UNITED STATES SECURITIES AND EXCHANGE COMMISSION
	Washington, D.C. 20549
FORM 1-U
CURRENT REPORT PURSUANT TO REGULATION A
Date of Report: July 25, 2025
ARRIVED HOMES, LLC
(Exact name of issuer as specified in its Certificate of Formation)
Delaware			88-2046587
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)
		1700 Westlake Ave North, Suite 200 Seattle, WA 98109
		(Full mailing address of principal executive offices)
		(814)-277-4833
		(Issuer’s telephone number)
		www.arrived.com
		(Issuer’s website)

Arrived Homes Series Lierly; Arrived Homes Series Soapstone; Arrived Homes Series Pecan; Arrived Homes Series Patrick; Arrived Homes Series Plumtree; Arrived Homes Series Chaparral; Arrived Homes Series Splash; Arrived Homes Series Tuscan; Arrived Homes Series Salem; Arrived Homes Series Malbec; Arrived Homes Series Pinot; Arrived Homes Series Luna; Arrived Homes Series Kingsley; Arrived Homes Series Shoreline; Arrived Homes Series Holloway; Arrived Homes Series Badminton; Arrived Homes Series Eastfair; Arrived Homes Series Mojave; Arrived Homes Series Wentworth; Arrived Homes Series Cupcake; Arrived Homes Series Basil; Arrived Homes Series Lallie; Arrived Homes Series Dewberry; Arrived Homes Series Spencer; Arrived Homes Series Summerset; Arrived Homes Series Roseberry; Arrived Homes Series Windsor; Arrived Homes Series Forest; Arrived Homes Series Meadow; Arrived Homes Series Collinston; Arrived Homes Series Saddlebred; Arrived Homes Series Odessa; Arrived Homes Series Lily; Arrived Homes Series Saturn; Arrived Homes Series Sugar; Arrived Homes Series Coatbridge; Arrived Homes Series Lennox; Arrived Homes Series Olive; Arrived Homes Series Dawson; Arrived Homes Series Ridge; Arrived Homes Series Bayside; Arrived Homes Series Elm; Arrived Homes Series River; Arrived Homes Series Amber; Arrived Homes Series Westchester; Arrived Homes Series Limestone; Arrived Homes Series Jupiter; Arrived Homes Series Weldon; Arrived Homes Series Holland; Arrived Homes Series Elevation; Arrived Homes Series Oly; Arrived Homes Series McLovin; Arrived Homes Series Matchingham; Arrived Homes Series Rooney; Arrived Homes Series Diablo; Arrived Homes Series KerriAnn; Arrived Homes Series Sigma; Arrived Homes Series Grant; Arrived Homes Series Bandelier; Arrived Homes Series Ensenada; Arrived Homes Series Davidson; Arrived Homes Series Vernon; Arrived Homes Series Murphy; Arrived Homes Series Dolittle; Arrived Homes Series Butter; Arrived Homes Series Ribbonwalk; Arrived Homes Series Scepter; Arrived Homes Series Delta; Arrived Homes Series Saint; Arrived Homes Series Lovejoy; Arrived Homes Series Emporia; Arrived Homes Series Wave; Arrived Homes Series Tuxford; Arrived Homes Series Greenhill; Arrived Homes Series Kawana; Arrived Homes Series Chelsea; Arrived Homes Series Terracotta; Arrived Homes Series Otoro; Arrived Homes Series Hollandaise; Arrived Homes Series Hadden; Arrived Homes Series Avebury; Arrived Homes Series Tulip; Arrived Homes Series Jack; Arrived Homes Series Bedford; Arrived Homes Series Louise; Arrived Homes Series Gardens; Arrived Homes Series Peanut; Arrived Homes Series 100; Arrived Homes Series Grove; Arrived Homes Series Lanier; Arrived Homes Series Mammoth; Arrived Homes Series McGregor; Arrived Homes Series Point; Arrived Homes Series Roxy; Arrived Homes Series Wisteria; Arrived Homes Series Heron; Arrived Homes Series Stonebriar; Arrived Homes Series Heritage; Arrived Homes Series Magnolia; Arrived Homes Series Kirkwood; Arrived Homes Series Rosewood; Arrived Homes Series Apollo; Arrived Homes Series Baron; Arrived Homes Series Swift; Arrived Homes Series Wescott; Arrived Homes Series Wildwood; Arrived Homes Series Madison; Arrived Homes Series Abbington; Arrived Homes Series Burlington; Arrived Homes Series Lannister; Arrived Homes Series Nugget; Arrived Homes Series Pearl; Arrived Homes Series Hines; Arrived Homes Series Ritter; Arrived Homes Series 101; Arrived Homes Series Jake; Arrived Homes Series Holcomb; Arrived Homes Series Latte; Arrived Homes Series Dunbar; Arrived Homes Series Lookout; Arrived Homes Series Reynolds; Arrived Homes Series Kennesaw; Arrived Homes Series Pioneer; Arrived Homes Series Bazzel; Arrived Homes Series June; Arrived Homes Series Johnny; Arrived Homes Series Osprey; Arrived Homes Series Riverwalk; Arrived Homes Series Collier; Arrived Homes Series Folly; Arrived Homes Series Dorchester; Arrived Homes Series Dogwood; Arrived Homes Series Walton; Arrived Homes Series Clover; Arrived Homes Series Dolly; Arrived Homes Series Kenny; Arrived Homes Series Creekside; Arrived Homes Series Willow; Arrived Homes Series Wilson; Arrived Homes Series Daisy; Arrived Homes Series Henry; Arrived Homes Series Sodalis; Arrived Homes Series Loretta; Arrived Homes Series Conway; Arrived Homes Series Belle; Arrived Homes Series Chitwood; Arrived Homes Series Spring; Arrived Homes Series Highland; Arrived Homes Series Wellington; Arrived Homes Series Braxton; Arrived Homes Series Reginald; Arrived Homes Series Camino; Arrived Homes Series Winston; Arrived Homes Series Inglewood; Arrived Homes Series Richardson; Arrived Homes Series Cumberland; Arrived Homes Series Bonneau; Arrived Homes Series Blossom; Arrived Homes Series Marcelo; Arrived Homes Series Taylor; Arrived Homes Series Aster; Arrived Homes Series Quincy; Arrived Homes Series Jill; Arrived Homes Series Marietta; Arrived Homes Series Mae; Arrived Homes Series Chester; Arrived Homes Series Shallowford; Arrived Homes Series Cypress; Arrived Homes Series Harrison; Arrived Homes Series Piedmont; Arrived Homes Series Kessler; Arrived Homes Series Creekwood; Arrived Homes Series Hansel; Arrived Homes Series Falcon; Arrived Homes Series Eagle; Arrived Homes Series Goose; Arrived Homes Series Gretal; Arrived Homes Series Mimosa; Arrived Homes Series Redondo; Arrived Homes Series Sundance; Arrived Homes Series Chickamauga; Arrived Homes Series Sequoyah; Arrived Homes Series Litton; Arrived Homes Series Brainerd; Arrived Homes Series Brooklyn; Arrived Homes Series Lurleen; Arrived Homes Series Regency; Arrived Homes Series Sunnyside; Arrived Homes Series Korin; Arrived Homes Series Dops; Arrived Homes Series Brennan; Arrived Homes Series Sajni; Arrived Homes Series Tuscarora; Arrived Homes Series Salinas; Arrived Homes Series Hansard; Arrived Homes Series Jefferson; Arrived Homes Series Marie; Arrived Homes Series Ella; Arrived Homes Series Douglas; Arrived Homes Series Cove; Arrived Homes Series Belvedere; Arrived Homes Series Avondale; Arrived Homes Series Martell; Arrived Homes Series Mycroft; Arrived Homes Series Longwoods; Arrived Homes Series Louis; Arrived Homes Series Fenwick; Arrived Homes Series Sims; Arrived Homes Series Osceola; Arrived Homes Series Augusta; Arrived Homes Series Cawley; Arrived Homes Series Bella; Arrived Homes Series Foster; Arrived Homes Series Franklin; Arrived Homes Series General; Arrived Homes Series Marion; Arrived Homes Series Marple; Arrived Homes Series Mary; Arrived Homes Series Onyx; Arrived Homes Series Palmer; Arrived Homes Series Porthos; Arrived Homes Series Simon; Arrived Homes Series Theodore; Arrived Homes Series Chinook; Arrived Homes Series Bergenia; Arrived Homes Series Felix; Arrived Homes Series Oscar; Arrived Homes Series Ellen; Arrived Homes Series Alvin; Arrived Homes Series Ballinger; Arrived Homes Series Briarwood; Arrived Homes Series Eastwood; Arrived Homes Series Abernant; Arrived Homes Series Calvin; Arrived Homes Series Fletcher; Arrived Homes Series Hargrave; Arrived Homes Series Hobbes; Arrived Homes Series Irene; Arrived Homes Series Peterson; Arrived Homes Series Richmond; Arrived Homes Series Winchester

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

1

ITEM 9. OTHER EVENTS

Net Asset Value as of July 25, 2025

As of 8:00 AM Eastern Time, Friday, July 25, 2025, our net asset value (“NAV”) per interest for each series is set in the table below. This NAV per interest shall be effective until updated by us on or about October 25, 2025.

Series		NAV Per Interest
Lierly	$	26.63
Soapstone	$	24.33
Pecan	$	19.35
Patrick	$	17.49
Plumtree	$	17.25
Chaparral	$	18.28
Splash	$	15.57
Tuscan	$	16.78
Salem	$	17.70
Malbec	$	17.81
Pinot	$	18.32
Luna	$	13.56
Kingsley	$	12.25
Shoreline	$	10.56
Holloway	$	13.10
Badminton	$	13.42
Eastfair	$	13.03
Mojave	$	15.91
Wentworth	$	15.76
Cupcake	$	16.64
Basil	$	14.70
Lallie	$	7.10
Dewberry	$	12.06
Spencer	$	12.53
Summerset	$	14.36
Roseberry	$	12.63
Windsor	$	11.56
Forest	$	11.52
Meadow	$	11.48
Collinston	$	10.94
Saddlebred	$	9.21
Odessa	$	9.49
Lily	$	8.67
Saturn	$	11.45
Sugar	$	11.82
Coatbridge	$	10.55
Lennox	$	12.94
Olive	$	10.80
Dawson	$	11.91
Ridge	$	12.44
Bayside	$	12.08
Elm	$	15.92
River	$	13.89
Amber	$	11.70
Westchester	$	10.56
Limestone	$	10.00
Jupiter	$	12.20
Weldon	$	12.60
Holland	$	12.17
Elevation	$	8.05
Oly	$	8.83
McLovin	$	9.59
Matchingham	$	11.85
Rooney	$	10.42
Diablo	$	9.44
KerriAnn	$	9.08
Sigma	$	11.20
Grant	$	13.12
Bandelier	$	11.45
Ensenada	$	9.14
Davidson	$	12.18
Vernon	$	10.32
Murphy	$	12.70
Dolittle	$	12.23
Butter	$	12.36
Ribbonwalk	$	12.23
Scepter	$	10.73
Delta	$	5.13
Saint	$	10.33
Lovejoy	$	7.44
Emporia	$	5.58
Wave	$	4.95
Tuxford	$	7.46
Greenhill	$	11.08
Kawana	$	10.21
Chelsea	$	9.53
Terracotta	$	8.70
Otoro	$	4.83
Hollandaise	$	10.16
Hadden	$	10.24
Avebury	$	9.63
Tulip	$	8.89
Jack	$	10.67
Bedford	$	10.67
Louise	$	10.24
Gardens	$	9.84
Peanut	$	10.97
100	$	9.18
Grove	$	9.70
Lanier	$	10.47
Mammoth	$	9.30
McGregor	$	10.02
Point	$	9.32
Roxy	$	9.52
Wisteria	$	11.15
Heron	$	11.48
Stonebriar	$	8.74
Heritage	$	9.46
Magnolia	$	8.00
Kirkwood	$	8.96
Rosewood	$	10.30
Apollo	$	9.50
Baron	$	8.38
Swift	$	9.54
Wescott	$	9.09
Wildwood	$	11.75
Madison	$	8.09
Abbington	$	9.81
Burlington	$	8.87
Lannister	$	8.26
Nugget	$	8.53
Pearl	$	8.85
Hines	$	10.01
Ritter	$	9.46
101	$	8.74
Jake	$	8.57
Holcomb	$	8.90
Latte	$	10.28
Dunbar	$	8.89
Lookout	$	10.22
Reynolds	$	8.87
Kennesaw	$	9.92
Pioneer	$	8.93
Bazzel	$	9.99
June	$	8.98
Johnny	$	9.06
Osprey	$	10.05
Riverwalk	$	10.54
Collier	$	10.79
Folly	$	9.92
Dorchester	$	9.70
Dogwood	$	10.35
Walton	$	10.12
Clover	$	9.48
Dolly	$	9.13
Kenny	$	9.27
Creekside	$	10.30
Willow	$	10.07
Wilson	$	10.39
Daisy	$	10.75
Henry	$	8.33
Sodalis	$	9.00
Loretta	$	9.54
Conway	$	9.28
Belle	$	8.29
Chitwood	$	10.48
Spring	$	9.79
Highland	$	9.70
Wellington	$	9.30
Braxton	$	10.12
Reginald	$	8.22
Camino	$	9.69
Winston	$	9.57
Inglewood	$	10.07
Richardson	$	10.88
Cumberland	$	9.48
Bonneau	$	10.27
Blossom	$	10.31
Marcelo	$	10.06
Taylor	$	9.37
Aster	$	10.32
Quincy	$	9.05
Jill	$	9.27
Marietta	$	9.22
Mae	$	10.37
Chester	$	10.83
Shallowford	$	9.34
Cypress	$	8.84
Harrison	$	10.51
Piedmont	$	7.80
Kessler	$	9.90
Creekwood	$	9.43
Hansel	$	8.37
Falcon	$	13.85
Eagle	$	13.73
Goose	$	15.31
Gretal	$	9.88
Mimosa	$	10.60
Redondo	$	10.73
Sundance	$	9.69
Chickamauga	$	10.36
Sequoyah	$	9.69
Litton	$	11.45
Brainerd	$	11.51
Brooklyn	$	9.17
Lurleen	$	9.41
Regency	$	12.63
Sunnyside	$	10.56
Korin	$	11.20
Dops	$	10.68
Brennan	$	9.11
Sajni	$	10.75
Tuscarora	$	11.22
Salinas	$	10.86
Hansard	$	11.08
Jefferson	$	10.88
Marie	$	12.03
Ella	$	10.10
Cove	$	9.85
Belvedere	$	9.96
Avondale	$	9.52
Martell	$	9.86
Mycroft	$	9.83
Longwoods	$	9.81
Louis	$	9.88
Fenwick	$	9.86
Sims	$	9.87
Osceola	$	9.55
Augusta	$	9.99
Cawley	$	9.90
Bella	$	9.99
Foster	$	11.01
Franklin	$	10.13
General	$	10.06
Marion	$	10.40
Marple	$	9.62
Mary	$	10.94
Onyx	$	9.58
Palmer	$	9.57
Porthos	$	9.97
Simon	$	10.24
Theodore	$	10.18
Chinook	$	9.64
Bergenia	$	10.05
Felix	$	9.80
Oscar	$	9.90
Ellen	$	9.83
Alvin	$	11.47
Ballinger	$	10.27
Briarwood	$	10.00
Eastwood	$	10.95
Abernant	$	10.12
Calvin	$	9.96
Fletcher	$	10.25
Hargrave	$	9.36
Hobbes	$	9.81
Irene	$	10.14
Peterson	$	10.31
Richmond	$	9.70
Winchester	$	10.25

The following sets forth the calculation of each series' NAV per interest:

BALANCE SHEET (UNAUDITED) [1]

		100			101			Abbington			Abernant			Alvin		Amber			Apollo
ASSETS
Current assets:
Cash		13,247		$	6,213		$	9,660		$	13,623		$	25,491	$	5,154		$	2,079
Other receivables		-			-			-			-			-		-			-
Prepaid expenses		-			-			233			212			254		3,567			3,367
Deposits		5,586			6,262			8,439			3,942			1,749		3,799			2,981
Property and equipment, net		568,626			595,121			448,123			218,673			305,736		276,826			192,021
Total assets	$	587,459		$	607,596		$	466,454		$	236,450		$	333,229	$	289,347		$	200,449
LIABILITIES
Current liabilities:
Accrued expenses	$	5,154		$	2,814		$	2,469		$	2,595		$	2,691	$	2,435		$	1,453
Accounts payable		-			-			-			-			-		-			-
Due to (from) related parties		22,968			29,059			18,729			3,031			4,529		5,885			4,057
Tenant deposits		2,995			3,095			2,845			1,745			2,545		1,950			1,345
Note payable, related party		-			17,900			-			-			-		6,900			20,000
Mortgage payables		-			-			-			-			-		198,850			133,368
Total Liabilities	$	31,117		$	52,868		$	24,043		$	7,371		$	9,765	$	216,019		$	160,223
MEMBERS' EQUITY
Members' capital		580,787			624,713			457,624			236,429			318,099		110,024			70,298
Accumulated deficit		(24,445	)		(69,985	)		(15,212	)		(7,349	)		5,365		(36,697	)		(30,072	)
Total members' equity (deficit)		556,342			554,728			442,412			229,079			323,464		73,327			40,225
Total liabilities and members' equity (deficit)	$	587,459		$	607,596		$	466,454		$	236,450		$	333,229	$	289,347		$	200,449
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		556,342			554,728			442,412			229,079			323,464		73,327			40,225
Net adjustments to fair value		78,116			70,943			96,080			46,397			105,048		93,946			45,203
TOTAL NET ASSETS	$	634,458		$	625,671		$	538,492		$	275,476		$	428,513	$	167,274		$	85,428
NET ASSET VALUE PER INTEREST	$	9.18		$	8.74		$	9.81		$	10.12		$	11.47	$	11.70		$	9.50

		Aster			Augusta			Avebury			Avondale			Badminton			Ballinger			Bandelier
ASSETS
Current assets:
Cash		5,432		$	21,410		$	4,463		$	9,509		$	5,066		$	6,797		$	7,276
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		2,954			509			2,619			-			2,201			0			4,887
Deposits		3,908			4,021			4,624			3,885			4,960			4,551			3,746
Property and equipment, net		237,555			283,226			267,675			314,368			234,026			289,582			320,198
Total assets	$	249,848		$	309,166		$	279,381		$	327,761		$	246,252		$	300,930		$	336,107
LIABILITIES
Current liabilities:
Accrued expenses	$	1,391		$	3,199		$	1,391		$	3,004		$	1,484		$	1,878		$	1,532
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		5,536			4,673			5,804			5,356			4,247			4,242			6,713
Tenant deposits		2,245			1,995			1,795			1,995			2,195			2,320			2,245
Note payable, related party		9,700			-			5,400			-			17,300			-			-
Mortgage payables		124,493			-			200,974			-			172,040			-			242,652
Total Liabilities	$	143,365		$	9,867		$	215,364		$	10,355		$	197,266		$	8,440		$	253,142
MEMBERS' EQUITY
Members' capital		148,122			301,320			93,625			334,698			77,201			303,788			117,823
Accumulated deficit		(41,639	)		(2,021	)		(29,607	)		(17,292	)		(28,215	)		(11,297	)		(34,858	)
Total members' equity (deficit)		106,483			299,299			64,018			317,406			48,986			292,491			82,965
Total liabilities and members' equity (deficit)	$	249,848		$	309,166		$	279,381		$	327,761		$	246,252		$	300,930		$	336,107
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		106,483			299,299			64,018			317,406			48,986			292,491			82,965
Net adjustments to fair value		71,715			52,276			55,976			53,110			95,492			69,492			85,881
TOTAL NET ASSETS	$	178,198		$	351,575		$	119,994		$	370,516		$	144,478		$	361,983		$	168,846
NET ASSET VALUE PER INTEREST	$	10.32		$	9.99		$	9.63		$	9.52		$	13.42		$	10.27		$	11.45

		Baron			Basil			Bayside			Bazzel			Bedford			Bella			Belle
ASSETS
Current assets:
Cash	$	7,540		$	7,249		$	4,240		$	6,174		$	4,235		$	7,938		$	11,806
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		0			2,230			4,631			943			3,637			492			799
Deposits		2,237			4,098			4,837			4,313			5,246			3,751			4,791
Property and equipment, net		541,747			181,952			230,589			248,024			258,412			293,017			408,846
Total assets	$	551,525		$	195,529		$	244,298		$	259,454		$	271,530		$	305,198		$	426,242
LIABILITIES
Current liabilities:
Accrued expenses	$	3,122		$	1,380		$	1,962		$	3,810		$	1,737		$	4,485		$	3,946
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		21,638			3,881			4,694			9,503			4,613			8,513			8,743
Tenant deposits		3,345			1,595			2,619			1,845			2,295			1,945			2,649
Note payable, related party		-			9,700			10,000			21,700			13,300			-			23,600
Mortgage payables		-			129,834			163,657			-			194,592			-			-
Total Liabilities	$	28,105		$	146,390		$	182,931		$	36,858		$	216,538		$	14,944		$	38,938
MEMBERS' EQUITY
Members' capital		546,690			62,009			85,206			249,005			90,397			313,189			429,419
Accumulated deficit		(23,270	)		(12,870	)		(23,839	)		(26,410	)		(35,404	)		(22,934	)		(42,114	)
Total members' equity (deficit)		523,420			49,139			61,367			222,595			54,992			290,255			387,305
Total liabilities and members' equity (deficit)	$	551,525		$	195,529		$	244,298		$	259,454		$	271,530		$	305,198		$	426,242
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		523,420			49,139			61,367			222,595			54,992			290,255			387,305
Net adjustments to fair value		21,185			89,807			87,106			67,084			75,368			72,054			26,751
TOTAL NET ASSETS	$	544,605		$	138,945		$	148,472		$	289,679		$	130,361		$	362,308		$	414,056
NET ASSET VALUE PER INTEREST	$	8.38		$	14.70		$	12.08		$	9.99		$	10.67		$	9.99		$	8.29

		Belvedere		Bergenia		Blossom			Bonneau			Brainerd			Braxton			Brennan
ASSETS
Current assets:
Cash	$	19,519	$	16,567	$	8,747		$	7,702		$	17,297		$	8,481		$	107
Other receivables		-		-		-			-			-			-			-
Prepaid expenses		0		0		208			267			325			487			3,737
Deposits		4,485		3,170		3,391			4,961			4,924			3,223			5,309
Property and equipment, net		281,574		208,541		237,084			314,815			273,080			301,232			209,730
Total assets	$	305,579	$	228,277	$	249,430		$	327,745		$	295,626		$	313,423		$	218,883
LIABILITIES
Current liabilities:
Accrued expenses	$	2,860	$	2,014	$	4,078		$	5,106		$	3,105		$	2,964		$	1,749
Accounts payable		-		-		-			-			-			-			-
Due to (from) related parties		5,083		3,518		5,237			7,076			6,194			6,474			3,885
Tenant deposits		2,295		1,845		1,845			2,295			2,595			2,045			1,545
Note payable, related party		-		-		7,400			7,000			-			10,700			35,200
Mortgage payables		-		-		-			-			143,188			-			154,001
Total Liabilities	$	10,238	$	7,377	$	18,560		$	21,477		$	155,082		$	22,183		$	196,379
MEMBERS' EQUITY
Members' capital		289,932		218,057		251,918			327,587			148,784			308,540			84,906
Accumulated deficit		5,408		2,843		(21,049	)		(21,318	)		(8,240	)		(17,300	)		(62,402	)
Total members' equity (deficit)		295,340		220,900		230,870			306,268			140,544			291,240			22,504
Total liabilities and members' equity (deficit)	$	305,579	$	228,277	$	249,430		$	327,745		$	295,626		$	313,423		$	218,883
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		295,340		220,900		230,870			306,268			140,544			291,240			22,504
Net adjustments to fair value		52,920		39,334		83,415			93,196			81,746			92,043			74,077
TOTAL NET ASSETS	$	348,261	$	260,234	$	314,284		$	399,465		$	222,290		$	383,283		$	96,581
NET ASSET VALUE PER INTEREST	$	9.96	$	10.05	$	10.31		$	10.27		$	11.51		$	10.12		$	9.11

		Briarwood			Brooklyn			Burlington			Butter			Calvin		Camino			Cawley
ASSETS
Current assets:
Cash	$	14,337		$	4,053		$	12,522		$	6,504		$	20,420	$	9,172		$	15,362
Other receivables		-			-			-			-			-		-			-
Prepaid expenses		237			227			1,428			5,198			199		3			545
Deposits		3,652			1,471			6,897			9,507			3,130		2,979			4,261
Property and equipment, net		200,640			158,976			601,822			344,231			226,641		246,594			300,393
Total assets	$	218,866		$	164,726		$	622,669		$	365,440		$	250,391	$	258,748		$	320,560
LIABILITIES
Current liabilities:
Accrued expenses	$	2,433		$	2,335		$	4,245		$	1,967		$	3,454	$	2,149		$	3,289
Accounts payable		-			-			-			-			-		-			-
Due to (from) related parties		3,027			3,319			34,229			6,808			3,361		5,357			5,119
Tenant deposits		1,995			1,249			3,195			2,795			1,795		1,595			2,195
Note payable, related party		-			13,100			-			24,200			-		-			-
Mortgage payables		-			81,962			-			260,022			-		-			-
Total Liabilities	$	7,455		$	101,965		$	41,669		$	295,793		$	8,610	$	9,101		$	10,604
MEMBERS' EQUITY
Members' capital		215,647			94,432			611,626			114,293			240,149		252,446			310,439
Accumulated deficit		(4,235	)		(31,672	)		(30,625	)		(44,646	)		1,632		(2,799	)		(483	)
Total members' equity (deficit)		211,411			62,761			581,001			69,647			241,781		249,647			309,956
Total liabilities and members' equity (deficit)	$	218,866		$	164,726		$	622,669		$	365,440		$	250,391	$	258,748		$	320,560
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		211,411			62,761			581,001			69,647			241,781		249,647			309,956
Net adjustments to fair value		42,350			44,934			59,793			125,910			40,221		48,907			57,123
TOTAL NET ASSETS	$	253,761		$	107,695		$	640,794		$	195,557		$	282,002	$	298,554		$	367,080
NET ASSET VALUE PER INTEREST	$	10.00		$	9.17		$	8.87		$	12.36		$	9.96	$	9.69		$	9.90

		Chaparral			Chelsea			Chester			Chickamauga		Chinook			Chitwood			Clover
ASSETS
Current assets:
Cash	$	11,362		$	9,297		$	9,802		$	16,421	$	9,990		$	11,674		$	5,273
Other receivables		-			-			-			-		-			-			-
Prepaid expenses		29			3,824			4,385			597		624			17			214
Deposits		3,320			4,837			6,242			6,025		4,170			5,306			403
Property and equipment, net		173,864			283,667			345,193			350,383		296,424			355,596			307,539
Total assets	$	188,575		$	301,625		$	365,622		$	373,425	$	311,208		$	372,593		$	313,429
LIABILITIES
Current liabilities:
Accrued expenses	$	5,934		$	2,487		$	1,361		$	2,534	$	3,291		$	4,256		$	2,924
Accounts payable		-			-			-			-		-			-			-
Due to (from) related parties		5,695			6,006			7,871			7,152		4,751			8,010			16,657
Tenant deposits		1,695			1,895			3,943			3,693		1,995			2,795			-
Note payable, related party		-			-			-			-		5,200			-			-
Mortgage payables		103,371			213,382			181,927			-		-			-			-
Total Liabilities	$	116,695		$	223,770		$	195,102		$	13,379	$	15,238		$	15,060		$	19,581
MEMBERS' EQUITY
Members' capital		71,882			96,468			206,186			354,439		311,407			360,212			310,409
Accumulated deficit		(2	)		(18,613	)		(35,666	)		5,608		(15,436	)		(2,679	)		(16,561	)
Total members' equity (deficit)		71,880			77,855			170,520			360,047		295,970			357,532			293,848
Total liabilities and members' equity (deficit)	$	188,575		$	301,625		$	365,622		$	373,425	$	311,208		$	372,593		$	313,429
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		71,880			77,855			170,520			360,047		295,970			357,532			293,848
Net adjustments to fair value		119,705			52,687			97,904			86,087		51,944			104,492			64,960
TOTAL NET ASSETS	$	191,585		$	130,542		$	268,425		$	446,134	$	347,914		$	462,024		$	358,809
NET ASSET VALUE PER INTEREST	$	18.28		$	9.53		$	10.83		$	10.36	$	9.64		$	10.48		$	9.48

		Coatbridge			Collier			Collinston			Conway			Cove			Creekside		Creekwood
ASSETS
Current assets:
Cash	$	2,987		$	7,148		$	2,966		$	8,697		$	5,463		$	13,085	$	6,815
Other receivables		-			-			-			-			-			-		-
Prepaid expenses		3,060			27			2,283			630			219			172		4,492
Deposits		4,086			4,685			7,420			7,117			10,348			4,139		5,701
Property and equipment, net		249,224			330,123			190,999			638,419			199,891			289,094		268,979
Total assets	$	259,358		$	341,984		$	203,667		$	654,863		$	215,921		$	306,489	$	285,987
LIABILITIES
Current liabilities:
Accrued expenses	$	1,734		$	1,724		$	1,500		$	3,138		$	2,772		$	5,865	$	1,344
Accounts payable		-			-			-			-			-			-		-
Due to (from) related parties		3,434			16,448			9,749			16,072			3,223			6,617		5,646
Tenant deposits		3,143			2,445			1,595			3,645			1,695			2,395		1,795
Note payable, related party		25,400			-			29,400			11,800			24,700			-		-
Mortgage payables		173,322			-			134,943			-			-			-		141,429
Total Liabilities	$	207,033		$	20,617		$	177,188		$	34,655		$	32,390		$	14,877	$	150,214
MEMBERS' EQUITY
Members' capital		95,883			328,325			82,386			663,345			218,887			284,377		163,940
Accumulated deficit		(43,558	)		(6,959	)		(55,907	)		(43,137	)		(35,356	)		7,235		(28,168	)
Total members' equity (deficit)		52,325			321,367			26,479			620,208			183,531			291,612		135,772
Total liabilities and members' equity (deficit)	$	259,358		$	341,984		$	203,667		$	654,863		$	215,921		$	306,489	$	285,987
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		52,325			321,367			26,479			620,208			183,531			291,612		135,772
Net adjustments to fair value		85,827			107,834			85,251			100,186			58,982			75,786		47,219
TOTAL NET ASSETS	$	138,152		$	429,201		$	111,730		$	720,394		$	242,513		$	367,398	$	182,992
NET ASSET VALUE PER INTEREST	$	10.55		$	10.79		$	10.94		$	9.28		$	9.85		$	10.30	$	9.43

		Cumberland			Cupcake			Cypress			Daisy			Davidson			Dawson			Delta
ASSETS
Current assets:
Cash	$	9,394		$	8,543		$	3,069		$	7,149		$	2,823		$	3,394		$	6,004
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		210			2,193			10,746			113			3,642			3,412			5,281
Deposits		3,918			3,270			5,527			4,151			3,418			3,992			6,711
Property and equipment, net		275,338			205,250			340,209			280,004			191,658			205,849			319,774
Total assets	$	288,860		$	219,256		$	359,552		$	291,417		$	201,542		$	216,647		$	337,770
LIABILITIES
Current liabilities:
Accrued expenses	$	2,279		$	1,327		$	1,971		$	4,516		$	1,658		$	1,495		$	2,312
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		6,570			5,441			10,783			6,726			6,342			4,024			15,165
Tenant deposits		2,145			1,595			2,395			1,695			1,495			1,745			2,195
Note payable, related party		-			-			-			-			14,600			23,900			95,700
Mortgage payables		-			150,204			179,253			-			145,369			144,327			224,621
Total Liabilities	$	10,994		$	158,567		$	194,401		$	12,937		$	169,463		$	175,490		$	339,993
MEMBERS' EQUITY
Members' capital		281,203			62,733			203,308			282,880			70,689			80,190			118,650
Accumulated deficit		(3,338	)		(2,044	)		(38,158	)		(4,400	)		(38,611	)		(39,033	)		(120,873	)
Total members' equity (deficit)		277,865			60,689			165,150			278,480			32,078			41,157			(2,223	)
Total liabilities and members' equity (deficit)	$	288,860		$	219,256		$	359,552		$	291,417		$	201,542		$	216,647		$	337,770
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		277,865			60,689			165,150			278,480			32,078			41,157			(2,223	)
Net adjustments to fair value		46,518			118,328			52,248			94,474			80,490			89,415			76,606
TOTAL NET ASSETS	$	324,383		$	179,017		$	217,399		$	372,954		$	112,569		$	130,572		$	74,383
NET ASSET VALUE PER INTEREST	$	9.48		$	16.64		$	8.84		$	10.75		$	12.18		$	11.91		$	5.13

		Dewberry			Diablo			Dogwood			Dolittle			Dolly			Dops		Dorchester
ASSETS
Current assets:
Cash	$	3,052		$	4,459		$	9,608		$	5,164		$	10,373		$	9,301	$	7,748
Other receivables		-			-			-			-			-			-		-
Prepaid expenses		2,051			4,119			333			3,979			249			1,130		703
Deposits		5,712			5,165			2,579			5,238			7,309			4,929		(3,208	)
Property and equipment, net		170,734			274,794			223,361			278,726			641,136			192,623		319,854
Total assets	$	181,548		$	288,536		$	235,880		$	293,106		$	659,066		$	207,982	$	325,096
LIABILITIES
Current liabilities:
Accrued expenses	$	1,440		$	3,914		$	1,883		$	2,651		$	2,899		$	1,997	$	5,851
Accounts payable		-			-			-			-			-			-		-
Due to (from) related parties		7,660			6,293			9,180			9,244			19,032			4,992		16,759
Tenant deposits		1,695			2,145			1,750			2,295			3,995			1,495		2,195
Note payable, related party		18,500			28,300			-			6,300			-			-		7,000
Mortgage payables		119,524			205,854			-			205,540			-			-		-
Total Liabilities	$	148,820		$	246,506		$	12,813		$	226,030		$	25,927		$	8,484	$	31,806
MEMBERS' EQUITY
Members' capital		68,056			97,354			226,988			97,842			670,640			198,908		339,619
Accumulated deficit		(35,328	)		(55,323	)		(3,921	)		(30,766	)		(37,501	)		590		(46,329	)
Total members' equity (deficit)		32,728			42,030			223,067			67,076			633,139			199,498		293,290
Total liabilities and members' equity (deficit)	$	181,548		$	288,536		$	235,880		$	293,106		$	659,066		$	207,982	$	325,096
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		32,728			42,030			223,067			67,076			633,139			199,498		293,290
Net adjustments to fair value		77,792			79,697			64,459			96,477			84,792			57,460		95,122
TOTAL NET ASSETS	$	110,519		$	121,727		$	287,526		$	163,552		$	717,932		$	256,958	$	388,412
NET ASSET VALUE PER INTEREST	$	12.06		$	9.44		$	10.35		$	12.23		$	9.13		$	10.68	$	9.70

		Dunbar			Eagle			Eastfair			Eastwood			Elevation			Ella			Ellen
ASSETS
Current assets:
Cash	$	-		$	11,827		$	3,332		$	11,745		$	2,334		$	5,451		$	21,046
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		-			3,844			4,852			245			2,900			193			350
Deposits		638			4,475			4,193			4,846			7,984			3,515			4,374
Property and equipment, net		315,375			257,858			193,170			306,485			248,251			246,889			237,687
Total assets	$	316,014		$	278,004		$	205,548		$	323,320		$	261,469		$	256,048		$	263,458
LIABILITIES
Current liabilities:
Accrued expenses	$	2,538		$	1,544		$	1,453		$	2,552		$	1,979		$	2,235		$	3,867
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		27,413			5,941			8,249			4,578			10,135			5,048			3,955
Tenant deposits		-			1,995			1,949			2,395			1,895			1,995			2,693
Note payable, related party		41,000			-			17,500			-			55,100			-			-
Mortgage payables		-			131,866			148,050			-			170,475			-			-
Total Liabilities	$	70,951		$	141,346		$	177,201		$	9,524		$	239,583		$	9,277		$	10,515
MEMBERS' EQUITY
Members' capital		322,376			142,310			59,630			332,328			100,795			259,009			253,794
Accumulated deficit		(77,314	)		(5,652	)		(31,284	)		(18,533	)		(78,909	)		(12,238	)		(852	)
Total members' equity (deficit)		245,062			136,658			28,347			313,796			21,886			246,771			252,943
Total liabilities and members' equity (deficit)	$	316,014		$	278,004		$	205,548		$	323,320		$	261,469		$	256,048		$	263,458
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		245,062			136,658			28,347			313,796			21,886			246,771			252,943
Net adjustments to fair value		81,209			116,547			81,903			96,503			79,186			62,819			39,112
TOTAL NET ASSETS	$	326,271		$	253,204		$	110,250		$	410,299		$	101,072		$	309,590		$	292,055
NET ASSET VALUE PER INTEREST	$	8.89		$	13.73		$	13.03		$	10.95		$	8.05		$	10.10		$	9.83

		Elm			Emporia			Ensenada			Falcon			Felix			Fenwick			Fletcher
ASSETS
Current assets:
Cash	$	3,913		$	65		$	8,054		$	8,775		$	8,989		$	12,338		$	19,091
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		3,524			4,585			6,528			3,939			334			518			0
Deposits		4,826			192			6,751			4,478			3,869			3,712			3,037
Property and equipment, net		149,176			323,000			513,440			258,524			241,704			286,346			168,427
Total assets	$	161,439		$	327,842		$	534,773		$	275,716		$	254,896		$	302,914		$	190,555
LIABILITIES
Current liabilities:
Accrued expenses	$	1,403		$	1,850		$	(1,323	)	$	2,543		$	2,583		$	3,000		$	1,816
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		3,840			19,469			15,619			5,749			3,990			4,615			2,735
Tenant deposits		1,495			-			3,195			2,345			2,393			1,850			1,395
Note payable, related party		12,400			15,700			10,700			-			-			-			-
Mortgage payables		105,890			242,700			388,751			131,857			-			-			-
Total Liabilities	$	125,028		$	279,719		$	416,942		$	142,494		$	8,965		$	9,465		$	5,947
MEMBERS' EQUITY
Members' capital		58,033			118,276			182,824			143,520			249,522			305,032			181,987
Accumulated deficit		(21,622	)		(70,153	)		(64,994	)		(10,298	)		(3,591	)		(11,583	)		2,622
Total members' equity (deficit)		36,411			48,123			117,831			133,222			245,931			293,449			184,609
Total liabilities and members' equity (deficit)	$	161,439		$	327,842		$	534,773		$	275,716		$	254,896		$	302,914		$	190,555
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		36,411			48,123			117,831			133,222			245,931			293,449			184,609
Net adjustments to fair value		94,261			36,982			93,522			121,282			44,066			56,628			36,242
TOTAL NET ASSETS	$	130,672		$	85,105		$	211,353		$	254,504		$	289,997		$	350,077		$	220,851
NET ASSET VALUE PER INTEREST	$	15.92		$	5.58		$	9.14		$	13.85		$	9.80		$	9.86		$	10.25

		Folly			Forest			Foster		Franklin			Gardens			General			Goose
ASSETS
Current assets:
Cash	$	6,225		$	7,185		$	18,670	$	13,135		$	4,588		$	11,825		$	8,735
Other receivables		-			-			-		-			-			-			-
Prepaid expenses		556			4,897			0		523			2,022			467			3,850
Deposits		4,529			16,222			4,636		4,601			4,930			5,241			3,779
Property and equipment, net		293,592			323,923			299,333		289,222			207,566			302,498			240,302
Total assets	$	304,901		$	352,227		$	322,639	$	307,481		$	219,106		$	320,031		$	256,666
LIABILITIES
Current liabilities:
Accrued expenses	$	4,576		$	1,976		$	2,146	$	7,592		$	1,404		$	4,365		$	1,438
Accounts payable		-			-			-		-			-			-			-
Due to (from) related parties		12,687			6,749			5,141		8,001			4,615			5,095			5,310
Tenant deposits		2,695			2,445			2,349		2,595			1,595			2,495			1,895
Note payable, related party		6,600			60,400			-		-			11,000			-			-
Mortgage payables		-			225,364			-		-			134,914			-			122,784
Total Liabilities	$	26,558		$	296,934		$	9,636	$	18,188		$	153,528		$	11,955		$	131,428
MEMBERS' EQUITY
Members' capital		305,634			132,919			309,470		305,408			84,208			316,945			132,189
Accumulated deficit		(27,290	)		(77,626	)		3,534		(16,115	)		(18,629	)		(8,869	)		(6,951	)
Total members' equity (deficit)		278,344			55,293			313,004		289,293			65,578			308,076			125,239
Total liabilities and members' equity (deficit)	$	304,901		$	352,227		$	322,639	$	307,481		$	219,106		$	320,031		$	256,666
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		278,344			55,293			313,004		289,293			65,578			308,076			125,239
Net adjustments to fair value		80,850			131,607			98,128		70,384			47,484			68,531			138,844
TOTAL NET ASSETS	$	359,194		$	186,900		$	411,131	$	359,677		$	113,062		$	376,607		$	264,082
NET ASSET VALUE PER INTEREST	$	9.92		$	11.52		$	11.01	$	10.13		$	9.84		$	10.06		$	15.31

		Grant			Greenhill			Gretal			Grove			Hadden			Hansard		Hansel
ASSETS
Current assets:
Cash	$	7,157		$	5,796		$	14,893		$	3,645		$	3,675		$	14,387	$	6,412
Other receivables		-			-			-			(151	)		-			-		-
Prepaid expenses		5,237			4,718			197			3,217			3,459			100		5,961
Deposits		5,479			5,946			4,055			3,577			3,719			6,811		5,275
Property and equipment, net		342,417			299,709			421,743			213,947			202,274			285,577		378,322
Total assets	$	360,290		$	316,169		$	440,888		$	224,235		$	213,128		$	306,875	$	395,971
LIABILITIES
Current liabilities:
Accrued expenses	$	1,383		$	1,624		$	2,205		$	1,430		$	1,316		$	2,441	$	1,597
Accounts payable		-			-			-			-			-			-		-
Due to (from) related parties		6,978			10,295			8,697			6,503			5,237			5,989		12,664
Tenant deposits		-			3,119			2,395			1,869			1,645			4,840		3,003
Note payable, related party		-			-			-			11,100			-			-		16,200
Mortgage payables		256,629			225,599			-			155,772			141,877			-		197,644
Total Liabilities	$	264,990		$	240,638		$	13,297		$	176,674		$	150,074		$	13,270	$	231,108
MEMBERS' EQUITY
Members' capital		120,587			96,595			441,291			81,372			80,789			290,607		224,505
Accumulated deficit		(25,287	)		(21,064	)		(13,700	)		(33,811	)		(17,735	)		2,998		(59,642	)
Total members' equity (deficit)		95,300			75,531			427,591			47,561			63,054			293,605		164,863
Total liabilities and members' equity (deficit)	$	360,290		$	316,169		$	440,888		$	224,235		$	213,128		$	306,875	$	395,971
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		95,300			75,531			427,591			47,561			63,054			293,605		164,863
Net adjustments to fair value		117,044			75,740			89,185			51,360			48,663			96,733		58,724
TOTAL NET ASSETS	$	212,345		$	151,271		$	516,776		$	98,921		$	111,717		$	390,338	$	223,587
NET ASSET VALUE PER INTEREST	$	13.12		$	11.08		$	9.88		$	9.70		$	10.24		$	11.08	$	8.37

		Hargrave			Harrison			Henry			Heritage			Heron			Highland			Hines
ASSETS
Current assets:
Cash	$	10,490		$	14,179		$	10,127		$	7,927		$	5,877		$	116		$	5,591
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		199			5,273			63			5,000			3,844			-			-
Deposits		(599	)		5,754			1,398			4,569			5,110			1,659			3,436
Property and equipment, net		224,279			426,639			400,017			271,461			267,737			266,743			242,444
Total assets	$	234,370		$	451,845		$	411,604		$	288,957		$	282,568		$	268,518		$	251,472
LIABILITIES
Current liabilities:
Accrued expenses	$	3,651		$	2,959		$	5,885		$	1,472		$	2,474		$	3,222		$	2,161
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		3,309			9,775			8,081			5,686			7,716			7,901			15,670
Tenant deposits		3,190			3,045			2,395			1,995			2,369			-			1,845
Note payable, related party		-			-			49,500			19,300			7,100			-			-
Mortgage payables		-			225,126			-			200,961			198,874			-			-
Total Liabilities	$	10,150		$	240,905		$	65,860		$	229,415		$	218,533		$	11,123		$	19,676
MEMBERS' EQUITY
Members' capital		247,494			242,967			412,269			98,945			99,250			272,280			249,123
Accumulated deficit		(23,274	)		(32,027	)		(66,525	)		(39,403	)		(35,215	)		(14,885	)		(17,327	)
Total members' equity (deficit)		224,220			210,939			345,744			59,542			64,035			257,396			231,795
Total liabilities and members' equity (deficit)	$	234,370		$	451,845		$	411,604		$	288,957		$	282,568		$	268,518		$	251,472
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		224,220			210,939			345,744			59,542			64,035			257,396			231,795
Net adjustments to fair value		37,907			104,564			45,852			58,642			81,789			54,798			62,913
TOTAL NET ASSETS	$	262,126		$	315,504		$	391,596		$	118,184		$	145,825		$	312,194		$	294,709
NET ASSET VALUE PER INTEREST	$	9.36		$	10.51		$	8.33		$	9.46		$	11.48		$	9.70		$	10.01

		Hobbes			Holcomb			Holland			Hollandaise			Holloway			Inglewood			Irene
ASSETS
Current assets:
Cash	$	9,976		$	15,760		$	3,157		$	5,171		$	5,618		$	8,661		$	17,304
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		199			0			3,560			4,888			3,551			1,033			211
Deposits		4,142			620			4,528			11,238			4,621			6,406			2,752
Property and equipment, net		224,573			329,201			191,173			336,891			305,354			633,098			168,427
Total assets	$	238,891		$	345,581		$	202,417		$	358,187		$	319,144		$	649,197		$	188,694
LIABILITIES
Current liabilities:
Accrued expenses	$	3,408		$	4,582		$	1,316		$	1,446		$	1,467		$	3,119		$	2,280
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		3,172			13,393			7,836			10,187			5,428			12,934			2,654
Tenant deposits		2,393			2,095			2,168			1,895			3,119			3,445			1,395
Note payable, related party		-			-			-			13,200			9,900			-			-
Mortgage payables		-			-			145,374			253,123			218,435			-			-
Total Liabilities	$	8,972		$	20,070		$	156,694		$	279,851		$	238,348		$	19,498		$	6,330
MEMBERS' EQUITY
Members' capital		245,317			340,876			80,491			133,716			115,171			666,453			180,641
Accumulated deficit		(15,398	)		(15,365	)		(34,768	)		(55,379	)		(34,375	)		(36,754	)		1,724
Total members' equity (deficit)		229,919			325,511			45,724			78,337			80,796			629,699			182,365
Total liabilities and members' equity (deficit)	$	238,891		$	345,581		$	202,417		$	358,187		$	319,144		$	649,197		$	188,694
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		229,919			325,511			45,724			78,337			80,796			629,699			182,365
Net adjustments to fair value		45,046			38,395			77,316			88,352			112,446			153,604			36,070
TOTAL NET ASSETS	$	274,965		$	363,906		$	123,040		$	166,689		$	193,242		$	783,302		$	218,435
NET ASSET VALUE PER INTEREST	$	9.81		$	8.90		$	12.17		$	10.16		$	13.10		$	10.07		$	10.14

		Jack			Jake			Jefferson		Jill			Johnny			June			Jupiter
ASSETS
Current assets:
Cash	$	5,244		$	11,135		$	16,236	$	7,805		$	15,305		$	5,908		$	7,875
Other receivables		-			-			-		-			-			-			-
Prepaid expenses		5,500			380			873		7,287			177			178			2,629
Deposits		5,222			9,361			4,624		4,435			6,094			5,489			3,466
Property and equipment, net		386,242			546,276			258,568		373,669			544,488			544,488			190,995
Total assets	$	402,208		$	567,153		$	280,301	$	393,195		$	566,064		$	556,063		$	204,965
LIABILITIES
Current liabilities:
Accrued expenses	$	1,430		$	4,882		$	2,068	$	1,363		$	2,873		$	7,250		$	1,360
Accounts payable		-			-			-		-			-			-			-
Due to (from) related parties		14,321			29,482			5,441		7,830			25,376			23,285			4,791
Tenant deposits		3,143			2,995			2,595		2,195			2,995			2,945			1,550
Note payable, related party		9,600			14,800			-		-			19,200			9,300			6,900
Mortgage payables		287,015			-			-		196,968			-			-			138,171
Total Liabilities	$	315,508		$	52,159		$	10,104	$	208,356		$	50,444		$	42,780		$	152,772
MEMBERS' EQUITY
Members' capital		143,375			573,569			261,060		217,660			564,310			573,321			79,686
Accumulated deficit		(56,675	)		(58,575	)		9,138		(32,821	)		(48,690	)		(60,038	)		(27,493	)
Total members' equity (deficit)		86,700			514,994			270,198		184,840			515,620			513,283			52,193
Total liabilities and members' equity (deficit)	$	402,208		$	567,153		$	280,301	$	393,195		$	566,064		$	556,063		$	204,965
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		86,700			514,994			270,198		184,840			515,620			513,283			52,193
Net adjustments to fair value		109,054			55,975			77,163		63,639			83,883			82,673			75,975
TOTAL NET ASSETS	$	195,755		$	570,970		$	347,361	$	248,478		$	599,503		$	595,955		$	128,168
NET ASSET VALUE PER INTEREST	$	10.67		$	8.57		$	10.88	$	9.27		$	9.06		$	8.98		$	12.20

		Kawana			Kennesaw			Kenny			KerriAnn			Kessler			Kingsley			Kirkwood
ASSETS
Current assets:
Cash	$	9,930		$	11,048		$	10,240		$	1,204		$	3,547		$	5,729		$	218
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		3,842			288			249			3,340			2,900			82			4,518
Deposits		4,732			6,250			6,913			6,382			2,355			6,210			2,137
Property and equipment, net		253,644			394,934			641,136			309,132			242,831			283,218			247,992
Total assets	$	272,149		$	412,521		$	658,537		$	320,058		$	251,633		$	295,239		$	254,866
LIABILITIES
Current liabilities:
Accrued expenses	$	1,381		$	3,425		$	3,039		$	1,723		$	1,433		$	1,733		$	2,336
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		5,782			15,431			17,655			9,952			11,384			5,632			7,964
Tenant deposits		2,543			2,595			3,345			1,995			1,595			2,869			2,393
Note payable, related party		-			-			-			23,600			6,300			15,600			9,700
Mortgage payables		190,544			-			-			235,678			125,484			212,487			180,103
Total Liabilities	$	200,249		$	21,450		$	24,039		$	272,948		$	146,196		$	238,320		$	202,496
MEMBERS' EQUITY
Members' capital		88,313			409,432			676,505			116,602			147,617			96,270			86,877
Accumulated deficit		(16,414	)		(18,361	)		(42,007	)		(69,492	)		(42,179	)		(39,352	)		(34,506	)
Total members' equity (deficit)		71,900			391,071			634,498			47,110			105,437			56,919			52,370
Total liabilities and members' equity (deficit)	$	272,149		$	412,521		$	658,537		$	320,058		$	251,633		$	295,239		$	254,866
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		71,900			391,071			634,498			47,110			105,437			56,919			52,370
Net adjustments to fair value		57,674			89,603			92,229			83,208			63,443			97,655			49,354
TOTAL NET ASSETS	$	129,573		$	480,674		$	726,727		$	130,318		$	168,880		$	154,574		$	101,724
NET ASSET VALUE PER INTEREST	$	10.21		$	9.92		$	9.27		$	9.08		$	9.90		$	12.25		$	8.96

		Korin		Lallie			Lanier			Lannister			Latte			Lennox			Lierly
ASSETS
Current assets:
Cash	$	17,547	$	510		$	3,032		$	2,072		$	8,174		$	3,861		$	14,693
Other receivables		-		-			-			-			-			-			-
Prepaid expenses		0		3,782			5,744			4,752			289			1,941			35
Deposits		3,823		580			4,825			2,954			5,612			4,017			3,310
Property and equipment, net		261,495		340,400			353,127			164,963			339,068			194,703			189,428
Total assets	$	282,865	$	345,272		$	366,727		$	174,740		$	353,143		$	204,522		$	207,465
LIABILITIES
Current liabilities:
Accrued expenses	$	6,174	$	2,105		$	1,439		$	1,438		$	3,594		$	1,386		$	6,737
Accounts payable		-		-			-			-			-			-			-
Due to (from) related parties		5,298		17,438			6,419			4,834			22,438			2,662			5,353
Tenant deposits		1,995		-			2,195			1,395			2,195			1,795			1,750
Note payable, related party		-		57,200			11,800			18,700			-			9,700			-
Mortgage payables		-		237,765			261,451			112,746			-			137,883			129,962
Total Liabilities	$	13,468	$	314,509		$	283,304		$	139,113		$	28,227		$	153,426		$	143,803
MEMBERS' EQUITY
Members' capital		262,085		121,831			128,440			75,703			347,300			72,507			60,506
Accumulated deficit		7,313		(91,068	)		(45,017	)		(40,076	)		(22,384	)		(21,411	)		3,156
Total members' equity (deficit)		269,398		30,763			83,423			35,627			324,916			51,096			63,663
Total liabilities and members' equity (deficit)	$	282,865	$	345,272		$	366,727		$	174,740		$	353,143		$	204,522		$	207,465
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		269,398		30,763			83,423			35,627			324,916			51,096			63,663
Net adjustments to fair value		93,790		81,733			89,309			42,514			97,813			85,934			188,116
TOTAL NET ASSETS	$	363,188	$	112,496		$	172,731		$	78,142		$	422,729		$	137,029		$	251,778
NET ASSET VALUE PER INTEREST	$	11.20	$	7.10		$	10.47		$	8.26		$	10.28		$	12.94		$	26.63

		Lily			Limestone			Litton			Longwoods			Lookout			Loretta			Louis
ASSETS
Current assets:
Cash	$	4,959		$	5,237		$	12,807		$	11,030		$	11,238		$	7,345		$	18,321
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		8,579			3,100			223			0			104			630			562
Deposits		3,370			4,385			4,619			3,822			3,081			9,336			5,819
Property and equipment, net		483,314			264,256			301,386			257,278			320,048			638,060			257,198
Total assets	$	500,221		$	276,978		$	319,034		$	272,130		$	334,472		$	655,370		$	281,900
LIABILITIES
Current liabilities:
Accrued expenses	$	168		$	1,710		$	2,542		$	3,768		$	1,894		$	3,066		$	2,882
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		10,363			5,860			6,630			4,501			12,511			17,327			4,259
Tenant deposits		2,395			2,095			2,545			1,995			2,245			6,390			1,895
Note payable, related party		64,000			21,400			-			-			-			-			-
Mortgage payables		308,791			201,005			158,000			-			-			-			-
Total Liabilities	$	385,718		$	232,070		$	169,717		$	10,265		$	16,650		$	26,783		$	9,036
MEMBERS' EQUITY
Members' capital		206,882			105,509			167,944			272,353			321,307			653,696			271,638
Accumulated deficit		(92,378	)		(60,601	)		(18,627	)		(10,488	)		(3,485	)		(25,109	)		1,225
Total members' equity (deficit)		114,504			44,908			149,317			261,865			317,822			628,587			272,863
Total liabilities and members' equity (deficit)	$	500,221		$	276,978		$	319,034		$	272,130		$	334,472		$	655,370		$	281,900
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		114,504			44,908			149,317			261,865			317,822			628,587			272,863
Net adjustments to fair value		93,926			92,213			95,691			53,277			76,287			97,410			47,395
TOTAL NET ASSETS	$	208,430		$	137,121		$	245,008		$	315,142		$	394,109		$	725,997		$	320,258
NET ASSET VALUE PER INTEREST	$	8.67		$	10.00		$	11.45		$	9.81		$	10.22		$	9.54		$	9.88

		Louise			Lovejoy			Luna			Lurleen			Madison			Mae			Magnolia
ASSETS
Current assets:
Cash	$	6,041		$	4,856		$	4,003		$	31		$	6,352		$	7,227		$	6,065
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		4,172			4,013			1,848			216			2,589			397			3,113
Deposits		4,386			2,648			4,098			(355	)		4,910			7,067			5,104
Property and equipment, net		254,491			270,970			193,170			211,934			190,866			329,126			235,164
Total assets	$	269,089		$	282,487		$	203,119		$	211,827		$	204,718		$	343,817		$	249,446
LIABILITIES
Current liabilities:
Accrued expenses	$	1,351		$	1,610		$	1,900		$	3,213		$	1,428		$	4,600		$	1,485
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		7,606			5,888			3,639			3,970			5,314			6,709			5,123
Tenant deposits		1,895			1,995			1,895			-			2,174			4,190			3,290
Note payable, related party		-			12,300			17,800			7,100			15,900			-			23,800
Mortgage payables		180,108			203,066			148,050			108,579			99,980			-			171,187
Total Liabilities	$	190,960		$	224,859		$	173,284		$	122,863		$	124,795		$	15,500		$	204,885
MEMBERS' EQUITY
Members' capital		94,669			93,554			61,633			121,895			113,984			335,785			88,528
Accumulated deficit		(16,540	)		(35,925	)		(31,798	)		(32,930	)		(34,061	)		(7,467	)		(43,967	)
Total members' equity (deficit)		78,129			57,628			29,835			88,964			79,922			328,318			44,562
Total liabilities and members' equity (deficit)	$	269,089		$	282,487		$	203,119		$	211,827		$	204,718		$	343,817		$	249,446
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		78,129			57,628			29,835			88,964			79,922			328,318			44,562
Net adjustments to fair value		57,397			37,363			91,907			55,706			30,236			89,338			44,410
TOTAL NET ASSETS	$	135,526		$	94,992		$	121,742		$	144,671		$	110,158		$	417,656		$	88,972
NET ASSET VALUE PER INTEREST	$	10.24		$	7.44		$	13.56		$	9.41		$	8.09		$	10.37		$	8.00

		Malbec			Mammoth			Marcelo			Marie		Marietta			Marion			Marple
ASSETS
Current assets:
Cash	$	6,171		$	4,293		$	9,593		$	19,243	$	2,954		$	7,311		$	4,376
Other receivables		-			-			-			-		-			-			-
Prepaid expenses		2,814			5,569			-			105		4,238			1,169			0
Deposits		4,520			4,985			3,613			5,279		4,479			3,866			3,193
Property and equipment, net		286,001			314,714			265,310			300,952		281,924			250,927			167,624
Total assets	$	299,507		$	329,561		$	278,516		$	325,580	$	293,595		$	263,272		$	175,192
LIABILITIES
Current liabilities:
Accrued expenses	$	1,355		$	1,648		$	2,580		$	1,811	$	1,479		$	3,121		$	1,874
Accounts payable		-			-			-			-		-			-			-
Due to (from) related parties		10,054			9,069			5,784			6,252		5,959			4,075			3,089
Tenant deposits		2,295			2,095			1,945			2,745		2,195			2,295			1,943
Note payable, related party		-			44,300			-			-		18,900			5,800			-
Mortgage payables		205,090			235,733			-			-		148,657			-			-
Total Liabilities	$	218,794		$	292,844		$	10,309		$	10,808	$	177,190		$	15,292		$	6,906
MEMBERS' EQUITY
Members' capital		95,598			118,575			275,163			298,399		170,613			264,534			184,860
Accumulated deficit		(14,886	)		(81,858	)		(6,956	)		16,373		(54,208	)		(16,553	)		(16,573	)
Total members' equity (deficit)		80,712			36,717			268,207			314,771		116,405			247,980			168,286
Total liabilities and members' equity (deficit)	$	299,507		$	329,561		$	278,516		$	325,580	$	293,595		$	263,272		$	175,192
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		80,712			36,717			268,207			314,771		116,405			247,980			168,286
Net adjustments to fair value		164,599			99,442			71,652			130,679		69,409			68,400			36,471
TOTAL NET ASSETS	$	245,311		$	136,159		$	339,859		$	445,451	$	185,814		$	316,380		$	204,758
NET ASSET VALUE PER INTEREST	$	17.81		$	9.30		$	10.06		$	12.03	$	9.22		$	10.40		$	9.62

		Martell			Mary		Matchingham			McGregor			McLovin			Meadow			Mimosa
ASSETS
Current assets:
Cash	$	7,074		$	15,376	$	6,313		$	4,595		$	3,467		$	4,576		$	5,431
Other receivables		-			-		-			-			-			-			-
Prepaid expenses		-			481		2,279			0			6,835			3,696			81
Deposits		3,748			3,944		245			4,151			6,063			2,945			4,719
Property and equipment, net		248,269			259,396		191,590			278,213			494,449			290,209			198,457
Total assets	$	259,091		$	279,197	$	200,426		$	286,959		$	510,814		$	301,425		$	208,688
LIABILITIES
Current liabilities:
Accrued expenses	$	2,907		$	1,863	$	1,822		$	3,765		$	(1,771	)	$	1,481		$	2,405
Accounts payable		-			-		-			-			-			-			-
Due to (from) related parties		4,403			4,688		5,278			12,613			14,385			9,066			7,467
Tenant deposits		1,945			2,095		1,795			1,895			3,495			-			1,495
Note payable, related party		6,200			-		-			-			14,300			-			-
Mortgage payables		-			-		144,737			-			364,393			212,827			106,246
Total Liabilities	$	15,454		$	8,646	$	153,631		$	18,273		$	394,802		$	223,374		$	117,613
MEMBERS' EQUITY
Members' capital		267,627			265,516		59,643			280,534			162,039			124,166			115,098
Accumulated deficit		(23,991	)		5,035		(12,849	)		(11,847	)		(46,027	)		(46,115	)		(24,023	)
Total members' equity (deficit)		243,637			270,551		46,794			268,686			116,012			78,051			91,076
Total liabilities and members' equity (deficit)	$	259,091		$	279,197	$	200,426		$	286,959		$	510,814		$	301,425		$	208,688
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		243,637			270,551		46,794			268,686			116,012			78,051			91,076
Net adjustments to fair value		61,728			76,870		64,856			76,658			94,572			98,201			67,775
TOTAL NET ASSETS	$	305,364		$	347,421	$	111,650		$	345,345		$	210,584		$	176,252		$	158,851
NET ASSET VALUE PER INTEREST	$	9.86		$	10.94	$	11.85		$	10.02		$	9.59		$	11.48		$	10.60

		Mojave			Murphy			Mycroft		Nugget			Odessa			Olive			Oly
ASSETS
Current assets:
Cash	$	4,418		$	4,210		$	14,133	$	5,874		$	7,759		$	3,659		$	9,628
Other receivables		-			-			-		-			-			-			-
Prepaid expenses		2,141			3,849			0		-			6,984			3,279			6,482
Deposits		3,398			4,365			1,956		6,170			6,276			7,022			5,941
Property and equipment, net		218,527			269,714			171,421		519,309			483,243			210,412			484,793
Total assets	$	228,484		$	282,139		$	187,510	$	531,353		$	504,263		$	224,372		$	506,844
LIABILITIES
Current liabilities:
Accrued expenses	$	1,330		$	2,754		$	2,006	$	6,441		$	(1,394	)	$	1,551		$	(937	)
Accounts payable		-			-			-		-			-			-			-
Due to (from) related parties		11,241			9,008			3,332		21,960			14,163			5,821			9,320
Tenant deposits		2,195			1,995			1,645		3,295			3,395			1,895			2,995
Note payable, related party		-			-			-		-			35,100			19,000			6,000
Mortgage payables		160,298			205,232			-		-			371,376			124,352			365,095
Total Liabilities	$	175,063		$	218,989		$	6,983	$	31,696		$	422,640		$	152,619		$	382,473
MEMBERS' EQUITY
Members' capital		63,344			93,146			178,244		521,347			176,914			106,462			163,750
Accumulated deficit		(9,923	)		(29,996	)		2,282		(21,690	)		(95,291	)		(34,709	)		(39,379	)
Total members' equity (deficit)		53,421			63,150			180,527		499,657			81,623			71,753			124,371
Total liabilities and members' equity (deficit)	$	228,484		$	282,139		$	187,510	$	531,353		$	504,263		$	224,372		$	506,844
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		53,421			63,150			180,527		499,657			81,623			71,753			124,371
Net adjustments to fair value		111,695			102,502			32,734		32,519			125,857			75,722			68,558
TOTAL NET ASSETS	$	165,115		$	165,652		$	213,260	$	532,175		$	207,480		$	147,475		$	192,929
NET ASSET VALUE PER INTEREST	$	15.91		$	12.70		$	9.83	$	8.53		$	9.49		$	10.80		$	8.83

		Onyx			Oscar			Osceola			Osprey			Otoro			Palmer			Patrick
ASSETS
Current assets:
Cash	$	8,701		$	9,032		$	7,179		$	7,591		$	1,876		$	8,160		$	7,624
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		0			752			2,196			362			4,383			509			55
Deposits		2,595			(40	)		490			2,688			11,273			3,746			3,120
Property and equipment, net		320,374			243,064			267,599			327,677			367,074			283,449			189,627
Total assets	$	331,670		$	252,808		$	277,463		$	338,318		$	384,606		$	295,864		$	200,427
LIABILITIES
Current liabilities:
Accrued expenses	$	3,084		$	2,585		$	5,531		$	5,286		$	1,893		$	3,105		$	5,684
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		4,830			6,221			4,206			13,665			20,030			7,212			8,136
Tenant deposits		2,295			-			-			2,295			2,319			1,895			1,595
Note payable, related party		-			-			7,000			-			78,700			-			-
Mortgage payables		-			-			-			-			271,888			-			107,905
Total Liabilities	$	10,209		$	8,806		$	16,737		$	21,246		$	374,831		$	12,213		$	123,319
MEMBERS' EQUITY
Members' capital		327,570			259,826			296,449			340,832			131,256			297,915			86,757
Accumulated deficit		(6,109	)		(15,824	)		(35,723	)		(23,761	)		(121,481	)		(14,264	)		(9,650	)
Total members' equity (deficit)		321,462			244,002			260,726			317,072			9,775			283,651			77,107
Total liabilities and members' equity (deficit)	$	331,670		$	252,808		$	277,463		$	338,318		$	384,606		$	295,864		$	200,427
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		321,462			244,002			260,726			317,072			9,775			283,651			77,107
Net adjustments to fair value		46,824			51,606			59,185			87,639			72,163			48,764			120,710
TOTAL NET ASSETS	$	368,286		$	295,608		$	319,912		$	404,710		$	81,938		$	332,415		$	197,817
NET ASSET VALUE PER INTEREST	$	9.58		$	9.90		$	9.55		$	10.05		$	4.83		$	9.57		$	17.49

		Peanut			Pearl			Pecan		Peterson			Piedmont			Pinot			Pioneer
ASSETS
Current assets:
Cash	$	5,437		$	3,598		$	13,875	$	18,646		$	6,949		$	6,320		$	12,172
Other receivables		-			-			-		-			-			-			-
Prepaid expenses		2,509			233			31		239			5,708			3,456			47
Deposits		5,250			(2,277	)		3,455		1,634			4,508			4,720			6,851
Property and equipment, net		199,104			506,142			184,399		217,284			357,101			288,763			544,493
Total assets	$	212,301		$	507,695		$	201,760	$	237,803		$	374,266		$	303,259		$	563,564
LIABILITIES
Current liabilities:
Accrued expenses	$	1,329		$	2,613		$	5,974	$	2,593		$	1,551		$	1,356		$	5,793
Accounts payable		-			-			-		-			-			-			-
Due to (from) related parties		5,252			20,157			5,822		3,205			7,803			9,273			28,892
Tenant deposits		2,093			-			1,750		-			2,295			2,395			3,445
Note payable, related party		-			-			-		-			-			-			-
Mortgage payables		145,343			-			112,457		-			188,309			207,219			-
Total Liabilities	$	154,017		$	22,770		$	126,004	$	5,798		$	199,959		$	220,242		$	38,130
MEMBERS' EQUITY
Members' capital		71,266			526,530			71,185		234,491			219,452			96,637			559,889
Accumulated deficit		(12,981	)		(41,605	)		4,570		(2,485	)		(45,145	)		(13,620	)		(34,455	)
Total members' equity (deficit)		58,284			484,925			75,755		232,005			174,308			83,017			525,434
Total liabilities and members' equity (deficit)	$	212,301		$	507,695		$	201,760	$	237,803		$	374,266		$	303,259		$	563,564
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		58,284			484,925			75,755		232,005			174,308			83,017			525,434
Net adjustments to fair value		49,018			56,706			131,062		47,594			26,743			171,343			56,046
TOTAL NET ASSETS	$	107,302		$	541,631		$	206,818	$	279,600		$	201,051		$	254,360		$	581,479
NET ASSET VALUE PER INTEREST	$	10.97		$	8.85		$	19.35	$	10.31		$	7.80		$	18.32		$	8.93

		Plumtree			Point			Porthos			Quincy			Redondo			Regency			Reginald
ASSETS
Current assets:
Cash	$	8,505		$	5,725		$	13,290		$	6,916		$	4,926		$	1,887		$	7,905
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		32			6,516			-			0			208			711			275
Deposits		4,590			5,543			4,450			6,567			6,964			4,106			7,342
Property and equipment, net		178,098			353,497			288,945			508,488			294,151			268,837			426,104
Total assets	$	191,225		$	371,281		$	306,685		$	521,971		$	306,249		$	275,541		$	441,627
LIABILITIES
Current liabilities:
Accrued expenses	$	5,875		$	1,448		$	4,139		$	3,926		$	4,235		$	3,740		$	4,662
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		5,844			11,839			5,037			15,739			10,428			4,814			13,301
Tenant deposits		1,550			2,095			2,295			3,495			3,143			2,295			5,190
Note payable, related party		-			11,100			-			20,800			6,200			5,000			47,000
Mortgage payables		110,159			265,275			-			-			155,597			135,724			-
Total Liabilities	$	123,428		$	291,757		$	11,471		$	43,960		$	179,602		$	151,572		$	70,153
MEMBERS' EQUITY
Members' capital		69,387			129,322			299,947			526,290			174,784			143,787			435,494
Accumulated deficit		(1,591	)		(49,798	)		(4,733	)		(48,279	)		(48,137	)		(19,818	)		(64,021	)
Total members' equity (deficit)		67,797			79,524			295,214			478,011			126,647			123,969			371,474
Total liabilities and members' equity (deficit)	$	191,225		$	371,281		$	306,685		$	521,971		$	306,249		$	275,541		$	441,627
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		67,797			79,524			295,214			478,011			126,647			123,969			371,474
Net adjustments to fair value		119,875			75,170			61,147			74,889			100,088			110,958			38,861
TOTAL NET ASSETS	$	187,671		$	154,694		$	356,361		$	552,900		$	226,735		$	234,927		$	410,335
NET ASSET VALUE PER INTEREST	$	17.25		$	9.32		$	9.97		$	9.05		$	10.73		$	12.63		$	8.22

		Reynolds			Ribbonwalk			Richardson			Richmond			Ridge			Ritter			River
ASSETS
Current assets:
Cash	$	19,843		$	4,217		$	16,284		$	18,632		$	4,883		$	8,784		$	7,311
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		491			3,983			215			347			2,799			103			2,562
Deposits		5,503			2,320			1,733			5,659			4,928			4,965			4,988
Property and equipment, net		399,571			290,240			292,643			366,220			195,601			467,924			239,566
Total assets	$	425,409		$	300,761		$	310,875		$	390,858		$	208,211		$	481,776		$	254,427
LIABILITIES
Current liabilities:
Accrued expenses	$	4,025		$	1,578		$	5,250		$	4,790		$	1,454		$	3,910		$	1,578
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		15,628			7,360			6,150			4,816			7,904			19,568			8,053
Tenant deposits		2,495			1,995			1,995			3,443			2,543			2,495			2,993
Note payable, related party		-			12,000			-			-			-			17,200			-
Mortgage payables		-			221,860			-			-			138,527			-			170,475
Total Liabilities	$	22,149		$	244,793		$	13,395		$	13,049		$	150,427		$	43,173		$	183,098
MEMBERS' EQUITY
Members' capital		407,208			110,950			303,106			392,814			72,778			496,313			86,203
Accumulated deficit		(3,948	)		(54,982	)		(5,627	)		(15,005	)		(14,993	)		(57,710	)		(14,874	)
Total members' equity (deficit)		403,260			55,968			297,480			377,809			57,784			438,603			71,329
Total liabilities and members' equity (deficit)	$	425,409		$	300,761		$	310,875		$	390,858		$	208,211		$	481,776		$	254,427
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		403,260			55,968			297,480			377,809			57,784			438,603			71,329
Net adjustments to fair value		32,340			113,777			101,894			56,799			71,541			109,571			104,992
TOTAL NET ASSETS	$	435,600		$	169,745		$	399,374		$	434,608		$	129,326		$	548,174		$	176,321
NET ASSET VALUE PER INTEREST	$	8.87		$	12.23		$	10.88		$	9.70		$	12.44		$	9.46		$	13.89

		Riverwalk			Rooney			Roseberry			Rosewood			Roxy			Saddlebred			Saint
ASSETS
Current assets:
Cash	$	15,384		$	6,678		$	3,449		$	7,539		$	6,443		$	3,912		$	12,243
Other receivables		-			-			-			-			-			1,377			-
Prepaid expenses		0			5,456			5,040			2,892			4,484			4,580			4,198
Deposits		5,054			4,528			7,952			5,454			4,431			7,010			4,795
Property and equipment, net		367,250			340,276			295,608			250,408			301,594			438,186			296,141
Total assets	$	387,688		$	356,938		$	312,048		$	266,294		$	316,952		$	455,065		$	317,377
LIABILITIES
Current liabilities:
Accrued expenses	$	2,044		$	1,401		$	1,830		$	1,370		$	1,449		$	(560	)	$	1,347
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		15,518			6,948			8,788			5,429			6,257			8,895			6,499
Tenant deposits		2,845			2,095			3,443			2,768			1,995			3,045			2,495
Note payable, related party		-			9,400			5,700			5,100			15,200			23,400			-
Mortgage payables		-			256,629			209,214			187,055			218,343			329,653			209,912
Total Liabilities	$	20,407		$	276,473		$	228,974		$	201,722		$	243,244		$	364,432		$	220,253
MEMBERS' EQUITY
Members' capital		377,832			121,438			103,682			91,928			111,101			166,082			100,515
Accumulated deficit		(10,551	)		(40,973	)		(20,607	)		(27,356	)		(37,393	)		(75,450	)		(3,391	)
Total members' equity (deficit)		367,281			80,464			83,075			64,572			73,708			90,633			97,124
Total liabilities and members' equity (deficit)	$	387,688		$	356,938		$	312,048		$	266,294		$	316,952		$	455,065		$	317,377
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		367,281			80,464			83,075			64,572			73,708			90,633			97,124
Net adjustments to fair value		103,235			82,198			101,646			59,782			62,710			91,480			55,597
TOTAL NET ASSETS	$	470,516		$	162,662		$	184,720		$	124,354		$	136,418		$	182,113		$	152,721
NET ASSET VALUE PER INTEREST	$	10.54		$	10.42		$	12.63		$	10.30		$	9.52		$	9.21		$	10.33

		Sajni			Salem			Salinas			Saturn			Scepter			Sequoyah			Shallowford
ASSETS
Current assets:
Cash	$	19,079		$	1,326		$	6,903		$	2,908		$	3,620		$	6,009		$	6,850
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		10			3,987			-			2,637			3,902			257			4,917
Deposits		5,720			3,858			3,662			3,631			3,298			4,050			4,220
Property and equipment, net		304,682			285,969			222,095			196,771			248,366			236,719			335,915
Total assets	$	329,491		$	295,139		$	232,660		$	205,946		$	259,187		$	247,035		$	351,902
LIABILITIES
Current liabilities:
Accrued expenses	$	3,373		$	1,457		$	2,665		$	1,391		$	1,333		$	6,181		$	1,800
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		28,948			14,968			4,413			6,910			10,902			5,130			10,455
Tenant deposits		2,745			2,195			1,945			1,495			2,195			2,295			2,345
Note payable, related party		11,000			5,700			20,300			11,900			-			17,200			8,600
Mortgage payables		-			208,987			-			138,176			187,091			122,450			177,018
Total Liabilities	$	46,067		$	233,307		$	29,323		$	159,872		$	201,521		$	153,257		$	200,219
MEMBERS' EQUITY
Members' capital		294,060			95,869			229,123			84,280			91,121			137,945			202,990
Accumulated deficit		(10,636	)		(34,037	)		(25,786	)		(38,206	)		(33,455	)		(44,167	)		(51,307	)
Total members' equity (deficit)		283,424			61,832			203,337			46,074			57,666			93,778			151,683
Total liabilities and members' equity (deficit)	$	329,491		$	295,139		$	232,660		$	205,946		$	259,187		$	247,035		$	351,902
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		283,424			61,832			203,337			46,074			57,666			93,778			151,683
Net adjustments to fair value		92,903			173,439			91,911			72,316			66,980			69,203			75,498
TOTAL NET ASSETS	$	376,327		$	235,270		$	295,248		$	118,390		$	124,646		$	162,982		$	227,181
NET ASSET VALUE PER INTEREST	$	10.75		$	17.70		$	10.86		$	11.45		$	10.73		$	9.69		$	9.34

		Shoreline			Sigma			Simon		Sims			Soapstone			Sodalis			Spencer
ASSETS
Current assets:
Cash	$	6,995		$	8,726		$	19,249	$	14,048		$	10,512		$	886		$	7,551
Other receivables		-			-			-		-			-			-			-
Prepaid expenses		2,684			4,540			470		478			-			52			2,157
Deposits		5,623			3,993			1,879		4,468			4,180			2,526			2,017
Property and equipment, net		279,140			350,348			277,017		260,557			203,334			269,290			270,124
Total assets	$	294,442		$	367,607		$	298,616	$	279,551		$	218,026		$	272,755		$	281,850
LIABILITIES
Current liabilities:
Accrued expenses	$	1,776		$	1,744		$	2,370	$	3,008		$	6,151		$	6,786		$	2,521
Accounts payable		-			-			-		-			-			-			-
Due to (from) related parties		4,575			8,375			5,552		4,566			5,609			1,120			5,334
Tenant deposits		2,295			2,869			2,095		2,768			2,350			-			2,349
Note payable, related party		16,600			-			-		-			6,900			8,500			9,400
Mortgage payables		210,031			267,044			-		-			127,116			-			192,660
Total Liabilities	$	235,277		$	280,033		$	10,018	$	10,341		$	148,127		$	16,406		$	212,265
MEMBERS' EQUITY
Members' capital		95,477			118,727			286,953		274,801			71,014			284,017			94,855
Accumulated deficit		(36,312	)		(31,154	)		1,646		(5,591	)		(1,114	)		(27,667	)		(25,270	)
Total members' equity (deficit)		59,165			87,574			288,598		269,210			69,899			256,349			69,585
Total liabilities and members' equity (deficit)	$	294,442		$	367,607		$	298,616	$	279,551		$	218,026		$	272,755		$	281,850
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		59,165			87,574			288,598		269,210			69,899			256,349			69,585
Net adjustments to fair value		69,882			93,574			60,630		51,062			173,464			43,819			103,409
TOTAL NET ASSETS	$	129,047		$	181,148		$	349,228	$	320,272		$	243,363		$	300,168		$	172,994
NET ASSET VALUE PER INTEREST	$	10.56		$	11.20		$	10.24	$	9.87		$	24.33		$	9.00		$	12.53

		Splash			Spring			Stonebriar			Sugar			Summerset			Sundance			Sunnyside
ASSETS
Current assets:
Cash	$	8,956		$	4,356		$	6,802		$	3,543		$	6,092		$	6,943		$	15,810
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		150			139			3,338			4,760			2,093			178			219
Deposits		2,936			4,026			3,328			5,919			6,785			11,527			3,259
Property and equipment, net		193,203			230,161			187,662			279,926			239,679			299,652			208,699
Total assets	$	205,245		$	238,682		$	201,131		$	294,148		$	254,649		$	318,301		$	227,987
LIABILITIES
Current liabilities:
Accrued expenses	$	5,268		$	3,755		$	1,621		$	1,570		$	1,665		$	12,206		$	2,081
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		5,520			6,998			4,320			5,993			4,620			11,385			4,392
Tenant deposits		1,550			1,695			1,395			3,590			2,843			2,595			1,845
Note payable, related party		8,200			-			16,000			6,000			24,500			6,700			-
Mortgage payables		122,073			-			132,823			199,096			163,664			155,597			-
Total Liabilities	$	142,612		$	12,448		$	156,159		$	216,248		$	197,291		$	188,483		$	8,318
MEMBERS' EQUITY
Members' capital		74,442			235,793			72,781			119,087			88,234			172,560			213,715
Accumulated deficit		(11,808	)		(9,559	)		(27,809	)		(41,187	)		(30,877	)		(42,742	)		5,954
Total members' equity (deficit)		62,633			226,234			44,972			77,900			57,358			129,818			219,669
Total liabilities and members' equity (deficit)	$	205,245		$	238,682		$	201,131		$	294,148		$	254,649		$	318,301		$	227,987
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		62,633			226,234			44,972			77,900			57,358			129,818			219,669
Net adjustments to fair value		111,460			54,188			37,735			95,668			110,126			74,920			58,699
TOTAL NET ASSETS	$	174,093		$	280,422		$	82,707		$	173,568		$	167,484		$	204,738		$	278,368
NET ASSET VALUE PER INTEREST	$	15.57		$	9.79		$	8.74		$	11.82		$	14.36		$	9.69		$	10.56

		Swift			Taylor			Terracotta			Theodore			Tulip			Tuscan			Tuscarora
ASSETS
Current assets:
Cash	$	13,769		$	1,356		$	2,838		$	14,268		$	5,914		$	16,335		$	10,042
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		0			2,661			4,117			470			3,407			454			110
Deposits		4,982			935			2,506			3,365			5,135			(1,416	)		8,890
Property and equipment, net		320,385			215,983			297,047			274,955			293,053			288,430			315,080
Total assets	$	339,137		$	220,936		$	306,508		$	293,058		$	307,509		$	303,804		$	334,123
LIABILITIES
Current liabilities:
Accrued expenses	$	4,906		$	1,403		$	1,560		$	2,360		$	1,534		$	7,542		$	3,897
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		17,995			4,828			10,790			4,664			6,368			7,948			6,049
Tenant deposits		2,195			-			1,745			2,245			2,195			2,295			-
Note payable, related party		-			11,100			26,100			-			24,300			-			-
Mortgage payables		-			112,221			220,443			-			219,741			180,923			-
Total Liabilities	$	25,096		$	129,552		$	260,638		$	9,269		$	254,138		$	198,709		$	9,945
MEMBERS' EQUITY
Members' capital		325,259			135,743			110,983			288,874			104,022			113,542			325,533
Accumulated deficit		(11,219	)		(44,359	)		(65,113	)		(5,084	)		(50,651	)		(8,447	)		(1,356	)
Total members' equity (deficit)		314,041			91,384			45,870			283,789			53,371			105,095			324,177
Total liabilities and members' equity (deficit)	$	339,137		$	220,936		$	306,508		$	293,058		$	307,509		$	303,804		$	334,123
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		314,041			91,384			45,870			283,789			53,371			105,095			324,177
Net adjustments to fair value		62,839			57,856			75,655			61,396			70,943			171,014			112,282
TOTAL NET ASSETS	$	376,879		$	149,240		$	121,525		$	345,185		$	124,314		$	276,109		$	436,459
NET ASSET VALUE PER INTEREST	$	9.54		$	9.37		$	8.70		$	10.18		$	8.89		$	16.78		$	11.22

		Tuxford			Vernon			Walton			Wave			Weldon			Wellington			Wentworth
ASSETS
Current assets:
Cash	$	3,912		$	3,514		$	10,037		$	3,691		$	3,811		$	9,222		$	8,597
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		3,831			3,257			81			3,900			2,552			-			2,443
Deposits		2,913			5,254			3,929			9,220			3,723			5,580			3,500
Property and equipment, net		241,297			236,229			279,002			308,255			190,999			380,799			211,447
Total assets	$	251,952		$	248,254		$	293,049		$	325,065		$	201,085		$	395,601		$	225,987
LIABILITIES
Current liabilities:
Accrued expenses	$	1,504		$	1,641		$	7,491		$	1,943		$	1,316		$	4,519		$	1,327
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		7,246			5,106			11,560			9,919			7,075			8,352			5,671
Tenant deposits		1,895			2,843			1,895			2,195			2,168			2,395			1,595
Note payable, related party		25,800			7,400			29,000			94,200			-			-			-
Mortgage payables		176,637			179,968			-			221,833			134,943			-			155,265
Total Liabilities	$	213,083		$	196,957		$	49,946		$	330,091		$	145,502		$	15,266		$	163,859
MEMBERS' EQUITY
Members' capital		92,643			83,776			292,100			112,377			80,303			396,251			64,842
Accumulated deficit		(53,774	)		(32,478	)		(48,997	)		(117,402	)		(24,721	)		(15,916	)		(2,714	)
Total members' equity (deficit)		38,869			51,298			243,103			(5,025	)		55,582			380,335			62,128
Total liabilities and members' equity (deficit)	$	251,952		$	248,254		$	293,049		$	325,065		$	201,085		$	395,601		$	225,987
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		38,869			51,298			243,103			(5,025	)		55,582			380,335			62,128
Net adjustments to fair value		51,073			68,483			103,949			74,083			72,976			57,294			111,798
TOTAL NET ASSETS	$	89,942		$	119,780		$	347,052		$	69,058		$	128,558		$	437,628		$	173,927
NET ASSET VALUE PER INTEREST	$	7.46		$	10.32		$	10.12		$	4.95		$	12.60		$	9.30		$	15.76

		Wescott			Westchester			Wildwood			Willow			Wilson			Winchester			Windsor
ASSETS
Current assets:
Cash	$	4,206		$	7,118		$	7,921		$	4,469		$	9,778		$	6,106		$	6,045
Other receivables		-			-			-			-			-			-			-
Prepaid expenses		1,003			3,862			2,729			222			61			426			4,258
Deposits		5,195			2,837			3,993			3,510			4,610			3,303			5,677
Property and equipment, net		254,154			306,857			204,114			272,256			358,987			257,833			315,130
Total assets	$	264,557		$	320,673		$	218,758		$	280,458		$	373,436		$	267,668		$	331,110
LIABILITIES
Current liabilities:
Accrued expenses	$	1,475		$	1,758		$	1,321		$	4,451		$	7,256		$	3,308		$	2,407
Accounts payable		-			-			-			-			-			-			-
Due to (from) related parties		9,658			7,576			6,081			9,694			8,196			3,577			12,598
Tenant deposits		3,440			3,119			1,945			1,545			2,445			1,895			2,595
Note payable, related party		20,800			16,600			-			-			-			-			41,500
Mortgage payables		133,122			196,519			107,353			-			-			-			224,870
Total Liabilities	$	168,495		$	225,572		$	116,700		$	15,690		$	17,897		$	8,780		$	283,969
MEMBERS' EQUITY
Members' capital		144,879			140,645			113,611			278,945			363,895			272,880			114,006
Accumulated deficit		(48,817	)		(45,544	)		(11,554	)		(14,177	)		(8,357	)		(13,992	)		(66,864	)
Total members' equity (deficit)		96,062			95,102			102,057			264,769			355,538			258,888			47,141
Total liabilities and members' equity (deficit)	$	264,557		$	320,673		$	218,758		$	280,458		$	373,436		$	267,668		$	331,110
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		96,062			95,102			102,057			264,769			355,538			258,888			47,141
Net adjustments to fair value		65,395			96,107			70,327			72,208			104,731			64,560			131,887
TOTAL NET ASSETS	$	161,457		$	191,209		$	172,384		$	336,977		$	460,269		$	323,448		$	179,028
NET ASSET VALUE PER INTEREST	$	9.09		$	10.56		$	11.75		$	10.07		$	10.39		$	10.25		$	11.56

		Winston			Wisteria
ASSETS
Current assets:
Cash	$	11,749		$	7,546
Other receivables		-			-
Prepaid expenses		213			3,260
Deposits		5,147			5,399
Property and equipment, net		306,564			279,188
Total assets	$	323,674		$	295,394
LIABILITIES
Current liabilities:
Accrued expenses	$	3,133		$	1,445
Accounts payable		-			-
Due to (from) related parties		6,259			5,108
Tenant deposits		1,795			3,143
Note payable, related party		-			9,300
Mortgage payables		-			205,414
Total Liabilities	$	11,188		$	224,410
MEMBERS' EQUITY
Members' capital		320,266			96,606
Accumulated deficit		(7,779	)		(25,622	)
Total members' equity (deficit)		312,486			70,984
Total liabilities and members' equity (deficit)	$	323,674		$	295,394
NET FAIR VALUE ASSETS CONSIST OF:
Net asset value with members' equity (without fair value adjustments)		312,486			70,984
Net adjustments to fair value		51,135			71,377
TOTAL NET ASSETS	$	363,621		$	142,361
NET ASSET VALUE PER INTEREST		9.57			11.15

[1] Estimated Balance Sheet as of May 31, 2025.

As described in the section “Description of the Securities Being Offered—Valuation Policies,” in the Offering Circular, our operating agreement provides that, following the initial period, at the end of each quarterly period our Manager’s internal accountants and asset management team will calculate our NAV using a process that reflects, among other matters:

● an estimated value of our investments, as determined by the Manager’s asset management team, including related liabilities, based upon (a) information from publicly available sources about (i) market rents, comparable sales information and interest rates and (ii) with respect to debt, default rates and discount rates, and (b) in certain instances reports of the underlying real estate provided by an independent valuation expert or automated valuation models;

● the price of liquid assets for which third party market quotes are available;

● accruals of our periodic distributions on our common shares; and

● estimated accruals of the revenues, fees and expenses where we will (a) amortize the brokerage fee, offering expenses and sourcing fee over five years and (b) include accrued fees and operating expenses, accrued distributions payable, accrued management fees and any inter-company loans extended to the Company by our Manager.

 Such determinations may include subjective judgments by the Manager regarding the applicability of certain inputs to market rents and comparable sales information. We do not utilize a capitalization rate approach in determining NAV, because given the nature of our investments in primary residences, we do not believe that the value of a many of our assets can be determined based solely on the business activities as the resale value of such asset will be decided independently of the success of such business activities.

Note, however, that the determination of our NAV is not based on, nor intended to comply with, fair value standards under U.S. GAAP, and such NAV may not be indicative of the price that we would receive for our assets at current market conditions. As a result, the calculation of our NAV may not reflect the precise amount that might be paid for your interests in a market transaction, and any potential disparity in our NAV may be in favor of either holders who redeem their interests, or holders who repurchase such interests, or existing holders. In instances where we determine that an appraisal of a property is necessary, including, but not limited to, instances where third party market values for comparable properties are either nonexistent or extremely inconsistent, we will engage an appraiser that has expertise in appraising residential real estate assets, to act as our independent valuation expert. The independent valuation expert is not responsible for, nor for preparing, our NAV per interest.

As there is no market value for the interests of any series as they are not expected to be listed or traded on any stock exchange (though periodic trading may become available pursuant to our arrangement with North Capital Private Securities (“NCPS”), which is intended to facilitate secondary transactions in interests on an alternative trading system owned and operated by NCPS, as described in the section “Description of Business—Liquidity Platform” in the Offering Circular), our goal in setting NAV on a quarterly basis is to provide a reasonable estimate of the value of our interests on a quarterly basis. However, each series property consists of residential real estate and, as with any residential real estate valuation protocol, the conclusions reached by the Manager’s asset management team or internal accountants, as the case may be, are based on a number of judgments, assumptions and opinions about future events that may or may not prove to be correct. The use of different judgments, assumptions or opinions would likely result in different estimates of the value of our investments. In addition, for any given period, our published NAV may not fully reflect certain material events, to the extent that the financial impact of such events on our portfolio is not immediately quantifiable.

Safe Harbor Statement

The information contained in this Current Report on Form 1-U includes some statements that are not historical and that are considered “forward-looking statements.”  Such forward-looking statements include, but are not limited to, statements regarding our development plans for our business; our strategies and business outlook; anticipated development of our company, the manager and the Arrived platform (defined in the Offering Circular); and various other matters (including contingent liabilities and obligations and changes in accounting policies, standards and interpretations).  These forward-looking statements express the manager’s expectations, hopes, beliefs, and intentions regarding the future.  In addition, without limiting the foregoing, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.  The words “anticipates,” “believes,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “might,” “plans,” “possible,” “potential,” “predicts,” “projects,” “seeks,” “should,” “will,” “would” and similar expressions and variations, or comparable terminology, or the negatives of any of the foregoing, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements contained in this Current Report on Form 1-U are based on current expectations and beliefs concerning future developments that are difficult to predict.  Neither our company nor the manager can guarantee future performance, or that future developments affecting our company, the manager or the Arrived platform will be as currently anticipated.  These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

All forward-looking statements attributable to us are expressly qualified in their entirety by these risks and uncertainties.  These risks and uncertainties, along with others, are also described in the Offering Circular under the headings “Summary – Summary Risk Factors” and “Risk Factors.” Should one or more of these risks or uncertainties materialize, or should any of the parties’ assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.  You should not place undue reliance on any forward-looking statements and should not make an investment decision based solely on these forward-looking statements.  We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

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SIGNATURES

Pursuant to the requirements of Regulation A, the issuer has duly caused this Current Report on Form 1-U to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on July 25, 2025.

Arrived Homes, LLC
By:	Arrived Fund Manager, LLC
Its:	Managing Member
By:	/s/ Ryan Frazier
	Name: Ryan Frazier
	Title:  Chief Executive Officer