The Income Real Estate Fund has initiated a position (bought securities) in Annaly Capital Management, a publicly-traded mortgage REIT, bringing the total portfolio cost-basis to approximately $15 million in invested principal as of July 31, 2023. (Note: Invested principal does not include any mark-ups or write-downs as a result of market changes.)
The Income Real Estate Fund began purchasing publicly-traded mortgage REITs in July, and we plan to continue to manage this portfolio on an ongoing basis as long as the current dynamic of pricing dislocation in public markets exists. We believe this period of exceptionally attractive pricing to be temporary, which presents us with attractive investment opportunities. We intend to focus on selective publicly-traded REITs issued by the most creditworthy mortgage financing groups and where the collateral (i.e., a portfolio of agency mortgage-backed securities, residential credit, and mortgage servicing rights) consists of high-quality residential mortgages in strong locations that we might otherwise be buyers and owners of in our other funds over the long-term.
See the table below for a detailed breakdown of the fund’s public equity holdings as of July 31, 2023.
For more information about our public equity investment strategy, please refer to this page.
Additional Information: An investor in the Fundrise Income Real Estate Fund (the “Fund”) should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The Fund’s prospectus contains this and other information about the Fund and may be obtained here. Investors should read the prospectus carefully before investing.
