Fortress Net Lease REIT Reports June 30, 2026 NAV Per Share

What Happened

• Fortress Net Lease REIT reported net asset value (NAV) per share for each outstanding class of common shares as of June 30, 2026 (reported July 17, 2026; 8-K filed July 22, 2026). NAV per share by class: Class S $10.5031, Class I $10.5840, Class F‑S $10.6370, Class F‑I $10.7073, Class D‑S $11.0473, Class E $11.1116, and OP Units $11.6439.
• The Company reported total NAV of $2,027,294 (amounts in the filing are presented in thousands, i.e., approximately $2.03 billion) and 188,851 outstanding shares/units as of June 30, 2026.

Key Details

• Total NAV rose from $1,908,500 (May 31, 2026) to $2,027,294 (June 30, 2026) — an increase of $118,794 (about +6.2% month-over-month).
• Outstanding shares/units increased from 178,509 (May 31) to 188,851 (June 30).
• Major NAV components (June 30, amounts in thousands): Investments in real estate $3,212,929; cash and cash equivalents $41,784; restricted cash $74,570.
• Major liabilities (June 30, amounts in thousands): Revolving credit facility $1,007,204; term loan $807,636; subscriptions received in advance $74,559.

Why It Matters

• NAV per share is a key measure retail investors use to judge a REIT’s underlying asset value; the filing shows a month-over-month NAV increase and modest NAV-per-share increases across all classes.
• The filing also highlights balance sheet shifts (higher cash, changes in debt and subscriptions received) that can affect liquidity and how NAV is calculated.
• This 8-K is an informational update under Item 8.01 (Other Events) and reflects the Company’s board‑approved valuation guidelines; investors should use NAV alongside other operating and financial disclosures when evaluating the REIT.