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

What Happened
Fortress Net Lease REIT filed an 8‑K on September 17, 2026 reporting its net asset value (NAV) as of August 31, 2026. The company reported total NAV of $2,219,784 (amounts in thousands — approximately $2.22 billion) and 204,873 outstanding shares/units. NAV rose from $2,110,283 (July 31, 2026) to $2,219,784 (Aug 31, 2026); the filing includes NAV per share for each class and a breakdown of major NAV components and liabilities.

Key Details

• Total NAV (Aug 31, 2026): $2,219,784 (amounts in thousands) — up $109,501 from $2,110,283 as of July 31, 2026. Outstanding shares/units: 204,873 (vs. 195,889 on July 31, 2026; increase of 8,984).
• NAV per share/unit as of Aug 31, 2026:
  • Class S: $10.5930
  • Class I: $10.6770
  • Class F-S: $10.7442
  • Class F-I: $10.8167
  • Class D-S: $11.1935
  • Class D: $10.6425
  • Class E: $11.2590
  • OP Units: $11.8063 (includes Class A OP Units held by FNLR Management LLC, the Adviser)
• Major components of NAV (Aug 31, 2026, amounts in thousands): Investments in real estate $3,344,337; intangible assets $561,697; cash and equivalents $16,526; restricted cash $169,023. Major liabilities: revolving credit facility $908,334; term loan $818,057. Subscriptions received in advance rose to $138,014 (from $92,078 on July 31).
• Filing signed by Avraham Dreyfuss, Chief Financial Officer, dated September 17, 2026.

Why It Matters
This 8‑K gives investors the company’s latest monthly valuation of its real estate portfolio and the per‑share NAVs used to assess intrinsic value. The month‑over‑month NAV increase (and rise in outstanding shares and subscriptions received in advance) reflects growth in reported net asset value and additional capital inflows for the REIT. Debt balances and the mix of real estate and intangible assets shown in the filing are key inputs investors use to compare NAV to market price and evaluate financial leverage.