Fundrise has slowly but surely been expanding their ability to offer shares of real estate-backed securities to non-accredited investors. The equity crowdfunding platform has just crossed a major hurdle in that fight, and it could spell a big opportunity for Maryland’s Main Street investor class.
A new deal is set to launch that seeks to fund a boutique retail building in Washington DC. The property – located at 1539 7th Street NW – is in the Shaw neighborhood, said to be “experiencing an unprecedented renaissance because of its location at the center of downtown, 14th Street, and U Street and its rich cultural history.”
More notably, this is the first time Maryland residents will be able to invest alongside investors from Virginia and DC. The Maryland Securities Division just gave Fundrise the green light to offer securities to the state’s non-accredited investors under Regulation A.
We have done three Regulation A offerings, more than anyone in the country–approximately 20% of all the Regulation A offerings cleared by the SEC nationally in the past three years. So it’s fairly safe to say we are both an expert on it and can showcase with our latest project on 1539 7th St how it works and why it’s an important story.Fundrise co-founder Ben Miller, in Forbes
The project on 7th Street will become available in a little under three weeks at the time of writing. $350,000 of the $2 million total investment will be made available to non-accredited investors, with the remainder being earmarked for the accredited set.
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