Blue Owl Real Estate Exchange LLC (OREX)

Endnotes

1. Accredited investors as defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended).

2. As defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended.

3. The FMV Option is comprised of two separate potential options: (i) the “FMV Purchase Option” and (ii) the “FMV Real Estate Option.”  Both options are exercisable for a period of one year beginning on the date on which all DST investors in a particular offering have held their DST interests for two years. There is no guarantee that either option will be exercised, which exercise is to be made in the Operating Partnership's (and/or its affiliates’) sole discretion. Blue Owl, its affiliates and its employees are not in the business of providing tax or legal advice. Investors should seek advice based on their particular circumstances from an independent tax or legal advisor.

4. In addition to other requirements, investors must purchase a replacement property of equal or greater value and invest the entire proceeds from the sale of the relinquished property in order to maximally defer their capital gains taxes. Some costs, such as certain closing costs, may constitute "taxable boot" in certain circumstances. Each potential investor is strongly advised to seek independent tax advice from qualified professionals.

5. Within the rules of IRC Section 1031 and in accordance with Revenue Ruling 2004-86 and the fixed investment trust rules under Treasury Regulations Section 301.7701-4(c). OREX intends to structure its offerings such that its DSTs will comply with these requirements and afford investors the opportunity to use OREX-sponsored DST shares as qualifying replacement property under IRC Section 1031.

Important information

The material presented is proprietary information regarding Blue Owl, its affiliates and investment program, funds sponsored by Blue Owl, including the Blue Owl Credit, GP Strategic Capital Funds and the Real Estate Funds (collectively the “Blue Owl Funds”) as well as investment held by the Blue Owl Funds. 

This webpage is for informational purposes only and is not an offer or a solicitation to sell or subscribe for an interest in a DST and does not constitute investment, legal, regulatory, business, tax, financial, accounting, or other advice or a recommendation regarding any securities of Blue Owl, of any fund or vehicle managed by Blue Owl, or of any other issuer of securities. Only a definitive offering webpage can make such an offer. Neither the Securities and Exchange Commission, the Attorney General of the State of New York nor any state securities commission has approved or disapproved of these securities or determined if the applicable Memorandum is truthful or complete. Any representation to the contrary is a criminal offense. 

The views expressed and, except as otherwise indicated, the information provided are as of the report date and are subject to change, update, revision, verification, and amendment, materially or otherwise, without notice, as market or other conditions change. Since these conditions can change frequently, there can be no assurance that the trends described herein will continue or that any forecasts are accurate. In addition, certain of the statements contained in this webpage may be statements of future expectations and other forward-looking statements that are based on the current views and assumptions of Blue Owl and involve known and unknown risks and uncertainties (including those discussed below) that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements. These statements may be forward-looking by reason of context or identified by words such as “may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential or continue” and other similar expressions. Neither Blue Owl, its affiliates, nor any of Blue Owl’s or its affiliates' respective advisers, members, directors, officers, partners, agents, representatives or employees or any other person (collectively the “Blue Owl Entities”) is under any obligation to update or keep current the information contained in this webpage.

This webpage contains case studies and other discussions of selected investments made by the Blue Owl Funds. These discussions provide descriptions and certain key aspects of such investments and are presented for informational purposes only and are intended to illustrate Blue Owl’s sourcing experience and the profile and types of investments and investment strategies which may be pursued by Blue Owl. These types of investments are not necessarily indicative of the types of investments that Blue Owl may seek to make, or be able to make, in the future. Any future investment vehicle that Blue Owl may sponsor or advise in the future, may pursue and consummate different types of investments in different concentrations, than those selected for illustrative purposes on this webpage. Further, references to investments included in these case studies are presented to illustrate Blue Owl’s investment processes only and should not be construed as a recommendation of any particular investment. Past performance of any investment described in these illustrative case studies is not indicative of future results that may be obtained by any Blue Owl Fund, and there can be no assurance that any such fund or other vehicle will achieve comparable results.
 
This webpage contains information from third party sources which Blue Owl has not verified. No representation or warranty, express or implied, is given by or on behalf of the Blue Owl Entities as to the accuracy, fairness, correctness or completeness of the information or opinions contained on this webpage and no liability whatsoever (in negligence or otherwise) is accepted by the Blue Owl Entities for any loss howsoever arising, directly or indirectly, from any use of this webpage or its contents, or otherwise arising in connection therewith.

All investments are subject to risk, including the loss of the principal amount invested. These risks may include limited operating history, uncertain distributions, inconsistent valuation of the portfolio, changing interest rates, leveraging of assets, reliance on the investment advisor, potential conflicts of interest, payment of substantial fees to the investment advisor and the dealer manager, potential illiquidity, and liquidation at more or less than the original amount invested. Diversification will not guarantee profitability or protection against loss. Performance may be volatile, and the NAV may fluctuate. See "Risk Factors" in the applicable Memorandum for other considerations.

Performance Information: Where performance returns have been included in this webpage, Blue Owl has included herein important information relating to the calculation of these returns as well as other pertinent performance related definitions.

Persons that may be interested in a potential investment must receive and carefully review a final private placement memorandum, as well as complete a subscription webpage that contains additional information, representations and warranties, prior to investing. Blue Owl and its affiliates expressly disclaim any liability to the full extent permitted under applicable law arising from reliance by any person on the information contained in this webpage.

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