Fundrise eREIT, LLC 8-K

What Happened

• Fundrise eREIT announced on April 29, 2026 that it completed mergers (the "Mergers") in which seven Fundrise Merger Entities merged into Fundrise eREIT under an Agreement of Merger and Plan of Reorganization. At the Effective Time (April 29, 2026), each merged entity’s separate existence terminated and its assets, liabilities and rights continued under Fundrise eREIT.
• Fundrise eREIT issued its common shares to shareholders of each merged entity using NAV-based exchange ratios (see below). Fundrise eREIT also amended and restated its operating agreement (the A&R Operating Agreement) at the Effective Time. The share issuances were registered on Form S-4 (File No. 333-293216).
• On May 1, 2026 the Manager declared a daily distribution of $0.0000684930 per share for each day from May 1–31, 2026 (payable to daily record holders and scheduled to be paid prior to July 21, 2026), which the filing notes equates to roughly a 0.25% annualized return assuming a $10.00 per-share price.

Key Details

• Effective date of the Mergers: April 29, 2026 (same Effective Time for all Mergers).
• Exchange Ratios (Fundrise Merger Entity : Fundrise eREIT share):
  • Fundrise Development eREIT, LLC — 0.812 : 1.00
  • Fundrise Equity REIT, LLC — 1.368 : 1.00
  • Fundrise East Coast Opportunistic REIT, LLC — 0.961 : 1.00
  • Fundrise Growth eREIT II, LLC — 1.299 : 1.00
  • Fundrise Growth eREIT III, LLC — 1.495 : 1.00
  • Fundrise Midland Opportunistic REIT, LLC — 1.185 : 1.00
  • Fundrise West Coast Opportunistic REIT, LLC — 0.947 : 1.00
• The total value held by each shareholder immediately before the Mergers was preserved (no sales charges or redemption fees were charged in connection with the Mergers).
• A&R Operating Agreement filed as Exhibit 3.1; Merger Agreement filed as Exhibit 2.1; issuance registered on Form S-4 (File No. 333-293216).

Why It Matters

• This transaction consolidates multiple Fundrise-sponsored REIT entities into a single Fundrise eREIT structure, simplifying the corporate structure and concentrating assets and membership into one entity. Shareholders received Fundrise eREIT shares based on NAV-derived exchange ratios, with total value preserved and no transaction fees.
• For investors, the filing is material because it changes which legal entity holds assets and issues shares, updates the governing operating agreement, and may affect reporting, governance and the makeup of Fundrise eREIT’s portfolio going forward. The declared daily distribution for May 2026 provides a near-term cash return to shareholders (annualized ~0.25% based on $10/share), though the Manager is not obligated to maintain similar distributions in the future.