Blue Owl OREX V DST

Availability unconfirmed. Active means a filing within the past 15 months; it does not by itself establish current subscription availability.

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.

The private placement memorandum describes a parent Delaware statutory trust that indirectly owns 100% of the beneficial interests in two operating trusts, MGKY001 Owner DST (the Magna Trust) and LOPLMI001 Owner DST (the AR Trust). Those trusts hold three single-tenant industrial manufacturing facilities: approximately 1,351,200 rentable square feet on about 134.29 acres at 111 Cosma Drive, Bowling Green, Kentucky; approximately 701,000 square feet on about 107.68 acres at 1115 South Wayne Street, Saint Marys, Ohio; and approximately 289,000 square feet on about 41.13 acres at 13505 North Haggerty Road, Plymouth, Michigan. Distributor material reports the portfolio was acquired for $249,280,000.

The PPM reports the Kentucky property is 100% leased and occupied by Bowling Green Metalforming L.L.C., an indirect wholly owned subsidiary and operating unit of Magna International Inc., and that the Ohio and Michigan properties are each 100% leased and occupied by Loc Performance Products, LLC, doing business as American Rheinmetall. On August 5, 2026 the U.S. Department of War reported an $18,917,898 firm-fixed-price contract for vehicular track shoes awarded to Loc Performance Products LLC, d/b/a American Rheinmetall, in Plymouth, Michigan. On September 1, 2026 the company and multiple defense outlets reported delivery of the first of eight Lynx XM30 prototypes to the U.S. Army, with the release stating that work begins with precision turret fabrication in Plymouth, Michigan. A September 2, 2026 company release announcing a $710,000 Kongsberg award for machined MCT-30 turret components listed St. Marys, Ohio among the relevant operations.

Distributor material reports each operating trust master-leased its property to a Blue Owl-affiliated master tenant under a 20-year net lease, guaranteed by the Blue Owl Operating Partnership. In that arrangement the trusts collect rent from the affiliated master tenant rather than directly from the occupying manufacturer, so trust-level cash flow depends on the master tenant's payments and, behind it, the guarantor — while the occupying tenants' rent supports the master tenant. Lease commencement and expiration dates were not established in the public sources reviewed; the master lease, the guaranty and the occupancy leases in the PPM are the documents that set those terms.

Distributor material for the Offering says the properties carry no mortgage debt and describes the acquisition as all-cash. Top1031's metadata for this record carries a leverage classification, and no recorded mortgage or other primary debt document was located that confirms it. The PPM's sources-and-uses table and county land records are what resolve which description is accurate.

The Trust was still raising as of the Form D amendment filed July 8, 2026, which reports sales as of that filing date and does not itself confirm that interests remained available afterward. That filing records a Rule 506(b) offering — a private placement to accredited investors with no general solicitation — which is why access typically runs through a registered representative rather than a public website. The SEC filing reports a $250,000 minimum investment.

Top1031's record shows no 721/UPREIT conversion feature — a structure in which DST interests are exchanged for operating-partnership units in a REIT rather than sold — and the sponsor material reviewed did not describe one. The sponsor is an indirect subsidiary of Blue Owl Real Estate Net Lease Trust, a non-listed perpetual-life REIT, but that affiliation is not itself an exit mechanism. The PPM's exit and disposition sections are where any such right would appear.