Fortress Net Lease REIT

04/21/2026 | Press release | Distributed by Public on 04/21/2026 14:51

Material Event (Form 8-K)

Item 8.01 Other Events.

March 31, 2026 NAV Per Share

On April 16, 2026, 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 March 31, 2026, which is set forth below:

NAV per Share

Class S

$

10.4024

Class I

$

10.4635

Class F-S

$

10.4879

Class F-I

$

10.5556

Class D-S

$

10.8443

Class E

$

10.9104

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 S, 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 March 31, 2026 (amounts in thousands):

Components of NAV

Amount

Investments in real estate

$

2,965,702

Intangible assets

491,282

Cash and cash equivalents

13,410

Restricted cash

112,946

Other assets

66,547

Revolving credit facility

(981,080

)

Term loan

(776,996

)

Subscriptions received in advance

(112,333

)

Distribution payable

(10,029

)

Due to affiliate

(8,058

)

Other liabilities

(30,319

)

Net Asset Value

$

1,731,072

Number of outstanding shares/units

163,179

The following table provides a breakdown of our total NAV and NAV per share/unit by class as of March 31, 2026 (amounts in thousands, except per share/unit data):

Net Asset Value

Number of Outstanding Shares/Units

NAV per Share/Unit as of March 31, 2026

Class S

$

43,791

4,210

$

10.4024

Class I

198,625

18,983

$

10.4635

Class F-S

268,310

25,583

$

10.4879

Class F-I

766,979

72,661

$

10.5556

Class D-S

406,808

37,514

$

10.8443

Class E

28,170

2,582

$

10.9104

OP Units(1)

18,389

1,646

$

11.1697

Total

$

1,731,072

163,179

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

The following table provides a breakdown of the major components of our NAV as of February 28, 2026 (amounts in thousands):

Components of NAV

Amount

Investments in real estate

$

2,802,899

Intangible assets

491,282

Cash and cash equivalents

7,116

Restricted cash

86,584

Other assets

71,560

Revolving credit facility

(914,100

)

Term loan

(776,741

)

Subscriptions received in advance

(84,491

)

Distribution payable

(9,528

)

Due to affiliate

(6,128

)

Other liabilities

(29,474

)

Net Asset Value

$

1,638,979

Number of outstanding shares/units

155,085

The following table provides a breakdown of our total NAV and NAV per share/unit by class as of February 28, 2026 (amounts in thousands, except per share/unit data):

Net Asset Value

Number of Outstanding Shares/Units

NAV per Share/Unit as of February 28, 2026

Class S

$

24,775

2,389

$

10.3697

Class I

170,722

16,374

$

10.4264

Class F-S

262,739

25,153

$

10.4455

Class F-I

731,060

69,537

$

10.5133

Class D-S

404,671

37,520

$

10.7856

Class E

27,999

2,580

$

10.8508

OP Units(1)

17,013

1,532

$

11.1070

Total

$

1,638,979

155,085

(1)
Includes the Class A OP Units held by FNLR Management LLC (the "Adviser") and FNLR SLP LLC (the "Special Limited Partner") .
Fortress Net Lease REIT published this content on April 21, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 21, 2026 at 20:51 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]