0001144204-19-018199.txt : 20190404 0001144204-19-018199.hdr.sgml : 20190404 20190404164756 ACCESSION NUMBER: 0001144204-19-018199 CONFORMED SUBMISSION TYPE: 1-U PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190329 ITEM INFORMATION: Other Events FILED AS OF DATE: 20190404 DATE AS OF CHANGE: 20190404 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FUNDRISE REAL ESTATE INVESTMENT TRUST, LLC CENTRAL INDEX KEY: 0001645583 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 320467957 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 1-U SEC ACT: 1933 Act SEC FILE NUMBER: 24R-00005 FILM NUMBER: 19732703 BUSINESS ADDRESS: STREET 1: 1519 CONNECTICUT AVENUE NW STREET 2: STE 200 CITY: WASHINGTON STATE: DC ZIP: 20036 BUSINESS PHONE: 2025840550 MAIL ADDRESS: STREET 1: 1519 CONNECTICUT AVENUE NW STREET 2: STE 200 CITY: WASHINGTON STATE: DC ZIP: 20036 1-U 1 tv518225_1u.htm FORM 1-U

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 1-U

 

CURRENT REPORT

Pursuant Regulation A of the Securities Act of 1933

 

March 29, 2019

(Date of Report (Date of earliest event reported))

 

FUNDRISE REAL ESTATE INVESTMENT TRUST, LLC

(Exact name of registrant as specified in its charter)

 

Delaware 32-0467957
(State or other jurisdiction of incorporation) (IRS Employer Identification No.)
   
1601 Connecticut Ave., Suite 300, Washington, DC 20009
(Address of principal executive offices) (ZIP Code)

 

(202) 584-0550
(Registrant’s telephone number, including area code)

 

Common Shares

(Title of each class of securities issued pursuant to Regulation A)

 

 

 

 

Item 9.Other Events

 

Asset Updates

 

Controlled Subsidiary Investment – RPQ Delaware, LLC

 

On January 7, 2016, we acquired ownership of Class B Units (the “Units”) of RPQ Delaware, LLC, a Delaware limited liability company (“RPQ”), which is managed by Evergreen Housing Development Group, LLC, a Washington limited liability company (“Evergreen”), for the purchase price of $2,000,000, which is the initial stated value of the Units.  Evergreen used the proceeds from the sale of the Units to refinance a stabilized 228-unit garden style multifamily apartment property located at 3003 Queensgate Drive, Richland, WA 99352 (the “Property”).  On November 5, 2018, RPQ paid off $1,900,000 of the original investment, and on March 29, 2019, RPQ paid off the remaining $100,000 of the investment. All preferred return payments have been paid in full during the investment period, and the investment has yielded an internal rate of return of approximately 13.0% through March 29, 2019.

 

 

Safe Harbor Statement

 

This Current Report on Form 1-U contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in our Offering Statement on Form 1-A dated February 27, 2019, filed with the Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in our periodic filings and prospectus supplements filed with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in our filings with the SEC. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

 

 

SIGNATURES

 

Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  FUNDRISE REAL ESTATE INVESTMENT TRUST, LLC
     
  By: Fundrise Advisors, LLC
  Its: Manager
     
  By: /s/ Bjorn J. Hall  
  Name:   Bjorn J. Hall
  Title: General Counsel

 

Date:April 4, 2019