Real Estate · First wave

Real Estate

Fractional and non-traded REIT-style real estate: Reg A flow from the serial issuers, housing and rate benchmarks, NAV and redemption behavior.

Open offerings

4417

of 4822 published in this category

Live series

9

latest print 2026-10-31

Fundrise NAV Index

120.8

Monthly · 2026-09-30

Opportunities · Pro

Open offerings and new filings

Flow · Pro

How much capital is forming, and how fast

Reg A filings from the real estate issuer families (Arrived, Fundrise, Groundfloor, RealtyMogul, Concreit, Streitwise, Landa, Cityfunds), carried in the Regulation A flow series' per-family breakdown; a per-category series is next.

Price

What the category's market is doing

Sponsor NAV indexes per family (Fundrise, Arrived, Concreit, RealtyMogul, Roots) chain-linked from their filings, beside Case-Shiller, FHFA, the Freddie Mac 30-year rate and Zillow rents via FRED and Zillow; NAREIT implied cap rates are cited.
S&P CoreLogic Case-Shiller U.S. National Home Price Index
Monthly · index level · Public API

337.3

2026-07-01 · +0.2% vs prior print

Source: S&P Dow Jones Indices via FRED (CSUSHPINSA) · link · attribution required · CSV

FRED data is free to use with attribution to the source and to FRED, Federal Reserve Bank of St. Louis. Displayed as a chart with a source line; not redistributed as a data feed.

METHODOLOGY

Monthly, not seasonally adjusted, January 2000 = 100. Published with a two-month lag. The national benchmark the fractional single-family platforms' appreciation claims are read against. Source: S&P Dow Jones Indices LLC, retrieved from FRED, Federal Reserve Bank of St. Louis.

FHFA Purchase-Only House Price Index
Monthly · index level · Public API

443.5

2026-07-01 · +0.3% vs prior print

Source: U.S. Federal Housing Finance Agency via FRED (HPIPONM226S) · link · attribution required · CSV

FRED data is free to use with attribution to the source and to FRED, Federal Reserve Bank of St. Louis. Displayed as a chart with a source line; not redistributed as a data feed.

METHODOLOGY

Monthly, seasonally adjusted, January 1991 = 100, built from repeat sales of homes with conforming mortgages. Narrower than Case-Shiller (conforming only) but timelier. Source: FHFA, retrieved from FRED, Federal Reserve Bank of St. Louis.

30-Year Fixed Mortgage Rate (Freddie Mac PMMS)
Weekly · percent · Public API

7.40%

2026-10-15 · +0.0 pts vs prior print

Source: Freddie Mac Primary Mortgage Market Survey via FRED (MORTGAGE30US) · link · attribution required · CSV

FRED data is free to use with attribution to the source and to FRED, Federal Reserve Bank of St. Louis. Displayed as a chart with a source line; not redistributed as a data feed.

METHODOLOGY

Weekly average contract rate on 30-year fixed conforming mortgages, in percent, from Freddie Mac's Primary Mortgage Market Survey. The financing cost behind the housing series and the levered real estate platforms. Source: Freddie Mac, retrieved from FRED, Federal Reserve Bank of St. Louis.

Arrived NAV Index
Quarterly · index level · AltStreet derived

100.2

2026-07-31 · +0.0% vs prior print

Vehicles observed, 2026-07

Vehicle CIKNAVPrior NAVPrior month
0001982615$10.01$10.012026-04
0002007995$10$102026-04
0002065598$10$10.052026-04

Month change 0% · 12-month change -0.3%. A valuation, not a return.

Source: Sponsor filings (253G2, 1-K, 1-SA) via AltStreet platform_performance_history · CSV

METHODOLOGY

Sponsor-reported net asset value per share for Arrived, chain-linked across the family's vehicles and rebased to 100 at the first observed month, with the count of vehicles observed that month as the secondary value. Each month's change is the median month-over-month NAV ratio across vehicles observed in both that month and their previous observation, so vehicles can enter and leave without breaking the series. Observations come from 253G2 offering supplements, 1-K and 1-SA reports ingested by AltStreet's Reg A lane. This is a valuation, not a trade or an investor return: it ignores distributions, entry and exit fees, and whether redemptions are honored at this NAV. Early months rest on few vehicles and annual or semiannual reports; later months on monthly supplements. Raw carries every vehicle's NAV, the month change, the 12-month change and, where reported, the median distribution yield.

Concreit NAV Index
Monthly · index level · AltStreet derived

105.5

2026-10-31 · +0.0% vs prior print

Vehicles observed, 2026-10

Vehicle CIKNAVPrior NAVPrior month
0001781324$0.96$0.962026-09

Month change 0% · 12-month change 0%. A valuation, not a return.

Source: Sponsor filings (253G2, 1-K, 1-SA) via AltStreet platform_performance_history · CSV

METHODOLOGY

Sponsor-reported net asset value per share for Concreit, chain-linked across the family's vehicles and rebased to 100 at the first observed month, with the count of vehicles observed that month as the secondary value. Each month's change is the median month-over-month NAV ratio across vehicles observed in both that month and their previous observation, so vehicles can enter and leave without breaking the series. Observations come from 253G2 offering supplements, 1-K and 1-SA reports ingested by AltStreet's Reg A lane. This is a valuation, not a trade or an investor return: it ignores distributions, entry and exit fees, and whether redemptions are honored at this NAV. Early months rest on few vehicles and annual or semiannual reports; later months on monthly supplements. Raw carries every vehicle's NAV, the month change, the 12-month change and, where reported, the median distribution yield.

Fundrise NAV Index
Monthly · index level · AltStreet derived

120.8

2026-09-30 · +1.9% vs prior print

Vehicles observed, 2026-09

Vehicle CIKNAVPrior NAVPrior month
0001804011$8.26$8.232026-06
0001803986$9.27$9.12026-06

Month change 1.9% · 12-month change -2.8% · median distribution yield 0.3%. A valuation, not a return.

Source: Sponsor filings (253G2, 1-K, 1-SA) via AltStreet platform_performance_history · CSV

METHODOLOGY

Sponsor-reported net asset value per share for Fundrise, chain-linked across the family's vehicles and rebased to 100 at the first observed month, with the count of vehicles observed that month as the secondary value. Each month's change is the median month-over-month NAV ratio across vehicles observed in both that month and their previous observation, so vehicles can enter and leave without breaking the series. Observations come from 253G2 offering supplements, 1-K and 1-SA reports ingested by AltStreet's Reg A lane. This is a valuation, not a trade or an investor return: it ignores distributions, entry and exit fees, and whether redemptions are honored at this NAV. Early months rest on few vehicles and annual or semiannual reports; later months on monthly supplements. Raw carries every vehicle's NAV, the month change, the 12-month change and, where reported, the median distribution yield.

RealtyMogul NAV Index
Quarterly · index level · AltStreet derived

87.1

2026-06-30 · -7.1% vs prior print

Vehicles observed, 2026-06

Vehicle CIKNAVPrior NAVPrior month
0001699573$6.36$6.852026-03

Month change -7.2% · 12-month change -17%. A valuation, not a return.

Source: Sponsor filings (253G2, 1-K, 1-SA) via AltStreet platform_performance_history · CSV

METHODOLOGY

Sponsor-reported net asset value per share for RealtyMogul, chain-linked across the family's vehicles and rebased to 100 at the first observed month, with the count of vehicles observed that month as the secondary value. Each month's change is the median month-over-month NAV ratio across vehicles observed in both that month and their previous observation, so vehicles can enter and leave without breaking the series. Observations come from 253G2 offering supplements, 1-K and 1-SA reports ingested by AltStreet's Reg A lane. This is a valuation, not a trade or an investor return: it ignores distributions, entry and exit fees, and whether redemptions are honored at this NAV. Early months rest on few vehicles and annual or semiannual reports; later months on monthly supplements. Raw carries every vehicle's NAV, the month change, the 12-month change and, where reported, the median distribution yield.

Roots NAV Index
Quarterly · index level · AltStreet derived

144.8

2026-10-31 · +2.5% vs prior print

Vehicles observed, 2026-10

Vehicle CIKNAVPrior NAVPrior month
0001866803$159.25$155.32026-07

Month change 2.5% · 12-month change 8%. A valuation, not a return.

Source: Sponsor filings (253G2, 1-K, 1-SA) via AltStreet platform_performance_history · CSV

METHODOLOGY

Sponsor-reported net asset value per share for Roots, chain-linked across the family's vehicles and rebased to 100 at the first observed month, with the count of vehicles observed that month as the secondary value. Each month's change is the median month-over-month NAV ratio across vehicles observed in both that month and their previous observation, so vehicles can enter and leave without breaking the series. Observations come from 253G2 offering supplements, 1-K and 1-SA reports ingested by AltStreet's Reg A lane. This is a valuation, not a trade or an investor return: it ignores distributions, entry and exit fees, and whether redemptions are honored at this NAV. Early months rest on few vehicles and annual or semiannual reports; later months on monthly supplements. Raw carries every vehicle's NAV, the month change, the 12-month change and, where reported, the median distribution yield.

Zillow Observed Rent Index (US)
Monthly · USD per month · Public API

$1,932/mo

2026-09-30 · +0.1% vs prior print

Source: Zillow Research ZORI, smoothed, all homes (United States row) · link · attribution required · CSV

Zillow Research data is free to use with attribution to Zillow. Displayed as a chart with a source line.

METHODOLOGY

Typical asked rent in US dollars per month across the national single-family, condo and multifamily listing universe, smoothed and seasonally adjusted, from Zillow's public research CSV. The rent side of the single-family rental platforms' yield math. Source: Zillow.

Outcome

What investors got versus what was promised

Realized IRR and loss rates on disposed properties against the targets published offerings advertised; NAV per share by platform from 1-K, 1-SA and 253G2 supplements. Redemption fulfillment is collected but not yet populated.

Promised vs realized

Two populations: targets on published offerings, realized figures on exits with a disclosed outcome. Read side by side, never as one number.

Promised (median target)

10.5%

4,340 offerings with a stated target

Realized (median IRR)

14.4%

274 exits with a realized IRR

Middle half 6.5% to 23.5% · 21% negative · targets: middle half 10.0% to 12.0%

Realized outcomes
MeasureValuen
Median multiple on cost1.40x270
Median hold3 yrsn/a
Exits recorded as a loss24%319
Latest exit2026-09-01n/a
By platform (exits with an outcome)
PlatformExitsMedian IRRMedian multipleLoss rate
CrowdStreet21616.3%1.54x23%
EquityMultiple5811.7%1.17x16%
Roots20n/a1.10x0%
Landa18n/an/a89%
DiversyFund2n/an/a50%
Small Change2n/an/a0%
CalTier2n/an/a50%
Streitwise1n/an/a0%

Source: AltStreet platform_exits (filing-sourced dispositions, 1-K asset sales and platform-reported exits) and published offering terms. Realized figures cover exits with a disclosed outcome, which over-represents platforms that disclose; a loss rate counts exits recorded as a loss over exits with any recorded type.

Fee stack

8 offerings with itemized fee layers from their filings. Median rate per fee type; the n is offerings carrying that type.

Fee layers by type
FeeOfferingsMedian rateCharged
management81%annual
sourcing73.5%on acquisition
disposition76%on exit
property management68%monthly

Rates are as stated in the offering document and are not on a common base: an acquisition fee is a one-time percent of purchase price, a management fee an annual percent of assets or equity, a performance fee a percent of profits. Source: AltStreet deal_fee_layers.

NAV per share

Latest reported net asset value per share by platform (median across its vehicles) and the 12-month change. From 1-K, 1-SA, 253G2 supplements and 10-Q filings.

Platforms reporting NAV
PlatformVehiclesLatest NAVAs of12-month change
Fundrise12$10.182026-09-30-3.5%
Arrived4$102026-07-25-0.2%
RealtyMogul2$7.492026-06-30-9.1%
Cardone Capital2$2,093.772025-06-30n/a (0 with history)
Concreit1$0.962026-10-010%
Streitwise1$6.962026-06-30n/a (0 with history)
Roots1$159.252026-10-10+8%

NAV is the sponsor's own valuation, not a trade; a stable NAV says nothing about whether redemptions are being met. Redemption request and fulfillment fields are collected but not yet populated, so gating is not observable here yet.

Cited headlines

Licensed and headline-only sources

Cited with a source line; never ingested or charted.
  • Nareit T-TrackerImplied cap rates, quarterly · source
  • TreppCMBS delinquency rate (licensed; headline only)