Blue Owl Real Estate Net Lease Trust
Raised
$9.2B
Investors
44,524
Min Invest
None stated
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AltStreet Analysis
·Generated from EDGAR primary sources
Blue Owl Real Estate Net Lease Trust is a Maryland-domiciled pooled investment fund (structured as a non-traded REIT) that filed this amended Form D on 2026-08-27, reporting $9,215.6M raised from 44,524 investors under combined 506(b) and 3(c) exemptions. First sale date and minimum investment are not disclosed on the filing; related executives and directors are tied to Blue Owl's real estate management team, though no parent platform record currently exists in the AltStreet database.
Within the alternative_investment category, this filing represents a large-scale, broadly distributed non-traded REIT vehicle rather than a typical narrow-investor private placement — the combined 506(b)/3(c) exemption structure and tens of thousands of investors are consistent with retail/advisor-distributed net-lease real estate funds rather than institutional co-invests or single-deal SPVs. Minimum investment is not disclosed on the public filing, which is typical for this fund type since check sizes are governed by the offering memorandum rather than Form D.
Data Flags
EDGAR Filing Data
Form D — Primary Source
View on SEC.govFilings on Record
Every filing AltStreet's ledger holds for this CIK, newest first. Each opens the SEC archive folder.
AltStreet Coverage
Original reporting from AltStreet's daily EDGAR monitoring covering iCapital and its filings.
Blue Owl Net Lease Trust Form D/A: Investors and Dollars Sold Both Rise 46% in a Year to $9.2 Billion
A Form D/A filed August 27 puts Blue Owl Real Estate Net Lease Trust at 44,524 investors and $9.2 billion sold since inception, both up about 46% from the amendment filed a year earlier, as its September closing added $178.6 million and the $2.45 billion Sila Realty Trust take-private closed on credit-facility borrowings.
This entity · Sep 2026
What Is a Form D Amendment? KKR Infrastructure V's D/A Tops $17 Billion
A Form D amendment updates an existing exempt-offering notice rather than announcing a new raise, and a 2026 filing from a KKR infrastructure fund shows exactly how that distinction plays out in the numbers.
Platform coverage · Sep 2026
iCapital-PEG Evergreen PE Offshore Fund Reports $414M Raised, Up 113% in One Year
A Form D/A filed July 20, 2026 shows total offering proceeds for the iCapital-managed Cayman segregated portfolio company more than doubled versus the prior annual amendment, with investor headcount rising 37% to 224.
Platform coverage · Aug 2026
From 49 to 92 Investors in a Year: A 1972-Vintage Quant Shop Is Quietly Winning the Wealth Channel
The annual Form D amendment iCapital filed August 19 for its Campbell Absolute Return feeder is the kind of document nobody reads — except this one measured something: an 88% jump in investors and $12 million of new capital in twelve months, the largest single-year move AltStreet has recorded for the entity, and a clean data point on how wealth advisers are buying systematic absolute return.
Platform coverage · Aug 2026
iCapital's Blue Owl GP Stakes VI Feeders Report Nearly $816M Sold
The onshore and offshore private-wealth vehicles tied to Blue Owl's GP Stakes VI strategy reported a combined $815.8 million sold and 1,580 investor positions in Aug. 13 SEC amendments, up $16.45 million from their July 2025 filings. The filings show the scale of the iCapital distribution channel, but not when the incremental capital actually arrived.
Platform coverage · Aug 2026
In the Terminal
Filing events
9
latest Aug 27, 2026
Critical / warning
3 / 0
5 watch · 1 info
Statements extracted
0
none on file
NAV prints
0
none on file
Offering chains
1
raising
Latest event Sold increase · Aug 27, 2026
SEC.govInvestor
- The dated record: 43 facts with source, effective date and capture date, viewable as AltStreet knew them on any past day
- 9 filing events with values and deltas, latest 2026-08-27, and alerts on the next one
- 1 offering timeline: velocity, share raised, first-sale lag, stalled flags
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Regulatory Activity
Filing events on this entity detected by AltStreet's EDGAR monitoring. Showing 8 of 12 tracked events.
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Get the signal feedRelated Persons (Form D)
Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.
Item 3 changed on the Form D filed 2026-08-27: 0 related persons added and 1 removed against the filing of 2025-08-27; 12 now listed. The names are in the Terminal feed.
Marc Zahr
Executive Officer, Director · Chicago, IL
Michael Reiter
Executive Officer, Director · Chicago, IL
Alan Kirshenbaum
Director · Chicago, IL
Kevin Halleran
Executive Officer · Chicago, IL
Gary Rozier
Executive Officer · Chicago, IL
Jesse Hom
Executive Officer · Chicago, IL
Jared Sheiker
Executive Officer · Chicago, IL
Andrew Morris
Executive Officer · Chicago, IL
Rick Buoncore
Director · Chicago, IL
Fred Cummings
Director · Chicago, IL
Michael Mackey
Director · Chicago, IL
Jonathan Shames
Director · Chicago, IL
Placement Agents and Sales Compensation (Form D)
Who the issuer reported paying to sell the securities (Form D Item 12), with the FINRA registration number the filer gave. Source: SEC.gov.
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Questions About Blue Owl Real Estate Net Lease Trust
Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.
What is Blue Owl Real Estate Net Lease Trust?
Blue Owl Real Estate Net Lease Trust is a Maryland business trust that filed a Form D with the SEC on August 27, 2026 in the REITS and Finance industry group. The filing claims Rule 506(b), Section 3(c), 3C.5 for an offering of pooled investment fund interests. AltStreet links the issuer to iCapital.
Is Blue Owl Real Estate Net Lease Trust legit?
AltStreet does not rate legitimacy; it reports the public record. Blue Owl Real Estate Net Lease Trust filed a Form D with the SEC on August 27, 2026 claiming Rule 506(b), Section 3(c), 3C.5. A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $9,215,631,136 sold to 44,524 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. The issuer is linked to iCapital, which AltStreet has reviewed. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.
Is Blue Owl Real Estate Net Lease Trust registered with or approved by the SEC?
No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that Blue Owl Real Estate Net Lease Trust claimed Rule 506(b), Section 3(c), 3C.5 and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.
How much has Blue Owl Real Estate Net Lease Trust raised?
Blue Owl Real Estate Net Lease Trust reported $9,215,631,136 sold from 44,524 investors in an offering of indefinite size as of the Form D filed August 27, 2026.
Who can invest in Blue Owl Real Estate Net Lease Trust?
The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. The filing reports no non-accredited investors. The filing lists the minimum investment as $0, meaning no minimum was stated.
What is the minimum investment in Blue Owl Real Estate Net Lease Trust?
The Form D lists the minimum investment as $0, which means the issuer did not state a minimum on the form. The offering documents, not the Form D, set the actual subscription terms.
Who is selling Blue Owl Real Estate Net Lease Trust and how are they paid?
The Form D names Blue Owl Securities LLC (CRD 283250); Morgan Stanley Smith Barney LLC (CRD 149777); UBS Financial Services Inc. (CRD 8174); Stifel, Nicolaus & Company, Incorporated (CRD 793) and 28 others as recipients of sales compensation soliciting in all states.
Who is behind Blue Owl Real Estate Net Lease Trust?
The Form D lists 12 related persons: Marc Zahr, executive officer, director (Chief Executive Officer and Trustee); Michael Reiter, executive officer, director (Chief Operating Officer and Trustee); Alan Kirshenbaum, director (Trustee); Kevin Halleran, executive officer (Chief Financial Officer); Gary Rozier, executive officer (President); Jesse Hom, executive officer (Chief Investment Officer); Jared Sheiker, executive officer (Chief Acquisitions Officer); Andrew Morris, executive officer (Secretary), and 4 more. Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.
Where is Blue Owl Real Estate Net Lease Trust located?
The issuer's address on its SEC filings is 150 N. Riverside, Fl 37, Chicago, IL 60606. Its phone number of record is 888-215-2015. It is organized under the laws of Maryland.
How long is the Blue Owl Real Estate Net Lease Trust offering open?
The issuer indicated that the offering is intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open; 4 amendments are on record for this CIK.
What is Blue Owl Real Estate Net Lease Trust's revenue?
The issuer declined to disclose its revenue range on the Form D, which the form permits.
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Data Methodology
Capital raise figures, investor counts, and filing dates are sourced directly from SEC EDGAR Form D primary documents via the SEC EDGAR submissions API and full-text search index. EDGAR entity profiles and deal-level data are reviewed by AltStreet analysts with backgrounds in corporate finance and securities law — cross-referenced against offering circulars, audited financial statements, and primary regulatory filings before publication. Platform-provided information, where present, is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. Platforms may request factual corrections for demonstrable inaccuracies by contacting [email protected]. This page does not constitute investment advice.