Fundrise is expanding its options once again with their newest Reg A+ filing that his the SEC today. Fundrise, an online investment platform for real estate, has filed for a National For Sale House eFund. Fundrise has previously announced targeted eFunds dedicated to specific metro markets. Fundrise will be offering up to $50 million in common shares to the public at $10.00 per share. The minimum investment in our common shares for initial purchases is 100 shares, or $1,000 based on the current per share price. The offering circular has all the information you may want to review and this specific eFund is not yet available on the Fundrise real estate investing platform.
Fundrise National For-Sale Housing eFund, LLC was formed to acquire property for the development of for-sale housing in metro areas other than Los Angeles and Washington, DC – where Fundrise currently has targeted eFunds. Fundrise will be using any funds raised to acquire property and develop single family housing: IE detached, townhouses and condos. Fundrise may also invest in commercial or residential properties that can be repurposed into For-Sale Housing.
So how is this different from Fundrise’s eREIT offerings under Reg A+? Well taxes for one. As an LLC, the company will be taxed at the shareholder level. Fundrise also expects to be one of the new non-exchange traded real estate investment offerings targeting the For Sale Housing market. Fundrise intends to immediately offer properties for resale soon after acquisition. The company intends to acquire a diversified portfolio of real estate assets for development and sale and pay distributions on any gains.
Fundrise is betting on an increase in demand for housing by the Millennial generation. This demand is apparently overtaking supply. It will be interesting to see how Fundrise’s eFunds do regarding investor interest in the coming months.
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