has helped build some of the best-known brands in the beverage business. Today, Columbia is one of the nation’s leading total beverage distributors, with a portfolio spanning beer, wine, spirits, cider, non-alcoholic beverages, and emerging beverage categories.

Columbia’s more than 3,200 teammates serve approximately 24,000 retail customers and deliver more than 80 million cases annually. With direct operations across Alaska, Oregon, and Washington and a strategic partnership with Hayden Beverage in Idaho, Columbia offers supplier and retail partners a connected four-state, multi-category route to market across the Pacific Northwest.

Columbia’s success is built on its people, its brands, and a deep-rooted commitment to execution, service, and creating sustainable growth for its teammates, customers, suppliers, shareholders, and communities. For more information, visit www.coldist.com.

Contact: Steve Gibbs
Steve.Gibbs@coldist.com | 206-920-6799

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SOURCE Columbia Distributing

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Secretary of the State Thomas Highlights Record Protecting Connecticut Businesses as Scams Grow More Sophisticated

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October 26, 2026

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As early voting enters its final week, Secretary of the State Stephanie Thomas highlights her first-term record protecting Connecticut businesses, from fighting human trafficking and business hijacking to lowering fees and moving filings online, and pledges to keep business owners prepared as AI makes scams more sophisticated.

HARTFORD, Conn., Oct. 26, 2026 /PRNewswire-PRWeb/ — As scams targeting Connecticut businesses grow more sophisticated, including recent emails impersonating state offices, Secretary of the State Stephanie Thomas is highlighting the protections her team has put in place for the more than half a million businesses registered in Connecticut. She is seeking a second term to build on that work as AI-powered fraud creates new risks for business owners.

“If someone tries to steal your business, you’re not on your own. AI is making scams more sophisticated by the month, and I’ll keep making sure business owners know what to watch for.”

“Before I was Secretary of the State, I ran a small business, so I know how scarce time and money can be,” said Secretary Thomas. “That’s why our team cut fees and red tape, and why I fought for new laws that let my office investigate when fraudsters hijack a Connecticut business. If someone tries to steal your business, you’re not on your own. But the threats keep evolving. AI is making scams more sophisticated by the month, and I’ll keep making sure business owners know what to watch for. I’m not done delivering for Connecticut businesses, and I hope you’ll support me on November 3.”

Protecting Connecticut Businesses

Fighting human trafficking. Through Be a Light, Secretary Thomas made Connecticut the 7th state in the country and the first in the Northeast to help businesses identify, report and prevent human trafficking. Trafficking can reach any business through its customers, employees or supply chains. PreventHumanTraffickingCT.com gives owners practical guidance on what to watch for and what to do.

Stopping business hijacking. Fraudsters have stolen login credentials, changed a business’s listed owner and opened lines of credit in its name. Owners used to have only one remedy: hire a lawyer and go to court. Secretary Thomas brought the problem to the legislature. New laws now give her office the authority to investigate and the funding to build stronger protections, including screening that flags suspicious filings for human review.

Early warnings for owners. Business owners can turn on Follow Business alerts at Business.CT.gov to be notified whenever someone files a document for their business.

Lower costs, less red tape. Apostille fees are lower, and the entire process for authenticating documents for use abroad, used for about 40,000 documents a year, is now online. That makes Connecticut one of the first states to offer it. A new statewide trademark directory lets owners check a name before investing in it.

Help getting started and growing. A free monthly business newsletter gathers grants, funding and training opportunities in one place. A new Business Welcome Packet walks owners through their first steps, from tax IDs to fraud protection.

Early Voting Ends Sunday, Nov. 1

Early voting is open daily from 10 a.m. to 6 p.m. through Sunday, Nov. 1, with extended hours from 8 a.m. to 8 p.m. on Tuesday, Oct. 27 and Thursday, Oct. 29. There is no early voting on Monday, Nov. 2.

Every town has at least one early voting location. Voters can find theirs at MyVote.CT.gov or by contacting their town’s registrar of voters. Eligible residents who are not yet registered can register and vote the same day during early voting or on Election Day, Tuesday, Nov. 3, when polls are open from 6 a.m. to 8 p.m.

About Stephanie Thomas

Stephanie Thomas is Connecticut’s 75th Secretary of the State and the first Black person elected to the office. Since taking office in 2023, she has secured $20 million to modernize Connecticut’s election equipment, led the rollout of early in-person voting, expanded civic education through initiatives such as the Power of Civics platform and launched Be a Light, making Connecticut the first state in the Northeast to help businesses identify, report and prevent human trafficking.

Thomas is running for reelection in 2026. She serves on the Executive Board of the National Association of Secretaries of State and testified before Congress in 2025 about balancing voter access with election security.

Before becoming secretary, Thomas represented Norwalk, Wilton and Westport in the state legislature. She also ran a small business and spent nearly 30 years advising nonprofit organizations on strategy and fundraising.

Media Contact

Natasha Lopoukhine, Savvy Marketing Communications, 1 2039560920, natasha@igotsavvy.com, www.igotsavvy.com

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SOURCE Stephanie Thomas

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MNA: Berkshire VNA Nurses and Healthcare Professionals Deliver Petition Calling for a Fair Union Contract to Strengthen Patient Access to Home Care

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October 26, 2026

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While there has been bargaining progress on early-career wages, clinicians are urging BVNA to invest in experienced staff to support safe patient care

PITTSFIELD, Mass., Oct. 26, 2026 /PRNewswire/ — Berkshire Visiting Nurse Association (BVNA) nurses and healthcare professionals, represented by the Massachusetts Nurses Association (MNA), delivered a petition to BVNA management at 4 p.m. Monday, October 26, calling for a fair contract that supports recruitment, retains experienced clinicians and protects the time needed to care for patients safely at home. The parties next meet for bargaining on October 28.

The petition comes as the bargaining unit has shrunk by approximately half over the past several years amid high turnover and challenges attracting new staff. BVNA clinicians are seeking to reverse that decline to strengthen access to home care, help patients recover in familiar surroundings, and support timely hospital discharges.

“We appreciate that management has made progress toward attracting new staff by moving on wages for nurses and healthcare professionals early in their careers,” said Tamaryn Clowdus, physical therapist, and Co-Chair of the MNA Bargaining Committee at Berkshire VNA. “We also need reasonable cost-of-living increases for the experienced clinicians who have stayed with the VNA through difficult years. Building a stable workforce and supporting our home care patients requires a focus on both recruitment and retention.”

BVNA nurses and healthcare professionals provide care that helps patients manage illness, recover after hospitalization and remain safely at home. Experienced clinicians bring clinical judgment, knowledge of their communities and familiarity with patients’ needs. These are important community assets that are difficult to replace when staff leave.

With Berkshire Medical Center experiencing high patient volume, sufficient levels of home care staffing matters more than just the patients receiving visits. Ready access to home care can help patients who are ready to leave the hospital return home with the support they need, making more hospital beds available for people requiring acute care.

“Berkshire Medical Center nurses stand with our BVNA colleagues in their efforts to secure a fair contract that strengthens home care in Berkshire County,” said Sarah Roberts, RN, MNA Co-Chair at Berkshire Medical Center. “We see every day how much our patients depend on having care available when they return home. Supporting the clinicians who provide that care helps patients leave the hospital safely and keeps beds available for others who need acute care.”

The BVNA petition also calls for reasonable and achievable productivity expectations developed with clinicians and grounded in the realities of home care. A visit involves more than time spent in a patient’s home. Clinicians must also document care, coordinate services, communicate with providers and families, and travel between patients.

MassNurses.org │ Facebook.com/MassNurses │ Twitter.com/MassNurses │ Instagram.com/MassNurses 

Founded in 1903, the Massachusetts Nurses Association is the largest union of registered nurses in the Commonwealth of Massachusetts. Its 26,000 members advance the nursing profession by fostering high standards of nursing practice, promoting the economic and general welfare of nurses in the workplace, projecting a positive and realistic view of nursing, and by lobbying the Legislature and regulatory agencies on health care issues affecting nurses and the public.

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SOURCE Massachusetts Nurses Association

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