0002026738falseNONE00020267382025-03-172025-03-17

 

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): March 17, 2025

 

 

Fortress Credit Realty Income Trust

(Exact name of Registrant as Specified in Its Charter)

 

 

Maryland

000-56685

99-3367363

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

1345 Avenue of the Americas

 

New York, New York

 

10105

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (212) 798-6100

 

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:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

None

 

N/A

 

N/A

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.

February 28, 2025 NAV Per Share

 

On March 17, 2025, Fortress Credit Realty Income Trust (the “Company” or “we”) reported net asset value (“NAV”) per share for each class of common shares of the Company as of February 28, 2025, which is set forth below:

 

 

 

NAV per Share

 

Class B

 

$

20.1666

 

Class R

 

$

20.0402

 

Class J-1

 

$

20.0284

 

Class J-2

 

$

20.0284

 

Class I

 

$

20.2869

 

Class E

 

$

20.1524

 

Net Asset Value
 

A detailed calculation of the NAV per share is set forth below. We calculate NAV per share in accordance with the valuation guidelines that have been approved by our board of trustees. Our total NAV presented in the following tables includes the NAV of our outstanding classes of common shares, which includes Class B, Class R, Class J-1, Class J-2, Class J-4, Class S, Class D, Class I and Class E common shares. The following table provides a breakdown of the major components of our NAV as of February 28, 2025 (amounts in thousands):

 

Components of NAV

 

Amount

 

Commercial real estate loan investments

 

$

670,842

 

Investments in real estate-related assets

 

 

142,978

 

Cash and cash equivalents

 

 

188,891

 

Restricted cash

 

 

148,188

 

Other assets

 

 

13,709

 

Secured debt arrangements

 

 

(356,214

)

Subscriptions received in advance

 

 

(133,139

)

Revolving credit facilities

 

 

(48,691

)

Distribution payable

 

 

(3,522

)

Due to affiliate

 

 

(1,327

)

Other liabilities

 

 

(66,664

)

Non-controlling interests

 

 

(15,620

)

Net Asset Value

 

$

539,431

 

Number of outstanding shares

 

 

26,814

 

The following table provides a breakdown of our total NAV and NAV per share by class as of February 28, 2025 (amounts in thousands, except per share data):

 

 

 

Monthly NAV

 

 

Number of
outstanding shares

 

 

NAV per Share
as of February 28, 2025

 

Class B

 

$

316,821

 

 

 

15,710

 

 

$

20.1666

 

Class R

 

 

71,608

 

 

 

3,573

 

 

$

20.0402

 

Class J-1

 

 

78,803

 

 

 

3,935

 

 

$

20.0284

 

Class J-2

 

 

44,916

 

 

 

2,243

 

 

$

20.0284

 

Class J-4

 

 

 

 

 

 

 

 

 

Class S

 

 

 

 

 

 

 

 

 

Class D

 

 

 

 

 

 

 

 

 

Class I

 

 

1,987

 

 

 

98

 

 

$

20.2869

 

Class E

 

 

25,296

 

 

 

1,255

 

 

$

20.1524

 

Total

 

$

539,431

 

 

 

26,814

 

 

 

 

 

 


The following table provides a breakdown of the major components of NAV as of January 31, 2025 (amounts in thousands):

 

Components of NAV

 

Amount

 

Commercial real estate loan investments

 

$

582,805

 

Investments in real estate-related assets

 

 

78,279

 

Cash and cash equivalents

 

 

73,693

 

Restricted cash

 

 

222,480

 

Other assets

 

 

4,306

 

Secured debt arrangements

 

 

(340,618

)

Subscriptions received in advance

 

 

(207,144

)

Revolving credit facilities

 

 

(48,967

)

Distribution Payable

 

 

(2,173

)

Due to affiliate

 

 

(1,082

)

Other liabilities

 

 

(16,696

)

Non-controlling interests

 

 

(10,640

)

Net Asset Value

 

$

334,243

 

Number of outstanding shares

 

 

16,532

 

 

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

 

 

 

Monthly NAV

 

 

Number of
outstanding shares

 

 

NAV per Share
as of January 31, 2025

 

Class B

 

$

254,504

 

 

 

12,576

 

 

$

20.2377

 

Class R

 

 

53,471

 

 

 

2,656

 

 

$

20.1296

 

Class J-1

 

 

 

 

 

 

 

 

 

Class J-2

 

 

 

 

 

 

 

 

 

Class J-4

 

 

 

 

 

 

 

 

 

Class S

 

 

 

 

 

 

 

 

 

Class D

 

 

 

 

 

 

 

 

 

Class I

 

 

1,890

 

 

 

93

 

 

$

20.3428

 

Class E

 

 

24,378

 

 

 

1,207

 

 

$

20.1942

 

Total

 

$

334,243

 

 

 

16,532

 

 

 

 

 

 


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.

 

 

 

Fortress Credit Realty Income Trust

 

 

 

 

Dated: March 21, 2025

 

By:

/s/ Avraham Dreyfuss

 

 

 

Name: Avraham Dreyfuss
Title: Chief Financial Officer