UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 14, 2025

Sculptor Diversified Real Estate Income Trust, Inc.

(Exact Name of Registrant as Specified in its Charter)

Maryland

000-56566

88-0870670

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS. Employer

Identification No.)


9 West 57th Street, 40th Floor New York, NY 10019
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (212) 790-0000

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

Item 8.01. Other Events.

October 31, 2025 Net Asset Value (“NAV”) per Share

On November 14, 2025, we released the NAV per share for each share class of our common stock as of October 31, 2025, which amounts are as follows:


	NAV per Share
Class E	$	11.2907
Class F	$	11.0878
Class FF	$	10.9153
Class AA	$	10.8697
Class A	$	10.7616
Class I-S	$	10.7194

NAV Calculation

We calculate NAV per share in accordance with the valuation guidelines that have been approved by our board of directors. Our total NAV presented in the following tables includes the NAV of our Class E, Class F, Class FF, Class AA, Class A and Class I-S common shares, which were reduced by the noncontrolling interests in our consolidated subsidiaries.

The following table provides a breakdown of the major components of our NAV as of October 31, 2025 (amounts in thousands, except share/unit data):


Components of NAV
Investments in real estate, net (including goodwill)	$	748,782
Investment in an unconsolidated joint venture	2,227
Investment in real estate debt	68,960
Cash and cash equivalents	34,182
Restricted cash	17,666
Receivables	1,375
Other assets	3,302
Mortgages, credit facility and financing obligations, net	(348,110)
Accounts payable and other liabilities	(22,196)
Management fee payable	(355)
Accrued performance participation allocation	(2,527)
Due to related parties, net	(28)
Noncontrolling interest in the consolidated subsidiaries	(32,579)
Net Asset Value	$	470,699
Number of outstanding shares/units	42,587,898

The following table provides a breakdown of our total NAV and NAV per share/unit by class as of October 31, 2025 (amounts in thousands, except share/unit and per share/unit data):


NAV per share	Class E Shares		Class F Shares		Class FF Shares		Class AA Shares		Class A Shares		Class I-S Shares		Operating Partnership Units(1)		Total
NAV	$	89,659	$	217,409	$	69,063	$	73,505	$	18,685	$	541	$	1,837	$	470,699
Number of outstanding shares/units	7,940,916		19,607,983		6,327,139		6,762,396		1,736,279		50,443		162,742		42,587,898
NAV Per Share/Unit	$	11.2907	$	11.0878	$	10.9153	$	10.8697	$	10.7616	$	10.7194	$	11.2907	$	11.0524

_____________________________________

(1) Includes the partnership interests of Sculptor Diversified REIT Operating Partnership LP held by Sculptor Diversified REIT Special Limited Partner LP.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Sculptor Diversified Real Estate Income Trust, Inc.

By:			/s/ Steven Orbuch
Name:			Steven Orbuch
Title:			Chief Executive Officer

Date:			November 14, 2025

Sculptor Diversified Real Estate Income Trust, Inc. 8-K