Volume XV No. 21 | Friday, May 22, 2026
Weekly Highlights
CORE UNIVERSITY LIVING REAL ESTATE INCOME TRUST (PRIVATE PLACEMENT REIT)
5/18/2026 10-12G
Type: Private Placement REIT
Primary: Unlimited - Class D, E, F-D, F-I, F-S, I, and S Shares
The Company filed its initial prospectus. The fund intends to own and manage a diversified portfolio of core and core-plus student housing properties primarily in Tier 1 Markets.
KKR REAL ESTATE SELECT TRUST INC. (TENDER OFFER FUND)
5/20/2026 424B3
The Adviser agreed to waive its incentive fee for the period beginning 5/20/26 through 6/30/27.
Press Room
Private Placement REITs Gain Momentum as Performance and Fundraising Strengthen (5/21/2026)
Stanger published the Q1 2026 edition of Stanger Privates. Private placement REITs continued to expand in Q1 2026, with aggregate NAV reaching $33.1 billion — up 9.4% from Q4 2025 and 52.2% year-over-year. These vehicles now represent 26.9% of the $123 billion non-listed REIT market, up from 25.1% at year-end 2025 and 16.5% at year-end 2024. Fundraising activity also remained elevated. Private placement REITs raised $2.3 billion in Q1 2026, the second-highest quarterly total on record and an 8.5% increase over Q1 2025. Trailing twelve-month fundraising reached $9.8 billion through March 2026, slightly above the $9.6 billion raised in full-year 2025. Fund-by-fund fundraising detail, published exclusively in Stanger Privates, is available in this edition. “Capital continues to flow toward private placement real estate vehicles, and performance is validating that shift,” said Kevin T. Gannon, Chairman & CEO of Stanger. “Private NAV REITs have delivered more than 360 basis points of outperformance over their publicly registered counterparts during the past year, driven by newer portfolios built closer to current market pricing and limited legacy asset drag. With redemption queues clear and fundraising near record levels, the case for hard assets with low obsolescence is being made in the data.”
The above is an abbreviated version of an official Stanger press release. View the Full Press Release →
Stanger published its preliminary Non-Traded REIT Pricing Table for April 2026.
View the April 2026 REIT Pricing Table →
Current Reports
BDCs
AB PRIVATE LENDING FUND
5/20/2026 8-K
The Company reported its April 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 $0.1M.
April March Class I: $24.72 $24.66
The Company declared May 2026 distributions, payable on or about 6/30/26:
May April Gross Dist: $0.20 $0.20 Record Date: 5/29/26
APOLLO DEBT SOLUTIONS BDC
5/19/2026 8-K
The Company reported its April 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 $9.2M.
April March All Classes: $23.92 $23.90
The Company declared May 2026 distributions, payable on or about 6/29/26:
May April Gross Dist: $0.1800 $0.1800 Record Date: 5/31/26
ARES STRATEGIC INCOME FUND
5/19/2026 8-K 424B3
The Company reported its April 2026 NAV per share (table below) and disclosed the sale of unregistered Class I shares pursuant to Regulation S for total consideration of $52.1M.
April March All Classes: $26.95 $26.85
The Company previously declared May 2026 distributions, payable on or about 6/24/26:
May April Gross Dist: $0.21430 $0.21430 Record Date: 5/29/26
BLACKSTONE PRIVATE CREDIT FUND
5/21/2026 8-K
The Company reported its April 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 $52.3M.
April March All Classes: $24.06 $24.19
The Company declared May 2026 distributions, payable on or about 6/25/26:
May April Gross Dist: $0.2000 $0.2000 Record Date: 5/31/26
5/21/2026 424B3
The Company amended the “Investment Objectives and Strategies” section of its prospectus and attached its 10-Q report.
CRESCENT PRIVATE CREDIT INCOME CORP
5/18/2026 8-K
The Company held its annual meeting where stockholders elected two Class II Directors and ratified the selection of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending 12/31/26.
FIRST EAGLE PRIVATE CREDIT FUND
5/21/2026 8-K
The Company reported its April 2026 NAV per share:
April March Common: $23.90 $23.95
The Company declared May 2026 distributions, payable on or about 6/29/26:
May April Gross Dist: $0.210 $0.210 Record Date: 5/29/26
GOLUB CAPITAL PRIVATE CREDIT FUND
5/18/2026 424B3
The Company amended the “Suitability Standards” section of its prospectus and attached its 10-Q report.
HPS CORPORATE LENDING FUND
5/19/2026 8-K
The Company entered into a supplemental indenture related to the issuance of $600M of its 6.300% notes due 2031. The notes offering closed on 5/19/26 with net proceeds of $594.3M.
MONROE CAPITAL ENHANCED CORPORATE LENDING FUND
5/20/2026 8-K 424B3
The Company reported its April 2026 NAV per share:
April March Class I: $25.76 $25.74
The Company declared May 2026 distributions, payable on or about 6/24/26:
May April Gross Dist: $0.20 $0.20 Record Date: 5/29/26
NEXPOINT CAPITAL, INC.
5/21/2026 8-K
The Company reported its new NAV per share:
4/30/26 3/31/26 All Classes: $4.40 $4.30
OAKTREE STRATEGIC CREDIT FUND
5/20/2026 8-K Update
The Company provided an update to shareholders for the quarter ended 3/31/26.
PGIM PRIVATE CREDIT FUND
5/21/2026 424B3
The Company amended the “Management of the Fund” section of its prospectus and attached its 10-Q report.
TPG TWIN BROOK CAPITAL INCOME FUND
5/21/2026 8-K
The Company provided its Q1 2026 portfolio update.
NAV REITs
APOLLO REALTY INCOME SOLUTIONS, INC.
5/18/2026 424B3
The Company reported its April 2026 NAV per share (table below) and attached its 10-Q report.
April March Class S: $21.1849 $21.1746 Class D: $21.2771 $21.2521 Class I: $21.0680 $21.0372 Class F-I: $21.0052 $20.9697 Class A-I: $21.6121 $21.5595 Class A-III: $21.5549 $21.5029 Class E: $21.7013 $21.6478 OP Class A-I: $21.6121 $21.5595 OP Class E: $21.7013 $21.6478
BLACKSTONE REAL ESTATE INCOME TRUST, INC.
5/15/2026 424B3
The Company reported its April 2026 NAV per share (table below) and attached its 10-Q report.
April March Class I: $14.3527 $14.2535 Class S: $14.3413 $14.2423 Class S-2: $14.3413 $14.2423 Class D: $13.9880 $13.8928 Class D-2: $13.9880 $13.8928 Class T: $14.0944 $13.9980 Class T-2: $14.0944 $13.9980 Class C: $16.7334 $16.5542 Class L: $14.3768 $14.2703 OP Units: $14.3527 $14.2535
5/21/2026 8-K
The Company provided a summary of its Q1 2026 update presentation, highlighted by a 2.0% quarterly net return.
CANTOR FITZGERALD INCOME TRUST, INC.
5/15/2026 424B3
The Company reported its April 2026 NAV per share (table below), announced it satisfied 43.1% of April 2026 repurchase requests (17.0% in March), and attached its 10-Q report.
April March Class AX: $20.34 $20.22 Class IX: $20.34 $20.22 Class I: $20.34 $20.22 Class TX: $20.32 $20.20 Class T: $20.32 $20.20 Class D: $20.33 $20.21 Class S: $20.32 $20.20 Class I OP Units: $20.34 $20.22 Class T OP Units: $20.33 $20.21
COTTONWOOD COMMUNITIES, INC.
5/15/2026 8-K 424B3
The Company reported its April 2026 NAV per share (table below) and issued and sold shares of its 9/19/23 offering of Series A convertible preferred stock for aggregate proceeds of $1.5M.
April March All Classes: $11.3409 $11.3416
The Company declared May 2026 distributions, payable in June 2026:
May April Gross Dist: $0.0566666 $0.05666667 Record Date: 5/31/26
5/18/2026 8-K
The Company issued and sold shares of its 12/9/24 offering of Series 2025 preferred stock for aggregate proceeds of $2.5M.
IPC ALTERNATIVE REAL ESTATE INCOME TRUST, INC.
5/15/2026 424B3
The Company reported its April 2026 NAV per share (table below) and attached its 10-Q report.
April March Class T: $23.6066 $23.5774 Class D: $23.5677 $23.5324 Class I: $23.5451 $23.5130 Class A: $23.7991 $23.7521 Class X-1: $23.5215 $23.4771
J.P. MORGAN REAL ESTATE INCOME TRUST, INC.
5/19/2026 424B3
The Company amended its Independent Director Compensation Policy and attached its 10-Q report.
NUVEEN GLOBAL CITIES REIT, INC.
5/20/2026 8-K
The Company declared April 2026 distributions, payable on or about 5/20/26:
April March Gross Dist: $0.06322359 $0.06353547 Record Date: 4/29/26
RREEF PROPERTY TRUST, INC.
5/15/2026 424B3
The Company reported its May 2026 redemption price per share:
May April Class A: $13.10 $13.11 Class I: $13.19 $13.20 Class T: $13.25 $13.25 Class D: $13.22 $13.23 Class M-I: $13.08 $13.10 Class T2: $13.02 $13.03 Class N: $13.10 $13.11
5/20/2026 424B3
The Company reported a $444.8M estimated value of its investments in real estate as of 3/31/26, updated the “Experts” section of its prospectus, and attached its 10-Q report.
Private Placement REITs
ARES INDUSTRIAL REAL ESTATE INCOME TRUST INC.
5/15/2026 8-K
The Company reported its April 2026 NAV per share:
April March All Classes: $13.2483 $13.2083
The Company declared April 2026 distributions:
April March Gross Dist: $0.05250 $0.05250 Record Date: 4/30/26
ARES REAL ESTATE INCOME TRUST INC.
5/15/2026 8-K
The Company reported its April 2026 NAV per share:
April March All Classes: $8.1640 $8.1467
The Company declared April 2026 distributions:
April March Gross Dist: $0.03450 $0.03450 Record Date: 4/30/26
BLUE OWL DIGITAL INFRASTRUCTURE TRUST
5/19/2026 8-K
The Company reported its April 2026 NAV per share (table below) and disclosed the sale of unregistered Class S, D, and I common shares for gross proceeds of approximately $21.7M.
April March Class S: $10.2967 $10.1789 Class D: $10.2969 $10.1791 Class I: $10.2970 $10.1792 Class E: $10.4233 $10.2702 Class I OP Units: $10.2970 $10.1792 Class E OP Units: $10.4233 $10.2702
The Company declared April 2026 distributions, payable on or about 5/18/26:
April March Gross Dist: $0.0416667 $0.0375000 Record Date: 4/30/26
BLUE OWL REAL ESTATE NET LEASE TRUST
5/19/2026 8-K
The Company reported its April 2026 NAV per share (table below) and disclosed the sale of unregistered Class I common shares for gross proceeds of approximately $36.8M.
April March Class S: $10.5871 $10.5692 Class N: $10.6752 $10.6571 Class D: $10.4481 $10.4312 Class I: $10.6629 $10.6443 OP Units: $10.6629 $10.6443
EXCHANGERIGHT INCOME FUND
5/18/2026 8-K
The Company declared April 2026 distributions, payable on or about 5/15/26:
April March Gross Dist: $0.1449 $0.1449 Record Date: 4/30/26
5/20/2026 8-K
The Company disclosed the sale of unregistered Class D shares for gross proceeds of approximately $0.84M.
FORTRESS CREDIT REALTY INCOME TRUST
5/20/2026 8-K
The Company reported its April 2026 NAV per share:
April March Class B: $20.0101 $20.0252 Class R: $19.8628 $19.8789 Class J-1: $19.8695 $19.8856 Class J-2: $19.8536 $19.8697 Class J-4: $20.0982 $20.1153 Class S: $20.0708 $20.0891 Class I: $20.0638 $20.0815 Class E: $19.9905 $20.0059
FORTRESS NET LEASE REIT
5/20/2026 8-K
The Company reported its April 2026 NAV per share:
April March Class S: $10.4102 $10.4024 Class I: $10.4826 $10.4635 Class F-S: $10.5171 $10.4879 Class F-I: $10.5862 $10.5556 Class D-S: $10.8876 $10.8443 Class E: $10.9541 $10.9104
FRANKLIN BSP REAL ESTATE DEBT, INC.
5/15/2026 8-K
The Company declared April 2026 distributions, paid on 5/14/26:
April March Gross Dist: $0.1900 $0.1900 Record Date: 4/30/26
NORTH HAVEN NET REIT
5/15/2026 8-K
The Company disclosed the sale of unregistered Class I and F-I common shares for aggregate consideration of approximately $4.3M.
RITHM PERPETUAL LIFE RESIDENTIAL TRUST
5/15/2026 8-K
The Company reported its April 2026 NAV per share:
April March Class J: $20.1562 $20.1520 Class E: $20.2389 $20.2140
SCULPTOR DIVERSIFIED REAL ESTATE INCOME TRUST, INC.
5/15/2026 8-K
The Company reported its April 2026 NAV per share (table below) and announced the resignations of Ellen Conti from her positions as CFO, Treasurer, and a member of the Board, and Scott Ciccone from his position as CAO, each effective 5/15/26. Ms. Conti’s and Mr. Ciccone’s resignations were not due to any disagreements with the Company. In connection, the Company appointed Anthony Boni to serve as CFO, Treasurer, and a member of the Board and appointed Christine Yap to serve as CAO.
April March Class E: $11.7825 $11.7704 Class F: $11.4619 $11.4611 Class FF: $11.3174 $11.3175 Class AA: $11.2214 $11.2212 Class A: $11.1127 $11.1149 Class I-S: $11.0683 $11.0707 OP Units: $11.7825 $11.7704
Closed-End Funds
AB TAX-AWARE CREDIT OPPORTUNITIES FUND (INTERVAL FUND)
5/19/2026 N-2
Type: Interval Fund
Primary: Unlimited - Class A and Advisor Shares
The Company filed its initial prospectus. The fund intends to invest in credit investments, including tax-exempt municipal securities, taxable municipals and taxable securities.
CITY NATIONAL ROCHDALE STRATEGIC CREDIT FUND (INTERVAL FUND)
5/18/2026 424B3
The Board approved a new investment management agreement and sub-advisory agreement with American Beacon, subject to shareholder approval. Upon approval, American Beacon would become the Company’s Adviser, CIFC would continue to serve as Sub-Adviser, and the Company would be rebranded as an American Beacon Fund. These changes are expected to occur in the third or fourth quarter of 2026.
CLEARLAKE PRIVATE MARKETS FUND (INTERVAL FUND)
5/21/2026 N-2
Type: Interval Fund
Primary: Unlimited - Class A, I, and S Shares
The Company filed its initial prospectus. The fund intends to invest in private equity funds and continuation vehicles through bespoke, privately negotiated transactions.
MEKETA INFRASTRUCTURE FUND (INTERVAL FUND)
5/15/2026 424B3
The Company filed an updated prospectus for its offering of Class I, II, and III Shares.
NUVEEN ENHANCED CORPORATE OPPORTUNITIES FUND (INTERVAL FUND)
5/19/2026 N-2/A
Type: Interval Fund
Primary: Unlimited - Class A1, A2, and I Shares
The Company filed an amended prospectus. The fund intends to invest in corporate credit investments such as domestic and foreign corporate debt obligations, fixed and floating rate corporate loans, debt and equity tranches of CLOs and more.
OCTAGON XAI CLO INCOME FUND (INTERVAL FUND)
5/19/2026 424B3
The Board approved, subject to shareholder approval, the appointment of Rockford Tower Asset Management, L.L.C. as the new Sub-Adviser of the Company, replacing Octagon Credit Investors, LLC, effective on or about 7/30/26. In connection, the Company will broaden its investment strategy to include opportunistic investments in ABS and BDCs and will change its name to “XAI CLO & Income Opportunities Fund.”
POMONA INVESTMENT FUND (TENDER OFFER FUND)
5/19/2026 424B3
The Company amended the “Management of the Fund” section of its prospectus.
SEI CARLYLE PRIVATE MARKETS FUND (INTERVAL FUND)
5/15/2026 N-2
Type: Interval Fund
Primary: Unlimited - Class F Shares
The Company filed its initial prospectus. The fund intends to invest primarily in private market instruments through underlying funds managed, sponsored, or advised by Carlyle and SEI, along with select direct and co-investments.
WVB BLACKSTONE ALL PRIVATES FUND (TENDER OFFER FUND)
5/20/2026 N-2/A
Type: Tender Offer Fund
Primary: Unlimited - Class A, I, and M Shares
The Company filed an amended prospectus. The fund intends to invest primarily in pooled investment vehicles sponsored by affiliates of Blackstone Inc. directly or indirectly, and other investments that provide exposure to a broad range of asset classes and geographies in private markets.
Lifecycle REITs
HIGHLANDS REIT, INC.
5/18/2026 8-K Notice
The Company filed a copy of a website notice to its stockholders recommending they reject an unsolicited mini-tender offer from an unaffiliated third party, MacKenzie Capital Management, LP., who is offering to purchase shares of common stock at a price of $0.04 per share. The most recent estimated value per share was $0.29 per share as of 3/31/26.
INPOINT COMMERCIAL REAL ESTATE INCOME, INC.
5/15/2026 8-K
The Company reported its April 2026 NAV per share:
April March Class P: $13.3925 $13.4884 Class A: $13.4392 $13.5351 Class T: $13.5764 $13.6705 Class D: $13.4700 $13.5645 Class I: $13.4410 $13.5369
STRATEGIC STORAGE TRUST VI, INC.
5/19/2026 8-K Press Release
The Company issued a press release discussing its financial results for the three months ended 3/31/26.
Other Alts
AB PRIVATE CREDIT INVESTORS CORP (PRIVATE PLACEMENT BDC)
5/15/2026 8-K
A subsidiary of the Company exercised an option under its credit agreement to increase lender commitments from $150M to $200M.
AGL PRIVATE CREDIT INCOME FUND (PRIVATE PLACEMENT BDC)
5/20/2026 8-K
The Company amended its LLC agreement with certain Vintage Strategies-managed vehicles and AIMCo in connection with the transfer of $54M of LLC interests in AGL EPCI I, an unconsolidated entity, including the admission of AIMCo and two additional Vintage Strategies-managed vehicles as new members.
BRAEMAR HOTELS & RESORTS INC. (NON-TRADED PREFERRED)
5/21/2026 8-K Press Release
The Company declared and set aside May 2026 distributions:
May April Series E: $0.15625 $0.15625 Series M CUSIPs: 10482B705: $0.17917 $0.17917 10482B887: $0.17917 $0.17917 10482B796: $0.17917 $0.17917 10482B861: $0.17917 $0.17917 10482B770: $0.17708 $0.17708 10482B846: $0.17708 $0.17708 All others: $0.17708 Record Date: 5/29/26
