{"url_path":"/sec/cik-0001944366/8-k/2026-07-20/item-8-01","section_key":"item-8-01","section_title":"Item 8.01 Other Events.","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-20","source_url":"https://www.sec.gov/Archives/edgar/data/1944366/0001944366-26-000058-index.html","accession_number":"0001944366-26-000058","cik":"0001944366","ticker":null,"issuer_name":"Blue Owl Real Estate Net Lease Trust","edgar_url":"https://www.sec.gov/Archives/edgar/data/1944366/0001944366-26-000058-index.html","primary_entity_key":"0001944366","primary_entity_name":"Blue Owl Real Estate Net Lease Trust"},"word_count":498,"has_tables":true,"body_markdown":"Item 8.01. Other Events.\n\nJune 30, 2026 NAV Per Share\n\nThe NAV per share for each class of our common shares as of June 30, 2026 is set forth below:\n\nNAV per share\n\nClass S$10.6215 \n\nClass N\n$10.7115 \n\nClass D$10.4769 \n\nClass I$10.6988 \n\nA detailed calculation of the NAV per share is set forth below. We calculate NAV per share in accordance with the valuation guidelines that have been approved by our Board of Trustees. Our total NAV presented in the following tables includes the NAV of our Class S, Class N, Class D, and Class I common shares, as well as the partnership interests of Blue Owl NLT Operating Partnership LP (“NLT OP”) held by parties other than the Company. The following table provides a breakdown of the major components of our NAV as of June 30, 2026 ($ in thousands):\n\nComponents of NAVJune 30, 2026\n\nCash and cash equivalents $614,145 \n\nRestricted cash53,566 \n\nInvestments in real estate\n4,823,306 \n\nInvestment in leases - financing receivables596,606 \n\nInvestments in real estate debt1,834,523 \n\nIntangible assets\n311,236 \n\nInvestments in unconsolidated real estate affiliates4,417,070 \n\nOther assets74,087 \n\nMortgage notes and credit facility(1,699,512)\n\nUnsecured senior notes, net\n(126,791)\n\nOther borrowings(441,777)\n\nDue to affiliates(53,133)\n\nDST financing obligation(714,785)\n\nAccounts payable and accrued expenses(191,883)\n\nOther liabilities(97,574)\n\nNet Asset Value $9,399,084 \n\nNumber of outstanding shares/units881,231,469 \n\nThe following table provides a breakdown of our total NAV and NAV per share/unit by class as of June 30, 2026 ($ in thousands, except per share/unit data):\n\nNAV per shareClass S SharesClass N SharesClass D Shares\nClass I Shares\n\nThird-Party Operating Partnership Units (1)\nTotal\n\nMonthly NAV$3,738,249 $602,361 $120,674 $4,527,558 $410,242 $9,399,084 \n\nNumber of outstanding shares/units 351,949,97956,234,89311,518,112423,183,80038,344,685881,231,469\n\nNAV Per Share/Unit as of June 30, 2026\n$10.6215 $10.7115 $10.4769 $10.6988 $10.6988 \n\n_______________________\n\n(1)Includes the partnership interests of the NLT OP held by the Special Limited Partners and parties other than the Company.\n\nPortfolio Update ($ in thousands)\n\nAs of June 30, 2026, the Company holds interests in 3,927 properties, of which 281 are wholly-owned, with a remaining weighted average base lease term of 19 years and a remaining weighted average fully extended1 lease term of 39 years, with annual escalations of 2.2%. The Company’s total portfolio assets at fair value are $12,603,444. The Company has a credit rating of BBB2.\n\nAs of June 30, 2026, 100.0% of our consolidated real estate portfolio debt and 80.9% of our total consolidated debt was fixed through fixed-rate debt agreements or interest rate swap transactions. The weighted average interest rate and loan-to-value of our consolidated portfolio were 5.2% and 28.4%, respectively.\n\n1 Assumes tenants exercise all options to extend lease term.\n\n2 Morningstar DBRS finalized the issuer rating at BBB and published its private report on July 19, 2025.\n\nSIGNATURES\n\nPursuant 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.\n\nBlue Owl Real Estate Net Lease Trust\n\nBy:/s/ Kevin Halleran\n\nName:Kevin Halleran\n\nTitle:Chief Financial Officer\n\nDate: July 20, 2026"}