Minimum investment
$250k
Offering size
$247.2M
How much has sold
94.0%
Asset type
Retail (net lease) property
Location
Not stated
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Blue Owl OREX IV DST is a Delaware statutory trust — the structure that lets 1031 exchangers hold fractional real estate — organized in 2025 and raising about $247 million for retail net-lease property.1 The filings never name the property, city or tenant. Trade coverage of Blue Owl's OREX platform describes a planned 721 exit, contributing the property to a Blue Owl REIT's operating partnership in exchange for units.3
$247M offering; only $885k unsold by mid-Mar 2026 after 188 days (near-fully subscribed); 0% LTV; 721 exit to ORENT
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These links support the public record as a whole; individual details may come from different sources.
Location not on recordThe SEC filings for this offering do not give a property address. The filing history below is the current public record.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Nothing in the public record identifies the building. The Form D notices name no property, no address and no city; the only asset label available is retail net lease. That is normal — a Form D is a capital-raising notice, not a property disclosure — but it leaves the private placement memorandum (PPM), the private offering document, as the only place to learn what was bought and where. Research through August 28, 2026 found no property-level record either.
- Property size
- $247M offering
Who is the tenant, and what's the lease?
No tenant is named anywhere in the public record for this Trust, and no lease terms, expirations or occupancy figures appear in the filings. The retail net-lease label points to leases in which tenants, not the landlord, generally carry taxes, insurance and maintenance — but which tenants, and on what terms, appears only in the PPM.
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
94.0% reported sold
- Amount sold
- $232,289,994
- Still available
- $14,879,817
- Investors reported
- 136
- Total offering
- $247,169,811
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How is it financed, and what does it pay?
The Form D notices carry no lender, no loan principal and no maturity, so the public record does not establish this Trust's debt position, and the classification below is directory data rather than a filing disclosure. The American Reporter's April 15, 2026 account of the OREX program described an unleveraged structure, which conflicts with that classification.3
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Blue Owl is a large alternative asset manager whose Real Estate Exchange platform, branded OREX, packages net-lease property for 1031 exchange investors; the Form D names Blue Owl Real Estate Exchange LLC as the sponsor entity.2 The American Reporter reported on April 15, 2026 that Blue Owl had reached No. 3 in the 1031 DST market in under three months.3 AltsWire reported on August 5, 2026 that the platform raised about $436.5 million, or 7.9% of the DST market, through July 2026.4
- Sponsor
- Blue Owl
- Legal Trust name
- Blue Owl Real Estate Exchange IV DST
- May convert to a REIT
- Yes
- Offerings from this sponsor
- 5 active / 6 total offerings from Blue Owl
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
Every amendment since the initial notice has done one thing: mark the raise higher. The exemption used here bars general advertising, so the Trust reaches accredited investors — those meeting SEC income or net-worth tests — through existing broker-dealer relationships. The filings report a $250,000 minimum outside investment.5
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 9
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is Blue Owl OREX IV DST still raising money?
Top1031 lists Blue Owl OREX IV DST as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Blue Owl OREX IV DST?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What property does this Trust actually own?
Public filings do not say. The Form D notices for Blue Owl Real Estate Exchange IV DST disclose no property name, address, city or tenant, and web research through August 28, 2026 located no property-level record; Top1031 categorizes the offering as retail net lease. The private placement memorandum is the document that names the asset or portfolio, the tenants and the purchase price.
Is the offering still open?
The most recent Form D amendment on record was filed March 11, 2026, and industry data compiled through July 2026 still listed OREX IV without a closing announcement. Availability in a nearly complete DST can change within days, so a selling broker-dealer or the sponsor is the only reliable source for whether units remain today.
Does this Trust use mortgage debt?
The public record does not settle it. Form D does not report property-level debt, so no lender, principal or maturity appears in any filing for this Trust. The leverage classification shown on this page is directory data, and an April 15, 2026 trade article described the OREX program as unleveraged — the two disagree. The PPM's sources-and-uses table and any loan documents are the authoritative record.
What does the 721 exit into ORENT mean?
Trade coverage of the OREX program describes a planned 721 exchange — an UPREIT transaction in which the DST's property is contributed to the operating partnership of Blue Owl Real Estate Net Lease Trust (ORENT) in exchange for partnership units. Those units are generally not eligible for a further 1031 exchange, so the transaction converts a direct property interest into a REIT-linked one. The Form D does not address it; the PPM governs whether and how it happens.
Who can invest, and what is the minimum?
This is a Rule 506(b) private placement — sold without general advertising, through existing relationships, to accredited investors, meaning individuals meeting SEC income or net-worth thresholds. The Form D reports a $250,000 minimum outside investment, higher than many DST programs that use $100,000.
Why do published figures for how much is left disagree?
The American Reporter reported on April 15, 2026 that OREX IV, a $247 million retail program, had about $885,000 unsold as of mid-March 2026 after roughly 188 days on the market. That does not match the amount remaining in the Trust's own March 11, 2026 Form D amendment. The issuer filing is the primary record; the press figure is a secondary report.
Chapter 9DST Equity Raise Drops 19% in July but Still on Track for $7.5B by Year's EndJuly 2026 Mountain Dell industry data continues to list Blue Owl OREX IV as ≥90% sold (classified) — its June 2026 status carries into the July window without a fresh closing announcement. Blue Owl Capital Vaults to No. 3 in the 1031 DST Market in Less Than Three MonthsProfile of Blue Owl's OREX DST program noting OREX IV (a net-lease retail offering within the OREX III/IV series) raised ~$207M with only ~$885k remaining unsold as of mid-March 2026 after ~188 days; structured with 0% LTV and a 721 exchange exit into ORENT (Blue Owl Real Estate Net Lease Trust).