Fortress Net Lease REIT Reports Net Asset Value Per Share

Strategic Insights -

Fortress Net Lease REIT (FNLR) announced its Net Asset Value (NAV) per share for April 30, 2025, as part of its FORM 8-K filing with the U.S. Securities and Exchange Commission. The company's NAV per share for each class of common shares is as follows: Class I $10.2152, Class F-S $10.1980, Class F-I $10.2467, Class D-S $10.3953, Class E $10.5982, and OP Units $10.5643. This report provides a detailed breakdown of FNLR's NAV and its components as of April 30, 2025, as well as a comparison to the data for March 31, 2025.

Key Takeaways:

  • FNLR's NAV per share for April 30, 2025, ranges from $10.1980 to $10.5982 across different classes of common shares, with OP Units reporting $10.5643.
  • The total NAV for FNLR as of April 30, 2025, is $1,072,911, with a total of 104,200 outstanding shares/units.
  • A breakdown of the major components of FNLR's NAV as of April 30, 2025, includes investments in real estate ($1,583,504), intangible assets ($243,678), cash and cash equivalents ($7,792), restricted cash ($72,432), and other assets ($18,743).
  • The calculation of NAV per share is in accordance with the valuation guidelines approved by the board of trustees.
  • FNLR's NAV per share for March 31, 2025, ranged from $10.1931 to $10.4440 across different classes of common shares.
  • As of March 31, 2025, FNLR's total NAV was $1,005,433, with a total of 97,848 outstanding shares/units.
  • Class D-X represents Class D common shares that were purchased during the Initial Share Offering Period and are currently entitled to a fee waiver, with the Adviser waiving the management fee for six months and FNLR SLP LLC waiving the performance participation for six months.

Statistics:

  • FNLR's NAV per share for April 30, 2025:

+ Class I: $10.2152

+ Class F-S: $10.1980

+ Class F-I: $10.2467

+ Class D-S: $10.3953

+ Class E: $10.5982

+ OP Units: $10.5643

  • Total NAV for April 30, 2025: $1,072,911
  • Total outstanding shares/units for April 30, 2025: 104,200
  • FNLR's NAV per share for March 31, 2025:

+ Class I: $10.1931

+ Class F-S: $10.1760

+ Class F-I: $10.2245

+ Class D-S: $10.3631

+ Class D-X: $10.4440

+ Class E: $10.4357

+ OP Units: $10.4432

  • Total NAV for March 31, 2025: $1,005,433
  • Total outstanding shares/units for March 31, 2025: 97,848

Sources:

  • SEC Filing: 000-56632, FORM 8-K, dated May 21, 2025 (available on the SEC website)
  • Registration Statement on Form 10, filed with the SEC on February 1, 2024 (available on the SEC website)