Fortress Net Lease REIT

07/18/2025 | Press release | Distributed by Public on 07/18/2025 10:55

Material Event (Form 8-K)

Item 8.01 Other Events.

June 30, 2025 NAV Per Share

On July 15, 2025, Fortress Net Lease REIT (the "Company" or "we") the Company reported net asset value ("NAV") per share for each outstanding class of common shares of the Company as of June 30, 2025, which is set forth below:

NAV per Share

Class I

$

10.2359

Class F-S

$

10.2272

Class F-I

$

10.2809

Class D-S

$

10.4508

Class E

$

10.5120

Net Asset Value

A detailed calculation of the NAV per share is set forth below. We calculate NAV per share in accordance with the valuation guidelines that have been approved by our board of trustees. Our total NAV presented in the following tables includes the NAV of our outstanding classes of common shares, which includes Class I, Class F-S, Class F-I, Class D-S and Class E common shares, as well as the partnership interests ("OP Units") of FNLR OP LP (the "Operating Partnership"), if any, held by parties other than the Company.

The following table provides a breakdown of the major components of our NAV as of June 30, 2025 (amounts in thousands):

Components of NAV

Amount

Investments in real estate

$

1,723,224

Intangible assets

261,192

Cash and cash equivalents

5,509

Restricted cash

45,810

Other assets

18,182

Revolving credit facility

(622,000

)

Term loan

(180,897

)

Subscriptions received in advance

(41,689

)

Distribution payable

(6,770

)

Due to affiliate

(6,751

)

Other liabilities

(12,204

)

Net Asset Value

$

1,183,606

Number of outstanding shares/units

114,518

The following table provides a breakdown of our total NAV and NAV per share/unit by class as of June 30, 2025 (amounts in thousands, except per share unit data):

Monthly NAV

Number of Outstanding Shares/Units

NAV per Share/Unit as of June 30, 2025

Class I

$

56,359

5,506

$

10.2359

Class F-S

103,948

10,164

$

10.2272

Class F-I

602,921

58,645

$

10.2809

Class D-S

390,059

37,323

$

10.4508

Class E

26,062

2,479

$

10.5120

OP Units(1)

4,257

401

$

10.6233

Total

$

1,183,606

114,518

(1)
Includes the Class A OP Units held by FNLR SLP LLC (the "Special Limited Partner") and FNLR Management LLC (the "Adviser")

The following table provides a breakdown of the major components of our NAV as of May 31, 2025 (amounts in thousands):

Components of NAV

Amount

Investments in real estate

$

1,595,117

Intangible assets

258,134

Cash and cash equivalents

6,155

Restricted cash

46,663

Other assets

18,870

Revolving credit facility

(525,500

)

Term loan

(180,881

)

Subscriptions received in advance

(35,383

)

Distribution payable

(6,542

)

Due to affiliate

(5,576

)

Other liabilities

(26,852

)

Net Asset Value

$

1,144,205

Number of outstanding shares/units

110,754

The following table provides a breakdown of our total NAV and NAV per share/unit by class as of May 31, 2025 (amounts in thousands, except per share/unit data):

Monthly NAV

Number of Outstanding Shares/Units

NAV per Share/Unit as of May 31, 2025

Class I

$

45,721

4,466

$

10.2370

Class F-S

91,209

8,919

$

10.2263

Class F-I

589,596

57,372

$

10.2768

Class D-S

388,890

37,258

$

10.4377

Class E

25,504

2,429

$

10.4982

OP Units(1)

3,285

310

$

10.6088

Total

$

1,144,205

110,754

(1)
Includes the Class A OP Units held by FNLR SLP LLC (the "Special Limited Partner") and FNLR Management LLC (the "Adviser")
Fortress Net Lease REIT published this content on July 18, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on July 18, 2025 at 16:55 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at support@pubt.io