Filed Pursuant to Rule 253(g)(2)
File No. 024-12141
RISE COMPANIES CORP.
SUPPLEMENT NO. 1 DATED OCTOBER 3, 2023
TO THE OFFERING CIRCULAR DATED SEPTEMBER 29, 2023
This document supplements, and should be read in conjunction with, the offering circular of Rise Companies Corp. (the "Company", “we”, “our” or “us”), dated September 29, 2023 and filed by us with the Securities and Exchange Commission (the “Commission”) on October 3, 2023 (the “Offering Circular”). Unless otherwise defined in this supplement, capitalized terms used in this supplement shall have the same meanings as set forth in the Offering Circular.
The purpose of this supplement is to disclose certain 2023 performance metrics of the Company.
Certain 2023 Performance Metrics
2023 year-to-date net returns of all client accounts of Fundrise Advisors by investment plan objective (January - September)1:
| Plan objective | Income | Balanced | Growth | Other | Overall | ||||||||||
| Dividends | 2.85 | % | 1.37 | % | 0.84 | % | 1.68 | % | 1.43 | % | |||||
| Appreciation | -3.32 | % | -4.71 | % | -5.17 | % | -4.38 | % | -4.64 | % | |||||
| Net Total Return | -0.47 | % | -3.33 | % | -4.33 | % | -2.69 | % | -3.21 | % |
2023 year-to-date net returns of all client accounts of Fundrise Advisors by fund objective (January - September)2:
| Fund objective | Net total return | ||
| Income | 5.12 | % | |
| Balanced | -5.75 | % | |
| Growth | -3.20 | % | |
| Overall | -3.21 | % |
2023 year-to-date performance of individual Fundrise sponsored funds (January - September)3:
| Fund name / objective | Average AUM4 | Launch date | Net total return | |||||||
| Registered funds | ||||||||||
| Flagship Real Estate Fund | $ | 1,386,106,393 | Jan 2021 | -5.52 | % | |||||
| Income Real Estate Fund | $ | 544,505,831 | Apr 2022 | 5.12 | % | |||||
| Innovation Fund | $ | 77,310,063 | Jul 2022 | 2.88 | % | |||||
| Growth | ||||||||||
| Growth eREIT | $ | 252,113,126 | Feb 2016 | -1.02 | % | |||||
| Growth eREIT II | $ | 161,080,449 | Sep 2018 | -4.72 | % | |||||
| Development eREIT | $ | 130,063,169 | Jun 2019 | -4.28 | % | |||||
| eFund | $ | 96,279,718 | Jun 2017 | -0.06 | % | |||||
| Growth eREIT III | $ | 63,242,911 | Feb 2019 | -7.61 | % | |||||
| Growth eREIT VII | $ | 83,434,923 | Jan 2021 | -5.45 | % | |||||
| Balanced | ||||||||||
| East Coast eREIT | $ | 165,534,709 | Oct 2016 | -12.86 | % | |||||
| Heartland eREIT | $ | 93,559,662 | Oct 2016 | -4.39 | % | |||||
| West Coast eREIT | $ | 88,003,265 | Oct 2016 | 2.08 | % | |||||
| Balanced eREIT II | $ | 54,407,187 | Jan 2021 | -5.02 | % | |||||
Net returns of all client accounts of Fundrise Advisors for Q3 2023 by investment plan objective1:
| Plan objective | Income | Balanced | Growth | Other | Overall | ||||||||||
| Dividends | 0.97 | % | 0.45 | % | 0.26 | % | 0.58 | % | 0.47 | % | |||||
| Appreciation | -2.04 | % | -2.90 | % | -3.12 | % | -2.60 | % | -2.83 | % | |||||
| Net Total Return | -1.07 | % | -2.45 | % | -2.86 | % | -2.03 | % | -2.36 | % |
Net returns of all client accounts of Fundrise Advisors for Q3 2023 by fund objective2:
| Fund objective | Net total return | ||
| Income | 1.70 | % | |
| Balanced | -4.13 | % | |
| Growth | -1.22 | % | |
| Overall | -2.36 | % |
Performance of individual Fundrise sponsored funds for Q3 20233:
| Fund name / objective | Average AUM4 | Launch date | Net total return | |||||||
| Registered funds | ||||||||||
| Flagship Real Estate Fund | $ | 1,369,355,541 | Jan 2021 | -3.61 | % | |||||
| Income Real Estate Fund | $ | 555,216,423 | Apr 2022 | 1.70 | % | |||||
| Innovation Fund | $ | 90,513,091 | Jul 2022 | 2.69 | % | |||||
| Growth | ||||||||||
| Growth eREIT | $ | 245,048,966 | Feb 2016 | -1.11 | % | |||||
| Growth eREIT II | $ | 148,237,608 | Sep 2018 | 0.43 | % | |||||
| Development eREIT | $ | 127,145,114 | Jun 2019 | -1.97 | % | |||||
| eFund | $ | 92,423,320 | Jun 2017 | 0.00 | % | |||||
| Growth eREIT III | $ | 58,097,974 | Feb 2019 | -3.11 | % | |||||
| Growth eREIT VII | $ | 80,097,099 | Jan 2021 | -3.48 | % | |||||
| Balanced | ||||||||||
| East Coast eREIT | $ | 158,863,672 | Oct 2016 | -12.63 | % | |||||
| Heartland eREIT | $ | 87,812,464 | Oct 2016 | -2.53 | % | |||||
| West Coast eREIT | $ | 84,022,188 | Oct 2016 | 1.25 | % | |||||
| Balanced eREIT II | $ | 51,027,422 | Jan 2021 | -3.26 | % | |||||
1 “Net Total Return” consists of the time-weighted, weighted-average aggregate returns of Fundrise Advisors client accounts that have participated in the indicated investment plan objective during the period indicated, calculated using the Modified Dietz method. The “Other” category includes custom (i.e. client-directed) plans. Net total returns are inclusive of dividends and capital gains / losses, are net of fees, and include shares which were acquired via dividend reinvestment. “NAV distributions” (if any) are considered as part of the appreciation / price return component. Net total returns do not include investments in the Fundrise Opportunity Fund, Innovation Fund, and Opportunistic Credit Fund.
2 “Net Total Return” consists of the time-weighted, weighted-average aggregate returns of Fundrise Advisors client accounts within the funds with the stated fund objective during the period indicated, calculated using the Modified Dietz method. Net total returns are inclusive of dividends and capital gains / losses, are net of fees, and include shares which were acquired via dividend reinvestment. Net total returns do not include investments in the Fundrise Opportunity Fund, Innovation Fund and Opportunistic Credit Fund.
3 “Performance of individual Fundrise sponsored funds” specifically refers to the time-weighted return for the period indicated, calculated using the Modified Dietz method. Returns are inclusive of dividends and capital gains / losses, are net of fees, and include shares which were acquired via dividend reinvestment.
4 “Average AUM” is the daily average invested capital in the indicated program during the period indicated, calculated using the Modified Dietz method. The average capital calculation weights individual cash flows (for example investments or redemptions) by the length of time between those cash flows until the end of the period. Flows which occur towards the beginning of the period have a higher weight than flows occurring towards the end.
