Fractional Real Estate Platforms with Frozen Withdrawals: Live Tracker
Six of the 36 fractional real estate platforms on the Threeworld registry have stopped paying investors out, and two more have paused or restricted withdrawals while they keep operating. RealT is in voluntary liquidation, Landa has been dark since April 2025, Reinvest24 and Rendity are winding down in Europe, and Fintor and HoneyBricks closed quietly. The table below is the registry's platform-health record: every platform with a wind-down, closure or withdrawal event on file, the date it started, what happened and the source, updated whenever the registry changes. This page explains how each one got there, what the pattern looks like before a freeze, and what to do if you are inside one.
| Platform | State | Since | What happened | Source |
|---|---|---|---|---|
| RealT | In liquidation | July 2, 2026 | RealT announced a voluntary liquidation on 2 July 2026. A court-approved fiduciary has run its Detroit portfolio since April 2026 and rent payouts largely stopped in late 2025. Nothing here is open to new investment. Existing holders should follow the liquidation through RealT directly. | Michigan Public, 2 May 2026 |
| Rendity | Closed | February 16, 2026 | Rendity told investors on 16 February 2026 that it is ending operations and liquidating the company, having placed no new projects since April 2024. Existing loans and PropShares are contracts with each project company, so repayment now depends on those companies, several of which are in insolvency. The website now returns an unavailable page. | Trending Topics, 16 February 2026 |
| Reinvest24 | In liquidation | September 10, 2025 | Reinvest24 says it is in a wind-down phase and no longer accepts or funds new projects. It is trying to close out existing projects and warns that when and how much money comes back depends on legal and recovery proceedings. Nothing new can be bought. | Reinvest24 properties page |
| Landa | Closed | April 5, 2025 | Landa's app and investor portal went down in April 2025 and have not reopened, with deposits, trading and new offerings paused and dividends unpaid for many investors since January 2025. Its lenders sued over more than $35 million in defaulted loans and had an independent manager installed, and the series are now selling homes or losing them to foreclosure with most proceeds going to liabilities. You cannot invest or withdraw through Landa. | TechCrunch, 23 May 2025 |
| HoneyBricks | Closed | April 2, 2024 | EquityMultiple acquired HoneyBricks on 2 April 2024 and now manages all HoneyBricks investments. The HoneyBricks site sends new investors to EquityMultiple, its app host no longer responds and no new HoneyBricks offerings are listed. Existing investors are serviced by EquityMultiple. | HoneyBricks homepage notice |
| Fintor | Closed | December 1, 2023 | Fintor Assets LLC asked the SEC to withdraw its Regulation A offering on 1 December 2023, saying continuing was not in its best interest and that no units had been sold under it. Fintor Inc now sells AI agents to mortgage lenders and its site no longer mentions property investing. There is nothing to invest in here. | Fintor Assets LLC Form 1-A-W withdrawal letter (SEC) |
| Fundrise | Operating, incident on record | April 29, 2026 | Seven legacy vehicles became one company, Fundrise eREIT, LLC, with a quarterly redemption plan that its manager may limit or suspend at its discretion. Holders who wanted out had waited about seven months. | Fundrise eREIT, LLC quarterly report (SEC, 10-Q for 31 March 2026) |
| Strata | Operating, incident on record | May 14, 2025 | SEBI accepted Strata's surrender of its Small and Medium REIT registration after reviewing legal proceedings involving a promoter. It told investors to exercise caution and barred the company from presenting itself as SEBI-regulated. Strata had launched no scheme and keeps selling SPV stakes outside the framework. | SEBI press release, 14 May 2025 (copy hosted by Axis Trustee) |
Table of contents
How to Read the Table
Each row is a platform on the Threeworld registry that carries either a status or an incident. A status means the platform itself has stopped: liquidating is a company selling its assets to pay creditors and, if anything is left, investors, and closed is a platform that no longer takes money or pays it out. An incident is a dated event on an operating platform, such as a redemption pause that later lifted. Operating, incident on record means the platform is open today and the event is history you should know about. The Since column is the date the status began or the latest incident happened, and the Source column links the filing, regulator notice or news report the registry relies on. Nothing here comes from a forum post. If a platform you use is missing, it is either not on the registry or has no event on record, which is not the same as a clean bill of health, and the section on warning signs is where to look. The table updates whenever the registry does, and the caption shows the latest date any row was checked. Each platform page carries the full incident log.
The Liquidations: RealT, Reinvest24 and Rendity
RealT is the largest failure in tokenized real estate to date. The Miami company tokenized more than 700 rental homes, most of them in Detroit, and raised around $140 million. Rent payments largely stopped in late 2025, the City of Detroit sued over 408 properties, a court put an outside fiduciary in charge of the portfolio on 22 April 2026, and on 2 July 2026 the founders announced a voluntary liquidation. The tokens still move between wallets, but what moves is a membership interest in an LLC whose houses are being sold to pay the city first. The full account is in what happened to RealT. Reinvest24, the Estonian platform that sold claim units in property loans, told investors on 10 September 2025 that it was in a wind-down phase and would fund no new projects. It says it is closing out existing projects and that when and how much money comes back depends on legal and recovery proceedings. Rendity, in Vienna, stopped placing new projects in April 2024 and told investors on 16 February 2026 that it was ending operations and liquidating the company. Its PropShares and older loans are contracts with each project company, several of which are in insolvency, so repayment now depends on those companies one by one. The website returns an unavailable page.
The Closures: Landa, Fintor and HoneyBricks
Landa sold $5 shares in US rental homes through an app that put the minimum lower than any other platform. Dividends stopped for many series in January 2025, the app and investor portal went down on 5 April 2025 and never came back, and in May 2025 its lenders sued over more than $35 million in defaulted loans and had an independent manager installed. The series are now selling homes or losing them to foreclosure, with most proceeds going to liabilities. What happened to Landa has the timeline and the Landa alternatives guide covers where its investors have gone. Fintor, a Cupertino app that also sold $5 shares, asked the SEC to withdraw its Regulation A offering on 1 December 2023, saying no units had been sold under it. The company now sells AI agents to mortgage lenders. It belongs on this list because its site, app store listing and press coverage still describe a property investing product that does not exist. HoneyBricks, which sold tokenized multifamily equity to accredited investors from $5,000, was acquired by EquityMultiple on 2 April 2024. Existing investors are serviced by EquityMultiple and no new HoneyBricks offerings are listed. That is an orderly exit rather than a failure, and it is here because a closed platform with a live website is the kind of thing this page exists to flag.
Paused, Not Closed: Fundrise, Cityfunds and Strata
Three platforms are open today and have restricted an exit at some point, which is the category most likely to grow. Fundrise suspended redemptions on its legacy eREITs from 1 October 2025, according to the offering circular supplement it filed with the SEC in December 2025, while it merged them into a single Fundrise eREIT, LLC. Its April 2026 quarterly report says the merger completed and redemptions reopened on 29 April 2026. The main Flagship, Income and Innovation funds kept their quarterly repurchase offers throughout. It is the clearest example of a platform using the pause rights every redemption program carries, and the reason the liquidity guide tells you to read those rights before you need them. Cityfunds, the Dallas platform pooling home equity stakes by city, paused new investment in 2025 and restructured each city series into partnership interests in a nationwide home equity fund in May 2025. Its PPEX secondary market exists on paper, with orders executing only when a buyer and seller match and net asset values updated quarterly. The registry carries no status for it because the platform keeps operating and publishes no freeze, but anyone holding its shares should treat the exit as theoretical. Strata, in Bengaluru, surrendered its SEBI Small and Medium REIT registration on 14 May 2025 without ever launching a scheme, after SEBI reviewed legal proceedings involving a promoter. SEBI told investors to exercise caution and barred the company from presenting itself as regulated. Strata still sells SPV stakes and still pays rent, so it is an incident rather than a status, but its investors lost the regulator they thought they had.
What a Freeze Looks Like Before It Happens
Every failure in the table followed the same order of events, and the order is the warning. First the payouts slip. RealT's weekly rent stopped arriving in late 2025, eight months before the liquidation call. Landa's dividends stopped in January 2025, three months before the app went dark. A missed distribution with a vague explanation is the earliest public signal a platform gives, and on a platform that pays daily or weekly it shows up fast. Then the exit closes. Landa paused deposits and trading in April 2025. Rendity stopped new projects in April 2024, almost two years before it liquidated. A platform that stops listing new properties has stopped raising money, which for a platform that lives on sourcing fees is the balance sheet talking. Then someone else takes control. RealT's court-appointed fiduciary, Landa's lender-installed independent manager, Rendity's insolvent project companies. By this stage the platform's own announcements lag the court record, and the news reports in the Source column are where investors learned what was happening. The common thread is not blockchain, not Regulation A, not any one country. Four of the six were landlords running thin-margin rental portfolios, and two were lenders whose borrowers stopped paying. Leverage at the platform level, Landa's $35 million of defaulted loans, and concentration, RealT's 700 houses in one city, turned a bad year into a wind-down. The risks guide covers what to check before you buy, and this page is what it looks like when the checks fail.
If Your Platform Is on This List
Nothing here is legal advice, and every wind-down runs on its own rules. Four steps hold across all of them. Find the primary source. The court docket, the regulator's notice, the SEC filing or the liquidator's letter, not the platform's blog and not a Reddit thread. The Source column is where each row's record starts, and the platform page has the rest. Export everything while you can. Subscription agreements, statements, wallet addresses, transaction history, and the record of what you were paid and when. Landa's portal went down without notice, and investors who had not saved their documents had to reconstruct them from email. Know where you stand in the queue. A member of a series LLC, a noteholder, a unit trust holder and a token holder have different claims. Taxes and secured lenders are usually paid first. Your offering document says what you hold, and the structure row on the platform page summarises it. Find the others. French RealT investors organised through Cryptoast and Crypto Briefing coverage, Landa investors through the court case. A group has a lawyer and a voice in the proceedings, an individual mostly has a mailbox. For everyone else, the practical use of this page is before you invest. Check the platform here and on its own page, then read is fractional real estate liquid for what an exit costs even on a platform that is working.
How We Track This
Every platform on the Threeworld registry carries a status field and an incident log, each with a source and the date we last checked it. When a platform stops, the status sets the notice on its profile, marks every one of its listings closed, removes it from the live platform count and adds its row here. When something happens to an operating platform, the incident appears on its page and on this table with the date. We added the status field on 24 October 2026, the day we noticed our RealT profile still described weekly rent in stablecoins three months after the liquidation call. The lesson was that a registry which only records what a platform says about itself will always be the last to know. This table is the correction: it records what the courts, regulators and filings say, and it is wrong the moment a new event happens that we have not yet logged. If you know of one, the contact page is where to send it.
Questions people ask
Which fractional real estate platforms have frozen withdrawals?
- As of October 2026, RealT is in voluntary liquidation, Landa has been dark since April 2025 with deposits, trading and most dividends stopped, Reinvest24 and Rendity are winding down, and Fintor and HoneyBricks have closed. Fundrise paused redemptions on its legacy eREITs from October 2025 to April 2026, and Cityfunds has paused new investment while its secondary market stays nominally open.
Can a fractional real estate platform freeze my money?
- Yes. Every redemption program and secondary market on the Threeworld registry is described by its platform as not guaranteed, and most offering documents give the platform the right to suspend redemptions. Fundrise used that right on its eREITs in 2025. Platforms that fail, such as RealT and Landa, stop paying before any formal announcement.
What happens to my shares if a fractional real estate platform shuts down?
- You keep whatever the offering document says you hold, usually a membership interest in an LLC or a claim on a loan, and recovery depends on what the property or loan realises after taxes and secured creditors are paid. The platform going dark does not cancel your interest, but it can leave you without the records to prove it, so export your documents early.
How do I check whether a fractional real estate platform is in trouble?
- Look for slipping payouts, a pause in new listings, and a change of control such as a court-appointed manager, in that order. Check the platform's page on Threeworld for its status and incident log, then the regulator's register and the SEC's EDGAR system for the platform's latest filing.
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