Oak Street Net Lease Trust

04/03/2025 | Press release | Distributed by Public on 04/03/2025 14:31

Private Placement (Form 8-K)

Item 3.02. Unregistered Sale of Equity Securities.
On April 1, 2025, Blue Owl Real Estate Net Lease Trust (the "Company," "ORENT" "we" or "us") sold an aggregate of 24,945,569 of its common shares for gross proceeds of approximately $255.1 million, based on net asset value per share as of February 28, 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.
The following table details the common shares sold:
Common shares Number of Shares Sold Gross Proceeds
Class S 10,807,240 $110,176,431*
Class N 5,087,088 $52,662,360*
Class D 299,497 $3,000,000
Class I 8,751,745 $89,271,300
*Gross proceeds for Class S and Class N shares include aggregate commissions, which consist of the sales load and dealer manager fees, of $614,043 and $674,360, respectively.
Item 8.01. Other Events.
On March 28, 2025, the Company declared distributions for each outstanding class of its common shares in the amount per share set forth below:
Gross Distribution Shareholder Servicing Fee Net Distribution
Class S $0.0583333 $(0.0071809) $0.0511524
Class N $0.0583333 $(0.0042582) $0.0540751
Class D $0.0583333 $(0.0020868) $0.0562465
Class I $0.0583333 $- $0.0583333
The net distributions for each class of common shares (which represents the gross distributions less shareholder servicing fees for the applicable class of common shares) are payable to shareholders of record immediately following the close of business on March 31, 2025 and will be paid on or about April 16, 2025. These distributions will be paid in cash or reinvested in shares of the Company's common shares for shareholders participating in the Company's distribution reinvestment plan.