Vehicle file · Non-traded REIT

Fortress Net Lease REIT

What its SEC filings show.

SEC CIK 1966394·Inc. MD·Fiscal year end 12/31·Data as filed · pulled Oct 12, 2026

What this file is.Not a review. Every figure below is the issuer's own number as tagged in its filings to the SEC, unadjusted, with a link to the filing it came from. When a new filing lands, the table updates; when a filing changes something for the people who hold this vehicle, we write it up and link it under Our reads.

Fortress Net Lease REIT is a non-traded REIT registered with the SEC under CIK 1966394 (incorporated in MD). Its most recent filing is an 8-K (current report) dated Oct 6, 2026. As of Jun 30, 2026 it reported total assets of $3.77B (up 90.0% from $1.98B a year earlier) and stockholders' equity of $1.71B. Net income (loss) for the six months to Jun 30, 2026 was $14.2M. It raised $409.3M from new shares in the six months to Jun 30, 2026; paid $32.7M in distributions in the six months to Jun 30, 2026; spent $32.3M repurchasing shares in the six months to Jun 30, 2026.

What the figures say together

Our arithmetic on the issuer's own figures, only pairing numbers from the same period or date, and ranked against the 71 other vehicles of this type we track.

Cash from operations was $59.9M against $32.7M of distributions paid in the six months to Jun 30, 2026: operations covered 183% of the payout. It ranks 6th of the 23 vehicles of this type that report the same figures (1st = best covered).
In the six months to Jun 30, 2026 it raised $409.3M and paid $32.3M to buy back shares: a net inflow of $377.0M.
Liabilities were 54% of total assets at Jun 30, 2026. It ranks 17th of the 51 vehicles of this type that report the same figures (1st = least leveraged).
The management fee ran at about 1.09% a year of stockholders' equity ($9.2M in the six months to Jun 30, 2026, annualised; our arithmetic). It ranks 5th of the 16 vehicles of this type that report the same figures (1st = lowest fee).

Key figures, as filed.

Balance sheet

Figure	Latest	Period	A year earlier	Change	Source
Total assets	$3.77B	as of Jun 30, 2026	$1.98B	+90.0%	10-Q · Aug 11, 2026
Real estate, net	$2.96B	as of Jun 30, 2026	$1.57B	+88.4%	10-Q · Aug 11, 2026
Cash and equivalents	$41.8M	as of Jun 30, 2026	$5.5M	+658.5%	10-Q · Aug 11, 2026
Total liabilities	$2.02B	as of Jun 30, 2026	$894.0M	+125.6%	10-Q · Aug 11, 2026
Long-term debt	$1.36B	as of Jun 30, 2026	$802.9M	+69.3%	10-Q · Aug 11, 2026
Stockholders' equity	$1.71B	as of Jun 30, 2026	$1.06B	+61.8%	10-Q · Aug 11, 2026

Results and cash flow

Figure	Latest	Period	A year earlier	Change	Source
Revenues	$149.2M	six months to Jun 30, 2026	$72.0M	+107.4%	10-Q · Aug 11, 2026
Net income (loss)	$14.2M	six months to Jun 30, 2026	$12.3M	+15.6%	10-Q · Aug 11, 2026
Cash from operations	$59.9M	six months to Jun 30, 2026	$32.9M	+82.2%	10-Q · Aug 11, 2026
Management fees	$9.2M	six months to Jun 30, 2026	$5.2M	+77.1%	10-Q · Aug 11, 2026
Depreciation and amortization	$54.7M	six months to Jun 30, 2026	$26.4M	+107.2%	10-Q · Aug 11, 2026

Capital raised, distributions and repurchases

Figure	Latest	Period	A year earlier	Change	Source
Capital raised (common stock issued)	$409.3M	six months to Jun 30, 2026	$227.5M	+80.0%	10-Q · Aug 11, 2026
Distributions paid to common	$32.7M	six months to Jun 30, 2026	$19.7M	+65.6%	10-Q · Aug 11, 2026
Distributions declared per share	$0.43	six months to Jun 30, 2026	$0.36	+19.9%	10-Q · Aug 11, 2026
Share repurchases (cash paid)	$32.3M	six months to Jun 30, 2026	$5.8M	+456.3%	10-Q · Aug 11, 2026
Share repurchases (value)	$33.9M	six months to Jun 30, 2026	$2.1M	+1494.0%	10-Q · Aug 11, 2026
Shares repurchased	3.2M shares	six months to Jun 30, 2026	578,217 shares	+454.1%	10-Q · Aug 11, 2026

Flows (revenues, income, cash, distributions, repurchases) are shown for the period the issuer reported them in, which may be a quarter, a year-to-date span or a full year; “a year earlier” compares only periods of the same length. A vehicle that does not tag a figure in XBRL will not show it here even if the PDF discloses it.

If you have real money in this, do not decide it alone.

We can tell you what the filings say. What we cannot tell you is what it means for your particular position, your tax situation and the rest of your portfolio, and anyone who does that from a web page without knowing your circumstances is guessing. With money in a non-traded REIT you cannot sell at will, reading its filings to decide whether to hold, redeem or tender, that is the part that actually matters.

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Filing timeline.

The last 25 documents this issuer filed with the SEC. Marked rows are the ones that tend to matter to holders.

Oct 6, 20268-K · Current reportItems 3.02,8.01EDGAR ↗
Oct 2, 20264 · Insider transactionEDGAR ↗
Oct 2, 20268-K · Current reportItems 1.01,2.04,9.01EDGAR ↗
Sep 17, 20268-K · Current reportItems 8.01EDGAR ↗
Sep 15, 20264 · Insider transactionEDGAR ↗
Sep 9, 2026SCHEDULE 13G/A · FilingEDGAR ↗
Sep 9, 20264 · Insider transactionEDGAR ↗
Sep 4, 20264 · Insider transactionEDGAR ↗
Sep 4, 20268-K · Current reportItems 3.02,8.01EDGAR ↗
Aug 20, 20268-K · Current reportItems 8.01EDGAR ↗
Aug 11, 202610-Q · Quarterly reportEDGAR ↗
Aug 7, 20268-K · Current reportItems 3.02,8.01EDGAR ↗
Jul 22, 20268-K · Current reportItems 8.01EDGAR ↗
Jul 8, 20268-K · Current reportItems 3.02,8.01EDGAR ↗
Jul 6, 20268-K · Current reportItems 1.01,2.04,9.01EDGAR ↗
Jun 18, 20268-K · Current reportItems 8.01EDGAR ↗
Jun 5, 20268-K · Current reportItems 3.02,8.01EDGAR ↗
Jun 2, 20264 · Insider transactionEDGAR ↗
Jun 2, 20264 · Insider transactionEDGAR ↗
May 20, 20268-K · Current reportItems 8.01EDGAR ↗
May 19, 2026D/A · FilingItems 06b,3C.5EDGAR ↗
May 15, 2026SCHEDULE 13G · FilingEDGAR ↗
May 14, 202610-Q · Quarterly reportEDGAR ↗
May 7, 20268-K · Current reportItems 3.02,8.01EDGAR ↗
Apr 21, 20268-K · Current reportItems 8.01EDGAR ↗

Our reads on Fortress Net Lease REIT.

01Fortress Net Lease REIT (FNLR) Review 2026: Without Its Appraisal Gains, NAV per Unit Has Been Flat Since 2024Oct 3, 2026

Source: SEC EDGAR, XBRL company facts and filing index for CIK 1966394, retrieved Oct 12, 2026. Figures are reproduced as tagged by the issuer; errors in the source carry through, which is why every row links to the filing. Nothing here is investment advice.

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Fortress Net Lease REIT

What the figures say together

Key figures, as filed.

Filing timeline.

Our reads on Fortress Net Lease REIT.

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