Latest Fundrise Assets Under Management And Performance
Just informational. I have no affiliation with any of the companies I talk about below.
This post is just to start a discussion about the Fundrise REIT offering.
Fundrise Real Estate Investment Trust, LLC is "... offering up to $50,000,000 in our common shares, which represent limited liability company interests in our company, to the public at $10.00 per share" per their offering circular registered with the SEC. (Not sure why they filed via a 253(g)(2) vs. S-1/S-11)
This newly formed company with virtually no ($1,000) assets will hold investment assets and will be run as a non-exchange traded public REIT.
This is the latest of at least eight 'Fundrise' entities, excluding the Fundrise Investment X, LLCs (X looks to be between NULL and 17 currently.) The chart on page 12 of the offering circular helped quite a bit in my understanding where/what/how entities relate to each other and how they are paid (e.g. with pages 57-59, $1M up front plus annualized 1% offering proceeds until 2016Q2, then NAV to Fundrise Advisors, LLC, etc.) The Q&A on pages 1-9 is helpful as well.
An interesting part, IMO, starts on page 84. This section describes the performance of the sponsor (Rise Companies, Corp.) which is at the top of the chart on page 12.
Appendix A shows the sponsor's history on its 35 or so funding activities. Rise Company, Corp. only has 2 SEC filings, both Reg D...
so without an S-1 or S-11, hard to tell decisively what they look like.
I don't know if the management intends to do an IPO for the "Fundrise Platform", owned and operated by Fundrise, LLC.
Is Investing in Fundrise IPO a great Investment?
That's a different entity not in the chart on page 12. Fundrise, LLC is a wholly-owned subsidiary of Rise Companies Corp., the sponsor.
I'd guess it's too early in the CF game to think about taking the platform public.
I'm curious as to what BP Nation will post.