Press release·03/25/2026 04:12:02

Overview

Cantor Fitzgerald Income Trust, Inc. is a commercial real estate company that invests in and manages a diversified portfolio of income-producing properties and other real estate-related assets. The company was originally incorporated in 2016 and has gone through several name changes, most recently becoming Cantor Fitzgerald Income Trust, Inc. in 2020.

The company is externally managed by Cantor Fitzgerald Income Advisor, LLC, a subsidiary of the company’s sponsor, Cantor Fitzgerald. Cantor Fitzgerald Income Trust has registered multiple public offerings with the SEC to raise capital, the latest of which allows it to sell up to $1 billion in shares. As of June 2025, the company has raised over $490 million through these offerings.

Portfolio and Investments

Cantor Fitzgerald Income Trust’s portfolio consists of 43 real estate properties and a plot of land across the United States. The properties include retail, office, industrial, multifamily, and life sciences assets. The company has also made investments in real estate-related debt and an infrastructure fund.

Some key properties in the portfolio include:

• A retail property in Grand Rapids, Michigan
• An office building in Fort Mill, South Carolina
• An office building in Columbus, Ohio
• An industrial property in Lewisville, Texas
• A multifamily property in Landover, Maryland
• An industrial property in Phoenix, Arizona

The company owns these properties either directly or through joint ventures and Delaware Statutory Trusts. As of June 2025, the portfolio has a weighted average occupancy of 95.1% and a weighted average remaining lease term of 7.0 years for the net lease properties.

The company’s investments are diversified by property type, with 33.3% in multifamily, 25.7% in single-tenant office, 21.4% in single-tenant industrial, 16.9% in single-tenant retail, 1.4% in single-tenant life sciences, and 1.3% in data centers. Geographically, the largest concentrations are in Ohio (23.7%), Maryland (20.1%), and Texas (19.2%).

Financial Performance

For the six months ended June 30, 2025, Cantor Fitzgerald Income Trust reported the following financial results:

• Rental revenues of $39.6 million, up from $36.1 million in the prior year period
• No preferred return income or income from mezzanine loans, compared to $495,000 and $528,000 respectively in the prior year
• Other property operating revenues of $9.0 million, down from $11.8 million in the prior year
• Net loss of $3.4 million, compared to a net loss of $3.6 million in the prior year
• Modified Funds from Operations (MFFO) of $4.5 million, compared to $5.0 million in the prior year

The increase in rental revenues was primarily due to the acquisition of new properties, while the decreases in preferred return income, mezzanine loan income, and other property operating revenues were due to the disposition of those investments. The company’s net loss and MFFO declined year-over-year, though MFFO still exceeded the company’s total distributions paid.

Liquidity and Capital Resources

Cantor Fitzgerald Income Trust is dependent on proceeds from its public offerings to fund its operations and investments. As of June 2025, the company has raised over $490 million through its various offerings. The company also uses debt financing, with a debt to tangible assets ratio of 55% as of June 2025.

In addition to making investments, the company uses capital resources to pay fees to its advisor and dealer manager, as well as distributions to shareholders. During the six months ended June 2025, the company paid $9.5 million in distributions, which were covered by operating cash flows.

The company anticipates that over time, adequate cash will be generated from operations to fund its expenses and distributions. However, its ability to finance operations is subject to some uncertainties, such as its ability to attract and retain tenants, the state of real estate markets, and the ability of purchasers to obtain financing.

Risks and Uncertainties

Cantor Fitzgerald Income Trust faces a number of risks and uncertainties that could impact its business and financial performance, including:

• Changes in the company’s business or investment strategy
• Environmental compliance costs and liabilities
• Failures in the advisor’s due diligence process
• Market conditions affecting the availability of equity vs. debt investments
• Defaults, non-renewals, or unfavorable lease terms with tenants
• Competition in the real estate market
• Risks associated with using debt to fund operations
• Illiquidity of the company’s investments
• Information technology and cybersecurity risks
• Ability to maintain REIT status and related tax implications
• Regulatory changes affecting non-traded REITs

The company provides a detailed list of risk factors in its report, noting that these could cause actual results to differ significantly from any forward-looking statements.

Outlook

Cantor Fitzgerald Income Trust continues to execute on its strategy of building a diversified portfolio of income-producing commercial real estate and other real estate-related assets. The company’s recent acquisitions, such as the WAG Portfolio Property and WAG MH Property, have contributed to growth in rental revenues.

However, the company has also seen declines in certain revenue streams like preferred return income and mezzanine loan income due to the disposition of those investments. Additionally, the company reported a net loss for the period, though its MFFO still exceeded total distributions paid.

Going forward, the company’s ability to generate adequate cash flow from operations to fund its expenses and distributions will be crucial. The company faces a number of risks and uncertainties, including market conditions, tenant performance, and regulatory changes, that could impact its financial results.

Overall, Cantor Fitzgerald Income Trust appears to be making progress in building out its real estate portfolio, but will need to navigate a challenging operating environment and manage its risks effectively to deliver consistent performance for shareholders.