The prospectus states the Fund seeks current income and, secondarily, long-term capital appreciation with low to moderate volatility and low correlation to broader markets. It invests in private commercial real estate, mainly through co-investment joint ventures with affiliated Fundrise vehicles, and may hold publicly traded real estate securities. At 6/30/2026 holdings were mostly single-family, multifamily and industrial joint ventures, plus technology-linked holdings. It is a non-diversified fund taxed as a REIT.