Fortress Net Lease REIT Reports July 31, 2026 NAV Per Share

What Happened
Fortress Net Lease REIT announced its net asset value (NAV) and NAV per share for each outstanding class of common shares as of July 31, 2026. The company reported total NAV of $2,110,283 (amounts in thousands, or about $2.11 billion) and NAV per share ranging from $10.5358 (Class S) to $11.1703 (Class E). The 8‑K notes the report was made on August 17, 2026 and was filed on August 20, 2026.

Key Details

• Total NAV (as of July 31, 2026): $2,110,283 (amounts in thousands; ≈ $2.11B). Total outstanding shares/units: 195,889.
• NAV per share by class (July 31, 2026): Class S $10.5358; Class I $10.6184; Class F‑S $10.6778; Class F‑I $10.7494; Class D‑S $11.1057; Class D $10.5805; Class E $11.1703. OP Units NAV/unit: $11.7097.
• Major NAV components (July 31, 2026, amounts in thousands): Investments in real estate $3,260,770; Intangible assets $561,697; Cash $12,443; Restricted cash $123,087. Debt: Revolving credit facility $(940,778); Term loan $(807,865).
• Month-over-month comparison (June 30, 2026): Total NAV rose from $2,027,294 to $2,110,283 and shares/units increased from 188,851 to 195,889; NAV per share for most classes showed modest increases.

Why It Matters
NAV per share is the company’s internal estimate of the underlying value of its assets per share and is used by investors to assess how market price compares to estimated intrinsic value. The July 31 update shows a month-over-month increase in total NAV (about $83M) and slight NAV per‑share increases across most share classes, driven in part by higher reported real estate investments and changes in cash/restricted cash and borrowings. Investors should note NAV is a board‑approved internal valuation and not a market price; it complements, but does not replace, other financial metrics such as earnings, dividends or share trading prices.