Investor distributions were also announced, with varying net returns across share classes.

July 09, 2025

Equity Raise Reaches $41.5 Million Across Four Share Classes

On July 1, Fortress Net Lease REIT brought in $41.5 million through the sale of just over 4 million common shares. The shares were priced based on the company’s net asset value as of May 31 and issued across four share classes. These transactions were made under private placement exemptions, allowing the company to move quickly without the need for public registration.

• Class F-S: 1.78 million shares sold, raising $18.2 million


• Class F-I: 1.63 million shares sold, raising $16.8 million


• Class I: 616,880 shares sold, raising $6.3 million


• Class E: 10,954 shares sold, raising $115,000

Distributions Declared for June Shareholders

The next day, Fortress declared its latest round of shareholder distributions. Investors holding shares as of June 30 will receive their payouts around July 2. Each class of shares carries the same gross distribution of $0.0683, but the actual amounts hitting investor accounts vary depending on the associated fees.

For Class I and Class F-I, the absence of shareholder servicing fees meant more of the gross distribution was preserved. Net returns for those two classes came to $0.0576 and $0.0597 per share, respectively.

Class F-S and Class D-S saw slightly lower net payouts due to both servicing and management fees. These came in at $0.0525 and $0.0596 per share, respectively. Class E was the only class to receive the full gross distribution— $0.0683 per share—with no deductions applied.

These distributions will be paid in cash or automatically reinvested, depending on the shareholder’s election. Fortress’s capital raise and distribution announcement reflect a dual-track approach: securing new equity while delivering timely value back to investors.