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Wealth

Fundrise Seeks $500 Million Credit Fund for Real Estate Distress

Chief Executive Officer Ben Miller sees the real estate industry’s “great deleveraging” creating opportunities.

Prospective renters wait to enter an apartment during an open house in the Bedford-Stuyvesant neighborhood of Brooklyn.

Prospective renters wait to enter an apartment during an open house in the Bedford-Stuyvesant neighborhood of Brooklyn.

Photographer: Bess Adler/Bloomberg
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Fundrise, led by Chief Executive Officer Ben Miller, is seeking to raise a $500 million credit fund to take advantage of increasing distress in the US commercial real estate industry.

The fund is the first such offering from Fundrise, which has previously been an active credit investor through its property funds. The firm plans to focus on lending to residential landlords at a time when higher interest rates and heightened scrutiny of real estate exposure has made financing harder to secure.