0002007995-26-000012.txt : 20260428 0002007995-26-000012.hdr.sgml : 20260428 20260428163244 ACCESSION NUMBER: 0002007995-26-000012 CONFORMED SUBMISSION TYPE: 253G2 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20260428 DATE AS OF CHANGE: 20260428 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Arrived Debt Fund, LLC CENTRAL INDEX KEY: 0002007995 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] ORGANIZATION NAME: 05 Real Estate & Construction EIN: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 253G2 SEC ACT: 1933 Act SEC FILE NUMBER: 024-12390 FILM NUMBER: 26908446 BUSINESS ADDRESS: STREET 1: 1700 WESTLAKE AVE N STREET 2: SUITE 200 CITY: SEATTLE STATE: WA ZIP: 98109 BUSINESS PHONE: 8142774833 MAIL ADDRESS: STREET 1: 1 WEST MOUNTAIN STREET STREET 2: SUITE 109 CITY: FAYETTEVILLE STATE: AR ZIP: 72701 253G2 1 arriveddebt_253g2.htm
Filed Pursuant to Rule 253(g)(2)
File No. 024-12390
 
ARRIVED DEBT FUND, LLC
SUPPLEMENT NO. 2 DATED APRIL 28, 2026
TO THE OFFERING CIRCULAR DATED NOVEMBER 25, 2025
 
This document supplements, and should be read in conjunction with, the offering circular of Arrived Debt Fund, LLC (“we”, “our” or “us”), dated November 25, 2025, as previously supplemented, and filed by us with the Securities and Exchange Commission (the “Commission”) (collectively, 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 April 25, 2026; and
  ● Historical NAV Information
 
Net Asset Value as of April 25, 2026
 
As of April 25, 2026, our net asset value (“NAV”) per common share is $10.00. This NAV per common share shall be effective until updated by us on or about July 25, 2026.
 
The following sets forth the calculation of NAV for our common shares:
 
BALANCE SHEETS (UNAUDITED)
 
(In thousands, except share and per share amounts)February 28, 2026 [1]Novemer 30, 2025 [1]
ASSETS  
Cash and cash equivalents$633,539  29,847 
Notes receivable - held to maturity, net 77,703,609 69,736,628
Interest receivables 1,260,792 1,059,791
Other receivables$3,328,243 643,010
Total assets$82,926,184 71,469,276
   
LIABILITIES  
Accrued expenses$87,466 87,775
Due to loan servicers 92,031 237,728
Note payable 8,400,000 6,000,000
Distributions payable - -
Due to related party 453,714 152,691
Total liabilities$9,033,211 6,478,194
   
MEMBERS' EQUITY  
Common shares; 7,532,749 and, 6,621,417 shares outstanding, net of offering costs, on February 28, 2026 and November 30, 2025, respectively$69,008,980 61,413,030
Retained earnings (accumulated deficit) 4,883,993 3,578,051
Total members' equity$73,892,973 64,991,081
Total liabilities and members' equity$82,926,184 71,469,276
   
NET FAIR VALUE ASSETS CONSIST OF:  
Net asset value with members' equity (without fair value adjustments)$73,892,973 64,991,081
Net adjustments to fair value 257,455 224,716
Capitalized up front offering fees  1,147,665 1,029,327
TOTAL NET ASSETS$75,298,092 66,245,123
NET ASSET VALUE PER SHARE, 7,532,749 and, 6,621,417 shares outstanding, net of offering costs, for the period ended February 28, 2026 and November 30, 2025, respectively$10.00 10.00
 
[1] Estimated Balance Sheets as of February 28, 2026 and November 30, 2025.
 
 
 
As described in the section “Description of our Common Shares—Valuation Policies,” in the Offering Circular, our operating agreement provides that, following the initial period, at the end of each quarterly period our Manager’s internal accountants and asset management team will calculate our NAV using a process that reflects, among other matters:
 
 
●
an estimated value of our investments, as determined by the Manager’s asset management team, including related liabilities, based upon (a) information from publicly available sources about (i) market rents, comparable sales information and interest rates and (ii) with respect to debt, default rates and discount rates, and (b) in certain instances reports of the underlying real estate provided by an independent valuation expert or automated valuation models;
 
 
●
the price of liquid assets for which third party market quotes are available;
 
 
●
accruals of our periodic distributions on our common shares; and
 
 
●
estimated accruals of the revenues, fees and expenses where we will (a) amortize the brokerage fee, offering expenses and sourcing fee over five years and (b) include accrued fees and operating expenses, accrued distributions payable, accrued management fees and any inter-company loans extended to the Company by our Manager.
 
Such determinations may include subjective judgments by the Manager regarding the applicability of certain inputs to market rents and comparable sales information. We do not utilize a capitalization rate approach in determining NAV, because given the nature of our investments in primary residences, we do not believe that the value of a many of our assets can be determined based solely on the business activities as the resale value of such asset will be decided independently of the success of such business activities.
 
Note, however, that the determination of our NAV is not based on, nor intended to comply with, fair value standards under U.S. GAAP, and such NAV may not be indicative of the price that we would receive for our assets at current market conditions. As a result, the calculation of our NAV may not reflect the precise amount that might be paid for your common shares in a market transaction, and any potential disparity in our NAV may be in favor of either holders who redeem their common shares, or holders who repurchase such common shares, or existing holders. In instances where we determine that an appraisal of a property is necessary, including, but not limited to, instances where third party market values for comparable properties are either nonexistent or extremely inconsistent, we will engage an appraiser that has expertise in appraising residential real estate assets, to act as our independent valuation expert. The independent valuation expert is not responsible for, nor for preparing, our NAV per share.
 
As there is no market value for our common shares as they are not expected to be listed or traded on any stock exchange, our goal in setting NAV on a quarterly basis is to provide a reasonable estimate of the value of our common shares on a quarterly basis. However, each series property consists of residential real estate and, as with any residential real estate valuation protocol, the conclusions reached by the Manager’s asset management team or internal accountants, as the case may be, 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 investments. In addition, for any given period, our published NAV may not fully reflect certain material events, to the extent that the financial impact of such events on our portfolio is not immediately quantifiable.
 
 
Historical NAV Information
 
Below is the NAV per common share, as determined in accordance with our valuation policies, for each period to date.
 
         
Date   NAV Per Share  
Inception (May 16, 2024)  
$
10.00  
January 25, 2025   $     10.00  
April 25, 2025   $ 10.02  
July 25, 2025   $ 10.01  
October 25, 2025   $ 10.01  
January 25, 2026   $ 10.00  
April 25, 2026       $ 10.00