Fortress Net Lease REIT subsidiaries secure $347.5M loan from Bank of America

Fortress Net Lease REIT

Loan principal of up to $347.5M; maturity September 19, 2028 with two one-year extension options to 2030.
Interest rate: Monthly SOFR plus 1.70% per annum; prepayable at any time without premium or penalty.
Loan secured by substantially all assets of borrowers FNLR Logistics LLC and FNLR Grocery LLC.
Operating Partnership provided a carveout guaranty covering bad-boy events and financial covenants.
Proceeds used for property acquisition costs, fees, and expenses related to the loan.

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