UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 1-U
CURRENT REPORT
Pursuant Regulation A of the Securities Act of 1933
December 30, 2024
(Date of Report (Date of earliest event reported))
FUNDRISE GROWTH EREIT III, LLC
(Exact name of registrant as specified in its charter)
| Delaware | 83-2162909 |
| (State or other jurisdiction of incorporation) | (IRS Employer Identification No.) |
| 11 Dupont Circle NW, 9th Floor, Washington, DC | 20036 |
| (Address of principal executive offices) | (ZIP Code) |
(202) 584-0550
(Registrant’s telephone number, including area code)
Common Shares
(Title of each class of securities issued pursuant to Regulation A)
| Item 9. | Other Events |
Asset Update
Fundrise Growth eREIT III, LLC (the “Company”) was partially paid back from its joint venture equity investment in SW4 JV LP (the “RSE SW4 Controlled Subsidiary”) via the sale of a garden-style multifamily property totaling 226 units located in the Dallas-Fort Worth MSA. The RSE SW4 Controlled Subsidiary continues to own and operate three stabilized garden-style multifamily properties in the Dallas-Fort Worth MSA.
Asset Summary
| Location | Arlington, TX |
| Asset Type | Multifamily |
| Strategy | Value Add |
| Fund Ownership | Fundrise Growth eREIT III, LLC |
Following the asset disposition disclosed above, our approximate portfolio breakdown by asset type and strategy is as follows:
Fund Breakdown by Asset Type
| Category | Approximate Percent |
| Multifamily | 100% |
Fund Breakdown by Strategy
| Category | Approximate Percent |
| Value Add | 100% |
Safe Harbor Statement
This Current Report on Form 1-U contains forward-looking statements within the meaning of the federal securities laws. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in the most recently qualified Offering Statement on Form 1-A filed with the Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in our periodic filings and prospectus supplements filed with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in our filings with the SEC. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
SIGNATURES
Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| FUNDRISE GROWTH EREIT III, LLC | |||
| By: | Fundrise Advisors, LLC | ||
| Its: | Manager | ||
| By: | /s/ Benjamin St. Angelo | ||
| Name: | Benjamin St. Angelo | ||
| Title: | Authorized Person | ||
Date: January 24, 2025
