M&A - Wahed Real Estate Series 1 LLC

Form Type: 1-SA

Filing Date: 2025-02-28

Corporate Action: Acquisition

Type: New

Accession Number: 000121390025018302

Filing Summary: Wahed Real Estate Series 1 LLC has filed a special financial report for the period ending June 30, 2024, indicating its financial position since its formation on May 14, 2024. The report reveals total current assets of $82,250, all of which consist of deferred offering costs. The entity has no revenues or expenses reported up to the period ending. The financial statements highlight the firm’s dependency on additional capital resources to commence operations and face significant risks, including the uncertainty of obtaining necessary funding. Notably, the document details that on August 9, 2024, the company acquired a property in Sterling Heights, Michigan, for $260,000, establishing Series Paign Drive to fund this acquisition through an offering of 3,136 Series Interests, although no interests have been issued as of the report's date. Financial governance and operational management are directed by Wahed Financial, LLC, the sole member. The company is structured to treat each Series as separate entities for taxation purposes, and no capital contributions have been reported as of the end of June 2024.

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