Blue Owl Real Estate Trust Raises $219M in Equity Sales

The trust’s latest capital raise spans four share classes and comes alongside cash or reinvested distributions.

January 07, 2026

Capital Raise Totals Over $219 Million

Blue Owl Real Estate Net Lease Trust (ORENT) is growing its capital base with a fresh $219.1 million raised through the sale of nearly 21 million common shares. The transaction closed on January 2, 2026, with pricing based on net asset value as of November 30. Four share classes were included in the raise—each contributing to the total, with Class S and Class I leading the way.

Here’s how it broke down:

• Class S:$119.6 million from roughly 11.4 million shares


• Class I:$83.2 million from about 7.9 million shares


• Class N:$14.3 million from 1.3 million shares


• Class D:$2.1 million from just over 200,000 shares

For Class S and N, proceeds included commissions—sales loads and dealer manager fees—totaling approximately $730,000 and $180,000, respectively. These shares were sold in a private placement under SEC exemptions including Regulation D and Regulation S.

Distributions Declared Across All Share Classes

On the same day the sale was announced, ORENT also declared distributions across all common share classes. Gross distributions came to $0.0583333 per share. After accounting for shareholder servicing fees, net distributions varied slightly by class:

• Class S:$0.0509517


• Class N:$0.0539559


• Class D:$0.0561903


• Class I:$0.0583333

These distributions are scheduled for payment on or around January 19, 2026, to shareholders of record as of December 31. Shareholders can choose to receive them in cash or reinvest through ORENT’s distribution reinvestment plan.

Ongoing Strategy

Together, the equity raise and declared distributions highlight how the trust continues to build momentum. ORENT is using capital inflows to support its portfolio while maintaining consistent returns across investor share classes.