Fundrise East Coast Opportunistic REIT LLC

10/01/2025 | Press release | Distributed by Public on 10/01/2025 08:25

Securities Offering by Private Issuer (Form 253G2)

Filed Pursuant to Rule 253(g)(2)
File No. 024-12398

Fundrise East Coast Opportunistic REIT, LLC

SUPPLEMENT NO. 11 DATED October 1, 2025
TO THE OFFERING CIRCULAR DATED October 17, 2024

This document supplements, and should be read in conjunction with, the offering circular of Fundrise East Coast Opportunistic REIT, LLC ("we", "our" or "us"), dated October 17, 2024 and filed by us with the Securities and Exchange Commission (the "Commission") on October 17, 2024 (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:

· Our Net Asset Value ("NAV") Per Share as of September 30, 2025;
· Share Redemption Plan Status;
· Historical NAV Information; and
· Real Estate Performance.

Net Asset Value as of September 30, 2025

As of September 30, 2025, our NAV per common share is $10.64. This NAV per common share shall be effective until updated by us on or about December 31, 2025 (or as soon as commercially reasonable thereafter), unless updated by us prior to that time.

The following sets forth the calculation of NAV for our common shares:

BALANCE SHEETS (UNAUDITED)

As of As of
(In thousands, except share and per share amounts) September 30, 2025
[1]
June 30, 2025
[1]
ASSETS
Investments, at fair value $ 127,846 $ 131,727
Cash and cash equivalents 6,220 5,992
Other assets 4,376 13,395
Total Assets $ 138,442 $ 151,114
LIABILITIES
Accounts payable $ 1,380 $ 1,030
Due to related party 8,730 211
Note payable - related party 48,149 62,931
Dividends payable - 14
Settling subscriptions - 3
Total Liabilities $ 58,259 $ 64,189
NET ASSETS CONSIST OF:
Fundrise East Coast Opportunistic REIT, LLC Members' Equity:
Common shares; 7,535,317 and 7,946,469 shares outstanding, net of offering costs, on September 30, 2025 and June 30, 2025, respectively [2] $ 75,906 $ 80,352
Accumulated deficit and cumulative distributions [2] (20,012 ) (29,287 )
Net adjustments to fair value 24,289 35,860
NET ASSETS $ 80,183 $ 86,925
NET ASSET VALUE PER SHARE, on 7,535,317 and 7,946,469 shares outstanding for the periods ended September 30, 2025 and June 30, 2025, respectively $ 10.64 $ 10.94

[1] Estimated Balance Sheets as of September 30, 2025 and June 30, 2025.

[2] Cumulative distributions have been reclassified from "Common shares" to "Retained earnings" to align with our financial reporting presentation. This adjustment is presentational only and does not affect our NAV per share.

As described in the section titled "Valuation Policies" of our Offering Circular, our goal is to provide a reasonable estimate of the value of our shares on a periodic, ongoing basis. However, the majority of our assets consist of commercial real estate assets and, as with any commercial real estate valuation methodology, the conclusions reached by us are based on a number of judgments, assumptions and opinions about future events that may or may not prove to be correct. The use of different judgments, assumptions or opinions would likely result in different estimates of the value of our commercial real estate assets and investments. In addition, for any given quarter, our published NAV per share may not fully reflect certain material events, to the extent that the financial impact of such events on our portfolio is not immediately quantifiable. As a result, the quarterly calculation of our NAV per share may not reflect the precise amount that might be paid for your shares in an arm's length transaction with an unrelated third party, and any potential disparity in our NAV per share may be in favor of either shareholders who redeem their shares, or shareholders who buy new shares, or existing shareholders. However, to the extent quantifiable, if a material event occurs in between quarterly updates of NAV that would cause our NAV per share to change by 5% or more from the last disclosed NAV, we will disclose the updated price and the reason for the change in an offering circular supplement filed on the SEC's EDGAR website as promptly as reasonably practicable, and will update the NAV information provided on our website.

Our internal accountants calculated our NAV per common share using a process that reflects (1) estimated values of each of our commercial real estate assets and investments, including related liabilities, which may be updated upon the occurrence of certain material events, (2) the price of liquid assets for which third party market quotes are available, (3) accruals of our periodic distributions, and (4) estimated accruals of our operating revenues and expenses. The determination of our NAV is not based on, nor intended to comply with, fair value standards under U.S. Generally Accepted Accounting Principles ("GAAP"), and our NAV may not be indicative of the price that we would receive for our assets at current market conditions.

We generally receive financial and other reporting from our borrowers or subsidiaries on a monthly or quarterly basis, so the estimated values of each of our commercial real estate assets and investments included on each NAV reporting date are generally based on the latest financial and other information reported to us or otherwise available to us and considers relevant market data. We are not aware of any events that would have a material impact on the estimated values included herein that occurred between the date of the latest information we received with respect to our investments and the NAV reporting date.

Beginning on October 1, 2025, the per share purchase price of our Common Shares will be $10.64 per share, as the per share purchase price shall be the greater of the then-current NAV per common share or $10.00. This price per share shall be effective until the next announcement of price per share by the Company, which is expected to happen within a commercially reasonable time after December 31, 2025, unless updated by us prior to that time. Redemptions of Common Shares shall be made pursuant to our redemption plan based on the then-current NAV per Common Share.

Share Redemption Plan Status

In advance of a proposed merger involving the Company, the Company's redemption plan is currently temporarily suspended and the Company is not currently processing redemption requests.

Historical NAV Information

Below is the NAV per common share, as determined in accordance with our valuation policies, for each period presented from December 31, 2017 to September 30, 2025.

Date NAV Per Share
December 31, 2017 $ 10.18
March 31, 2018 $ 10.26
June 30, 2018 $ 10.51
September 30, 2018 $ 10.65
December 31, 2018 $ 10.65
March 31, 2019 $ 10.82
June 30, 2019 $ 10.87
October 1, 2019 $ 10.91
December 31, 2019 $ 11.31
March 31, 2020 $ 11.24
June 30, 2020 $ 11.51
September 30, 2020 $ 11.66
December 31, 2020 $ 11.96
March 31, 2021 $ 12.05
June 30, 2021 $ 12.68
September 30, 2021 $ 13.68
December 31, 2021 $ 14.04
March, 31, 2022 $ 14.19
June 30, 2022 $ 15.33
September 30, 2022 $ 15.16
December 31, 2022 $ 14.74
March 31, 2023 $ 14.82
June 30, 2023 $ 14.61
September 30, 2023 $ 12.76
December 30, 2023 $ 11.74
March 29, 2024 $ 11.58
June 29, 2024 $ 11.46
September 30, 2024 $ 11.09
December 31, 2024 $ 10.93
March 31, 2025 $ 10.86
June 30, 2025 $ 10.94
September 30, 2025 $ 10.64

Real Estate Performance

The Company experienced a decrease in NAV driven primarily by carrying costs associated with vacant properties in the portfolio, including the Hagerstown Crossroads Property. The decrease was slightly offset by an increase in the value of some of the Company's industrial assets.

We believe the impacts of near-term higher borrowing costs are temporary, and we remain confident in the stability of the Company's portfolio and its long-term potential to generate value as we continue to execute on our leasing plan.

Fundrise East Coast Opportunistic REIT LLC published this content on October 01, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on October 01, 2025 at 14:25 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]