Blue Owl Real Estate Raises $183.7M in Share Sale

The firm also declared distributions for shareholders, with payments set for mid-February.

February 06, 2025

Capital Raise and Share Sale Breakdown

Blue Owl Real Estate Net Lease Trust (ORENT) announced a significant capital infusion through an unregistered sale of equity securities, raising approximately $183.7 million. The transaction, which closed on February 3, 2025, involved the sale of 17,981,645 common shares across multiple share classes. The share pricing was determined based on the net asset value (NAV) per share as of December 31, 2024.

The distribution of shares and proceeds was as follows:

• Class S: 6.87 million shares, raising $70.05 million


• Class N: 2.62 million shares, raising $27.16 million


• Class D: 2.01 million shares, raising $20.48 million


• Class I: 6.48 million shares, raising $66.04 million

A portion of the gross proceeds for Class S, Class N, and Class D shares accounted for sales commissions and dealer management fees, totaling $1.09 million across all three classes. The offering was exempt from registration under the Securities Act of 1933, following exemptions under Section 4(a)(2), Regulation D, and Regulation S.

Distributions Declared for Shareholders

Alongside the capital raise, ORENT declared distributions for its common shareholders on January 27, 2025. The distributions are set per share, varying slightly across different share classes due to shareholder servicing fees.

Here is a breakdown of the distribution per share:

• Class S: Gross: $0.0583| Net: $0.0512


• Class N: Gross: $0.0583| Net: $0.0541


• Class D: Gross: $0.0583| Net: $0.0562


• Class I: Gross and Net: $0.0583(no servicing fee)