Blue Owl Real Estate Net Lease Trust Files 8-K on Equity Sale

TL;DR

OSNL sold unregistered equity, details TBD.

AI Summary

On August 15, 2025, Blue Owl Real Estate Net Lease Trust (OSNL) filed an 8-K to report on the unregistered sale of equity securities. The filing indicates a transaction involving the issuance of securities not registered under the Securities Act of 1933. Specific details regarding the number of shares, price, and purchasers were not disclosed in the provided excerpt.

Why It Matters

This filing signals a potential dilution of existing shares or a new capital raise for Blue Owl Real Estate Net Lease Trust, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Unregistered sales can sometimes indicate less transparency or potentially more complex deal structures, requiring further investigation into the terms and implications.

Key Players & Entities

• Blue Owl Real Estate Net Lease Trust (company) — Registrant
• OSNL (company) — Ticker Symbol
• August 15, 2025 (date) — Date of earliest event reported
• Maryland (jurisdiction) — State of incorporation
• Chicago, IL (location) — Principal executive offices

FAQ

Key Financial Figures

• $41.4 m — res for gross proceeds of approximately $41.4 million, based on net asset value (" NAV
• $11,908,947 — ompany's total portfolio has a value of $11,908,947, including our proportionate share of j

Filing Documents

• osnl-20250815.htm (8-K) — 59KB
• 0001944366-25-000103.txt ( ) — 170KB
• osnl-20250815.xsd (EX-101.SCH) — 2KB
• osnl-20250815_lab.xml (EX-101.LAB) — 20KB
• osnl-20250815_pre.xml (EX-101.PRE) — 12KB
• osnl-20250815_htm.xml (XML) — 3KB

02. Unregistered Sale of Equity Securities

Item 3.02. Unregistered Sale of Equity Securities. As of August 1, 2025, Blue Owl Real Estate Net Lease Trust (the " Company ", " we ", or " us ") sold 4,008,238 shares of its Class I common shares (with the final number of shares being determined on August 15, 2025) to feeder vehicles primarily created to hold the Company's Class I common shares for gross proceeds of approximately $41.4 million, based on net asset value (" NAV ") per share as of July 31, 2025. The offers and sales of these shares were exempt from the registration provisions of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2), Regulation D and/or Regulation S thereunder.

01. Other Events

Item 8.01. Other Events. July 31, 2025 NAV Per Share The NAV per share for each class of our common shares as of July 31, 2025 is set forth below: NAV per share Class S $ 10.2651 Class N $ 10.3479 Class D $ 10.1394 Class I $ 10.3309 A detailed calculation of the NAV per share is set forth below. We calculate NAV per share in accordance with the valuation guidelines that have been approved by our Board of Trustees. Our total NAV presented in the following tables includes the NAV of our Class S, Class N, Class D, and Class I common shares, as well as the partnership interests of Blue Owl NLT Operating Partnership LP (" NLT OP ") held by parties other than the Company. The following table provides a breakdown of the major components of our NAV as of July 31, 2025 ($ in thousands): Components of NAV July 31, 2025 Cash and cash equivalents $ 170,902 Restricted cash 47,770 Investments in real estate 3,303,527 Investment in leases - financing receivables 314,913 Investments in real estate debt 1,054,928 Intangible assets 213,462 Investments in unconsolidated real estate affiliates 3,464,526 Other assets 38,587 Mortgage notes and credit facility (1,460,429) Unsecured senior notes, net (126,508) Due to affiliates (47,583) Accounts payable and accrued expenses (104,514) Other liabilities (427,877) Net Asset Value $ 6,441,704 Number of outstanding shares/units 625,213,410 The following table provides a breakdown of our total NAV and NAV per share/unit by class as of July 31, 2025 ($ in thousands, except per share/unit data): NAV per share Class S Shares Class N Shares Class D Shares Class I Shares Third - Party Operating Partnership Units (1) Total Monthly NAV $ 2,593,800 $ 390,729 $ 69,752 $ 3,040,076 $ 347,347 $ 6,441,704 Number of outstanding shares/units 252,682,455 37,759,280 6,879,371 294,270,116 33,622,188 625,213,410 NAV Per Share/Unit as of July 31, 2025 $ 10.2651 $ 10.3479 $ 10.1394 $ 10.3309 $ 10.3309 ____________________

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Blue Owl Real Estate Net Lease Trust By: /s/ Kevin Halleran Name: Kevin Halleran Title: Chief Financial Officer Date: August 20, 2025

View Full Filing

View this 8-K filing on SEC EDGAR