Blue Owl Real Estate Net Lease Trust 8-K

What Happened

• Blue Owl Real Estate Net Lease Trust (ORENT) filed an 8-K reporting that on January 2, 2026 it sold 20,878,998 common shares for aggregate gross proceeds of approximately $219.1 million, priced using net asset value per share as of November 30, 2025. The sales were made in offerings exempt from registration under Section 4(a)(2), Regulation D and/or Regulation S.
• The company also announced distributions on December 22, 2025 for each class of common shares, with a gross distribution of $0.0583333 per share (record date immediately after close of business on December 31, 2025; payable on or about January 19, 2026). Distributions may be paid in cash or reinvested under the company’s distribution reinvestment plan.

Key Details

• Total shares sold: 20,878,998 for gross proceeds of ~$219.1 million (pricing based on NAV as of 11/30/2025).
  • Class S: 11,402,967 shares — $119,561,618 gross (includes $730,162 in aggregate commissions)
  • Class N: 1,344,495 shares — $14,305,050 gross (includes $180,050 in aggregate commissions)
  • Class D: 201,237 shares — $2,070,000 gross
  • Class I: 7,930,299 shares — $83,210,247 gross
• Distribution per share details (gross / shareholder servicing fee / net):
  • Class S: $0.0583333 / $(0.0073816) / $0.0509517
  • Class N: $0.0583333 / $(0.0043774) / $0.0539559
  • Class D: $0.0583333 / $(0.0021430) / $0.0561903
  • Class I: $0.0583333 / $— / $0.0583333
• Record date: immediately after close of business on December 31, 2025; payment date: on/about January 19, 2026.

Why It Matters

• The share sales increased the company’s capital by roughly $219 million, which can affect liquidity and funding for investment activities; the sales were private/exempt offerings (Reg D/S), not a public registered offering.
• The declared December distribution and the net amounts after servicing fees are immediate cash (or reinvestment) returns for shareholders with the effective dates and amounts disclosed, allowing investors to plan for income or reinvestment decisions.