Fortress Net Lease REIT Raises $93.9M as Fortress Credit Realty Income Trust Adds $22.3M

Class I shares drew the most money at both trusts, while the credit trust’s Class S took in just $350,000.

November 4, 2026

Fortress Net Lease REIT sold 8,730,792 common shares for approximately $93.9 million on November 2, pricing each class at its net asset value per share as of September 30. Fortress Credit Realty Income Trust, a privately offered mortgage REIT also managed by an affiliate of Fortress Investment Group, closed a sale the same day, issuing 1,114,835 shares for approximately $22.3 million off the same NAV date. Both sales were made under the private placement exemptions of Section 4(a)(2), Regulation D and/or Regulation S.

Fortress Net Lease REIT

Class I supplied the largest tranche, as it did in the trust's $91.3 million August closing. The trust sold these shares by class:

• Class I: 4,155,145 shares for about $44.7 million
• Class S: 2,645,503 shares for about $28.2 million
• Class F-I: 1,752,373 shares for about $19.1 million
• Class F-S: 175,440 shares for $1.9 million
• Class D: 2,331 shares for $25,000

Fortress Credit Realty Income Trust

Class I also led at the credit trust, with Class F-I second. Class F-I is one of two F classes that first appeared in the trust's July 1 sale. Class S, the second-largest tranche at the net lease trust, brought in $350,000 at the credit trust. The credit trust sold these shares by class:

• Class I: 641,021 shares for about $12.8 million
• Class F-I: 368,152 shares for about $7.4 million
• Class F-S: 53,247 shares for about $1.1 million
• Class J-4: 34,923 shares for $700,000
• Class S: 17,492 shares for $350,000

Distributions

Both trusts declared distributions on October 30, setting one gross amount per share for every class, with each class's net amount determined by the fees it bears.

Fortress Net Lease REIT set its gross distribution at $0.0748 per share. After shareholder servicing and management fees, net amounts ranged from $0.0562 for Class S to the full $0.0748 for Class E, which bears neither fee. Class F-I netted $0.0657, Class D-S $0.0654, Class I $0.0636, Class D $0.0614 and Class F-S $0.0581.

Fortress Credit Realty Income Trust set its gross distribution at $0.1580 per share and also deducts a performance fee on some classes. The J-4, S, D, I, F-I and F-S classes carried a performance fee deduction in this distribution, while Classes B, R, J-1 and J-2 did not. Class E received the full gross amount. Class B netted $0.1414, the highest of the fee-bearing classes, followed by Class J-2 at $0.1374 and Class F-I at $0.1363. Class S netted the least at $0.1075, behind Class J-4 at $0.1115.

At both trusts, the distributions are payable to shareholders of record as of the close of business on October 30, with payment on or about November 2, the date of the new share sales, in cash or through each trust's distribution reinvestment plan.