Minimum investment
$250k
Offering size
$342.9M
How much has sold
35.0%
Asset type
Net lease portfolio (industrial/retail; exact mix not public) property
Location
Multi-state (6)
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 Real Estate Exchange VI DST is a Delaware statutory trust — fractional real estate ownership structured to qualify for 1031 exchange treatment — raising capital to hold a net-lease portfolio. AltsWire reported buildings in seven states: Alabama, Missouri, Oklahoma, Rhode Island, South Carolina, Virginia and Wisconsin.2 Its first sale was May 21, 2026, and it was still raising at its August 28, 2026 amendment.1
$342.9M raise, largest DST launch of May 2026; also includes WI (7 states total); 0% LTV platform; 721 exit to ORENT
Show sources (4)Hide sources (4)
These links support the public record as a whole; individual details may come from different sources.
AL · exact location not on recordThe filings name the market but not an address we can place on a map.
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?
Neither the Form D filings — the SEC's brief notice of a security sold without registration — nor Blue Owl's public materials name the individual buildings, their addresses or their square footage. AltsWire placed the portfolio in Alabama, Missouri, Oklahoma, Rhode Island, South Carolina, Virginia and Wisconsin, one state more than the address list carried in the filings.2 Acquisition dates and purchase prices are not in the public record.
- Reported location
- Multi-state (6)
- Property size
- 7-state net lease portfolio; ~$342.9M raise
Who is the tenant, and what's the lease?
No public filing identifies the tenants or their leases. Net lease means tenants pay some or all of the property taxes, insurance and upkeep directly instead of the landlord; whether these leases are full triple-net, and what renewal options they carry, appears only in the PPM, the private placement memorandum given to investors.
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.
35.0% reported sold
- Amount sold
- $119,546,056
- Still available
- $223,363,840
- Investors reported
- 116
- Total offering
- $342,909,896
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How is it financed, and what does it pay?
No public filing names a lender or loan terms for this Trust. The American Reporter described OREX VI as carrying no mortgage debt, a description the public record does not reconcile with the summary label shown here.3
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Blue Owl Real Estate Exchange LLC, the 1031 exchange arm of Blue Owl Capital, is the sponsor named in the filings.1 The platform entered the DST market in early 2026, and AltsWire reported it at roughly $436.5 million raised through July 2026. Funds managed by Blue Owl Capital completed a $2.4 billion acquisition of net-lease REIT Sila Realty Trust on July 1, 2026. The American Reporter reported a planned Section 721 exchange into Blue Owl Real Estate Net Lease Trust, converting investors' interests into REIT units.3
- Sponsor
- Blue Owl
- Legal Trust name
- Blue Owl Real Estate Exchange VI 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?
Successive amendments have raised the reported sale tally while leaving the stated offering ceiling unchanged. Interests are offered without general advertising, to accredited investors — broadly, $1 million in net worth excluding a primary residence, or $200,000 in annual income — reached through pre-existing relationships.
- 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
- 7
- 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 VI DST still raising money?
Top1031 lists Blue Owl OREX VI 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 VI 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.
Is Blue Owl OREX VI DST still open to new investors?
The most recent Form D amendment on record was filed August 28, 2026, and the Offering was still raising at that point. The filings state a total offering amount of $342,909,896 and a date of first sale of May 21, 2026. A Form D reports the position as of its date; it is not proof that interests are available today.
What does the Trust actually own?
A net-lease portfolio. The SEC's Form D does not require property-level detail, so no building name, address, tenant or square footage appears in the public filings. AltsWire reported on June 3, 2026 that the portfolio spans Alabama, Missouri, Oklahoma, Rhode Island, South Carolina, Virginia and Wisconsin. The PPM is the only place to see the actual property schedule.
What is the minimum investment, and who can buy in?
The Form D filings report a $250,000 minimum. The Offering is made under Rule 506(b), which means no general advertising and purchases limited to accredited investors — generally $1 million in net worth excluding a primary residence, or $200,000 in annual income ($300,000 with a spouse).
What does the 721/UPREIT exit mean here?
A Section 721 exchange lets a trust contribute its real estate to a REIT in return for operating partnership units, so investors end up holding REIT units instead of direct property interests. The American Reporter reported on April 15, 2026 that OREX VI is structured for a 721 exit into Blue Owl Real Estate Net Lease Trust — a stated plan, not a completed transaction. Units received that way generally cannot be 1031-exchanged again.
Is the Trust leveraged or all-cash?
The public record does not settle it. The American Reporter described the offering as carrying no mortgage debt, while the summary label on this record reads leveraged, and no filing names a lender or loan amount. The PPM's sources-and-uses table is the authority.
How many other Blue Owl DSTs are there?
Top1031 tracks 6 total offerings from Blue Owl, of which 5 are currently raising. OREX VI is one of that series; each is a separate trust with its own properties, financing and paperwork.
Chapter 9Blue Owl Real Estate Exchange VI DST is 12.3% sold, and its raise velocity cannot yet be measuredTop1031 reported that OREX VI had raised $42,109,784 from 40 investors since its first sale on May 21, 2026, representing 12.3% of its offering ceiling—short of the halfway mark needed to calculate a pace. DST 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 OREX VI among the largest May 2026 launches (~$342.9M, 7 states incl. AL and WI) but does not report it as fully subscribed. DST Sales Hit $693M in May, YTD Pace Up 24% to $3.75BAltsWire reports Blue Owl Real Estate Exchange launched the largest DST offering of May 2026 with Blue Owl OREX VI DST, a $342.9 million net-lease portfolio spanning seven states: Alabama, Missouri, Oklahoma, Rhode Island, South Carolina, Virginia, and Wisconsin. Blue Owl Capital Vaults to No. 3 in the 1031 DST Market in Less Than Three MonthsIdentifies Blue Owl OREX VI as the largest DST launch of May 2026, a ~$342.9M net lease portfolio across 7 states including AL and WI, structured at 0% LTV with a planned 721 exchange/exit to ORENT.