Marc Zahr - 06 Feb 2026 Form 4 Insider Report for Blue Owl Real Estate Net Lease Trust

Reporting relationship: CEO, Director
Issuer ticker: N/A
Reported as of: 06 Feb 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 10 Feb 2026, 15:15:47 UTC
Prior SEC filing: 12 Dec 2025
Next SEC filing: 13 Feb 2026
Source filing: View source filing
Reporting owner signature: /s/ Karen Hager, as Attorney-in-Fact

Key filing fact

Marc Zahr filed Form 4 for Blue Owl Real Estate Net Lease Trust on 10 Feb 2026.

Key facts

This page summarizes Marc Zahr's Form 4 filing for Blue Owl Real Estate Net Lease Trust.
1 reported transaction and 2 derivative rows are listed below.
Accepted by SEC: 10 Feb 2026, 15:15.

Change

Previous filing in this sequence was filed on 12 Dec 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001901889 Primary reporting owner

Zahr Marc

Relationship: CEO, Director
Address: C/O BLUE OWL REAL ESTATE NET LEASE TRUST, 150 N RIVERSIDE PLAZA, 37TH FLOOR, CHICAGO
Signature: /s/ Karen Hager, as Attorney-in-Fact
Signature date: 10 Feb 2026

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

No ticker transaction Derivative

Blue Owl NLT Operating Partnership Units

Award

Transaction value: $0
Shares: +1,715,685
Change %: +110%
Price: $0.000000
Shares after: 3,271,201
Date: 06 Feb 2026
Ownership: Direct
Underlying class: Class I common shares of beneficial interest
Underlying amount: 1,715,685
Exercise price
Footnotes: F1, F2

No ticker holding Derivative

Blue Owl NLT Operating Partnership Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 3,252,106
Date: 06 Feb 2026
Ownership: By Augustus, LLC
Underlying class: Class I common shares of beneficial interest
Underlying amount: 3,252,106
Exercise price
Footnotes: F1, F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

Represents Class I limited partner interests in Blue Owl NLT Operating Partnership LP ("Blue Owl NLT Operating Partnership Units"), which may, subject to certain restrictions, be exchanged for a corresponding number of Class I common shares of beneficial interest, par value $0.01 per share of the Issuer or the cash equivalent. Blue Owl NLT Operating Partnership Units do not expire.

Footnote F2

The Blue Owl NLT Operating Partnership Units represent a portion of the Blue Owl NLT Operating Partnership Units previously issued to Blue Owl Real Estate Net Lease Trust CPV LP as a performance allocation, a portion of which was allocated to the Reporting Person and distributed to him on February 6, 2026.

Footnote F3

For estate planning purposes, the Reporting Person transferred 90% of the units of Augustus, LLC ("Augustus"), an investment vehicle controlled by the Reporting Person, to the Zahr Family Gift Trust, a family trust for the benefit of the Reporting Person's minor children, all of whom share the same residence as the Reporting Person. The Reporting Person retains the remaining 10% of the Augustus units.

SEC remarks

The Reporting Person may no longer be deemed to control Blue Owl Real Estate Net Lease Trust CPV LP and, consequently, may no longer be deemed to beneficially own the securities directly held by Blue Owl Real Estate Net Lease Trust CPV LP.