SEC Comment Letter 0000000000-26-001827 to Wahed Real Estate Series 1 LLC (CIK 0002033610)
Wahed Real Estate Series 1 LLC (CIK 0002033610)
Date: Feb. 23, 2026 · CIK: 0002033610 · Accession: 0000000000-26-001827
AI Filing Summary & Sentiment
File numbers found in text: 024-12496
Letter
February 23, 2026 Ahmar Shaikh Chief Executive Officer of Wahed Financial LLC Wahed Real Estate Series 1 LLC 27 East 28th Street, 8th Floor New York, NY 10016 Re:Wahed Real Estate Series 1 LLC Post-Qualification Amendment No. 3 to Offering Statement on Form 1-A Filed February 9, 2026 File No. 024-12496 Dear Ahmar Shaikh: We have reviewed your amendment and have the following comment. Please respond to this letter by amending your offering statement and providing the requested information. If you do not believe a comment applies to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your offering statement and the information you provide in response to this letter, we may have additional comments. Post-Qualification Amendment No. 3 filed February 9, 2026 General 1.Please provide us with your analysis whether Rule 3-14 financial statements are required for the Lure Lane property, including the Rule 3-14 significance test for such property. In this regard, we note that prior to Wahed Financial's acquisition of the Lure Lane property in January 2026, it was rented in September 2025 for a monthly rent of $3,769. Thus, it appears your acquisition of the Lure Lane property may constitute the acquisition of a real estate operation. It also appears the Lure Lane property would be a significant acquisition based on the property's purchase price of $505,000 and your total assets as of December 31, 2024. Refer to paragraph (c) of Part F/S of Form 1-A and Rules 8-06 and 3-14 of Regulation S-X. We will consider qualifying your offering statement at your request. If a participant in your offering is required to clear its compensation arrangements with FINRA, please have FINRA advise us that it has no objections to the compensation arrangements prior to qualification.
February 23, 2026 Page 2 We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Benjamin Holt at 202-551-6614 or Pam Howell at 202-551-3357 with any questions. Sincerely, Division of Corporation Finance Office of Real Estate & Construction cc:Heidi Mortensen
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February 23, 2026
Ahmar Shaikh
Chief Executive Officer of Wahed Financial LLC
Wahed Real Estate Series 1 LLC
27 East 28th Street, 8th Floor
New York, NY 10016
Re:Wahed Real Estate Series 1 LLC
Post-Qualification Amendment No. 3 to Offering Statement on Form 1-A
Filed February 9, 2026
File No. 024-12496
Dear Ahmar Shaikh:
We have reviewed your amendment and have the following comment.
Please respond to this letter by amending your offering statement and providing the
requested information. If you do not believe a comment applies to your facts and circumstances
or do not believe an amendment is appropriate, please tell us why in your response. After
reviewing any amendment to your offering statement and the information you provide in
response to this letter, we may have additional comments.
Post-Qualification Amendment No. 3 filed February 9, 2026
General
1.Please provide us with your analysis whether Rule 3-14 financial statements are required
for the Lure Lane property, including the Rule 3-14 significance test for such property. In
this regard, we note that prior to Wahed Financial's acquisition of the Lure Lane property
in January 2026, it was rented in September 2025 for a monthly rent of $3,769. Thus, it
appears your acquisition of the Lure Lane property may constitute the acquisition of a
real estate operation. It also appears the Lure Lane property would be a significant
acquisition based on the property's purchase price of $505,000 and your total assets as of
December 31, 2024. Refer to paragraph (c) of Part F/S of Form 1-A and Rules 8-06 and
3-14 of Regulation S-X.
We will consider qualifying your offering statement at your request. If a participant in
your offering is required to clear its compensation arrangements with FINRA, please have
FINRA advise us that it has no objections to the compensation arrangements prior to
qualification.
February 23, 2026
Page 2
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
Please contact Benjamin Holt at 202-551-6614 or Pam Howell at 202-551-3357 with any
questions.
Sincerely,
Division of Corporation Finance
Office of Real Estate & Construction
cc:Heidi Mortensen