# EDGAR Filing Document

**Accession Number:** 0001804011
**File Stem:** 0001104659-25-064389
**Filing Date:** 2025-7
**Character Count:** 9723
**Document Hash:** 976df56f1e1d0eb130e764c5ccdb7dbd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-064389.hdr.sgml**: 20250701

**ACCESSION NUMBER**: 0001104659-25-064389

**CONFORMED SUBMISSION TYPE**: 253G2

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250701

**DATE AS OF CHANGE**: 20250701

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FUNDRISE GROWTH EREIT VII, LLC
- **CENTRAL INDEX KEY:** 0001804011
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 844457263
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 253G2
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 024-12362
- **FILM NUMBER:** 251094113

**BUSINESS ADDRESS:**
- **STREET 1:** 11 DUPONT CIRCLE NW
- **STREET 2:** 9TH FLOOR
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20036
- **BUSINESS PHONE:** 202-584-0550

**MAIL ADDRESS:**
- **STREET 1:** 11 DUPONT CIRCLE NW
- **STREET 2:** 9TH FLOOR
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20036

**Filed Pursuant to Rule 253(g)(2)<br> File No. 024-12362**

**FUNDRISE GROWTH EREIT VII, LLC**

**SUPPLEMENT NO. 8 DATED JULY 1, 2025<br> TO THE OFFERING CIRCULAR DATED NOVEMBER 21, 2024**

This document supplements, and should be read in conjunction with, the offering circular of Fundrise Growth eREIT VII, LLC ("we", "our" or "us"), dated November 21, 2024 and filed by us with the Securities and Exchange Commission (the "Commission") on November 21, 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 June 30, 2025;

● Share Redemption Plan Status;

● Historical NAV Information;

● Real Estate Performance; and

● Declaration of Dividend.

***Net Asset Value as of June 30, 2025***

As of June 30, 2025, our net asset value ("NAV") per common share is $10.14. 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)**

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| | | |
|:---|:---|:---|
| **(In thousands, except share and per share amounts)** | **As of**<br>**June 30, 2025<br> [1]** | **As of**<br>**March 31, 2025<br> [1]** |
| **<u>ASSETS</u>** |  |  |
| Investments, at fair value | $75330 | $75376 |
| Cash and cash equivalents | 3213 | 3491 |
| Other assets | 10 | 21 |
| **Total Assets** | $**78553** | $**78888** |
| **<u>LIABILITIES</u>** |  |  |
| Accounts payable and accrued expense | $105 | $144 |
| Due to related party | 110 | 115 |
| Note payable - related party | 5666 | 2717 |
| Dividends payable | 37 | 35 |
| Settling subscriptions | 10 | 8 |
| **Total Liabilities** | $**5928** | $**3019** |
| **<u>NET ASSETS CONSIST OF:</u>** |  |  |
| Fundrise Growth eREIT VII, LLC Members' Equity: |  |  |
| Common shares; 7,160,261 and 7,479,468 shares outstanding, net of offering costs, on June 30, 2025 and March 31, 2025, respectively | $74038 | $77291 |
| Retained earnings (Accumulated deficit) | (19694) | (19471) |
| Net adjustments to fair value | 18281 | 18049 |
| **NET ASSETS** | $**72625** | $**75869** |
| **NET ASSET VALUE PER SHARE, on 7,160,261 and 7,479,468 shares outstanding, net of offering costs, on June 30, 2025 and March 31, 2025, respectively** | $**10.14** | $**10.14** |

---

**[1]** Estimated Balance Sheets as of June 30, 2025 and March 31, 2025.

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, 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 July 1, 2025, the per share purchase price of our Common Shares will be $10.14 per share, as the per share purchase price shall be equal to the then-current NAV per common share. 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***

 ****

For the quarter ended June 30, 2025, we expect to redeem approximately 317,000 common shares pursuant to our share redemption plan.

 **

***Historical NAV Information***

 **

Below is the NAV per common share, as determined in accordance with our valuation policies, for each period presented from June 30, 2021 to June 30, 2025.

---

| | |
|:---|:---|
| **Date** | **NAV Per Share** |
| &nbsp;&nbsp;June 30, 2021 | $10.23 |
| &nbsp;&nbsp;September 30, 2021 | $10.65 |
| &nbsp;&nbsp;December 31, 2021 | $11.20 |
| &nbsp;&nbsp;March 31, 2022 | $11.74 |
| &nbsp;&nbsp;June 30, 2022 | $12.51 |
| &nbsp;&nbsp;September 30, 2022 | $11.60 |
| &nbsp;&nbsp;December 31, 2022 | $10.66 |
| &nbsp;&nbsp;March 31, 2023 | $10.79 |
| &nbsp;&nbsp;June 30, 2023 | $10.41 |
| &nbsp;&nbsp;September 30, 2023 | $10.04 |
| &nbsp;&nbsp;December 12, 2023 | $9.50 |
| &nbsp;&nbsp;December 30, 2023 | $9.31 |
| &nbsp;&nbsp;March 29, 2024 | $9.50 |
| &nbsp;&nbsp;June 29, 2024 | $9.82 |
| &nbsp;&nbsp;September 30, 2024 | $9.93 |
| &nbsp;&nbsp;December 31, 2024 | $10.11 |
| &nbsp;&nbsp;March 31, 2025 | $10.14 |
| &nbsp;&nbsp;June 30, 2025 | $10.14 |

---

 ****

***Real Estate Performance***

The Company's NAV was relatively flat as the majority of the Company's assets continue to progress through their respective business plans.

The Company's build-for-rent assets generally continue to exhibit strong fundamentals in terms of occupancy and continued expense reduction initiatives. We remain confident in the stability of the Company's portfolio and its long-term return potential.

***Declaration of Dividend***

On July 1, 2025, the Manager of the Company declared a daily distribution of $0.0000684930 per share (the "July 2025 Daily Distribution Amount") (which equates to approximately 0.25% on an annualized basis calculated at the current rate, assuming a $10.14 per share purchase price) for shareholders of record as of the close of business on each day of the period commencing on July 1, 2025 and ending on July 31, 2025 (the "July 2025 Distribution Period"). The distributions will be payable to shareholders of record as of the close of business on each day of the July 2025 Distribution Period and the distributions are scheduled to be paid prior to October 21, 2025. While the Company's Manager is under no obligation to do so, the annualized basis return assumes that the Manager will declare distributions in the future similar to the distributions disclosed herein.