0001104659-23-111399.txt : 20231025 0001104659-23-111399.hdr.sgml : 20231025 20231025153459 ACCESSION NUMBER: 0001104659-23-111399 CONFORMED SUBMISSION TYPE: 1-U PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20231019 ITEM INFORMATION: Other Events FILED AS OF DATE: 20231025 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FUNDRISE BALANCED EREIT II, LLC CENTRAL INDEX KEY: 0001803986 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 844465115 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 1-U SEC ACT: 1933 Act SEC FILE NUMBER: 24R-00380 FILM NUMBER: 231345480 BUSINESS ADDRESS: STREET 1: 11 DUPONT CIRCLE NW STREET 2: 9TH FLOOR CITY: WASHINGTON STATE: DC ZIP: 20036 BUSINESS PHONE: 2025840550 MAIL ADDRESS: STREET 1: 11 DUPONT CIRCLE NW STREET 2: 9TH FLOOR CITY: WASHINGTON STATE: DC ZIP: 20036 1-U 1 tm2329159d1_1u.htm FORM 1-U

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 1-U

CURRENT REPORT

Pursuant to Regulation A of the Securities Act of 1933

October 19, 2023

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

FUNDRISE BALANCED EREIT II, LLC

(Exact name of registrant as specified in its charter)

Delaware	84-4465115
(State or other jurisdiction of incorporation)	(IRS Employer Identification No.)

11 Dupont Circle NW, 9th Floor, Washington, DC	20036
(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 Update

Mason Palm Bay Controlled Subsidiary - Port St. Lucie, FL

On October 8, 2021, we directly acquired ownership of a “majority-owned subsidiary”, WP MalabarPB MF-FL Holdings, LLC (the “Mason Palm Bay Controlled Subsidiary”), in which we had the right to receive a preferred economic return for a purchase price of approximately $603,000, which was the initial stated value of our equity interest in a new investment round in the Mason Palm Bay Controlled Subsidiary (the “Mason Palm Bay Balanced eREIT II Investment”). Fundrise Real Estate Interval Fund, LLC acquired ownership of the remaining equity interest in the new investment round in the Mason Palm Bay Controlled Subsidiary, for a purchase price of approximately $5,425,000 (the “Mason Palm Bay Interval Fund Investment” and, together with the Mason Palm Bay Balanced eREIT II Investment, the “Mason Palm Bay Investment''), bringing the Mason Palm Bay Investment to a total of $6,028,000. The Mason Palm Bay Controlled Subsidiary used the proceeds from the Mason Palm Bay Investment to construct a 252-unit multifamily property totaling approximately 221,000 square feet of rentable area located at 970 Malabar Rd, Palm Bay, FL 32907 (the “Mason Palm Bay Property”). Details of this acquisition can be found here.

On October 19, 2023, the Mason Palm Bay Controlled Subsidiary paid back the Mason Palm Bay Investment for the full amount of principal, plus interest, through the refinance of the Mason Palm Bay Property. The Mason Palm Bay Investment yielded an annualized rate of return of approximately 12.5%.

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, and Section 21E of the Securities Exchange Act of 1934, as amended. 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 the most recently qualified Offering Statement on Form 1-A filed with the Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in our periodic filings and offering circular 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 BALANCED eREIT II, LLC


	By:	Fundrise Advisors, LLC
	Its:	Manager

	By:	/s/ Bjorn J. Hall
	Name:	Bjorn J. Hall
	Title:	General Counsel

Date: October 25, 2023