v3.26.1
Formation and Organization
6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Formation and Organization Formation and Organization
Fundrise eREIT, LLC (the “Company”) was formed on October 16, 2025, as a Delaware limited liability company and commenced operations on April 29, 2026, following its merger with Fundrise Equity REIT, LLC, Fundrise Development eREIT, LLC, Fundrise East Coast Opportunistic REIT, LLC, Fundrise Growth eREIT II, LLC, Fundrise Growth eREIT III, LLC, Fundrise Midland Opportunistic REIT, LLC and Fundrise West Coast Opportunistic REIT, LLC (collectively the “Merger Entities”), with the Company as the surviving entity (the "Merger"). In connection with the Merger, the Company issued to the shareholders of each Merger Entity's common shares based on an agreed upon exchange ratio (“Exchange Ratio”). The Exchange Ratio was based on each Merger Entity's net asset value per share that was effective as of the date of the Merger. As used herein, the “Company”, “we”, “us”, and “our” refer to Fundrise eREIT, LLC except where the context otherwise requires.
The Company has one operating and reportable segment consisting of investments in real estate. The Company was organized to primarily originate, invest in and manage a diversified portfolio of residential and commercial real estate properties, as well as commercial real estate-related debt (including commercial mortgage-backed securities (“CMBSs”), collateralized debt obligations (“CDOs”), real estate investment trust ("REIT") senior unsecured debt), and other select real estate-related assets, where the underlying assets primarily consist of such properties and investments. The Company may make its investments through majority-owned entities, joint ventures, and co-investment arrangements, some of which may offer rights to receive preferred economic returns. Each investment in real estate properties is acquired by a limited liability company that is a subsidiary of ours. These subsidiaries are consolidated in these financial statements.

The Company’s business is externally managed by Fundrise Advisors, LLC (the “Manager”), a Delaware limited liability company and an investment adviser registered with the Securities and Exchange Commission (the “SEC”). Subject to certain restrictions and limitations, the Manager is responsible for managing the Company’s affairs on a day-to-day basis and for identifying and making acquisitions and investments on behalf of the Company.
We intend to qualify as a REIT for federal income tax purposes beginning with the year ending December 31, 2026. The Company has three taxable REIT subsidiaries ("TRS's"), a subsidiary that is intended to qualify as an Opportunity Fund pursuant to Section 1400Z-2 of the Internal Revenue Code of 1986, as amended (the "Code"), and has elected to treat certain wholly owned subsidiaries as qualified REIT subsidiaries (“QRSs”).

The Company is subject to the reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and files periodic reports with the SEC. The Company may in the future file a registration statement under the Securities Act of 1933, as amended (the "Securities Act") to register an offering of its common shares or other securities, subject to review by, and effectiveness or declaration of effectiveness by, the SEC, as applicable. Any future offering, including the amount and terms of securities offered, will be determined by the Manager. The Manager has the authority to issue an unlimited number of common shares.