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