Private company

Rithm Perpetual Life Residential Trust

Rithm Perpetual Life Residential Trust is an American real estate investment trust based in New York, active since 2025.2

Last updated Oct 20, 2026.

Overview

  • IndustryReal Estate Investment Trusts2
  • HeadquartersLutherville Timonium, United States2
  • Incorporated inMD3
  • Business address2405 York Road, Suite 201, Lutherville-Timonium, Md 210933
  • Filer category, Emerging growth company3
  • Legal formOther2
  • Kind of organizationPooled investment fund2
  • LEI25490070Z9YXPZCGAA982
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O THE CORPORATION TRUST INCORPORATED, 21093-2264 Lutherville Timonium, United States2
  • Registered withBusiness Services (Maryland Department of Assessments and Taxation), B262844302

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The following description of our business should be read in conjunction with the consolidated financial statements and notes thereto included elsewhere in this Annual Report on Form 10‑K for the year ended December 31, 2025. This discussion contains forward‑looking statements that involve risks and uncertainties. Actual results could differ significantly from the results discussed in the forward‑looking statements due to the factors set forth in “Part I.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Fiscal year2025
Cash$638.0K7
Receivables$2.3M7
Total assets$276.5M7
Total liabilities$219.3M7
Retained earnings-$2.7M7
Shareholders’ equity$57.2M7

Compare Rithm Perpetual Life Residential Trust with another company

Corporate structure

Rithm Perpetual Life Residential Trust is part of a group headed by Rithm Capital. 593 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

  • Rithm Capital New York, New York, United States
    • CL Life and Annuity Insurance Company Fort Worth, Texas, United States
    • MILESTONE HOME LENDING, LLC Carmel, Indiana, United States
    • MISSION MORTGAGE LLC Wilmington, Delaware, United States
    • NEW RESIDENTIAL MORTGAGE LLC New York, New York, United States
    • NEWREZ VENTURES LLC Brown Deer, Wisconsin, United States
    • NIC RMBS LLC New York, New York, United States
    • NRZ FNT EXCESS LLC New York, New York, United States
    • Rithm Perpetual Life Residential Trust Lutherville Timonium, Maryland, United States
    • Newrez Subsidiary · Wilmington, Delaware, United States
    • 120 Fifth Holdings LLC Subsidiary · Delaware, United States
    • 4075 WB Holdings LLC Subsidiary · Delaware, United States
    • 4075 WB Owner LLC Subsidiary · Delaware, United States
    • 55 Juneau LLC Subsidiary · Delaware, United States
    • ADOOR HOLDINGS LLC Subsidiary · Delaware, United States
    • ADOOR LLC Subsidiary · Delaware, United States
    • Adoor Management LLC Subsidiary · Delaware, United States
    • Adoor Property Management LLC (JV) Subsidiary · Delaware, United States
    • Advance Purchaser LLC Subsidiary · Delaware, United States
    • Aim High Mortgage, LLC Subsidiary · Delaware, United States
    • Avenue 365 Lender Services, LLC Subsidiary · Pennsylvania, United States
    • Avenue Title Agency, LLC Subsidiary · Delaware, United States
    • Blackwell Properties LLC Subsidiary · Delaware, United States
    • Blackwell Property Acquisitions Parent LLC Subsidiary · Delaware, United States
    • Boulton Properties LLC Subsidiary · Delaware, United States
    • Boulton Property Acquisition Parent LLC Subsidiary · Delaware, United States
    • and 563 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; subsidiaries, stakes and holdings from Wikidata (CC0). Each entity in the chart links to its source.

What it owns

What Rithm Perpetual Life Residential Trust 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.

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$638.0K7 Dec 31, 2025

Properties, in its own words

Our principal office is located at 799 Broadway, New York, NY 10003. 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.

Item 2 of the 10-K filed Mar 6, 2026.4

Leadership

Who has led Rithm Perpetual Life Residential Trust, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Michael Nierenberg2025–now

Chief financial officer

  1. Nicola Santoro Jr.2025–now
Board members and other officers (4)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Co-Chief Investment OfficerCharles Sorrentino named Apr 1, 202614
  • Chief Financial Officer & Chief Accounting OfficerNick Santoro named Apr 1, 202614
  • Independent TrusteeMatthew Whalen named Apr 1, 202614

Subsidiaries and ownership

Parent company (GLEIF)

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Timeline

  1. Oct 15, 20268-K Unregistered sale of shares15
  2. Oct 6, 20268-K Unregistered sale of shares; Regulation FD disclosure16
  3. Sep 15, 20268-K Unregistered sale of shares17
  4. Sep 4, 20268-K Unregistered sale of shares; Regulation FD disclosure18
  5. Aug 17, 20268-K Other events19
  6. Aug 5, 20268-K Unregistered sale of shares; Regulation FD disclosure20
  7. Jul 15, 20268-K Other events21
  8. Jul 2, 20268-K Unregistered sale of shares; Regulation FD disclosure22
  9. Jun 12, 20268-K Other events23
  10. Jun 4, 20268-K Unregistered sale of shares; Regulation FD disclosure24
  11. May 15, 20268-K Other events25
  12. May 6, 20268-K Unregistered sale of shares; Regulation FD disclosure26
  13. Dec 1, 2025New chief executive Michael Nierenberg becomes CEO9
  14. Jul 31, 2025Parent Directly consolidated by Rithm Capital2
  15. Jul 31, 2025Founded Rithm Perpetual Life Residential Trust is founded2

Filings

41 filings to the SEC since October 2021: 1 annual reports, 3 quarterly reports, 21 major events, 12 insider forms, 2 private raises, 2 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Oct 6, 20268-K EDGAR
  3. Sep 15, 20268-K EDGAR
  4. Sep 4, 20268-K EDGAR
  5. Aug 17, 20268-K EDGAR
  6. Aug 10, 202610-Q EDGAR
  7. Aug 5, 20268-K EDGAR
  8. Jul 15, 20268-K EDGAR
  9. Jul 2, 20268-K EDGAR
  10. Jun 12, 20268-K EDGAR
  11. Jun 4, 20268-K EDGAR
  12. May 15, 20268-K EDGAR
  13. May 12, 202610-Q EDGAR
  14. May 6, 20268-K EDGAR
  15. Apr 15, 20268-K EDGAR
  16. Apr 7, 20268-K EDGAR
  17. Apr 1, 2026D/A EDGAR
  18. Mar 16, 20268-K EDGAR
  19. Mar 6, 202610-K EDGAR
  20. Mar 5, 20268-K EDGAR

The 41 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

2 open-market trades by officers, directors and large owners since October 2021: 2 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 2, 2026Sorrentino CharlesCo-CIOBuy14,851$20.20$300.0KForm 4
Jan 2, 2026SANTORO NICOLA JRCFO & CAOBuy15,000$20.00$300.0KForm 4

From Forms 4 filed with the SEC.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Dec 1, 2025Raised $119.3 million in a private offering of securities Form D: 165 investors so far Form D

SEC filer profile

How Rithm Perpetual Life Residential Trust is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARRithm Perpetual Life Residential Trust1
  • CIK0002081628
  • Employer ID (EIN)39-70593854
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inMaryland4
  • Fiscal year endsDecember 311
  • Industry code (SIC)6798 Real Estate Investment Trusts1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business address2405 York Road, Suite 201, Lutherville-Timonium, MD 210931
  • Mailing address799 Broadway, 8Th Floor, New York, NY 100031
  • Phone212 850 77701
  • Shares outstanding5,507,867 Common Beneficial Interest shares; 5,280,279 Common Class J shares; 227,588 Common Class E shares as of Mar 6, 20264
  • Public float$0 as of Sep 30, 20257
  • AuditorErnst & Young LLP, New York, New York PCAOB ID 42; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceOct 1, 20251
  • Filings41 in all: 8-K (21), 3 (7), 4 (5), 10-Q (3), 10-12G (1), 10-12G/A (1), 10-K (1), D (1)1
    All 9 form types

    D/A (1)

  • Latest filingsAnnual report (10-K) Mar 6, 2026
    Quarterly report (10-Q) Aug 10, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
None

From the cover page of the 10-K filed Mar 6, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Rithm Perpetual Life Residential Trust names in Item 1A of its 10-K filed Mar 6, 2026: 76 risks under these headings, as written.4

  • Risks Related to Our Business and Operations
  • We have a limited operating history and there is no assurance that we will be able to successfully achieve our investment objectives.
  • There are no assurances that our Private Offering will raise substantial capital, which may materially adversely affect our ability to achieve our investment objectives.
  • We face risks associated with the deployment of our capital.
  • We are dependent on the Adviser and its affiliates and their key personnel who provide services to us through the Management Agreement, and we may not find a suitable replacement for the Adviser if the Management Agreement is terminated, or for these key personnel if they leave us or otherwise become unavailable to us.
  • The Adviser manages our portfolio pursuant to very broad investment guidelines and generally is not required to seek the approval of our Board for each investment, financing or asset allocation decision made by it, which may result in our making riskier investments and, in turn, may materially and adversely affect us.
  • Our Board may, from time to time, change our investment strategy, including our related operational policies, without providing advance notice to, or obtaining the consent of, our shareholders.
  • There is no public trading market for our shares; therefore, your ability to dispose of your shares will likely be limited to repurchase by us. If you do sell your shares to us, you may receive less than the price you paid.
  • Your ability to have your shares repurchased is limited. We may choose to repurchase fewer shares (or none at all) than have been requested to be repurchased, in our discretion at any time, and the amount of shares we may repurchase is subject to caps. Further, our Board may make exceptions to modify or suspend our share repurchase plan if it deems such action to be in our best interest.
  • Repurchases of common shares issued to the Sponsor, the Adviser or their affiliates may receive priority over other repurchase requests.
  • Economic events that may cause our shareholders to request that we repurchase their shares may materially and adversely affect us.
  • The amount and source of distributions, if any, we may make to our shareholders is uncertain, and we may be unable to generate sufficient cash flows from our operations to make distributions to our shareholders at any time in the future.
The other 65 risks
  • We may fund any distributions from sources other than cash flow from operations, including, without limitation, the sale of or repayment under our assets, borrowings or offering proceeds, and we have no limits on the amounts we may pay from such sources.
  • Purchases and repurchases of our common shares will not be made based on the current NAV per share as of the date of the purchase or repurchase.
  • The NAV per share that we publish may not necessarily reflect changes in our NAV that are not immediately quantifiable.
  • NAV calculations are not governed by governmental or independent securities, financial or accounting rules or standards.
  • Adverse economic conditions, including an economic slowdown or downturn, could have a material adverse effect on us.
  • Global economic, political and market conditions may materially and adversely affect us.
  • Uncertainty with respect to the financial stability of the U.S. could have a significant material adverse effect on us.
  • Inflation risks may have an adverse impact on our returns.
  • We are subject to risks investing outside of the U.S., including business uncertainties, currency exchange risks and political, social and economic uncertainty.
  • We depend on the Adviser to develop appropriate systems and procedures to control operational risk.
  • Our business and operations could suffer in the event of system failures or cybersecurity breaches.
  • We could be subject to misconduct and unauthorized conduct from third party providers, which could result in litigation or serious financial harm.
  • Failure to identify and exclude bad actors could disqualify us from relying on certain rules on which we rely.
  • Risks Related to Our Structure and Organization
  • Our shareholders generally have limited voting rights.
  • Our Declaration of Trust does not provide for the annual election of trustees by our shareholders and contains provisions that could make removal of our trustees difficult, which could make it difficult for our shareholders to effect changes to our management.
  • Our Declaration of Trust permits our Board to authorize us to issue preferred shares on terms that may be senior to the rights of the holders of our current common shares or discourage a third party from acquiring us.
  • Your interest in us will be diluted if we issue additional shares.
  • Maryland law and our Declaration of Trust limit our rights and the rights of our shareholders to recover claims against Covered Persons (as defined below), which could reduce your and our recovery against them if they cause us to incur losses.
  • We are not be required to comply with certain reporting requirements, including those relating to auditor’s attestation reports on the effectiveness of our system of internal control over financial reporting, accounting standards and disclosure about our executive compensation, that apply to other public companies.
  • Our shareholders’ investment return may be reduced if we register as an investment company under the Investment Company Act.
  • Failure to obtain and maintain an exemption from being regulated as a commodity pool operator could subject us to additional regulation and compliance requirements that could materially and adversely affect us.
  • Our bylaws designate the Circuit Court for Baltimore City, Maryland or, if such state court does not have jurisdiction, the U.S. District Court for the District of Maryland, Northern Division, as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our shareholders, which could limit our shareholders’ ability to bring a claim in a judicial forum that the shareholders believe is a more favorable judicial forum for disputes with us or our trustees, officers or other employees.
  • Our conflict of interest policy may not be successful in eliminating the influence of future conflicts of interest that may arise between us and our trustees, officers and employees.
  • The ownership limits that apply to REITs, as prescribed by the Code and by our Declaration of Trust, may restrict our business combination opportunities.
  • If the Adviser or an affiliate thereof forms funds that invest with us in an Aggregator Entity (as defined below), we may be subject to certain additional risks.
  • Risks Related to Our Investments Generally
  • Our loans and other investments expose us to risks associated with debt-oriented real estate investments generally.
  • Residential mortgage loans and other pools of residential mortgage loans that we may acquire are subject to delinquency, foreclosure and loss, which could result in losses to us.
  • Our success depends on the availability of attractive investment opportunities.
  • We operate in a highly competitive market for investment opportunities and competition may limit our ability to originate and/or acquire desirable investments in our target assets and could also affect the pricing of these assets.
  • Real estate valuation is inherently subjective and uncertain.
  • The valuation of our investments may not be certain or transparent as a result of the highly volatile environments we operate in.
  • If the Adviser overestimates the yields or incorrectly prices the risks of our investments, we may experience losses.
  • Declining real estate valuations and impairment charges could materially and adversely affect our business, financial condition, results of operations and cash flows.
  • Investment ratings that we may use are relative and subjective.
  • Any credit ratings assigned to our investments will be subject to ongoing evaluations and revisions and we cannot assure you that those ratings will not be downgraded.
  • We may invest in undervalued loans and other instruments.
  • The due diligence process that the Adviser undertakes in regard to investment opportunities may not reveal all facts that may be relevant in connection with an investment, and if the Adviser incorrectly evaluates the risks of our investments, we may experience losses.
  • 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.
  • The operating and financial risks of obligors and the underlying default risk across capital structures may adversely affect our results of operations and financial condition.
  • If we are unable to successfully integrate new assets or businesses and manage our growth, we could be materially and adversely affected.
  • We may be unable to restructure loans in a manner that we believe maximizes value, particularly if we are one of multiple creditors in large capital structures.
  • We may be subject to risks associated with future advance obligations, such as declining real estate values and operating performance.
  • Difficulty in redeploying the proceeds from repayments of our loans and investments may cause our financial performance and returns to investors to suffer.
  • Prepayment rates may adversely affect the value of our investment portfolio.
  • The limited liquidity in our investments may materially and adversely affect us.
  • Interest rate fluctuations could reduce our ability to generate income on our investments and may cause losses.
  • We may be exposed to environmental liabilities with respect to properties underlying our investments.
  • Our investments may be concentrated and are subject to risk of default.
  • 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.
  • We may be subject to liability or “equitable subordination” as a result of borrower lawsuits.
  • Investments in real estate debt are subject to risks including various creditor risks and early redemption features which may materially adversely affect our results of operations and financial condition.
  • Debt-oriented real estate investments face a number of general market-related risks that can affect the creditworthiness of borrowers, and modifications to certain loan structures and market terms make it more difficult to monitor and evaluate investments.
  • Although obtaining collateral from counterparties is intended to help mitigate our potential exposure to a default by or the insolvency of a counterparty, such risks cannot be completely removed.
  • We may face material risks around security arrangements.
  • Investments outside the United States that are denominated in foreign currencies subject us to foreign currency risks and to the uncertainty of foreign laws and markets, which may adversely affect our distributions and our REIT status.
  • Solicitation of refinancings by Affiliated Service Providers could adversely affect the performance of the affected loans and, consequently, the returns available to our investors.
  • Risks Related to Specific Investments
  • The RTLs in which we may invest may be subject to a greater risk of loss than conventional mortgage loans.
  • Risks of cost overruns and noncompletion of renovations of properties in transition may result in significant losses.
  • We may face risks related to lower credit quality loans.
  • We may be subject to risks associated with construction lending, such as declining real estate values, cost overruns and delays in completion.
  • We may invest in residential bridge “fix and flip” loans, which would expose us to the risk that the borrower of such loan may not be able to sell the property on attractive terms or at all once the property has been re-developed, which may materially and adversely affect us.
  • The NQMs in which we may invest are subject to increased risks.
  • The NQMs in which we invest are subject to increased risk of loss compared to other investments.
  • The residential loans, including NQMs, that we may acquire, originate or invest in may subject us to legal, regulatory and other risks, which could adversely impact our business and financial results.
  • We may be subject to risks associated with “scratch-and-dent” loans.

Legal proceedings

Neither we nor the Adviser is currently subject to any material legal proceedings, nor, to our knowledge, are any material legal proceedings threatened against us or the Adviser. From time to time, we or the Adviser may be a party to certain legal and regulatory proceedings in the ordinary course of business.

The opening of Item 3, Legal Proceedings.4

Sources

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    SEC EDGAROther events
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