The Fundrise Equity REIT, or Growth eREIT, has filed with the SEC to raise up to $45,730,440 under Reg A+. The amount includes $11.8 million from a previous offering circular. The Growth eREIT focuses on acquiring commercial real estate assets with the expectation they will appreciate over time. The strategy is centered primarily on multi-family assets.
The Growth eREIT most recently paid an 8% dividend. The goal is to provide liquidity to investors after approximately 5 years. In the interim, Fundrise has provided a degree of liquidity for investors interested in exiting. According to the offering circular, as of December 31, 2016, 56,857 common shares were submitted for redemption and 100% of the requests have been honored.
The first Growth eREIT sold out at the maximum amount under Reg A+ of $50 million.
Investors may purchase shares in the eREIT with at a minimum $1000. Under Reg A+, both accredited and non-accredited investors may participate.
The Growth eREIT Offering Circular indicates that Fundrise may employ leverage but to date the company has not exercised this option.
Fundrise was the first real estate platform to leverage Reg A+ rules to create a fund that enables smaller investors to invest in property. Since its first eREIT, Fundrise has created a diverse grouping of eREITs and funds.
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