Fortress Net Lease REIT

06/18/2026 | Press release | Distributed by Public on 06/18/2026 08:58

Material Event (Form 8-K)

Item 8.01 Other Events.

May 31, 2026 NAV Per Share

On June 15, 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 May 31, 2026, which is set forth below:

NAV per Share

Class S

$

10.4688

Class I

$

10.5423

Class F-S

$

10.5823

Class F-I

$

10.6526

Class D-S

$

10.9739

Class E

$

11.0405

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 May 31, 2026 (amounts in thousands):

Components of NAV

Amount

Investments in real estate

$

3,250,202

Intangible assets

486,177

Cash and cash equivalents

15,395

Restricted cash

114,769

Other assets

95,327

Revolving credit facility

(1,094,664

)

Term loan

(777,521

)

Subscriptions received in advance

(114,757

)

Distribution payable

(11,107

)

Due to affiliate

(12,764

)

Other liabilities

(42,557

)

Net Asset Value

$

1,908,500

Number of outstanding shares/units

178,509

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

Net Asset Value

Number of Outstanding Shares/Units

NAV per Share/Unit as of May 31, 2026

Class S

$

130,507

12,466

$

10.4688

Class I

272,975

25,893

$

10.5423

Class F-S

274,562

25,945

$

10.5823

Class F-I

779,367

73,163

$

10.6526

Class D-S

407,974

37,177

$

10.9739

Class E

28,541

2,585

$

11.0405

OP Units(1)

14,574

1,280

$

11.3880

Total

$

1,908,500

178,509

(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 April 30, 2026 (amounts in thousands):

Components of NAV

Amount

Investments in real estate

$

3,228,996

Intangible assets

491,282

Cash and cash equivalents

14,843

Restricted cash

70,896

Other assets

64,004

Revolving credit facility

(1,123,065

)

Term loan

(777,218

)

Subscriptions received in advance

(67,896

)

Distribution payable

(10,766

)

Due to affiliate

(9,909

)

Other liabilities

(44,083

)

Net Asset Value

$

1,837,084

Number of outstanding shares/units

172,827

The following table provides a breakdown of our total NAV and NAV per share/unit by class as of April 30, 2026 (amounts in thousands, except per share/unit data):

Net Asset Value

Number of Outstanding Shares/Units

NAV per Share/Unit as of April 30, 2026

Class S

$

96,248

9,245

$

10.4102

Class I

247,264

23,588

$

10.4826

Class F-S

271,200

25,787

$

10.5171

Class F-I

766,514

72,408

$

10.5862

Class D-S

407,588

37,436

$

10.8876

Class E

28,300

2,583

$

10.9541

OP Units(1)

19,970

1,780

$

11.2162

Total

$

1,837,084

172,827

(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 June 18, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT) on June 18, 2026 at 14:58 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]