Private company

Blue Owl Real Estate Net Lease Trust

American real estate company based in Chicago, incorporated in Maryland.

Last updated Oct 18, 2026.

Overview

$465.0MNet income, fiscal 2025²

IndustryReal Estate
HeadquartersChicago, United States
Incorporated inMD³
Business address150 N. Riverside, Fl 37, Chicago, Il 60606³
Filer category, Emerging growth company³

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

6.6%Return on equity²

Financial statements

Net income²$465.0M in 2025

Fiscal year	2022	2023	2024	2025
Interest		$121.9M⁷
Income tax		$230.0K²	$3.8M²	$774.0K²
Net income		-$19.9M²	$160.3M²	$465.0M²
Earnings per share		-$0.14²	$0.49²	$0.79²
Earnings per share (diluted)		-$0.12²	$0.49²	$0.79²

Total assets⁷⁸²$10.9B in 2025+245% since 2022

Total liabilities⁷⁸²$3.5B in 2025+65% since 2022

Shareholders’ equity⁷⁸²$7.0B in 2025+853% since 2022

Cash⁸²$119.4M in 2025+309% since 2022

Fiscal year	2022	2023	2024	2025
Cash	$29.2M⁸	$59.1M²	$112.7M²	$119.4M²
Total assets	$3.2B⁷	$4.4B⁸	$6.4B²	$10.9B²
Total liabilities	$2.1B⁷	$2.3B⁸	$2.1B²	$3.5B²
Shareholders’ equity	$736.1M⁷	$1.8B⁸	$3.9B²	$7.0B²

Cash from operations²$395.5M in 2025+170% since 2023

Dividends paid²$198.1M in 2025+321% since 2023

Share buybacks²$454.2M in 2025+1081% since 2023

Fiscal year	2022	2023	2024	2025
Cash from operations		$146.3M²	$173.2M²	$395.5M²
Dividends paid		$47.1M²	$112.1M²	$198.1M²
Share buybacks		$38.5M²	$205.3M²	$454.2M²
Dividend per share		$0.70²	$0.70²	$0.70²

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Leadership

Who has led Blue Owl Real Estate Net Lease Trust, and when. Pick a name to see everywhere that person has worked.

Chief executive

Marc Zahr2023–now

President

Chief financial officer

Kevin Halleran2023

Chief operating officer

Michael Reiter2023–now

2025

Chief executive officerMarc Zahr Jun 5, 2023 to now¹¹
PresidentGary Rozier Mar 21, 2025 to now¹²
PresidentMarc Zahr Jun 5, 2023 to Jan 21, 2025¹¹
Chief financial officerKevin Halleran Jun 5, 2023 to Jun 5, 2023¹³
Chief operating officerMichael Reiter Jun 5, 2023 to now¹⁴

Board members and other officers (11)

SecretaryAndrew James Morris Mar 21, 2025 to now¹⁵
Chief Acquisitions OfficerJared Sheiker Mar 21, 2025 to now¹⁶
Chief Investment OfficerJesse Hom Mar 21, 2025 to now¹⁷
Chief Accounting OfficerLauren Hamilton Jun 5, 2023 to Jun 5, 2023¹⁸
Board memberAlan Kirshenbaum Jun 5, 2023 to now¹⁹
Board memberFred A. Cummings Jun 5, 2023 to now²⁰
Board memberJonathan Shames Jun 5, 2023 to now²¹
Board memberMarc Zahr Jun 5, 2023 to now¹¹
Board memberMichael Mackey Jun 5, 2023 to now²²
Board memberMichael Reiter Jun 5, 2023 to now¹⁴
Board memberRichard J. Buoncore Jun 5, 2023 to now²³

Former names

Oak Street Net Lease TrustAug 31, 2022 to Jul 6, 2023³

Timeline

Jun 5, 2023New chief executive Marc Zahr becomes CEO¹¹
Sep 1, 2022Funding Raised $9.2 billion in a private offering of securities²⁴
Apr 4, 2022Founded Blue Owl Real Estate Net Lease Trust is founded²⁵

Recent filings

Oct 5, 20268-K
Sep 18, 20264
Sep 18, 20268-K
Sep 17, 20268-K/A
Sep 3, 20268-K
Aug 19, 20268-K
Aug 12, 202610-Q
Aug 5, 20268-K
Jul 20, 20268-K
Jul 8, 20268-K
Jul 6, 20268-K
Jun 25, 20268-K
Jun 18, 20268-K
Jun 3, 20268-K
May 19, 20268-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.¹

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARBlue Owl Real Estate Net Lease Trust filings on SEC EDGAR
2
SEC EDGARBlue Owl Real Estate Net Lease Trust 10-K for fiscal 2025
3
SEC EDGARBlue Owl Real Estate Net Lease Trust filings on SEC EDGAR
4
SEC EDGARBlue Owl Real Estate Net Lease Trust 10-Q for fiscal 2025
5
SEC EDGARBlue Owl Real Estate Net Lease Trust 10-Q for fiscal 2025
6
SEC EDGARBlue Owl Real Estate Net Lease Trust 10-Q for fiscal 2025
7
SEC EDGARBlue Owl Real Estate Net Lease Trust 10-K for fiscal 2023
8
SEC EDGARBlue Owl Real Estate Net Lease Trust 10-K for fiscal 2023
9
SEC EDGARBlue Owl Real Estate Net Lease Trust 10-Q for fiscal 2025
10
SEC EDGARBlue Owl Real Estate Net Lease Trust 10-Q for fiscal 2025
11
SEC EDGARMarc Zahr, Chief executive officer
12
SEC EDGARGary Rozier, President
13
SEC EDGARKevin Halleran, Chief financial officer
14
SEC EDGARMichael Reiter, Chief operating officer
15
SEC EDGARAndrew James Morris, Secretary
16
SEC EDGARJared Sheiker, Chief Acquisitions Officer
17
SEC EDGARJesse Hom, Chief Investment Officer
18
SEC EDGARLauren Hamilton, Chief Accounting Officer
19
SEC EDGARAlan Kirshenbaum, Board member
20
SEC EDGARFred A. Cummings, Board member
21
SEC EDGARJonathan Shames, Board member
22
SEC EDGARMichael Mackey, Board member
23
SEC EDGARRichard J. Buoncore, Board member
24
SEC EDGARRaised $9.2 billion in a private offering of securities
25
gleifBlue Owl Real Estate Net Lease Trust is founded