Press release·03/25/2026 04:13:08

Overview

Cantor Fitzgerald Income Trust, Inc. (the “Company”) is a commercial real estate company that invests in and manages a diversified portfolio of income-producing commercial properties, multifamily properties, and other real estate-related assets. The Company was incorporated in Maryland in 2016 and has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.

The Company is externally managed by Cantor Fitzgerald Investment Advisors, L.P. (the “Advisor”), a wholly-owned subsidiary of the Company’s sponsor, Cantor Fitzgerald & Co. (“CFI”). The Company has no employees and relies on the Advisor to manage its day-to-day operations.

As of March 31, 2025, the Company had raised gross proceeds of $487.6 million through its various public offerings and had invested in a portfolio of 43 real properties and a plot of land across the United States. The Company’s investments include retail, office, industrial, multifamily, and life sciences properties, as well as investments in Delaware Statutory Trusts and a data center infrastructure fund.

Financial Performance

For the three months ended March 31, 2025, the Company reported the following key financial results:

• Rental revenues of $19.8 million, an increase of $1.8 million compared to the same period in 2024, primarily due to the acquisition of new income-producing properties.
• No preferred return income or income from mezzanine loan investments, compared to $247,675 and $264,058, respectively, in the prior year period, due to the disposition of these investments.
• Other property operating revenues of $3.9 million, a decrease of $721,873 compared to the same period in 2024, primarily due to a decrease in revenues from the income-producing properties.
• General and administrative expenses of $74,000, an increase of $6,681 compared to the same period in 2024, primarily due to an increase in cash account service charges and maintenance fees.
• Depreciation and amortization of $8.9 million, an increase of $32,713 compared to the same period in 2024, primarily due to the acquisition of new properties.
• Management fees of $1.5 million, a decrease of $145,005 compared to the same period in 2024, due to a decrease in net fundraising and a decrease in the net valuation of the Company’s investment portfolio.
• Property operating expenses of $7.1 million, a decrease of $1.9 million compared to the same period in 2024, primarily due to refunds of certain expenses at the multifamily properties.
• A net loss of $685,197 for the three months ended March 31, 2025.

The Company’s modified funds from operations (MFFO), a non-GAAP measure used to evaluate the Company’s operating performance, was $3.1 million for the three months ended March 31, 2025, compared to $2.7 million for the same period in 2024.

Strengths and Weaknesses

The Company’s key strengths include:

• Diversified portfolio of income-producing commercial and multifamily properties across multiple markets and property types, providing diversification and stability.
• Experienced external management team with a track record of successful real estate investments.
• Access to capital through its public offerings, which have raised over $487 million to date.
• Conservative leverage, with a debt to tangible assets ratio of 54% as of March 31, 2025.
• Stable rental revenues, with a weighted average lease term of 7.3 years (excluding multifamily and data center investments) and a weighted average occupancy of 95.7%.

The Company’s key weaknesses include:

• Reliance on the Advisor and its affiliates for key management and operational functions, which could expose the Company to conflicts of interest.
• Concentration risk, with significant exposure to certain geographic markets (Ohio, Maryland, and Texas) and property types (multifamily, office, and industrial).
• Potential volatility in the Company’s financial performance due to the disposition of higher-yielding investments, such as preferred equity and mezzanine loans.
• Ongoing operating expenses, including management fees and general and administrative expenses, which can impact the Company’s profitability and cash flows.

Outlook and Risks

The Company’s future outlook is cautiously optimistic, as it continues to execute on its strategy of building a diversified portfolio of income-producing commercial and multifamily properties. However, the Company faces several risks that could impact its 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 versus debt investments
• Defaults or non-renewal of leases by tenants
• Competition in the commercial real estate market
• Risks associated with using debt to fund the Company’s activities
• Illiquidity of the Company’s investments
• Information technology and cybersecurity risks
• Regulatory changes affecting non-traded REITs
• General volatility in domestic and international capital markets

To mitigate these risks, the Company will need to continue to carefully underwrite its investments, maintain a conservative leverage profile, and closely monitor its portfolio and the broader market conditions. The Company’s ability to raise additional capital through future public offerings will also be crucial to its long-term success.

Conclusion

Cantor Fitzgerald Income Trust, Inc. is a diversified commercial real estate investment trust that has built a portfolio of income-producing properties across multiple markets and property types. While the Company has faced some challenges, such as the disposition of higher-yielding investments and ongoing operating expenses, it has also demonstrated strengths in its diversified portfolio, experienced management team, and conservative financial profile.

Looking ahead, the Company will need to navigate a range of risks, including market conditions, competition, and regulatory changes, to continue growing and delivering value to its shareholders. Successful execution of its investment strategy, prudent risk management, and the ability to raise additional capital will be key factors in determining the Company’s future performance.