M&A - Fundrise Development eREIT, LLC

Form Type: 1-U

Filing Date: 2025-01-31

Corporate Action: Acquisition

Type: New

Accession Number: 000110465925007974

Filing Summary: On December 26, 2024, Fundrise Development eREIT, LLC reported the acquisition of a tenancy-in-common interest in two properties located in Los Angeles, California. The first acquisition involves a 75,000 square foot mixed-use property at 5957 S Western Ave, and the second acquisition is for a 23,000 square foot creative office building at 4801 W Jefferson Blvd. In addition, the Company has disposed of portions of its interests in two creative office properties: one at 4202 W Jefferson Blvd (15,000 square feet) and another at 4216 W Jefferson Blvd (11,300 square feet). Following these transactions, the Company’s asset portfolio is approximately distributed as follows: 49% Other, 16% Multifamily, 15% Build For Rent, 15% Creative Office, and 5% Industrial. By strategy, the portfolio consists of 52% Value Add and 48% Opportunistic.

Form Type: 253G2

Filing Date: 2025-01-31

Corporate Action: Acquisition

Type: New

Accession Number: 000110465925007977

Filing Summary: On January 31, 2025, Fundrise Development eREIT, LLC filed Supplement No. 3 to their Offering Circular dated November 18, 2024. This supplement highlights significant recent asset updates including acquisitions and disposals within their portfolio. The Company has acquired a tenancy-in-common interest in two properties located in Los Angeles: the W59 Controlled Subsidiary, a 75,000 square foot mixed-use property, and the W480 Controlled Subsidiary, a 23,000 square foot creative office property. In addition to these acquisitions, the Company has disposed of portions of its interests in two creative office properties: the W420 Controlled Subsidiary and the W421 Controlled Subsidiary, both also located in Los Angeles. Furthermore, the document outlines the approximate portfolio breakdown by asset type and strategy, with 49% of the portfolio categorized as 'Other' and split between 'Value Add' (52%) and 'Opportunistic' (48%).