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Fundrise's e-REIT Oversubscribed by 403% in Four Hours | Tony Seruga
Dec
08

Fundrise’s e-REIT Oversubscribed by 403% in Four Hours

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Fundrise CEO Ben Miller

WASHINGTON, DC—Well, that didn’t take long. Actually, that didn’t even take a full morning. “That” refers to the oversubscribed sell out of locally-based Fundrise’s new e-REIT for qualified investors. Four hours after it opened it doors it was oversubscribed by 403%, according to an email by CEO Ben Miller.

Fundrise first gave prospective investors a peek of what it had been working on for the past year or so in a regulatory filing at the end of November.

“We expect to be one of the first non-exchange traded REITs offered directly to investors solely over the Internet, and the first available to both accredited and non-accredited investors,” the filing said…

Fundrise’s e-REIT Oversubscribed by 403% in Four Hours

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