Complaints

This profile includes complaints for Fundrise's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Fundrise

  11 DuPont Cir NW Fl 9 Washington, DC 20036-1207

  
• 

  Fundrise

  1601 Connecticut Ave NW Ste 300 Washington, DC 20009-1076

  
• 

  Fundrise

  1519 Connecticut Ave NW Ste 200 Washington, DC 20036-1121

  

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:03/11/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I invested some monies in Fundrise, but now I have got into financial issues and I need my money back. Not only are they not honoring to close my account but they also are withholding my money. Further more, you cannot contact them in any manner. There .com contact information doesn't work and states it's none existant, and then when you use the contact form, it doesn't work either saying they are having technical difficulties. Furthermore the stupid AI answering device doesn't respond to your questions appropriately and in the end it cuts you off without resolving your issue. All I need is my account closed and my money back, but I need my money back now. I can't reach anyone or anything as none of their communication opportunities nor their other means working! They are now withholding my money against my will and offering no way to get it or communicatee with anyone or anything.

  

  Business Response

  Date: 04/01/2025

  *****, 

  Thank you for giving us an opportunity to provide more information. 

  Fundrise investments are intended to be long-term investments. However, each of our funds offers the potential for early liquidity. For the funds in your portfolio, we review liquidation requests on a quarterly basis. We must operate within strict regulations around ************* and *********** liquidations, and we have an obligation to treat all investors seeking to liquidate from the eREITs the same, regardless of the circumstances, so we are unable to expedite this review timing. 

  We strive to make our policies clear to all investors and prospective investors by putting information about our liquidation processes in our offering documents, Help Center articles, as well as acknowledgments that investors must attest to before placing an investment. 

  This information is also included in our AI-powered self-service tools, which you mentioned receiving a reply from. That said, we have a dedicated team of ****************** associates to help answer any questions. Our records show that our team followed up with you personally over email and spoke with you on the phone to provide additional information per your request to discuss your question further. 

  Since liquidations are reviewed on a quarterly basis, we should be in touch with additional information regarding your liquidation in early April. In the meantime, you can track the status of your liquidation request on the Transactions page of your dashboard. 

  Should you have any further questions or concerns, please feel free to reach out to us at ******************************** and we will do our best to assist you.
  
  ******* Davis 
  Senior Vice President of ****************** & Investor Operations

• Initial Complaint

  Date:01/29/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

   
  Complaint: 22849301
  
  I am rejecting this response because:

  I know they are not a lending company which has no relevance.

  All that matters is that they have money that belongs to me and they are refusing to release my money to me at this time.

  Keeping someones money from them is fraud and illegal.

  I want my money nothing extra just what is legally mine which is $44.12. If we take this to court a judge will order you to release MY money plus lawyer fees, court costs, lost wages, and more.

   You can either send my $44.12 to my account or Ill proceed to court.

  
  Sincerely,
  
  ****** *********

  

  Business Response

  Date: 01/23/2025

  Again, we are not a lending company.

  we are a remodeling company.

   

  please remove complain

  Thank you

  Celina

   

  Customer Answer

  Date: 01/29/2025

  The company is called Fundrise. Here is their website link *********************************.

  Customer Answer

  Date: 01/29/2025

  I requested to withdraw my available funds. After completing my request it says I wont receive my money until April 2025.When I deposited funds they were over with accepting my money immediately.I sent an email to request immediate processing and was responded to by **************** should not be about to hold my funds for over 90 days.I want my refund in the amount of $44.12.

  

  Business Response

  Date: 02/06/2025

  Shasta,

  Thank you for giving us an opportunity to provide more information.

  Fundrise investments are intended to be long-term investments. However, each of our funds offers the potential for early liquidity. For the ************** we review liquidation requests on a quarterly basis. We must operate within strict regulations around ************* liquidations, so we are unable to expedite this review timing.

  We strive to make our policies clear to all investors and prospective investors by putting information about our liquidation processes in our offering documents, Help Center articles, as well as acknowledgments that investors must attest to before placing an investment. 

  This information is also included in our AI-powered self-service tools which you mentioned receiving a reply from. That said, we have a dedicated team of ****************** associates to help answer any questions. Our records show that our team followed up with you personally to provide additional information per your request to discuss your question further. 

  Since liquidations are reviewed on a quarterly basis, we should be in touch with additional information regarding your liquidation in early April. In the meantime, you can track the status of your liquidation request on the Transactions page of your dashboard. 

  Should you have any further questions or concerns, please feel free to reach out to us at ******************************** and we will do our best to assist you.
  

  ******* *****

  Senior Vice President of ****************** & Investor Operations

  Customer Answer

  Date: 03/05/2025

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: 22849301
  
  I am rejecting this response because:
  You do not have the right to keep my money. I requested closure and expect my funds now.
  
  Regards,
  
  ****** *********
  
  
  
  
  
  
  
  
  

• Initial Complaint

  Date:01/19/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On 11.18.24 I wrote an email to customer service "*****" I asked if it was possible to get all my funds back if I needed to & what the process would be.I have been a customer for 4 yrs putting in money every week $50 to 100$ a week. I had 14K by then over about 7 different funds. Only 3 of the funds can you take money out without penalty. I did not want them to liquidate my accounts, I just wanted to know the process and the penalties. Two days later I went to put more money into one of my funds and my account and frozen, since they don't have a phone number to contact fundrise i emailed ***** and asked why my account is frozen, she said she liquified my entire portfolio without asking me. Nor did she have me fill out the required forms that requires my signature. I have lost hundreds of dollars in return on investments because of this and my entire portfolio. She would not let me talk to a supervisor and nor did she stop the liquefying my account when I begged after it was started to just days before and before any money was removed. Then when they took all my money out, I was going to put it right back in, but my account still shows its frozen and I emailed them and after 20 plus emails they finally emailed me back saying i can no longer be customer since i liquidated my account. 1.). I showed them where i did not ask to have my account liquidated, they did not respond to that and said it was my fault. 2.) I did not sign any paperwork required by Fundrise to liquidate my account. 3.) Only a couple of funds can you liquidate and the majority of the funds I invested are ones you cannot liquidate at least not with huge penalties; they did not charge me penalties. 4.) They will not answer my emails or let me speak to any supervisors or management so I can get my account fixed because of their mistake. 5:) * love ***** on return of investments for 5 months they liquated my account I worked 4 years to build up. I want my account fixed and the money i lost out on.

  

  Business Response

  Date: 02/06/2025

  Thank you for giving us an opportunity to provide more information.

  We strive to be transparent with our communication and our procedures. Our records show that we have been in regular contact with you since you asked about liquidating your account in November regarding this process and the circumstances around your liquidation, with our last email to you being on January 22, 2025. 

  After you asked about it, your account was liquidated in accordance with our policies. As you mentioned, your account was liquidated penalty-free, and I can confirm that the funds in your portfolio continued to earn dividends until the effective date of each funds respective liquidation.

  We appreciate your interest in investing with Fundrise again, however, as a result of the process that we went through to liquidate your account, it will remain frozen.

  Should you have any further questions or concerns, please feel free to reach out to us at ******************************** and, if there is any new information we can provide, we will do our best to assist you.

  
  

• Initial Complaint

  Date:11/13/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I invested in Fundrise five years ago (Oct. 31, 2019). About $12,000. The returns were abysmal but I remained optimistic. Finally, after waiting 5 years (Nov. 12, 2024), I decided to liquidate my shares and invest the money in a more competent/successful endeavor. Fundrise plans to deduct penalties from my money, saying that I haven't held the shares for 5 years. Their *** told me that with every investment (dividend reinvestment or auto-investment included), the 5 year clock is re-set. This is unacceptable and reeks of deceptive, opportunistic business practices. If anything, when processing my liquidation request, Fundrise should have disaggregated my holdings by length of time held, and only assessed penalties on the exact amount of shares I held for less than 5 years. Bigger picture, Fundrise just feels like a scam operation that is treating smaller investors like me as a bank and not as customers. They essentially borrowed my money at a 1.5% interest rate to invest in God knows what. Since the Funds in which I allegedly held shares vastly outperformed my portfolio. I would like to be made whole.

  

  Business Response

  Date: 11/22/2024

  Nia,
  Thank you for giving us an opportunity to provide more information.
  Fundrise investments are intended to be long term investments, however, the ************************* and *********************** do not have any early liquidation penalties. Only eREIT or ***** shares held for less than 5 years may be subject to a penalty. 
  If a liquidation request contains shares of eREITs that are held for more than 5 years and shares of eREITs held for less than 5 years, only the shares that have been owned for less than 5 years are subject to early liquidation penalties. 
  For the avoidance of doubt, any eREIT shares held for more than 5 years are not subject to any early liquidation penalties.
  We strive to make our policies clear to all investors and prospective investors by putting information about our liquidation processes in our offering documents, Help Center articles, as well as acknowledgments that investors must attest to before placing an investment. 
  You can track the status of your liquidation request on the Transactions page of your dashboard. Since liquidations are processed on a quarterly basis, we should be in touch with additional information regarding your liquidation in early January. 
  Should you have any further questions or concerns, please feel free to reach out to us at ******************************** and we will do our best to assist you.
  
  ******* Davis 
  Senior Vice President of Investor Relations & Investor Operations

• Initial Complaint

  Date:10/13/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  It was around July 20th.I deposited $91 into the account hoping it would do good in an investing account which it didn't.They emailed me to ask for further verification for my bank and ID, which I successfully did.Later on my account was locked with no email stating why.A few days ago it was time for the withdrawal quarterly period to get my money out, they said my bank info was incorrect which is impossible since I verified ***** response from their team in a month or two by email or phone.

  

  Business Response

  Date: 10/25/2024

  *****,

  Thank you for giving us an opportunity to provide more information. 

  The bank account and identification documents you provided our team do not match the information on your account. Our systems are designed to flag this type of activity as suspicious, and as such your account has been locked. 

  To resolve this, you will need to email our team at ******************************** to provide bank documents and identification that match your Fundrise account. 

  ******* Davis 
  Senior Vice President of Investor Relations & Investor Operations

  Customer Answer

  Date: 11/04/2024

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: 22417009
  
  I am rejecting this response because:
  
  
  Regards,
  
  ***** ******
  
  
  
  
  
  
  
  
  

• Initial Complaint

  Date:06/05/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I purchased into the **** after my investment, I begun to face significant financial difficulty, and was forced to withdraw my investments. I never received my IPO investment. Reading the form I allegedly signed electronically, I signed that I understood that I may not be able to withdraw these funds. But now when I reach out to Fundrise customer service via email, because no phone number is set on their site, I do not get any response.I understand the type of investment, I'm in the industry. But I need it to be returned, and I need a response from the company regarding this, instead of being ignored by customer service.

  

  Business Response

  Date: 07/02/2024

  Hi ******, 

  Thank you for giving us the opportunity to address your concerns and provide more information.

  After reviewing our communication with you, we confirmed that your last email we received on July 21, 2023 was promptly responded to by a member of our Investor Relations team with instructions on how to request a liquidation of your iPO shares. As a note, we typically respond to emails within one business day. Please ensure ******************************** is added to your contacts and that our messages are not being routed to your spam folder. 

  That said, we sent you an email yesterday July 1, 2024 (to the email address associated with your Fundrise account, which matches your contact information provided by the BBB) with detailed instructions on how to liquidate your Fundrise iPO shares.

  If you need further assistance, please reach out to our team at ********************************.
  
  *************************;
  Senior Vice President of Investor Relations & Investor Operations

• Initial Complaint

  Date:01/26/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I invested close to $15,000 with Fundrise in 2021 they have not only lost $1000 of my money approximately, they are also forcing me to invest $10 a month in this loser investment. I own a real estate company and many properties; my properties have not gone down to the Fundrise percentage neither has anybody else's. They want to charge me 1% of my portfolio to take my money out before 2026. So, I just have to sit here and watch me bleed money and continue to invest in this JUNK???? How is this even allowed? They need to be investigated they have a ton of complaints.............

  

  Business Response

  Date: 02/16/2024

  Hello ****,

  Thank you for giving us an opportunity to address your concerns and provide more information. 

  Fundrise investments are intended to be long term investments (5+ years). Over the past year, the historic change in interest rates in terms of speed and magnitude drove asset values down across nearly the entire investment real estate industry, including many assets in the Fundrise portfolio.

  While we cannot guarantee future performance, we believe that the hard part is over, and falling interest rates should lead to stronger performance for real estate investors going forward. You can find additional information about our performance and market outlook in our recent letter to investors as well as our podcast. 

  That said, if you would like to cancel your auto-investment schedule which you elected, you can do so from your account settings. To disable your auto-invest schedule through the mobile app, start by navigating to the Menu at the top left-hand side of the screen, select Settings then Auto-Invest. From there, you should be able to disable your current auto-investment schedule. To be clear, auto-investing is not required at Fundrise and is something you elected. 

  Youre also welcome to submit a full liquidation request from the Advanced Options section of your account settings.

  The majority of your portfolio is made up of the *************************************** and *************** which do not incur any early liquidation penalties; however, any eREIT and eFund shares youve held for less than five years may be subject to a penalty. Please keep in mind any penalties, which we strive to make clear to investors and prospective investors, are paid back to the funds to defray the costs other shareholders bear in creating early liquidity.

  Our team left you a voicemail on February 15th, and wed be happy to reschedule a call with you or answer any additional questions over email. Please let us know if there is anything else we can assist with by emailing ********************************. 
  
  *************************;
  Senior Vice President of Investor Relations & Investor Operations

• Initial Complaint

  Date:01/21/2024

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Its been a month since my first request to Liquidate My Account. I was texted that We will Refer You To Our Investment Team and theyll contact you within 3 Biz days. Two weeks later, I retexted the same request. Nothing still. Fortunately I have a lawyer in the family this is not how investment firms operate highly suspicious. My wife has leukemia and I need this liquidation for medical reasons. Ill pay any legal fees to get my $ back. Terrible Company with a great website!

  

  Business Response

  Date: 02/09/2024

  Hi *******, 

  Thank you for allowing us to address your concerns and assist you with our liquidation process. 

  We confirmed that you contacted our Investor Relations team twice in December and once in January and our team responded each time with detailed instructions on liquidating your account. That said, please ensure you have ******************************** added to your contact list and that our messages are not being routed to your spam folder. 

  We left you a voicemail on 2/8/2024 offering assistance with the liquidation process if you would like to connect over a phone call. 

  You can read more about our liquidation process on our website in our ************ In order to liquidate your shares, you must submit a liquidation request for your real estate shares here: **********************************************************************;

  We have a separate liquidation process for iPO shares. More information on this process can be found in your email. As a reminder, the shares you own in the Fundrise iPO are considered long-term and illiquid, similar to a venture capital investment. You are welcome to place a liquidation request, however, requests are considered at the end of each quarter and we cannot guarantee that your request will be granted. Please keep in mind that if we are able to accommodate your early redemption request, you will not take part in any appreciation. Your effective redemption price should be equal to your initial purchase price for these shares. 

  We typically review and process liquidation requests quarterly for the majority of our funds so if you place a request by 3/29, your liquidation request will be considered in early April (end of Q1). Please note that any liquidation requests must be placed by the last business day of the quarter to be reviewed at the end of that quarter. 

  Once your liquidation requests are submitted, you can track the status of your request from the transactions tab of your dashboard: ***********************************************************;

  If you wish to discuss this further or have additional questions concerning the liquidation process, please feel free to reach out to our Investor Relations team at ********************************.
  
  *************************;
  Senior Vice President of Investor Relations & Investor Operations

• Initial Complaint

  Date:01/03/2024

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On September 6, 2023, I invested $1,000 in Fundrise, a REIT. Immediately the value of the investment began to diminish, even though I was not made aware that this was how their business worked. With other REITs, like ***********, the principal stays stable while dividends are paid. I inquired about this with Fundrise but did not receive a satisfactory answer. I frequently checked the value of the investment & it continued to decrease. By October, seeing no return on my investment, I requested a liquidation. They insisted that they could only process liquidation requests once per quarter (not before mid-January), & during this time, the value of my investment continued to decrease. As of this moment, the amount is finally being processed for $930.32. My complaints are multi-fold:1) Is there an independent, impartial, financially disinterested party valuing these investments? Or is it an internal party who indicates that my investment has decreased? If the latter, then how is that not a conflict of interest? With this kind of financially interested, self-dealing arrangement in which an internal party assesses the running value of an investment, what is to stop them from undervaluing said investment in their favor? I ask this since it is an entirely different business model than other REITS. Fundrise did not make this clear prior to my investment. 2) If this method is legal, why is their management so incompetent as to allow their funds & properties to perform so poorly during that time? As such, why did I pay $70 for the privilege of their holding my money for 4 months? By comparison, my *********** investment gained that amount of value in the same period of time--approximately $79.00. 3) Lastly, why did it take them three months to process the liquidation? As such, the value continues to decrease, allowing them to further devalue the remaining funds to be remitted to me upon liquidation. What modern, financial company needs 3 months to process a transaction?

  

  Business Response

  Date: 01/26/2024

  ***,
  
  Thank you for giving us the opportunity to address your concerns and provide more information.
  
  We do not have a guaranteed return as all investments on Fundrise involve risk.
  
  The changes in your account balance were driven mainly by the ****** Fund’s updated net asset value (NAV).
  
  For context on recent performance, within the *********Fund and more generally across the board, over the past 12 months, the historic change in interest rates in terms of speed and magnitude drove asset values down across nearly the entire investment real estate industry, including many assets in the Fundrise portfolio.
  
  That said, the Federal Reserve has signaled an end to rate hikes and we believe that inflation is beginning to ease. Just as rising interest rates can drive real estate values down, we believe that falling interest rates will likely propel real estate values higher.
  
  While, of course, we cannot guarantee future performance, we believe that the hard part is over, and falling rates should lead to stronger performance for real estate investors going forward.
  
  For the ******** Fund, our NAV is calculated daily. Our calculation is designed to adhere to the requirements for computing a current net asset value in Rule 2a-4 of the Investment Company Act of 1940 ("Rule 2a-4") which requires accounting recognition and measurement of the funds investments, among other assets and liabilities. The requirement for a funds investments states that portfolio securities with respect to which market quotations are readily available shall be valued at current market value, and other securities and assets shall be valued at fair value as determined in good faith by the board of directors of the registered company. Rule 2a-5 of the Investment Company Act of 1940 (“Rule 2a-5”) requires us to select and apply in a consistent manner an appropriate methodology or methodologies for determining the fair value of fund investments. In order to be appropriate, the selected methodology must be consistent with the principles of the valuation approaches laid out in Financial Accounting Standards Board Accounting Standards Codification 820: Fair Value Measurements (“ASC 820”).

  As described in the prospectus provided to you prior to making your investment, the majority of the investments our funds hold do not have readily available market quotations and so, in accordance with the requirement in Rule 2a-4, these investments are fair valued in good faith. Rule 2a-5 established a consistent, principles-based framework for boards of directors, or their designee, to use in creating their own specific process in order to determine fair values in good faith. We have used this framework to develop a robust process to determine the fair value of our funds investments. We determine such fair value measurements generally using proprietary models that rely on what the fair value hierarchy, defined in ASC 820, calls level 3 inputs. Level 3 inputs may include information derived through extrapolation or interpolation that cannot be directly corroborated by observable market data, and as such, may ultimately be determined on a different timeframe than is obvious based on observed timing of related market events, including because information from multiple external sources may be utilized to conclude upon the appropriate input that management believes a market participant would use. We monitor relevant and reliable market and investment specific information as it is available to us, and utilize that information to determine appropriate inputs used in our fair value measurements.
  
  We also want to make clear that the annual financial statements of the ******** Fund, as well as all of our funds, are audited annually by a PCAOB registered audit firm. You may find our audited financial statements filed on the SEC’s website for all historical periods for which audits are complete. For the ******** Fund, the annual audited financial statements are filed on Form N-CSR and include the required statements covering activity throughout the year, including the financial highlights that include our year end NAV calculation as well as the fair value measurement disclosures required by U.S. GAAP.
  
  Given the rigorous nature of the NAV process for the ******** Fund and more fully in our prospectus, we feel confident in the prices at which all investors have had the opportunity to transact on our platform.
  
  Fundrise investments are intended to be long term investments, as you know, and we maintain a positive outlook on our long-term portfolio strategy.
  
  In regards to our liquidation process, our ******** Fund reviews outstanding liquidation requests towards the end of each calendar quarter. Since you requested a liquidation in October (Q4), your request was reviewed in early January (end of Q4).
  
  We strive to make the illiquid nature of our investments clear to all investors and non-investors by putting this information in all of our offering materials, acknowledgments an investor must attest to at the time of subscription, and through emails directed to investors.
  
  You may find our Year-End Letter to investors helpful (found on the newsfeed located in your dashboard). This provides further detail about the performance of our funds and our general thoughts on the market.
  
  If you have any further questions, please reach out to our team at [email protected].
  
  ******* *****
  Senior Vice President of Investor Relations & Investor Operations

  Customer Answer

  Date: 02/01/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me, given the current conditions. 

  I still believe that some of the terms of Fundrise's investment were not made sufficiently clear--in layman's terms--prior to the start of investing.  The system is rigged against people who do not have attorneys on retainer.  Still, I accept the extensive response by the company. 
  
  Regards,
  
  *************************
  

• Initial Complaint

  Date:12/08/2023

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  They continue to praise their transparency but have repeatedly sent me generic responses to any questions I have. Everything in this account has continued to decline. I have real estate investments trust, REITs in other brokerage accounts which have NOT declined to this degree. Im thinking this is a fraudulent business who Will complicate the liquidation process in order to fraud the public.

  

  Business Response

  Date: 12/27/2023

  Rich,

  Thank you for allowing us to address your concerns. At Fundrise, we strive to set an unparalleled standard for transparency and reporting. All material updates on our assets and the performance of our funds are publicly available on the SEC ***** site. This is something we take very seriously. 

  It is certainly not our intention to make the liquidation process complicated. We strive to make the illiquid nature of our investments clear to all investors and non-investors by putting this information in all of our offering materials, acknowledgments an investor must attest to at the time of subscription, and through emails directed to investors. This illiquidity is a feature of our product that we wish for our investors to understand and be comfortable with. The vast majority of our investors seek out our investment product specifically for the stability that comes with an illiquid, non-tradable asset such as real property.

  In regards to your returns, I confirmed that a member of our Investor Relations team was able to connect with you on Oct 02, 2023 about your recent account performance. To summarize, your portfolios recent performance was driven mainly by the ******** Funds NAV decrease. For additional context, we have continued to see cap rates increase in many of our assets, which has led to property valuations decreasing. These cap rate increases are generally a result of broadly softening market conditions and increasing interest rates. Even though the fundamentals, such as rent growth and occupancy, have continued to remain strong across the portfolio, increases in interest rates generally lead to a decrease in property valuations. While there may be additional movements in the near term in share price (both up or down), the underlying fundamentals of the assets themselves remain strong, which is what we focus on for our long-term strategy. 

  All that said, if you wish to discuss this further or have additional questions concerning the liquidation process, please feel free to reach out to our Investor Relations team at [email protected].
  
  *************************;
  Senior Vice President of Investor Relations & Investor Operations