Fortress Credit Realty Income Trust Trustee Resigns; New Trustee Appointed

What Happened

• Fortress Credit Realty Income Trust filed an 8-K (Item 5.02) dated September 15, 2026, reporting that trustee James B. Perry resigned effective September 15, 2026. The board appointed Charles H. Fedalen, Jr. to fill the vacancy the same day.
• The filing states Mr. Perry’s resignation was not due to any disagreement with the Trust on operations, policies, or practices.

Key Details

• Resignation and appointment effective date: September 15, 2026.
• New trustee: Charles H. Fedalen, Jr., age 70, retired in 2025 after a 43-year real estate career.
• Mr. Fedalen’s recent roles: CFO of Irvine Company (2014–2019) and President (2019–2025); earlier, he oversaw commercial real estate lending at Wells Fargo (1991–2013).
• Mr. Fedalen is an inactive member of the California Bar and has no arrangements or understandings with others regarding his selection as trustee.

Why It Matters

• This is a governance change: one trustee left and a seasoned real estate executive replaced him, which could influence board oversight and strategy given Mr. Fedalen’s finance and operations background.
• The filing indicates no disputes with management, and no special arrangements were disclosed, suggesting a routine board transition rather than a contested departure.
• There is no mention of immediate financial or operational impact to the Trust in the 8-K.