Blue Owl Real Estate Net Lease Trust

2024 Q2 Form 10-Q Financial Statement

#000194436624000076 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q2

Balance Sheet

Concept 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $101.6M $46.86M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.577B $384.4M
YoY Change 310.37%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $5.415B $3.843B
YoY Change 40.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $2.201B $2.262B
YoY Change -2.69%
SHAREHOLDERS EQUITY
Retained Earnings -$193.0M -$37.17M
YoY Change 419.33%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.873B $1.286B
YoY Change
Total Liabilities & Shareholders Equity $5.415B $3.843B
YoY Change 40.92%

Cashflow Statement

Concept 2024 Q2 2023 Q2

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q2 us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
15037000 usd
CY2023Q2 us-gaap Sales Type And Direct Financing Leases Interest Income
SalesTypeAndDirectFinancingLeasesInterestIncome
13960000 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
99209000 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
81499000 usd
CY2024Q2 us-gaap Other Liabilities
OtherLiabilities
63948000 usd
CY2023Q4 us-gaap Other Liabilities
OtherLiabilities
47071000 usd
CY2024Q2 us-gaap Liabilities
Liabilities
2201321000 usd
CY2023Q4 us-gaap Liabilities
Liabilities
2259908000 usd
CY2024Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
23687000 usd
CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
17976000 usd
CY2024Q2 osnl Redeemable Common Shares Equity Carrying Value
RedeemableCommonSharesEquityCarryingValue
62068000 usd
CY2023Q4 osnl Redeemable Common Shares Equity Carrying Value
RedeemableCommonSharesEquityCarryingValue
38418000 usd
us-gaap Accounting Standards Update Extensible List
AccountingStandardsUpdateExtensibleList
http://fasb.org/us-gaap/2024#AccountingStandardsUpdate201613Member
CY2024Q2 us-gaap Derivative Asset Statement Of Financial Position Extensible Enumeration
DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2024#OtherAssets
CY2023Q4 us-gaap Derivative Asset Statement Of Financial Position Extensible Enumeration
DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2024#OtherAssets
CY2024Q2 us-gaap Derivative Asset Statement Of Financial Position Extensible Enumeration
DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2024#OtherAssets
CY2023Q4 us-gaap Derivative Asset Statement Of Financial Position Extensible Enumeration
DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2024#OtherAssets
CY2024Q2 us-gaap Line Of Credit
LineOfCredit
0 usd
CY2023Q4 us-gaap Line Of Credit
LineOfCredit
200000000 usd
CY2024Q2 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
106755000 usd
CY2023Q4 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
71750000 usd
CY2024Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
3047387000 usd
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1948355000 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-193046000 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-132638000 usd
CY2024Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
16035000 usd
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
3052000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
2873482000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
1820751000 usd
CY2024Q2 us-gaap Minority Interest
MinorityInterest
254387000 usd
CY2023Q4 us-gaap Minority Interest
MinorityInterest
256715000 usd
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3127869000 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2077466000 usd
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5414945000 usd
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4393768000 usd
CY2024Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
48717000 usd
CY2023Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
44954000 usd
CY2024Q2 us-gaap Lease Income
LeaseIncome
63754000 usd
CY2023Q2 us-gaap Lease Income
LeaseIncome
58914000 usd
CY2024Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
6701000 usd
CY2023Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
3397000 usd
CY2024Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7530000 usd
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4264000 usd
CY2024Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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4849000 usd
CY2023Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
CY2024Q2 us-gaap Management Fee Expense
ManagementFeeExpense
10323000 usd
CY2023Q2 us-gaap Management Fee Expense
ManagementFeeExpense
4986000 usd
CY2024Q2 us-gaap Incentive Fee Expense
IncentiveFeeExpense
8333000 usd
CY2023Q2 us-gaap Incentive Fee Expense
IncentiveFeeExpense
8134000 usd
CY2024Q2 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
23115000 usd
CY2023Q2 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
15562000 usd
CY2024Q2 us-gaap Costs And Expenses
CostsAndExpenses
60851000 usd
CY2023Q2 us-gaap Costs And Expenses
CostsAndExpenses
36343000 usd
CY2024Q2 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
40094000 usd
CY2023Q2 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
13180000 usd
CY2024Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
714000 usd
CY2023Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
0 usd
CY2024Q2 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
31838000 usd
CY2023Q2 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
28207000 usd
CY2024Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
2854000 usd
CY2023Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
2055000 usd
CY2024Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
751000 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
34000 usd
CY2024Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
12575000 usd
CY2023Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-12938000 usd
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
15478000 usd
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
9633000 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1108000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2024Q2 us-gaap Profit Loss
ProfitLoss
14370000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
9633000 usd
CY2024Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1234000 usd
CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1787000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
13136000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
7846000 usd
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
292992195 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
127321209 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
321947289 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
127337421 shares
CY2024Q2 us-gaap Profit Loss
ProfitLoss
14370000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
9633000 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
3230000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
24591000 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-134000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
9000 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-3032000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
5924000 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
64000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
30524000 usd
CY2024Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
14434000 usd
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
40157000 usd
CY2024Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1351000 usd
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
7055000 usd
CY2024Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
13083000 usd
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
33102000 usd
CY2024Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
83000 usd
CY2024Q2 osnl Redeemable Noncontrolling Interest Other Comprehensive Income Loss
RedeemableNoncontrollingInterestOtherComprehensiveIncomeLoss
-13000 usd
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.1751
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
187000 usd
osnl Redeemable Noncontrolling Interest Other Comprehensive Income Loss
RedeemableNoncontrollingInterestOtherComprehensiveIncomeLoss
83000 usd
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.3500
CY2023Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
28000 usd
CY2023Q2 osnl Redeemable Noncontrolling Interest Other Comprehensive Income Loss
RedeemableNoncontrollingInterestOtherComprehensiveIncomeLoss
78000 usd
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.1750
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
-64000 usd
osnl Redeemable Noncontrolling Interest Other Comprehensive Income Loss
RedeemableNoncontrollingInterestOtherComprehensiveIncomeLoss
76000 usd
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.3500
us-gaap Profit Loss
ProfitLoss
30184000 usd
us-gaap Profit Loss
ProfitLoss
22918000 usd
us-gaap Management Fee Expense
ManagementFeeExpense
18804000 usd
us-gaap Management Fee Expense
ManagementFeeExpense
9058000 usd
us-gaap Incentive Fee Expense
IncentiveFeeExpense
15162000 usd
us-gaap Incentive Fee Expense
IncentiveFeeExpense
8134000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
46152000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
28670000 usd
us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
-777000 usd
us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
0 usd
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-9118000 usd
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-8518000 usd
osnl Accretion Income
AccretionIncome
6204000 usd
osnl Accretion Income
AccretionIncome
4966000 usd
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
123000 usd
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
69000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2330000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6430000 usd
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
4849000 usd
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
73394000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
16774000 usd
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
714000 usd
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
0 usd
osnl Operating Right Of Use Asset Liability Amortization
OperatingRightOfUseAssetLiabilityAmortization
327000 usd
osnl Operating Right Of Use Asset Liability Amortization
OperatingRightOfUseAssetLiabilityAmortization
327000 usd
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
1189000 usd
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
0 usd
us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
4396000 usd
us-gaap Amortization Of Deferred Hedge Gains
AmortizationOfDeferredHedgeGains
0 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
251000 usd
osnl Amortization Accretion Of Restricted Stock
AmortizationAccretionOfRestrictedStock
207000 usd
osnl Amortization Accretion Of Restricted Stock
AmortizationAccretionOfRestrictedStock
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us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
46240000 usd
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
5139000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
4693000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
8491000 usd
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
742000 usd
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
816000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
95000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
88000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
6318000 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
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us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
11546000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
4931000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
5604000 usd
us-gaap Net Cash Provided By Used In Operating Activities
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73737000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
77171000 usd
us-gaap Payments To Acquire Other Real Estate
PaymentsToAcquireOtherRealEstate
55671000 usd
us-gaap Payments To Acquire Other Real Estate
PaymentsToAcquireOtherRealEstate
234027000 usd
us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
5260000 usd
us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
0 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
9128000 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 usd
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
1448000 usd
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
58858000 usd
us-gaap Payments For Proceeds From Other Loans And Leases
PaymentsForProceedsFromOtherLoansAndLeases
43378000 usd
us-gaap Payments For Proceeds From Other Loans And Leases
PaymentsForProceedsFromOtherLoansAndLeases
40764000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
45775000 usd
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
9723000 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
16733000 usd
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
23846000 usd
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
559325000 usd
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
366216000 usd
us-gaap Proceeds From Hedge Investing Activities
ProceedsFromHedgeInvestingActivities
4820000 usd
us-gaap Proceeds From Hedge Investing Activities
ProceedsFromHedgeInvestingActivities
3633000 usd
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
582932000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
46121000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
18703000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
9786000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
9820000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
40973000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6869000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
724000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
21992000 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
12940000 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
0 usd
osnl Repayment Of Lines Of Credit Related Party
RepaymentOfLinesOfCreditRelatedParty
200000000 usd
osnl Repayment Of Lines Of Credit Related Party
RepaymentOfLinesOfCreditRelatedParty
0 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
43000000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
44654000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
139854000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 usd
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
287544000 usd
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
0 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2357000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
4067000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
646547000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
604985000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
32372000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
47000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
136670000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
133578000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1103000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1129000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
170145000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
134754000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
101571000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
46857000 usd
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
68574000 usd
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
87897000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
170145000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
134754000 usd
us-gaap Interest Paid Net
InterestPaidNet
64565000 usd
us-gaap Interest Paid Net
InterestPaidNet
45442000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1228000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
11920000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7069000 usd
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
36138000 usd
us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
NoncashOrPartNoncashAcquisitionOtherAssetsAcquired1
0 usd
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
287444000 usd
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
0 usd
osnl Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Class I Redeemable Shares Issued Affiliate Line Of Credit
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationClassIRedeemableSharesIssuedAffiliateLineOfCredit
7081000 usd
osnl Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Class I Redeemable Shares Issued Affiliate Line Of Credit
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationClassIRedeemableSharesIssuedAffiliateLineOfCredit
7935000 usd
osnl Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Class I Redeemable Shares Issued
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationClassIRedeemableSharesIssued
16544000 usd
osnl Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Class I Redeemable Shares Issued
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationClassIRedeemableSharesIssued
7686000 usd
osnl Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Redeemable Noncontrolling Interest Issued
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationRedeemableNoncontrollingInterestIssued
5371000 usd
osnl Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Redeemable Noncontrolling Interest Issued
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationRedeemableNoncontrollingInterestIssued
2504000 usd
osnl Noncash Investing And Financing Activities Allocation To Redeemable Noncontrolling Interest
NoncashInvestingAndFinancingActivitiesAllocationToRedeemableNoncontrollingInterest
437000 usd
osnl Noncash Investing And Financing Activities Allocation To Redeemable Noncontrolling Interest
NoncashInvestingAndFinancingActivitiesAllocationToRedeemableNoncontrollingInterest
5000 usd
osnl Noncash Investing And Financing Activities Allocation To Redeemable Common Shares
NoncashInvestingAndFinancingActivitiesAllocationToRedeemableCommonShares
24000 usd
osnl Noncash Investing And Financing Activities Allocation To Redeemable Common Shares
NoncashInvestingAndFinancingActivitiesAllocationToRedeemableCommonShares
142000 usd
osnl Noncash Investing And Financing Activities Distribution Reinvestment
NoncashInvestingAndFinancingActivitiesDistributionReinvestment
40077000 usd
osnl Noncash Investing And Financing Activities Distribution Reinvestment
NoncashInvestingAndFinancingActivitiesDistributionReinvestment
15394000 usd
osnl Accrued Dividends Payable For Common Shareholders
AccruedDividendsPayableForCommonShareholders
17418000 usd
osnl Accrued Dividends Payable For Common Shareholders
AccruedDividendsPayableForCommonShareholders
2857000 usd
osnl Accrued Dividends Payable For Non Controlling Interest
AccruedDividendsPayableForNonControllingInterest
1696000 usd
osnl Accrued Dividends Payable For Non Controlling Interest
AccruedDividendsPayableForNonControllingInterest
1613000 usd
osnl Accrued Shareholder Servicing Fees
AccruedShareholderServicingFees
78477000 usd
osnl Accrued Shareholder Servicing Fees
AccruedShareholderServicingFees
37417000 usd
us-gaap Nature Of Operations
NatureOfOperations
Organization and Nature of the Business<div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Blue Owl Real Estate Net Lease Trust (“we”, “us”, “our”, “ORENT”, and the “Company”) invests primarily in a diversified portfolio of single-tenant commercial real estate properties subject to long-term net leases with investment grade and other creditworthy tenants or guarantors across the United States and Canada. The Company is the sole general partner and majority limited partner in Blue Owl NLT Operating Partnership LP, a Delaware limited partnership (the “NLT OP” or “Operating Partnership”). Substantially all of the Company’s business is conducted through the NLT OP. As of June 30, 2024, ORENT owns 91.6% of the NLT OP. The Company and the NLT OP are externally managed by an adviser, Blue Owl Real Estate Capital LLC (“Blue Owl Real Estate” or “Adviser”), a subsidiary of Blue Owl Capital Inc. (“Blue Owl”). The Company’s investment decisions are made by employees of the Adviser, subject to general oversight by the Company’s investment committee and the Company’s board of trustees (the “Board”). The Company was formed under the name Oak Street Net Lease Trust on April 4, 2022 (“Inception”) as a Maryland statutory trust; however, no activity occurred until the first capital funding from Blue Owl on August 9, 2022. On July 6, 2023, the Company and NLT OP changed their legal names from Oak Street Net Lease Trust and OakTrust Operating Partnership L.P., respectively. </span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company operates in a manner to qualify as a real estate investment trust (“REIT”) for U.S. federal income tax purposes. As a REIT, the Company is entitled to a tax deduction for some or all of the dividends paid to shareholders. Accordingly, the Company generally will not be subject to federal income taxes as long as it currently distributes to shareholders an amount equal to or in excess of the Company’s taxable income. If the Company fails to operate in a manner to qualify as a REIT in any taxable year, without the benefit of certain relief provisions, the Company will be subject to federal and state income tax on its taxable income at regular corporate tax rates. </span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s principal business is the acquisition, ownership, financing and leasing of single-tenant commercial real estate properties subject to long-term net leases with investment grade and other creditworthy tenants or guarantors, and its management does not distinguish the principal business, or group the operations, by geography or property type for purposes of measuring performance. Accordingly, the Company has only one reportable segment.</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2024, the Company owned 182 investments in real estate, 19 investments in real estate leases and 22 build-to-suit assets currently in development, including industrial, retail, and office properties. Additionally, the Company holds interest in three joint ventures that are included in investments in unconsolidated real estate affiliates, including STORE Capital LLC and Waterparks LLC (collectively, “STORE”). STORE owns 3,230 properties which are leased to 625 tenants on a triple-net lease basis. As of June 30, 2024, the Company holds a 16.1% ownership interest in STORE. The Company’s investment in STORE qualifies as a significant investment under SEC Regulation S-X Rule 10-01(b) (refer to Note 4 - Investments in Unconsolidated Real Estate Affiliates). The Company also holds investments in real estate debt which consist of securities and loans (refer to Note 5 - Investments in Real Estate Debt).</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 1, 2022, the Company commenced the offering of its common shares through a continuous private placement offering (“Private Offering”), under Regulation D of the Securities Act of 1933, as amended (the “1933 Act”). As of June 30, 2024, the Company is authorized to issue an unlimited number of each of its classes of shares of its common shares (Class S shares, Class N shares, Class D shares, and Class I shares), each with a par value of $0.01 per common share. The share classes have different upfront selling commissions, dealer manager fees and ongoing shareholder servicing fees. The initial offering price for shares sold through the Private Offering was $10.00 per share. The Company conducts periodic closings and sells shares at the prior net asset value (“NAV”) per share as determined using the valuation methodology recommended by the Adviser and approved by the pricing committee of the Board, plus applicable fees and commissions. The NAV per share is calculated on a fully diluted basis. NAV may differ from the values of our real estate assets as calculated in accordance with accounting principles generally accepted in the United States (“GAAP”).</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 31, 2023, the Company, through the NLT OP, initiated a program (the “DST Program”) to issue and sell up to a maximum aggregate offering amount of $3,000,000 of beneficial interests (“Interests”) in specific Delaware statutory trusts (the “DSTs”) holding real properties (the “DST Properties”) to “accredited investors,” as that term is defined under Regulation D promulgated by the SEC under the 1933 Act in private placements exempt from registration pursuant to Section 4(a)(2) of the 1933 Act (the “DST Offerings”). As of June 30, 2024, the Company has raised proceeds of $26,736 from its DST program. See Note 6 - DST Program for additional information.</span></div>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2024Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
182 investment
CY2024Q2 osnl Number Of Real Estate Leases
NumberOfRealEstateLeases
19 investment
CY2024Q2 osnl Number Of Investments In Loans Receivable Related To Properties
NumberOfInvestmentsInLoansReceivableRelatedToProperties
22 investment
CY2024Q2 osnl Number Of Interest In Joint Ventures
NumberOfInterestInJointVentures
3 joint_venture
osnl Proceeds From Issuance Of Private Placement Gross
ProceedsFromIssuanceOfPrivatePlacementGross
26736000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Global macroeconomic conditions including the persistence of elevated inflation and interest rates, in conjunction with geopolitical uncertainty, including the ongoing hostilities between Russia and Ukraine, as well as the conflict and escalating tensions in the Middle East, continue to weigh on industry deal activity, and may have a negative impact on the Company and its investors. </span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company believes the estimates and assumptions underlying its consolidated financial statements are reasonable based on the information available as of June 30, 2024. However, uncertainty over the current global macroeconomic environment and its impact on the Company’s operations may cause actual results to differ materially from those estimates.</span></div>
CY2024Q2 us-gaap Depreciation
Depreciation
20913000 usd
us-gaap Depreciation
Depreciation
41803000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
13518000 usd
us-gaap Depreciation
Depreciation
24581000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
53000 usd
CY2024Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
53000 usd
CY2023Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
6870000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
16495000 usd
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
755805000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
847169000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Sales
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
12800000 usd
osnl Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Distributions Received
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetDistributionsReceived
48566000 usd
osnl Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Proceeds Received From Delaware Statutory Trust
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetProceedsReceivedFromDelawareStatutoryTrust
0 usd
osnl Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Unrealized Loss On Sale Of Interests
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetUnrealizedLossOnSaleOfInterests
0 usd
osnl Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Income From Unconsolidated Real Estate Affiliates Measured At Fair Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIncomeFromUnconsolidatedRealEstateAffiliatesMeasuredAtFairValue
73220000 usd
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1614828000 usd
CY2024Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
4849000 usd
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
4849000 usd
CY2023Q2 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
CY2024Q2 osnl Liabilities Measured Below Carrying Value
LiabilitiesMeasuredBelowCarryingValue
2822000 usd
CY2023Q4 osnl Liabilities Measured Below Carrying Value
LiabilitiesMeasuredBelowCarryingValue
2666000 usd
CY2024Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
17380000 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
16638000 usd
CY2024Q2 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
2283584000 usd
CY2023Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
2290367000 usd
CY2024Q2 us-gaap Land And Land Improvements
LandAndLandImprovements
510417000 usd
CY2023Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
499936000 usd
CY2024Q2 us-gaap Development In Process
DevelopmentInProcess
40639000 usd
CY2023Q4 us-gaap Development In Process
DevelopmentInProcess
0 usd
CY2024Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2834640000 usd
CY2023Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2790303000 usd
CY2024Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
115699000 usd
CY2023Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
74471000 usd
CY2024Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2718941000 usd
CY2023Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2715832000 usd
CY2024Q2 osnl Real Estate Investment Property Placed In Service
RealEstateInvestmentPropertyPlacedInService
0 usd
CY2023Q2 osnl Real Estate Investment Property Placed In Service
RealEstateInvestmentPropertyPlacedInService
519295000 usd
CY2024Q2 us-gaap Net Rentable Area
NetRentableArea
15373000 sqft
CY2023Q2 us-gaap Net Rentable Area
NetRentableArea
14266000 sqft
CY2024Q2 osnl Net Rentable Area Occupancy Rate
NetRentableAreaOccupancyRate
0.99
CY2023Q2 osnl Net Rentable Area Occupancy Rate
NetRentableAreaOccupancyRate
1
us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
64784000 usd
CY2024Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
23 property
CY2024Q2 osnl Number Of Gross Rental Square Feet
NumberOfGrossRentalSquareFeet
6611000 sqft
CY2024Q2 us-gaap Equity Method Investments
EquityMethodInvestments
1577389000 usd
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
705628000 usd
CY2024Q2 us-gaap Equity Method Investments
EquityMethodInvestments
1577389000 usd
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
705628000 usd
CY2024Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
40094000 usd
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
13180000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
73394000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
16774000 usd
osnl Loan Maturity Period
LoanMaturityPeriod
P13Y
osnl Number Of Investments In Loans Receivable
NumberOfInvestmentsInLoansReceivable
22 investment
osnl Number Of Assets Contributed
NumberOfAssetsContributed
2 asset
osnl Real Estate Assets Contributed Amount
RealEstateAssetsContributedAmount
85300000 usd
CY2024Q2 osnl Proceeds From Issuance Of Private Placement Gross
ProceedsFromIssuanceOfPrivatePlacementGross
8417000 usd
osnl Proceeds From Issuance Of Private Placement Gross
ProceedsFromIssuanceOfPrivatePlacementGross
12940000 usd
CY2024Q2 osnl Proceeds From Issuance Of Private Placement Upfront Fees
ProceedsFromIssuanceOfPrivatePlacementUpfrontFees
84000 usd
osnl Proceeds From Issuance Of Private Placement Upfront Fees
ProceedsFromIssuanceOfPrivatePlacementUpfrontFees
129000 usd
osnl Proceeds From Issuance Of Private Placement Gross
ProceedsFromIssuanceOfPrivatePlacementGross
26736000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
26805000 usd
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
13659000 usd
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-319000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-560000 usd
CY2024Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P14Y6M
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
158385000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
15803000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
142582000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
147293000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10763000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
136530000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2571000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5127000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2045000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4089000 usd
CY2024Q2 us-gaap Line Of Credit
LineOfCredit
0 usd
CY2023Q4 us-gaap Line Of Credit
LineOfCredit
200000000 usd
CY2024Q2 us-gaap Line Of Credit
LineOfCredit
0 usd
CY2023Q4 us-gaap Line Of Credit
LineOfCredit
200000000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
351157000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
385045000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1165500000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
43000000 usd
CY2024Q2 osnl Long Term Debt Maturity After Year Five
LongTermDebtMaturityAfterYearFive
0 usd
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1944702000 usd
CY2024Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
1859704000 usd
CY2023Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
1996887000 usd
CY2023Q3 osnl Common Stock Class Of Stock Issued
CommonStockClassOfStockIssued
3 class
CY2024Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
39108000 usd
CY2023Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
37901000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
79773000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
72799000 usd
CY2024Q2 us-gaap Straight Line Rent
StraightLineRent
4006000 usd
CY2023Q2 us-gaap Straight Line Rent
StraightLineRent
4356000 usd
us-gaap Straight Line Rent
StraightLineRent
9118000 usd
us-gaap Straight Line Rent
StraightLineRent
8518000 usd
CY2024Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
5541000 usd
CY2023Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
2663000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
10657000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
9609000 usd
CY2024Q2 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
62000 usd
CY2023Q2 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
34000 usd
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
123000 usd
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
69000 usd
CY2024Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
48717000 usd
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us-gaap Payments To Acquire Lease Receivables
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CY2024Q2 us-gaap Sales Type And Direct Financing Leases Interest Income
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ProceedsFromLeasePaymentSalesTypeAndDirectFinancingLeasesInvestingActivity
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SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths
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SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
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SalesTypeLeaseNetInvestmentInLeaseAllowanceForCreditLoss
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SalesTypeLeaseNetInvestmentInLeaseInitialAllowanceUponAdoptionAllowanceForCreditLoss
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
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LesseeOperatingLeaseLiabilityPaymentsDueYearFive
4885000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
73313000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
98507000 usd
CY2024Q2 osnl Number Of Classes Of Shares
NumberOfClassesOfShares
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StockOwnershipPenaltyThreshold
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17976000 usd
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RedeemableNoncontrollingInterestEquityCommonFairValue
1657000 usd
osnl Redeemable Noncontrolling Interest Equity Settlement Of Prior Year Performance Participation Allocation
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5371000 usd
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2504000 usd
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osnl Redeemable Noncontrolling Interest Equity Gaap Income Allocation
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188000 usd
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83000 usd
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76000 usd
osnl Redeemable Noncontrolling Interest Equity Distributions
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672000 usd
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128000 usd
osnl Redeemable Noncontrolling Interest Equity Fair Value Allocation
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437000 usd
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5000 usd
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512000 usd
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54000 usd
CY2024Q2 us-gaap Redeemable Noncontrolling Interest Equity Common Fair Value
RedeemableNoncontrollingInterestEquityCommonFairValue
23687000 usd
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RedeemableNoncontrollingInterestEquityCommonFairValue
4232000 usd
CY2024Q2 osnl Redeemable Noncontrolling Interest Equity Fair Value Allocation
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312000 usd
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437000 usd
CY2023Q2 osnl Redeemable Noncontrolling Interest Equity Fair Value Allocation
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us-gaap Allocated Share Based Compensation Expense
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CY2023Q2 us-gaap Allocated Share Based Compensation Expense
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AllocatedShareBasedCompensationExpense
168000 usd
CY2024Q2 osnl Number Of Investments Related To Build To Suit Assets
NumberOfInvestmentsRelatedToBuildToSuitAssets
22 investment
CY2024Q2 us-gaap Profit Loss
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14370000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
9633000 usd
us-gaap Profit Loss
ProfitLoss
30184000 usd
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ProfitLoss
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CY2024Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1234000 usd
CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1787000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2917000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4762000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13136000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7846000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
27267000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
18156000 usd
CY2024Q2 us-gaap Dilutive Securities
DilutiveSecurities
1234000 usd
CY2023Q2 us-gaap Dilutive Securities
DilutiveSecurities
0 usd
us-gaap Dilutive Securities
DilutiveSecurities
2917000 usd
us-gaap Dilutive Securities
DilutiveSecurities
0 usd
CY2024Q2 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
14370000 usd
CY2023Q2 us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
0 usd
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
30184000 usd
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
0 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
292992195 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
127321209 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
265106090 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
112784711 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
38683 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
16212 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
38683 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
16212 shares
CY2024Q2 us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
28916411 shares
CY2023Q2 us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
0 shares
us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
28807652 shares
us-gaap Weighted Average Numer Diluted Limited Partnership Units Outstanding Adjustment
WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment
0 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
321947289 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
127337421 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
293952425 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112800923 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
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EarningsPerShareDiluted
0.16
us-gaap Number Of Operating Segments
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1 segment
us-gaap Number Of Reportable Segments
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1 segment
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1108000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1412000 usd
CY2024Q2 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
74000 usd
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
112000 usd
CY2024Q2 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
32000 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
73000 usd
CY2024Q2 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
906000 usd
us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
906000 usd
CY2024Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1012000 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1091000 usd
CY2024Q2 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
62000 usd
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
219000 usd
CY2024Q2 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
34000 usd
us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
102000 usd
CY2024Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
96000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
321000 usd
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1108000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1412000 usd
CY2024Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
247000 usd
CY2024Q2 us-gaap Deferred Tax Assets Tax Deferred Expense
DeferredTaxAssetsTaxDeferredExpense
397000 usd
CY2024Q2 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
644000 usd
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
71000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense
DeferredTaxAssetsTaxDeferredExpense
390000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
319000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
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false

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