Fundrise Income Real Estate Fund, LLC

Last Updated 04/05/2024

This fund recently launched or we are in the process of collecting the data

Shows hypothetical growth of $1000 since inception

Nav Per Share

0%

Current Yield

0.00%

Total Return

02/03/2022

Inception

$581,645,443

Total Managed Assets*

Not Available

Ticker

$1,000

Minimum Investment

1.26%

Net Expense Ratio

*represents total managed funds for the fund complex

About The Fund

Fundrise registers its third interval fund, marking the first interval fund electing to be taxed as a REIT. The Fund's investment objective is to provide investors with attractive income and capital preservation, with the familiar minimum investment of just $1000.


Like its flagship interval fund, the Fundrise Income Real Estate Fund expects to invest substantially all of its assets into real estate securities; however, this fund has a more direct approach, focused on originating, acquiring, and structuring real estate loans in income-generating properties.


The Fund seeks to achieve this by acquiring six existing Fundrise REITs, according to a recent N-14 filing, with the goal of providing quarterly liquidity to shareholders without substantially altering the investment strategies of the to-be-acquired funds. Additional stated benefits include reducing administrative costs, improving competition on deal flow, reducing risk through diversification, reducing leverage costs, and ultimately seeking to maximize returns to shareholders.


The Fund: Fundrise Income Real Estate Fund, LLC (the “Fund”) is a newly organized Delaware limited liability company that is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a non-diversified, closed-end management investment company that is operated as an “interval fund.” The Fund intends to elect to be taxed as a real estate investment trust (a “REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”).


The Mission: Rise Companies Corp. (“Rise Companies”), the Fund’s sponsor, owns and operates through its subsidiary Fundrise, LLC, an investment platform available both online at www.fundrise.com and through various mobile applications sponsored by Rise Companies . Rise Companies believes in leveraging technology to build a better financial system that empowers individuals. With technology, Rise Companies can create a more efficient mechanism than the conventional financial system to invest in real estate and other alternative assets. Please see “Plan of Distribution” for more information on Rise Companies’ mission to make real estate and alternative asset investing easier and more efficient for retail investors.


Investment Objective: The Fund’s investment objective is to seek to pay attractive, consistent cash distributions and to preserve, protect and return your capital contribution. The Fund’s investment objective is non-fundamental and may be changed by the Fund’s Board of Directors (the “Board”) without approval of the Fund’s shareholders (“Shareholders”). There can be no assurance that the Fund will achieve its investment objective.


Investment Strategies: The Fund pursues its investment objective by originating, investing in and managing a portfolio of residential and commercial real estate investments. The Fund expects to invest substantially all of its assets to originate, acquire and structure real estate loans (including senior mortgage loans, subordinated mortgage loans (also referred to as B-Notes), mezzanine loans, and participations in such loans), to acquire investments in income generating properties and other real estate that generates current payments, to acquire, hold and finance land for future development, and to acquire investments in other residential and commercial real estate (including through co-investment arrangements, joint ventures, and majority-owned subsidiaries with rights to receive preferred economic returns (collectively, “Real Estate Investment Vehicles”)). The Fund may also invest in residential and commercial real estate-related debt securities (including commercial mortgage-backed securities (“CMBS”), residential mortgage-backed securities (“RMBS”), collateralized debt obligations (“CDOs”), and REIT senior unsecured debt), and other real estate-related assets. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in residential and commercial real estate, the securities of real estate and real estate-related issuers, and real estate-related loans or other debt securities. For this purpose, real estate-related companies are those that derive at least 50% of their revenues or profits from the ownership, construction, management, financing or sale of real estate, or have at least 50% of the fair market value of their assets invested in real estate.


Adviser: Fundrise Advisors, LLC


Administrator: Fundrise Advisors, LLC


Legal Counsel: Stradley Ronon Stevens & Young, LLP


Legal Partner: Sara P. Crovitz

Fund Materials

Fund Docs

Fund Class Docs

HISTORICAL DATA

Percentage and dollar changes represent the increase or decrease in the NAV from the preceding trading day.

Regulatory Materials

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