Blue Owl Real Estate Net Lease Trust 8-K

What Happened

• Blue Owl Real Estate Net Lease Trust announced on June 1, 2026 that it sold an aggregate of 15,457,239 common shares for gross proceeds of approximately $164.6 million, based on net asset value per share as of April 30, 2026. The offer and sale were made in reliance on exemptions from registration (Section 4(a)(2), Regulation D and/or Regulation S).
• The company also declared distributions on May 22, 2026 for each class of common shares. The record date for the distributions is May 31, 2026 and payment is expected on or about June 16, 2026. Distributions may be paid in cash or reinvested under the company’s distribution reinvestment plan.

Key Details

• Total shares sold: 15,457,239; total gross proceeds: ~$164.6 million (NAV as of April 30, 2026).
• Sales by share class and gross proceeds:
  • Class S: 5,669,738 shares — $60,525,932 (includes $499,852 in commissions)
  • Class N: 356,153 shares — $3,876,240 (includes $74,240 in commissions)
  • Class D: 1,859,190 shares — $19,469,250 (includes $44,250 in commissions)
  • Class I: 7,572,158 shares — $80,741,160
• Distribution per share (gross $0.0625000): net after shareholder servicing fees
  • Class S: net $0.0548570 (fee $0.0076430)
  • Class N: net $0.0579667 (fee $0.0045333)
  • Class D: net $0.0602816 (fee $0.0022184)
  • Class I: net $0.0625000 (no fee)
• Record date: May 31, 2026; approximate pay date: June 16, 2026.

Why It Matters

• The June 1 share sales raised meaningful capital (~$164.6M) which affects the company’s cash position and available funds — relevant to investors tracking capital raises and potential portfolio activity.
• The declared distribution confirms the company is paying a $0.0625 gross per‑share distribution for this period; net amounts vary by class because of shareholder servicing fees, which matters for income-focused shareholders and those deciding between cash payment or reinvestment.
• The share sale was completed under private offering exemptions (not a registered public offering), a detail important for regulatory and liquidity context.