Derby Day
Later today is the running of the 152nd Kentucky Derby.
Given the net lease market continues to emerge as a meaningful asset class and sustained earnings growth is the litmus test of long-term success, we’re rooting for two horses:
Litmus Test (Post 4) at 35:1
Emerging Markets* (Post 15) at 11:1
*Fun fact: Emerging Markets is owned by value investing hedge fund manager Seth Klarman
Blue Owl quarterly update
As part of its corporate 1Q2026 financial reporting, Blue Owl provided a myriad of updates during its earnings call regarding its net lease investment vehicles:
-Net Lease vehicles raised ~$3 billion of equity capital during 1Q2026
-Overall net lease investment pipeline of $50 billion under LOI or contract
-Net Lease Europe: $1.25 billion in equity capital raised to date
-Net Lease Flagship Fund VI: Fully committed with 2/3 of capital called; Visibility to fully call capital by summer 2026
-Net Lease Flagship Fund VII: $5.8 billion in equity capital raised to date; Anticipate reaching the $7.5 billion hard cap by the end of 2026
-Net Lease non-traded REIT: $1.1 billion of equity inflows (over $200 million from 1031 exchange structures); $134 million of repurchases (outflows) during 1Q2026
Subscribe to read the rest.
Become a paying subscriber of the Net Lease Observer to get access to this post and other subscriber-only content.
Upgrade