Volume XV No. 30 | Friday, July 24, 2026
Press Room
Stanger Submits Comment Letter to SEC Regarding Preemption of State Securities Law Registration and Qualification Requirements for all Registered Offerings (7/23/2026)
Kevin T. Gannon, Chairman and CEO of Robert A. Stanger & Co has submitted his comment letter to the SEC regarding preemption of State securities law registration and qualification requirements for all registered offerings.
View the Full Letter →
Stanger published its preliminary Non-Traded REIT Pricing Table for June 2026.
View the June 2026 REIT Pricing Table →
Weekly Highlights
ARES REAL ESTATE INCOME TRUST INC. (PRIVATE PLACEMENT REIT)
7/17/2026 8-K
The Company reported that its joint venture with an affiliated private fund acquired all of the outstanding common shares and operating partnership units of Whitestone REIT (NYSE: WSR) and its operating partnership. Through the transaction, the Company acquired an approximate 28% interest in Whitestone’s portfolio, consisting of nine stabilized, core-plus properties in Arizona and Texas, for approximately $473M. The portfolio comprises approximately 1 million square feet of grocery-anchored and unanchored, service-oriented shopping centers located in the high-barrier-to-entry, affluent submarkets of Phoenix, Austin, Dallas/Fort Worth, and Houston.
GREENBACKER RENEWABLE ENERGY CO LLC (NON-TRADED PREFERRED)
7/22/2026 8-K Press Release
The Company entered into a merger agreement to be acquired by MN8 Energy in a cash-and-equity transaction valued at up to approximately $375M, including $350M payable at closing and up to $25M of additional contingent consideration tied to the achievement of certain commercial milestones. The transaction is expected to close in Q4’26, subject to shareholder, member, and regulatory approvals.
VENTURE LENDING & LEASING IX, INC. (PRIVATE PLACEMENT BDC)
7/22/2026 15-12G 8-K
The Company held a special meeting where shareholders approved the liquidation of the Company. In connection, the Company terminated the registration of its common stock and its status as a BDC.
Current Reports
BDCs
AB PRIVATE LENDING FUND
7/21/2026 8-K
The Company reported its June 2026 NAV per share (table below) and disclosed the sale of unregistered Class I shares to feeder vehicle pursuant to Regulation S for total consideration of $0.2M.
June May Class I: $24.60 $24.72
The Company declared July 2026 distributions, payable on or about 8/31/26:
July June Gross Dist: $0.20 $0.20 Record Date: 7/31/26
APOLLO DEBT SOLUTIONS BDC
7/17/2026 424B3
The Company issued $750M aggregate principal amount of 6.350% notes due 2033. The notes will mature on 6/30/33. In addition, the Company amended the “Suitability Standards” section of its prospectus with regards to Pennsylvania investors.
7/23/2026 8-K
The Company reported its June 2026 NAV per share (table below) and disclosed the sale of unregistered Class I shares to feeder vehicle pursuant to Regulation S for total consideration of $4.4M.
June May All Classes: $23.83 $23.87
The Company declared July 2026 distributions, payable on or about 8/28/26:
July June Gross Dist: $0.1800 $0.1800 Record Date: 7/31/26
ARES STRATEGIC INCOME FUND
7/21/2026 8-K 424B3
The Company reported its June 2026 NAV per share (table below) and disclosed the sale of unregistered Class I shares pursuant to Regulation S for total consideration of $32.2M.
June May All Classes: $26.71 $27.00
The Company previously declared July 2026 distributions, payable on or about 8/21/26:
July June Gross Dist: $0.21430 $0.21430 Record Date: 7/31/26
BAIN CAPITAL PRIVATE CREDIT
7/17/2026 8-K
The Company amended its senior secured revolving credit agreement to increase the total facility amount from $650M to $750M and increase the accordion provision that allows the Company, under certain circumstances, to increase the term and revolving commitments under the credit agreement from a maximum size of $800M to $1B.
BLACKSTONE PRIVATE CREDIT FUND
7/23/2026 8-K
The Company reported its June 2026 NAV per share (table below) and disclosed the sale of unregistered Class I shares to feeder vehicles pursuant to Regulation S for consideration of $23.1M.
June May All Classes: $23.65 $23.94
The Company declared July 2026 distributions, payable on or about 8/27/26:
July June Gross Dist: $0.1800 $0.2000 Record Date: 7/31/26
BLUE OWL CAPITAL CORP II
7/20/2026 8-K Letter
The Company declared a Q3 2026 return of capital distribution payable on 7/22/26 (table below). This distribution represents 7.5% of NAV as of 12/31/25. The July monthly dividend of $0.03 per share is scheduled to be paid on or before 7/29/26.
Q3 2026 Q2 2026 Gross Dist: $0.62 $0.42 Record Date: 7/21/26
BLUE OWL CREDIT INCOME CORP.
7/24/2026 8-K
The Company reported its June 2026 NAV per share (table below) and disclosed the sale of unregistered Class I common shares to feeder vehicles pursuant to Regulation S for total consideration of $2.1M.
June May Class S: $9.05 $9.12 Class D: $9.06 $9.13 Class I: $9.08 $9.15
The Company previously declared July 2026 distributions, payable on or before 8/31/26:
July June Gross Dist: $0.0701 $0.0701 Record Date: 7/31/26
BLUE OWL TECHNOLOGY INCOME CORP.
7/24/2026 8-K
The Company reported its June 2026 NAV per share (table below) and disclosed the sale of unregistered Class I common shares to feeder vehicles pursuant to Regulation S for total consideration of $2.7M.
June May All Classes: $9.70 $9.84
The Company previously declared July 2026 distributions, payable on or before 8/31/26:
July June Gross Dist: $0.074775 $0.074775 Record Date: 7/31/26
FIRST EAGLE PRIVATE CREDIT FUND
7/23/2026 8-K
The Company reported its June 2026 NAV per share:
June May Common: $23.79 $23.86
The Company declared July 2026 distributions, payable on or about 8/28/26:
July June Gross Dist: $0.210 $0.210 Record Date: 7/31/26
MONROE CAPITAL ENHANCED CORPORATE LENDING FUND
7/20/2026 8-K 424B3
The Company reported its June 2026 NAV per share:
June May Class I: $25.85 $25.65
The Company declared July 2026 distributions, payable on or about 8/24/26.
July June Gross Dist: $0.187 $0.200 Record Date: 7/31/26
NAV REITs
APOLLO REALTY INCOME SOLUTIONS, INC.
7/20/2026 424B3
The Company reported its June 2026 NAV per share (table below), amended the “Suitability Standards” section of its prospectus, and updated its Subscription Agreement.
June May Class S: $21.2079 $21.1975 Class D: $21.2753 $21.2790 Class I: $21.0630 $21.0682 Class F-I: $21.0059 $21.0085 Class A-I: $21.6377 $21.6280 Class A-III: $21.5787 $21.5695 Class E: $21.7288 $21.7184 OP Class A-I: $21.6377 $21.6280 OP Class E: $21.7288 $21.7184
BLACKSTONE REAL ESTATE INCOME TRUST, INC.
7/20/2026 8-K
The Company disclosed the sale of unregistered Class L shares for an aggregate consideration of $70M.
7/23/2026 8-K 424B3
The Company reported its June 2026 NAV per share (table below) and reported its preliminary estimated same property NOI for the six months ended 6/30/26, highlighted by a ~3% increase YoY.
June May Class I: $14.5256 $14.4253 Class S: $14.5134 $14.4136 Class S-2: $14.5134 $14.4136 Class D: $14.1525 $14.0569 Class D-2: $14.1525 $14.0569 Class T: $14.2621 $14.1649 Class T-2: $14.2621 $14.1649 Class C: $17.0646 $16.8827 Class L: $14.5658 $14.4581 OP Units: $14.5256 $14.4253
7/24/2026 8-K
The Company provided a summary of its Q2 2026 update presentation.
COTTONWOOD COMMUNITIES, INC.
7/21/2026 424B3
The Company reported its June 2026 NAV per share (table below) and announced the acquisitions of The Orchards at Cherry Creek Park, a 240-unit multifamily community in Centennial, Colorado, for $62.4M, of which $43.6M was paid with the issuance of OP Units, and 5 Row Apartments, a 128-unit multifamily community in Charlottesville, Virginia, for $40.9M.
June May All Classes: $11.3127 $11.3465
The Company declared July 2026 distributions, payable in August 2026:
July June Gross Dist: $0.05666667 $0.05666667 Record Date: 7/31/26
FS CREDIT REAL ESTATE INCOME TRUST, INC.
7/17/2026 424B3
The Company reported its June 2026 NAV per share:
June May Class S: $24.7613 $24.7792 Class T: $24.5010 $24.5203 Class D: $24.5548 $24.5742 Class M: $24.6254 $24.6433 Class I: $23.8409 $23.8603 Class F: $25.1388 $25.1510 Class Y: $23.8282 $23.8463
HINES GLOBAL INCOME TRUST, INC.
7/17/2026 8-K 424B3
The Company reported its June 2026 NAV per share:
June May All Classes: $9.78 $9.81
The Company declared July 2026 distributions, payable on 8/3/26:
July June Gross Dist: $0.052 $0.052 Record Date: 7/31/26
7/21/2026 8-K Press Release
The Company issued a press release announcing its acquisition of Design Center of the Carolinas, a 239,000-square-foot retail property and workspace located in Charlotte, North Carolina, for a purchase price of approximately $170M, excluding transaction costs and closing prorations.
INVESCO REAL ESTATE INCOME TRUST INC.
7/17/2026 8-K 424B3
The Company reported its June 2026 NAV per share (table below) and announced the acquisition of Imperial Beach Self-Storage, an 85% occupied, 626-unit storage facility located in La Habra, California, for a purchase price of $15.6M inclusive of acquisition-related costs.
June May Class T: $26.0994 $26.0937 Class S: $26.1045 $26.1167 Class D: $26.1190 $26.1138 Class I: $26.2702 $26.2640 Class E: $28.3732 $28.3329 Class N: $27.7857 $27.7587 Class S-PR: $26.9625 $26.9704 Class K-PR: $26.9527 $26.9608
J.P. MORGAN REAL ESTATE INCOME TRUST, INC.
7/17/2026 8-K
A subsidiary of the Company amended its master repurchase agreement with U.S. Bank National Association to increase the maximum aggregate purchase price from $250M to $400M.
NUVEEN GLOBAL CITIES REIT, INC.
7/17/2026 424B3
The Company reported its June 2026 NAV per share (table below) and announced the acquisition of Fruit Valley Logistics Center, a 100% leased, Class A light industrial property located in the West Vancouver submarket of the Portland, Oregon MSA for $13M.
June May Class T: $11.24 $11.29 Class S: $11.10 $11.15 Class D: $11.26 $11.32 Class I: $11.22 $11.28 Class N: $11.69 $11.74
7/23/2026 8-K
The Company declared June 2026 distributions, payable on or about 7/23/26:
June May Gross Dist: $0.06316609 $0.06358076 Record Date: 6/29/26
RREEF PROPERTY TRUST, INC.
7/20/2026 424B3
The Company reported its July 2026 redemption price per share:
July June Class A: $13.14 $13.09 Class I: $13.23 $13.18 Class T: $13.28 $13.22 Class D: $13.26 $13.20 Class M-I: $13.11 $13.06 Class T2: $13.05 $13.00 Class N: $13.13 $13.09
STARWOOD REAL ESTATE INCOME TRUST, INC.
7/17/2026 424B3
The Company reported its June 2026 NAV per share:
June May Class S: $19.69 $19.72 Class T: $19.70 $19.72 Class D: $19.27 $19.30 Class I: $19.52 $19.54 OP Units: $19.52 $19.54
Private Placement REITs
AB COMMERCIAL REAL ESTATE PRIVATE DEBT FUND, LLC
7/20/2026 8-K
A subsidiary of the Company amended its fee letter with Citibank to increase the facility amount from $500M to $750M.
ARES INDUSTRIAL REAL ESTATE INCOME TRUST INC.
7/17/2026 8-K
The Company reported its June 2026 NAV per share:
June May All Classes: $13.3101 $13.2898
The Company declared June 2026 distributions:
June May Gross Dist: $0.05250 $0.05250 Record Date: 6/30/26
ARES REAL ESTATE INCOME TRUST INC.
7/17/2026 8-K
The Company reported its June 2026 NAV per share:
June May All Classes: $8.2229 $8.1908
The Company declared June 2026 distributions:
June May Gross Dist: $0.03450 $0.03450 Record Date: 6/30/26
BLUE OWL DIGITAL INFRASTRUCTURE TRUST
7/20/2026 8-K
The Company reported its June 2026 NAV per share (table below) and disclosed the sale of unregistered Class S, I, and E common shares for gross proceeds of approximately $131.7M.
June May Class S: $10.4126 $10.3168 Class D: $10.4128 $10.3170 Class I: $10.4129 $10.3171 Class E: $10.5928 $10.4640 Class I OP Units: $10.4129 $10.3171 Class E OP Units: $10.5928 $10.4640
The Company declared June 2026 distributions, payable on or about 7/17/26.
June May Gross Dist: $0.0416667 $0.0416667 Record Date: 6/30/26
BLUE OWL REAL ESTATE NET LEASE TRUST
7/20/2026 8-K
The Company reported its June 2026 NAV per share (table below) and disclosed the sale of unregistered Class I common shares for gross proceeds of approximately $22.9M.
June May Class S: $10.6215 $10.6218 Class N: $10.7115 $10.7109 Class D: $10.4769 $10.4819 Class I: $10.6988 $10.6982 OP Units: $10.6988 $10.6982
CNL STRATEGIC RESIDENTIAL CREDIT, INC.
7/17/2026 8-K
The Company amended its guaranty agreement with Goldman Sachs Bank USA to extend the period during which it is required to maintain a lower cash liquidity covenant under the agreement to eleven months following 1/30/26.
EXCHANGERIGHT INCOME FUND
7/22/2026 8-K
The Company reported its June 2026 NAV per share:
June March All Classes: $27.63 $27.58
The Company declared June 2026 distributions, payable on or about 7/15/26:
June May Gross Dist: $0.1449 $0.1449 Record Date: 6/30/26
FORTRESS CREDIT REALTY INCOME TRUST
7/22/2026 8-K
The Company reported its June 2026 NAV per share:
June May Class B: $19.9756 $20.0097 Class R: $19.8263 $19.8612 Class J-1: $19.8331 $19.8680 Class J-2: $19.8170 $19.8520 Class J-4: $20.0602 $20.0940 Class S: $20.0292 $20.0653 Class I: $20.0217 $20.0584 Class E: $19.9561 $19.9904 Class F-I: $20.0278 $20.0673 Class F-S: $20.0364 $20.0750
FORTRESS NET LEASE REIT
7/22/2026 8-K
The Company reported its June 2026 NAV per share:
June May Class S: $10.5031 $10.4688 Class I: $10.5840 $10.5423 Class F-S: $10.6370 $10.5823 Class F-I: $10.7073 $10.6526 Class D-S: $11.0473 $10.9739 Class E: $11.1116 $11.0405
INVESCO COMMERCIAL REAL ESTATE FINANCE TRUST, INC.
7/17/2026 8-K
The Company reported its June 2026 NAV per share:
June May Class S-1: $25.0524 $25.0074 Class I: $25.0144 $24.9699 Class S: $24.9405 $24.8956 Class E: $26.0209 $25.9443 Class D: $24.9166 $24.8719 Class F: $26.1515 $26.0649 Class D-1: $24.9509 $24.9060
SCULPTOR DIVERSIFIED REAL ESTATE INCOME TRUST, INC.
7/17/2026 8-K/A
The Company amended its 8-K filed on 5/7/26 to provide supplemental financial information related to the Company’s acquisition of the JW Marriott Marco Island Beach Resort through its investment in MIH Member JV.
Closed-End Funds
A&Q LONG/SHORT STRATEGIES FUND LLC (TENDER OFFER FUND)
7/17/2026 424B3
The Company updated its investor eligibility requirements to reflect the SEC’s increased “qualified client” thresholds, raising the minimum net worth requirement from $2.2M to $2.7M and the AUM requirement from $1.1M to $1.4M, effective 6/29/26, and appointed Caroline Rosenberg as Principal Accounting Officer and Secretary, replacing Martin Fuchs, effective 6/22/26.
A&Q MULTI-STRATEGY FUND (TENDER OFFER FUND)
7/17/2026 424B3
The Company updated its investor eligibility requirements to reflect the SEC’s increased “qualified client” thresholds, raising the minimum net worth requirement from $2.2M to $2.7M and the AUM requirement from $1.1M to $1.4M, effective 6/29/26, and appointed Caroline Rosenberg as Principal Accounting Officer and Secretary, replacing Martin Fuchs, effective 6/22/26.
ADVISOR LINX PRIVATE STRATEGIES FUND (TENDER OFFER FUND)
7/17/2026 N-2/A
Type: Tender Offer Fund
Primary: Unlimited - Class I Shares
The Company filed an amended prospectus. The fund intends to invest in a portfolio of funds that invest in a variety of asset classes, including private equity, private credit, private real estate, infrastructure, commodities, and hedge fund strategies.
CLEARLAKE PRIVATE MARKETS FUND (INTERVAL FUND)
7/24/2026 N-2/A
Type: Interval Fund
Primary: Unlimited - Class A, I, and S Shares
The Company filed an amended prospectus. The fund intends to invest in private equity funds and continuation vehicles through bespoke, privately negotiated transactions.
FT VEST TOTAL RETURN INCOME FUND: SERIES A2 (TENDER OFFER FUND)
7/17/2026 EFFECT N-2/A
Type: Tender Offer Fund
Primary: Unlimited - Class A and I Shares
The Company’s public offering went effective. The fund invests primarily in U.S. exchange-traded equity securities contained in the S&P 500 Index.
LINCOLN BAIN CAPITAL TOTAL CREDIT FUND (INTERVAL FUND)
7/20/2026 424B3
The Company reported that its investment adviser has agreed to temporarily waive its investment management fee in its entirety from 2/1/26 through 1/31/27. The waiver cannot be terminated early without Board approval, and the investment management fee will revert to 1.00% of the Company’s gross assets following the waiver period.
LINCOLN PARTNERS GROUP ROYALTY FUND (TENDER OFFER FUND)
7/20/2026 424B3
The Company reported that its investment adviser has agreed to a temporary 50% waiver of its investment management fee, reducing the effective fee rate to 0.625% of the greater of the Company’s NAV or NAV less cash and cash equivalents plus undrawn investment commitments from 2/1/26 through 1/31/27. The waiver cannot be terminated early without Board approval, and the investment management fee will return to 1.25% following the waiver period.
VARIANT ALTERNATIVE LENDING FUND (INTERVAL FUND)
7/23/2026 N-2
Type: Interval Fund
Primary: Unlimited - Institutional Class and Access Class Shares
The Company filed an updated prospectus. The fund invests in senior secured alternative income-generating lending investments.
WVB ALL MARKETS FUND (INTERVAL FUND)
7/21/2026 424B3
The Company amended the “Management of the Fund” and “Plan of Distribution” sections of its prospectus.
WVB BLACKSTONE ALL PRIVATES FUND (TENDER OFFER FUND)
7/21/2026 424B3
The Company amended the “Management of the Fund” and “Plan of Distribution” sections of its prospectus.
Lifecycle REITs
PROCACCIANTI HOTEL REIT, INC.
7/23/2026 8-K
The Company authorized the payment of Q2 2026 distributions for Class K and K-I shares and Class K OP Units reflecting accrual rates of 7% per annum (same as Q1 2026).
Other Alts
KKR ENHANCED US DIRECT LENDING FUND-L INC. (PRIVATE PLACEMENT BDC)
7/17/2026 8-K
The Board appointed Ms. Annette O’Donnell-Butner as Chief Compliance Officer of the Company, effective as of 7/8/26, in connection with the resignation of Mr. Mike Nguyen from the same position. Mr. Nguyen’s resignation was not due to any disagreement with the Company.
TCW DIRECT LENDING LLC (PRIVATE PLACEMENT BDC)
7/22/2026 8-K
The Company held its annual meeting where shareholders re-elected one Class I director to the Board, ratified the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending 12/31/26, and approved the extension of the Company’s term for an additional year.
TCW DIRECT LENDING VII LLC (PRIVATE PLACEMENT BDC)
7/22/2026 8-K
The Company held its annual meeting where shareholders re-elected three Class I directors to the Board and ratified the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending 12/31/26.
TCW DIRECT LENDING VIII LLC (PRIVATE PLACEMENT BDC)
7/22/2026 8-K
The Company held its annual meeting where shareholders re-elected three Class I directors to the Board and ratified the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending 12/31/26.
TCW STAR DIRECT LENDING LLC (PRIVATE PLACEMENT BDC)
7/22/2026 8-K
The Company held its annual meeting where shareholders re-elected three Class I directors to the Board and ratified the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending 12/31/26.
