Private company
Fortress Net Lease REIT
In its 2026 annual report the company says: “We are a Maryland statutory trust formed on January 24, 2023. The Company is designed to offer individual investors an ability to access net lease real estate. We are a privately-placed, non-listed, perpetual life REIT.”6 It is headquartered in New York, United States.2
Last updated Oct 20, 2026.
Overview
- IndustryReal Estate Investment Trusts2
- HeadquartersNew York, United States2
- Incorporated inMD4
- Business address1345 Avenue Of The Americas, New York, Ny 101054
- Filer category, Emerging growth company4
- Legal formBusiness Trust2
- Kind of organizationReal estate investment trust2
- LEI2549002PRXFTFQ2VIU192
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O THE CORPORATION TRUST INCORPORATED, 21093 Baltimore, United States2
- Registered withBusiness Services (Maryland Department of Assessments and Taxation), B236052562
See how the biggest companies compare on our leaderboards
We are a Maryland statutory trust formed on January 24, 2023. The Company is designed to offer individual investors an ability to access net lease real estate. We are a privately-placed, non-listed, perpetual life REIT. We own all or substantially all of our assets through the Operating Partnership. We are externally managed by our Adviser, an affiliate of our sponsor, Fortress. Our principal office is located at 1345 Avenue of the Americas, New York, NY 10105 and our telephone number is (212) 798-6100.6 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs85¢$157.6M
- Profit15¢$26.8M
Out of $184.3M in revenue.3
Where each dollar of operating cash went, fiscal 2025
- Dividends paid54¢$45.9M
- Share buybacks17¢$14.1M
- Kept or used elsewhere29¢$25.0M
Out of $85.0M of cash from operations.3
Financial statements
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $85.0K3 | $41.4M3 | $184.3M3 |
| Operating expenses | $6.7M3 | $30.8M3 | $102.2M3 |
| Net income | -$6.3M3 | $11.6M3 | $26.8M3 |
| Earnings per share | -$3.963 | $0.213 | $0.233 |
| Earnings per share (diluted) | -$3.963 | $0.213 | $0.233 |
| Shares (weighted, basic) | 1.6M shares3 | 55.5M shares3 | 115.8M shares3 |
| Shares (weighted, diluted) | 1.6M shares3 | 55.5M shares3 | 116.3M shares3 |
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cash | $4.5M3 | $127.2M3 | $4.0M3 |
| Intangible assets | $20.9M10 | $207.6M3 | $468.2M3 |
| Total assets | $252.5M10 | $1.6B3 | $3.3B3 |
| Long-term debt | $683.7M3 | $1.3B3 | |
| Total liabilities | $143.4M10 | $812.7M3 | $1.9B3 |
| Retained earnings | -$7.0M10 | -$28.4M3 | -$83.9M3 |
| Shareholders’ equity | $109.1M3 | $770.3M3 | $1.3B3 |
| Shares outstanding | 11.9M shares10 | 80.9M shares10 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cash from operations | $536.0K3 | $34.1M3 | $85.0M3 |
| Depreciation and amortization | $25.0K3 | $14.0M3 | $67.2M3 |
| Stock-based compensation | $010 | $300.0K3 | $300.0K7 |
| Cash from investing | -$109.9M3 | -$1.2B3 | -$1.9B3 |
| Dividends paid | $231.0K3 | $19.4M3 | $45.9M3 |
| Share buybacks | $03 | $2.9M3 | $14.1M3 |
| Cash from financing | $241.7M3 | $1.3B3 | $1.6B3 |
| Dividend per share | $0.083 | $0.583 | $0.783 |
Corporate structure
Fortress Net Lease REIT sits at the top of its group. 77 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Fortress Net Lease REIT
- TIEDEMANN ADVISORS, LLC Filed SCHEDULE 13G/A on Fortress Net Lease REIT, latest Sep 9, 2026 (8 filings since Nov 15, 2024)
- Fortress Net Lease REIT New York, New York, United States
- FIG Ion Timber LLC Subsidiary · Delaware, United States
- FNLR 1BAL LLC Subsidiary · Delaware, United States
- FNLR 1NWB LLC Subsidiary · Delaware, United States
- FNLR 1SEA LLC Subsidiary · Delaware, United States
- FNLR 1SUM LLC Subsidiary · Delaware, United States
- FNLR API LLC Subsidiary · Delaware, United States
- FNLR BFNB LLC Subsidiary · Delaware, United States
- FNLR BGSB LLC Subsidiary · Delaware, United States
- FNLR BNSB LLC Subsidiary · Delaware, United States
- FNLR BOMO LLC Subsidiary · Delaware, United States
- FNLR CAP TRS LTD Subsidiary · Cayman Islands
- FNLR Chips on the Table LLC Subsidiary · Delaware, United States
- FNLR CIBM LLC Subsidiary · Delaware, United States
- FNLR Compounds Matter LLC Subsidiary · Delaware, United States
- FNLR Compounds Matter Too LLC Subsidiary · Delaware, United States
- FNLR CSCU LLC Subsidiary · Delaware, United States
- FNLR Debugged LLC Subsidiary · Delaware, United States
- FNLR Dirigible LLC Subsidiary · Delaware, United States
- FNLR Down the Drain LLC Subsidiary · Delaware, United States
- FNLR European Asset Holdings Ltd Subsidiary · United Kingdom
- FNLR European Asset Subsidiary Holdings Ltd Subsidiary · United Kingdom
- FNLR Even Flow LLC Subsidiary · Delaware, United States
- FNLR FFSC LLC Subsidiary · Delaware, United States
- FNLR Flavor LLC Subsidiary · Delaware, United States
- FNLR FNBP LLC Subsidiary · Delaware, United States
- and 51 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Fortress Net Lease REIT reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
Real estate and locations
| Item | Latest | A year before | Change |
|---|---|---|---|
| Real estate investments, net | $2.6B3 Dec 31, 2025 | $1.1B3 Dec 31, 2024 | +128.9% |
| Real estate investments, at cost | $2.7B3 Dec 31, 2025 | $1.2B3 Dec 31, 2024 | +131.9% |
| Real estate accumulated depreciation | $58.1M3 Dec 31, 2025 | $10.5M3 Dec 31, 2024 | +451.9% |
| Real estate properties | 2743 Dec 31, 2025 | ||
| Area of real estate | 19.7 million sq ft3 Dec 31, 2025 | 8.3 million sq ft3 Dec 31, 2024 | +137.3% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $4.0M3 Dec 31, 2025 | $127.2M3 Dec 31, 2024 | −96.9% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finite-lived intangibles, gross | $491.3M3 Dec 31, 2025 | $211.1M3 Dec 31, 2024 | +132.8% |
| Finite-lived intangibles, net | $468.2M3 Dec 31, 2025 | $207.6M3 Dec 31, 2024 | +125.6% |
Properties, in its own words
Our principal office is located at 1345 Avenue of the Americas, New York, NY 10105. As part of the Management Agreement, the Adviser is responsible for providing office space and office services required in rendering services to us. We consider these facilities to be suitable and adequate for the management and operations of our business. For an overview of our real estate investments, see “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Year Ended 2025 Highlights—Overall Portfolio.”
Item 2 of the 10-K filed Mar 26, 2026.6
Leadership
Who has led Fortress Net Lease REIT, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
2025
- Chief executive officerAhsan Aijaz Apr 1, 2024 to now12
- Chief executive officerJoshua A. Pack Apr 1, 2024 to now13
- Chief financial officerAvraham Dreyfuss Apr 1, 2024 to now14
Board members and other officers (5)
- Board memberAhsan Aijaz Apr 1, 2024 to now12
- Board memberDavid Weinreb Apr 1, 2024 to now15
- Board memberDeborah D. McWhinney Apr 1, 2024 to now16
- Board memberJoshua A. Pack Apr 1, 2024 to now13
- Board memberLewis A. Burleigh Apr 1, 2024 to now17
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- FIG Ion Timber LLC Delaware5
- FNLR 1BAL LLC Delaware5
- FNLR 1NWB LLC Delaware5
- FNLR 1SEA LLC Delaware5
- FNLR 1SUM LLC Delaware5
- FNLR API LLC Delaware5
- FNLR BFNB LLC Delaware5
- FNLR BGSB LLC Delaware5
- FNLR BNSB LLC Delaware5
- FNLR BOMO LLC Delaware5
- FNLR CAP TRS LTD Cayman Islands5
- FNLR CIBM LLC Delaware5
- FNLR CSCU LLC Delaware5
- FNLR Chips on the Table LLC Delaware5
- FNLR Compounds Matter LLC Delaware5
- FNLR Compounds Matter Too LLC Delaware5
- FNLR Debugged LLC Delaware5
- FNLR Dirigible LLC Delaware5
- FNLR Down the Drain LLC Delaware5
- FNLR European Asset Holdings Ltd UK5
- FNLR European Asset Subsidiary Holdings Ltd UK5
- FNLR Even Flow LLC Delaware5
- FNLR FFSC LLC Delaware5
- FNLR FNBP LLC Delaware5
All 76 listed subsidiaries
- FNLR FSBB LLC Delaware5
- FNLR Flavor LLC Delaware5
- FNLR Fortuna Major LLC Delaware5
- FNLR Fuji LLC Delaware5
- FNLR GP LLC Delaware5
- FNLR Good Chemistry LLC Delaware5
- FNLR Good Vibrations LLC Delaware5
- FNLR Grocery LLC Delaware5
- FNLR HSCU LLC Delaware5
- FNLR Harvester LLC Delaware5
- FNLR Here in My Car LLC Delaware5
- FNLR Holdings LLC Delaware5
- FNLR Homer LLC Delaware5
- FNLR IBKY LLC Delaware5
- FNLR INCU LLC Delaware5
- FNLR Ion Cheyenne LLC Delaware5
- FNLR Ion Nampa LLC Delaware5
- FNLR JLCU LLC Delaware5
- FNLR Logistics LLC Delaware5
- FNLR MS LLC Delaware5
- FNLR MSCU LLC Delaware5
- FNLR MVBB LLC Delaware5
- FNLR Management LLC Delaware5
- FNLR Mud LLC Delaware5
- FNLR NSBC LLC Delaware5
- FNLR Need for Seed LLC Delaware5
- FNLR New Metal LLC Delaware5
- FNLR NonFriction LLC Delaware5
- FNLR OFCU LLC Delaware5
- FNLR OP LP Delaware5
- FNLR PBHZ LLC Delaware5
- FNLR PFG Holdings LLC Delaware5
- FNLR Pinafore LLC Delaware5
- FNLR Pipe Dream LLC Delaware5
- FNLR Print BTS GP LLC Delaware5
- FNLR Print BTS LP Delaware5
- FNLR Print Em GP LLC Delaware5
- FNLR Print Em LP LLC Delaware5
- FNLR Print LLC Delaware5
- FNLR RWBC LLC Delaware5
- FNLR Rex Banner LLC Delaware5
- FNLR SFCU LLC Delaware5
- FNLR SLP LLC Delaware5
- FNLR Secured LLC Delaware5
- FNLR Steel Rolling LLC Delaware5
- FNLR Straight Six LLC Delaware5
- FNLR Under Pressure LLC Delaware5
- FNLR Ursa Minor LLC Delaware5
- FNLR Well Read LLC Delaware5
- FNLR/STP Print Em Venture LP Delaware5
- GV Sprockets Sub LLC Delaware5
- SP Hern Ave St. Louis MO, LLC Delaware5
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Oct 13, 20268-K Entered a material agreement; New debt or obligation18
- Oct 6, 20268-K Unregistered sale of shares; Other events19
- Oct 2, 20268-K Entered a material agreement; Debt or obligation accelerated20
- Sep 17, 20268-K Other events21
- Sep 4, 20268-K Unregistered sale of shares; Other events22
- Aug 20, 20268-K Other events23
- Aug 7, 20268-K Unregistered sale of shares; Other events24
- Jul 22, 20268-K Other events25
- Jul 8, 20268-K Unregistered sale of shares; Other events26
- Jul 6, 20268-K Entered a material agreement; Debt or obligation accelerated27
- Jun 18, 20268-K Other events28
- Jun 5, 20268-K Unregistered sale of shares; Other events29
- Apr 1, 2024New chief executive Joshua A. Pack becomes CEO13
- Apr 1, 2024New chief executive Ahsan Aijaz becomes CEO12
- Jan 24, 2023Founded Fortress Net Lease REIT is founded2
Filings
143 filings to the SEC since October 2021: 2 annual reports, 8 quarterly reports, 77 major events, 29 insider forms, 8 large holders, 7 private raises, 12 other. The latest 20:
- Oct 13, 20268-K EDGAR
- Oct 6, 20268-K EDGAR
- Oct 2, 20268-K EDGAR
- Oct 2, 20264 EDGAR
- Sep 17, 20268-K EDGAR
- Sep 15, 20264 EDGAR
- Sep 9, 2026SCHEDULE 13G/A EDGAR
- Sep 9, 20264 EDGAR
- Sep 4, 20268-K EDGAR
- Sep 4, 20264 EDGAR
- Aug 20, 20268-K EDGAR
- Aug 11, 202610-Q EDGAR
- Aug 7, 20268-K EDGAR
- Jul 22, 20268-K EDGAR
- Jul 8, 20268-K EDGAR
- Jul 6, 20268-K EDGAR
- Jun 18, 20268-K EDGAR
- Jun 5, 20268-K EDGAR
- Jun 2, 20264 EDGAR
- Jun 2, 20264 EDGAR
The 143 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
11 open-market trades by officers, directors and large owners since October 2021: 11 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 1, 2026 | AlTI Global Capital, LLC10% owner | Buy | 0 | Form 4 | ||
| Sep 1, 2026 | AlTi Global, Inc.10% owner | Buy | 0 | Form 4 | ||
| Sep 1, 2026 | TIEDEMANN ADVISORS, LLC10% owner | Buy | 465,142 | $10.75 | $5.0M | Form 4 |
| May 1, 2025 | Pack Joshua ACo-Chief Executive Officer | Buy | 4,791 | $10.44 | $50.0K | Form 4 |
| Dec 1, 2024 | Pack Joshua ACo-Chief Executive Officer | Buy | 9,738 | $10.27 | $100.0K | Form 4 |
| Oct 1, 2024 | AlTi Wealth Management Holdings, LLC10% owner | Buy | 306,127 | $10.13 | $3.1M | Form 4 |
| Sep 3, 2024 | AlTi Wealth Management Holdings, LLC10% owner | Buy | 395,946 | $10.10 | $4.0M | Form 4 |
| Aug 1, 2024 | AlTi Global Topco Ltd10% owner | Buy | 257,824 | $10.08 | $2.6M | Form 4 |
| Jul 1, 2024 | TIEDEMANN ADVISORS, LLC10% owner | Buy | 387,254 | $10.07 | $3.9M | Form 4 |
| Jun 3, 2024 | AlTi Global Topco Ltd10% owner | Buy | 327,960 | $10.06 | $3.3M | Form 4 |
| May 1, 2024 | AlTi Global Topco Ltd10% owner | Buy | 258,537 | $10.06 | $2.6M | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- TIEDEMANN ADVISORS, LLCSCHEDULE 13G/A, 8 filings Nov 15, 2024 to Sep 9, 202630
Money raised
Private offerings the company reported to the SEC on Form D.
- Jun 1, 2023Raised $1.8 billion in a private offering of equity Form D: 7,019 investors so far Form D
SEC filer profile
How Fortress Net Lease REIT is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARFortress Net Lease REIT1
- CIK0001966394
- Employer ID (EIN)92-19371216
- Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company6
- Incorporated inMaryland6
- Fiscal year endsDecember 311
- Industry code (SIC)6798 Real Estate Investment Trusts1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address1345 Avenue Of The Americas, New York, NY 101051
- Phone212-798-61001
- Shares outstanding4,219,303,000 Class S Common Stock shares; 18,998,006,000 Class I Common Stock shares; 25,608,395,000 Common Class FS shares; 72,754,383,000 Common Class FI shares; 37,583,680,000 Class DS Common Stock shares; 2,581,895,000 Common Class E shares as of Mar 26, 20266
- Public float$0 as of Dec 31, 20253
- AuditorDeloitte & Touche LLP, New York, New York PCAOB ID 34; no auditor attestation of internal control over financial reporting6
- On EDGAR sinceMay 30, 20231
- Filings143 in all: 8-K (77), 4 (22), 10-Q (8), 3 (7), D/A (6), SCHEDULE 13G/A (5), UPLOAD (4), 10-12G/A (3)1
All 15 form types
CORRESP (3), 10-K (2), SCHEDULE 13G (2), 10-12G (1), 8-A12G (1), D (1), SC 13G (1)
- Latest filingsAnnual report (10-K) Mar 26, 2026
Quarterly report (10-Q) Aug 11, 2026
Latest 8-K (8-K) Oct 13, 2026
Risk factors and legal proceedings
The risks Fortress Net Lease REIT names in Item 1A of its 10-K filed Mar 26, 2026: 78 risks under these headings, as written.6
- Risks Related to Our Business and Operations
- We are subject to risks related to the ownership of commercial real estate that could affect the performance and value of our properties.
- We have limited opportunities to increase rents under our long-term leases with tenants, which could impede our growth and materially and adversely affect us.
- We may be limited in the number and type of investments we make and the value of your investment in us will fluctuate with the performance of the specific assets we acquire.
- We face risks associated with the deployment of our capital.
- If we are unable to successfully integrate new investments and manage our growth, our results of operations and financial condition may suffer.
- Our data centers may not be suitable for re-leasing without significant expenditures or renovations.
- Adverse economic conditions, including the resulting effect on consumer spending, could have a material and adverse effect on our business, financial condition, results of operations and cash flows.
- Global economic, political and market conditions may adversely affect our business, financial condition and results of operations, including our revenue growth and profitability.
- The valuation of our investments may not be certain or transparent as a result of the highly volatile environments we operate in.
- Adverse economic conditions and other events or occurrences that negatively affect the general economy in the United States or in markets in which our properties are geographically concentrated may materially and adversely affect our results of operations.
- Tenant and industry concentrations may make us more susceptible to adverse events than if our portfolio were more diversified.
The other 67 risks
- We may be unable to lease vacant space or renew leases or re-lease space on favorable terms as leases expire.
- The vacancy of one or more of our properties could result in us having to incur significant capital expenditures to re-lease the property.
- We are subject to certain risks associated with construction and renovation of our properties.
- We are subject to certain risks related to build-to-suit properties including difficulties to sell or re-let upon tenant defaults or lease terminations and additional risks related to properties under development.
- Certain of our investments may be in the form of ground leases, which provide limited rights to the underlying property.
- We are subject to certain risks associated with the management of our properties.
- Actual or perceived threats associated with epidemics, pandemics or public health crises could have a material adverse effect on our results of operations and the businesses of our tenants.
- We are exposed to potential impacts of future climate change and climate change-related risks.
- Properties occupied by a single tenant pursuant to a single lease subject us to risk of tenant default.
- There are risks associated with the termination or expiration of leases and tenant defaults.
- There are risks associated with Master Leases, including the enforceability of certain terms in connection with tenant bankruptcy proceedings.
- We are subject to certain risks related to difficulties in selling or reletting special use single tenant properties upon tenant defaults or lease terminations.
- Continued government intervention and instability in Europe may adversely affect our business, financial condition and results of operations, including our revenue growth and profitability.
- We may not be able to complete certain desired investments because such investments may be subject to regulatory review and approval requirements, including pursuant to foreign investment regulations and review by governmental entities such as the Committee on Foreign Investment in the United States, or may be ultimately prohibited.
- We are subject to risks investing outside of the United States, including business uncertainties, currency exchange risks and political, social and economic uncertainty.
- We are subject to certain risks related to incurring contingent liabilities in connection with investments, including the assumption by us of default risk or other third-party risks.
- The use of seller financing may increase the risks associated with the use of leverage, including the risk of loss of an investment and the exposure of such investment to adverse economic factors such as deteriorations in overall conditions in the economy, the real estate markets or in the condition of the particular issuer.
- We are subject to certain risks related to using secured leverage, including having such parties seeking recourse against our assets generally, and such recourse may not be limited to any particular investment or asset.
- There are risks associated with entering into financing arrangements, and such arrangements may contain provisions that expose us to particular risk of loss.
- Failure to hedge effectively may materially and adversely affect our financial condition, results of operations, cash flows, cash available for distribution and our ability to service our debt obligations.
- We are subject to additional counterparty risks in connection with engaging in private transactions, which are typically not subject to credit evaluation and regulatory oversight.
- We may be affected by our inability to access or renew short-term financing credit facilities in connection with an anticipated portfolio-level financing.
- We may face risks associated with options, including losing our entire investment due to the volatility of the underlying security or currency.
- We may face risks associated with forward trading, including illiquidity and revenue losses due to disruptions in the market.
- Our performance depends on the collection of rent from our tenants, those tenants’ financial conditions and the ability of those tenants to maintain their leases.
- We may receive below-market value on predetermined fixed price property investments involving repurchase rights.
- Bankruptcy laws may limit our remedies if a tenant becomes bankrupt and rejects the lease and we may be unable to collect balances due on our leases.
- Some net lease provisions included in the written agreements may be determined unenforceable by a court.
- We may invest significantly in real estate-related equity, which is subordinate to any indebtedness, but involves different rights.
- We may invest in equity of other REITs that invest in real estate or real estate debt as one of their core businesses and other real estate-related companies, which subjects us to certain risks including those risks associated with an investment in our common shares.
- Inflation may materially and adversely affect us and our tenants.
- Our business and operations could suffer in the event of system failures or cybersecurity breaches.
- Our business and operations could be adversely affected by developments in artificial intelligence.
- Actions by our competitors in the markets in which we own properties may decrease or prevent increases in the occupancy and rental rates of our properties.
- We could be subject to misconduct and unauthorized conduct from third party providers, which could result in litigation or serious financial harm.
- Compliance with fire, safety and other land use regulations may require us to make unanticipated expenditures that materially and adversely affect us.
- We may not be able to obtain the necessary permits and licenses to invest in certain properties.
- Our access to external sources of capital is subject to factors outside of our control and could materially and adversely affect our growth prospects and our ability to take advantage of strategic opportunities, satisfy debt obligations and make distributions to our shareholders.
- The acquisition of properties involves risks that could materially and adversely affect our business, financial condition, results of operations and cash flows.
- Some of the properties we acquire may be defective and we may experience loss as a result.
- Declining real estate valuations and impairment charges could materially and adversely affect our business, financial condition, results of operations and cash flows.
- There are additional risks associated with sale-leaseback transactions.
- We are exposed to various environmental risks, which may result in unanticipated losses that could affect our business, financial condition, results of operations and cash flows.
- We are exposed to the potential impacts of future climate change and climate change-related risks.
- We may have to incur additional operational and/or compliance costs if EU regulations on data protection and privacy have an extraterritorial effect on our business.
- Insurance on our properties may not adequately cover all losses and uninsured losses could materially and adversely affect us.
- We may obtain only limited representations and warranties when we acquire a property and may only have limited recourse if our due diligence did not identify issues that may subject us to unknown liabilities or lower the value of our property, which could adversely affect our financial condition and ability to make distributions to you.
- The amount of our debt may subject us to increased risk of loss and could adversely affect our results of operations and financial condition.
- We may encounter adverse changes in the credit markets.
- Our investments are substantially illiquid.
- The agreements governing our indebtedness may place restrictions on us and our subsidiaries, reducing operational flexibility and creating default risks, and our failure to comply with all covenants in our existing or future financing agreements could materially and adversely affect us.
- Covenants in the agreements governing our indebtedness could restrict our ability to make distributions to our shareholders necessary to maintain our qualification as a REIT, which could materially and adversely affect us and the NAV of our shares.
- The financial covenants in our loan agreements may restrict our operating or acquisition activities, which may harm our financial condition and operating results.
- An increase in market interest rates may materially and adversely affect us and our tenants.
- The success of any joint venture investments that we may make could be materially and adversely affected by our lack of sole decision-making authority, our reliance on joint venture partners’ financial condition and liquidity and disputes between us and our joint venture partners.
- Compliance or failure to comply with regulatory requirements could result in substantial costs.
- We may be subject to litigation or threatened litigation, which may divert management’s time and attention, require us to pay damages and expenses or restrict the operation of our business.
- We may use our assets or return of investor’s distributions to pay for existing exculpation and indemnification obligations.
- Investments could become subject to condemnation actions.
- Some of our sales and purchases of real property may be canceled and reclaimed if there is later determined to have been a fraudulent transaction.
- Sustainability risks may have a greater impact on us than that assessed by the Adviser.
- Uncertainty about U.S. federal initiatives could negatively impact our business, financial condition and results of operations.
- Risks Related to Our Relationship with Fortress, Our Adviser and the Management Agreement
- We depend on the Adviser to select our investments and otherwise conduct our business, and any material adverse change in its financial condition or our relationship with the Adviser could have a material adverse effect on our business and ability to achieve our investment objectives.
- The Adviser’s inability to retain the services of key professionals could hurt our performance.
- We pay incentive and management fees and other expenses to our Adviser and the Special Limited Partner, which payments increase the risk that you will not earn a profit on your investment.
- There are conflicts of interest in our relationships with our Adviser, which could result in outcomes that are not in our best interests.
- Fortress and certain Fortress Affiliates may face conflicts of interest with respect to services performed for issuers to which the Company may have exposure as landlord.
Legal proceedings
We are not currently subject to any material legal proceedings, nor, to our knowledge, are any material legal proceedings threatened against us. From time to time, we may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of our rights under contracts with our portfolio companies. We may also be subject to regulatory proceedings. While the outcome of these legal or regulatory proceedings cannot be predicted with certainty, we do not expect that these proceedings will have a material effect upon our financial condition or results of operations.
The opening of Item 3, Legal Proceedings.6
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12SEC EDGARAhsan Aijaz, Chief executive officer
- 13
- 14
- 15SEC EDGARDavid Weinreb, Board member
- 16SEC EDGARDeborah D. McWhinney, Board member
- 17SEC EDGARLewis A. Burleigh, Board member
- 18
- 19
- 20
- 21SEC EDGAROther events
- 22
- 23SEC EDGAROther events
- 24
- 25SEC EDGAROther events
- 26
- 27
- 28SEC EDGAROther events
- 29
- 30