Oaktree Real Estate Income Trust Inc. filed a registration statement for a best-efforts offering of up to $2.00 billion of common stock.
Oaktree, which intends to qualify as a real estate investment trust, will offer up to $1.60 billion of stock in its primary offering and up to $400.0 million under a distribution reinvestment plan. The nontraded REIT will offer four classes of shares — classes T, S, D and I — which have varying selling commissions and dealer-manager fees.
Oaktree currently does not own any properties and is thus conducting a "blind pool" offering. The REIT intends to primarily invest in core-plus, income-producing properties in the top 50 U.S. markets, as well as a limited amount of private loans and traded securities.
Oaktree is advised by Oaktree Fund Advisors LLC, which is an affiliate of its sponsor, Oaktree Capital Management LP.