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Private company

Blue Owl Digital Infrastructure Trust

Blue Owl Digital Infrastructure Trust is an American real estate investment trust based in Chicago, active since 2025.2

Last updated Oct 21, 2026.

Overview

  • IndustryReal Estate Investment Trusts2
  • HeadquartersLutherville-Timonium, United States2
  • Incorporated inMD3
  • Business address150 N. Riverside Plaza, 37Th Floor, Chicago, Il 606063
  • Filer category, Emerging growth company3
  • Legal formBusiness Trust2
  • Kind of organizationReal estate investment trust2
  • LEI254900OESQ9KYZ2F80912
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O UNITED AGENT GROUP INC., 21093 Lutherville-Timonium, United States2
  • Registered withBusiness Services (Maryland Department of Assessments and Taxation), B259296702

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References herein to “Blue Owl Digital Infrastructure Trust,” “ODIT”, the “Company,” “we,” “us,” or “our” refer to Blue Owl Digital Infrastructure Trust and its subsidiaries unless the context specifically requires otherwise.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

1.15×Debt to equity6

Financial statements

Fiscal year2025
Cash$186.0M6
Intangible assets$512.8M6
Total assets$4.0B6
Long-term debt$1.8B6
Total liabilities$2.4B6
Retained earnings-$12.7M6
Shareholders’ equity$1.6B6

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Corporate structure

Blue Owl Digital Infrastructure Trust sits at the top of its group. 21 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

  • Blue Owl Digital Infrastructure Trust Lutherville-Timonium, Maryland, United States
    • 394 Pacific DC Portland Domestic REIT, LLC Subsidiary · Delaware, United States
    • 394 Pacific DCP ABS, LLC Subsidiary · Delaware, United States
    • Blue Owl Digital Infrastructure Trust Operating Partnership LP Subsidiary · Delaware, United States
    • OD Liquid Investor LLC Subsidiary · Delaware, United States
    • SI ATL01A ABS, LLC Subsidiary · Delaware, United States
    • SI CHI01A ABS, LLC Subsidiary · Delaware, United States
    • SI CHI01B ABS, LLC Subsidiary · Delaware, United States
    • SI DFW01A ABS, LLC Subsidiary · Delaware, United States
    • SI DFW01B ABS, LLC Subsidiary · Delaware, United States
    • SI NAL01A ABS, LLC Subsidiary · Delaware, United States
    • SI NVA01 ABS, LLC Subsidiary · Delaware, United States
    • SI POR02 ABS, LLC Subsidiary · Delaware, United States
    • SI SVY01A-B ABS, LLC Subsidiary · Delaware, United States
    • STACK Acquisitions, LLC Subsidiary · Delaware, United States
    • STACK DC Holdings, LLC Subsidiary · Delaware, United States
    • STACK Infrastructure Guarantor, LLC Subsidiary · Delaware, United States
    • STACK Infrastructure Issuer, LLC Subsidiary · Delaware, United States
    • STACK Infrastructure Parent, LLC Subsidiary · Delaware, United States
    • STACK Infrastructure USA, LLC Subsidiary · Delaware, United States
    • STACK Parcel Holdco, LLC Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC. Each entity in the chart links to its source.

What it owns

What Blue Owl Digital Infrastructure Trust reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land and buildings$289.9M6 Dec 31, 2025

Real estate and locations

ItemLatestA year beforeChange
Real estate investments, net$3.3B6 Dec 31, 2025
Real estate investments, at cost$3.3B6 Dec 31, 2025
Real estate accumulated depreciation$10.0M6 Dec 31, 2025
Real estate properties116 Dec 31, 2025

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$186.0M6 Dec 31, 2025
Debt securities available for sale$28.6M6 Dec 31, 2025

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$522.1M6 Dec 31, 2025
Accumulated amortization$9.3M6 Dec 31, 2025
Finite-lived intangibles, net$512.8M6 Dec 31, 2025

Properties, in its own words

Our corporate headquarters are located at 150 N Riverside Plaza, 37th Floor, Chicago, IL, 60606. We believe that our office facilities are suitable and adequate for our business as it is contemplated to be conducted. For an overview of our real estate investments, see “Part II. Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations — Investment Portfolio.”

Item 2 of the 10-K filed Mar 11, 2026.5

Leadership

Who has led Blue Owl Digital Infrastructure Trust, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Matthew Richard A'Hearn2025–now

President

  1. Matthew Richard A'Hearn2025–now

Chief financial officer

  1. Kevin Halleran2025–now

Chief operating officer

  1. Bradley Tipton Berkley2025–2026
  2. Jack Viellieu2026–now
Board members and other officers (9)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 394 Pacific DC Portland Domestic REIT, LLC Delaware4
  • 394 Pacific DCP ABS, LLC Delaware4
  • Blue Owl Digital Infrastructure Trust Operating Partnership LP Delaware4
  • OD Liquid Investor LLC Delaware4
  • SI ATL01A ABS, LLC Delaware4
  • SI CHI01A ABS, LLC Delaware4
  • SI CHI01B ABS, LLC Delaware4
  • SI DFW01A ABS, LLC Delaware4
  • SI DFW01B ABS, LLC Delaware4
  • SI NAL01A ABS, LLC Delaware4
  • SI NVA01 ABS, LLC Delaware4
  • SI POR02 ABS, LLC Delaware4
  • SI SVY01A-B ABS, LLC Delaware4
  • STACK Acquisitions, LLC Delaware4
  • STACK DC Holdings, LLC Delaware4
  • STACK Infrastructure Guarantor, LLC Delaware4
  • STACK Infrastructure Issuer, LLC Delaware4
  • STACK Infrastructure Parent, LLC Delaware4
  • STACK Infrastructure USA, LLC Delaware4
  • STACK Parcel Holdco, LLC Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Sep 18, 20268-K Unregistered sale of shares; Other events23
  2. Aug 19, 20268-K Unregistered sale of shares; Other events24
  3. Aug 7, 20268-K Financial statements and exhibits25
  4. Jul 20, 20268-K Unregistered sale of shares; Other events26
  5. Jun 30, 20268-K Executive or director change27
  6. Jun 29, 20268-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation28
  7. Jun 18, 20268-K Unregistered sale of shares; Other events29
  8. May 22, 20268-K Entered a material agreement30
  9. May 19, 20268-K Unregistered sale of shares; Other events31
  10. May 6, 20268-K Other events32
  11. Apr 21, 20268-K Unregistered sale of shares; Other events33
  12. Apr 3, 20268-K Entered a material agreement; New debt or obligation34
  13. Dec 3, 2025New chief executive Matthew Richard A'Hearn becomes CEO10
  14. Apr 7, 2025Founded Blue Owl Digital Infrastructure Trust is founded2

Filings

54 filings to the SEC since October 2021: 1 annual reports, 3 quarterly reports, 19 major events, 21 insider forms, 1 private raises, 9 other. The latest 20:

  1. Oct 8, 20263 EDGAR
  2. Sep 18, 20268-K EDGAR
  3. Aug 19, 20268-K EDGAR
  4. Aug 12, 202610-Q EDGAR
  5. Aug 7, 20268-K/A EDGAR
  6. Jul 20, 20268-K EDGAR
  7. Jul 7, 20263 EDGAR
  8. Jun 30, 20268-K EDGAR
  9. Jun 29, 20268-K EDGAR
  10. Jun 18, 20268-K EDGAR
  11. May 22, 20268-K EDGAR
  12. May 19, 20268-K EDGAR
  13. May 13, 202610-Q EDGAR
  14. May 6, 20268-K EDGAR
  15. Apr 21, 20268-K EDGAR
  16. Apr 3, 20268-K EDGAR
  17. Mar 18, 20268-K EDGAR
  18. Mar 11, 202610-K EDGAR
  19. Mar 5, 20268-K EDGAR
  20. Feb 20, 20268-K EDGAR

The 54 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Nov 25, 2025Filed a private offering of equity35 Form D: named in the filing: Rick Buoncore, Marc Zahr, Alan Kirshenbaum, Nitin Sathe, Jesse Hom, Jonathan Shames Form D

SEC filer profile

How Blue Owl Digital Infrastructure Trust is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBlue Owl Digital Infrastructure Trust1
  • CIK0002069692
  • Employer ID (EIN)33-50556635
  • Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inMaryland5
  • Fiscal year endsDecember 311
  • Industry code (SIC)6798 Real Estate Investment Trusts1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business address150 N. Riverside Plaza, 37Th Floor, Chicago, IL 606061
  • Phone888-215-20151
  • Shares outstanding63,713,694 Common Class S Shares shares; 2,475,190 Common Class D Shares shares; 36,954,775 Common Class I Shares shares; 70,181,825 Redeemable Class E Common Shares shares as of Mar 10, 20265
  • Public float$0 as of Jun 30, 20256
  • AuditorKPMG LLP, Chicago, Illinois PCAOB ID 185; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceJun 10, 20251
  • Filings54 in all: 8-K (17), 3 (15), 4 (6), 10-Q (3), UPLOAD (3), 10-12G/A (2), 8-K/A (2), CORRESP (2)1
    All 12 form types

    10-12G (1), 10-K (1), 15-12G (1), D (1)

  • Latest filingsAnnual report (10-K) Mar 11, 2026
    Quarterly report (10-Q) Aug 12, 2026
    Latest 8-K (8-K) Sep 18, 2026

Risk factors and legal proceedings

The risks Blue Owl Digital Infrastructure Trust names in Item 1A of its 10-K filed Mar 11, 2026: 77 risks under these headings, as written.5

  • Risks Related to Our Business and Operations
  • We are subject to risks related to the ownership of digital infrastructure and related commercial real estate assets that could affect the performance and value of our properties.
  • We have held our current investments for a limited period of time and there is no assurance that we will be able to successfully achieve our investment objectives.
  • We face risks associated with property acquisitions.
  • We have limited opportunities to increase rents under our long-term leases with customers, which could impede our growth and materially and adversely affect us.
  • If we are unable to raise substantial additional funds, we will be limited in the number and type of investments we make and the value of your investment in us will fluctuate with the performance of the specific assets we acquire.
  • We face risks associated with the deployment of our capital.
  • If we are unable to successfully integrate new investments and manage our growth, our results of operations and financial condition may suffer.
  • Adverse economic conditions, including the resulting effect on corporate spending and investment, could have a material and adverse effect on our business, financial condition, results of operations, and cash flows.
  • Global economic, political and market conditions may adversely affect our business, financial condition and results of operations, including our revenue growth and profitability.
  • We are subject to additional risks from our non-U.S. investments.
  • Adverse economic conditions and other events or occurrences that negatively affect the general economy in the United States or in markets in which our digital infrastructure assets are geographically concentrated may materially and adversely affect our results of operations.
The other 66 risks
  • We are subject to customer and industry concentrations that make us more susceptible to adverse events than if our portfolio were more diversified.
  • Our investments are expected to be concentrated in digital infrastructure assets, where a substantial portion of such investments may derive from a small number of customers. The loss, consolidation or financial instability of any of those limited number of customers may materially decrease revenues or reduce demand for digital infrastructure assets.
  • A decrease in the demand for digital infrastructure or other technology- and connectivity-related real estate may have a significant adverse effect on the Company, which may be more materially adverse than if such properties had a more diversified customer base or less specialized use.
  • We may be unable to lease vacant space, renew leases, or re-lease space on favorable terms as leases expire.
  • There are risks associated with construction and renovation.
  • Supply chain disruptions could create unexpected renovation or maintenance costs or delays and/or could impact our customers’ businesses, any of which could materially adversely affect our results of operations.
  • The vacancy of one or more of our properties could result in us having to incur significant operating expenses and operating expenses and capital expenditures to re-lease the property.
  • Digital infrastructure assets occupied by a single customer pursuant to a single lease subject us to risk of customer default.
  • There are risks associated with the termination or expiration of leases and customer defaults.
  • Our performance depends on the collection of rent from our customers, those customers’ financial conditions, and the ability of those customers to maintain their leases.
  • Bankruptcy laws may limit our remedies if a customer becomes bankrupt and rejects the lease and we may be unable to collect balances due on our leases.
  • We may invest significantly in real estate-related equity, which is subordinate to any indebtedness, but involves different rights.
  • We may invest in equity of other REITs that invest in real estate or real estate debt as one of their core businesses and other real estate-related companies, which subjects us to certain risks including those risks associated with an investment in our own shares.
  • Elevated inflation may materially and adversely affect us and our customers.
  • Cybersecurity risks and cybersecurity incidents could adversely affect our business by causing a disruption to our operations, a compromise or corruption of our confidential information and confidential information in our possession and damage to our business relationships.
  • Increased data protection regulation may result in increased complexities and risk in connection with the operation of our business and our products.
  • Our business and operations could be adversely affected by developments in AI technologies.
  • Our use of AI technologies could lead to the exposure of our data or other adverse effects and increase competitive, operational, legal and regulatory risks in ways that we cannot predict.
  • Our business and operations could suffer in the event of system failures or cybersecurity breaches.
  • Actions by our competitors in the markets in which we own properties may decrease or prevent increases in the occupancy and rental rates of our properties.
  • Compliance with fire, safety, environmental, and other regulations may require us to make unanticipated expenditures that materially and adversely affect us.
  • Our access to external sources of capital is subject to factors outside of our control and could materially and adversely affect our growth prospects and our ability to take advantage of strategic opportunities, satisfy debt obligations and make distributions to our shareholders.
  • The acquisition of digital infrastructure assets involves risks that could materially and adversely affect our business, financial condition, results of operations and cash flows.
  • Declining real estate valuations and impairment charges could materially and adversely affect our business, financial condition, results of operations and cash flows.
  • If a sale-leaseback transaction is re-characterized in a customer’s bankruptcy proceeding, our financial condition could be adversely affected.
  • We are exposed to various environmental risks, which may result in unanticipated losses that could affect our business, financial condition, results of operations, and cash flows.
  • Climate change and climate-related effects may expose us to systemic, global and macroeconomic risks and could adversely affect our business.
  • Insurance on our properties may not adequately cover all losses and uninsured losses could materially and adversely affect us.
  • We may obtain only limited representations and warranties when we acquire a digital infrastructure asset and may only have limited recourse if our due diligence did not identify issues that may subject us to unknown liabilities or lower the value of such asset, which could adversely affect our financial condition and ability to make distributions to you.
  • Our anticipated amount of debt may subject us to an increased risk of loss and could adversely affect our results of operations and financial condition.
  • We may encounter adverse changes in the credit markets.
  • Our investments are expected to be substantially illiquid.
  • The agreements governing our indebtedness place restrictions on us and our subsidiaries, reducing operational flexibility and creating default risks, and our failure to comply with all covenants in our existing or future financing agreements could materially and adversely affect us.
  • Covenants in the agreements governing our indebtedness could restrict our ability to make distributions to our shareholders necessary to qualify as a REIT, which could materially and adversely affect us and the net asset value of our shares.
  • The financial covenants in our loan agreements may restrict our operating or acquisition activities, which may harm our financial condition and operating results.
  • An increase in market interest rates may materially and adversely affect us and our customers.
  • We may invest in derivatives, which involve numerous risks.
  • We may enter into total return swaps that would expose us to certain risks, including market risk, liquidity risk and other risks similar to those associated with the use of leverage.
  • We intend to use reverse repurchase agreements to finance our securities investments, which may expose us to risks that could result in losses.
  • We will face risks associated with hedging transactions, and failure to hedge effectively against interest rate changes may materially and adversely affect our financial condition, results of operations, cash flows, cash available for distribution and our ability to service our debt obligations.
  • We will face risks associated with our investments that are denominated in foreign currency.
  • The success of any joint venture investments that we may make could be materially and adversely affected by our lack of sole decision-making authority, our reliance on joint venture partners’ financial condition and liquidity, and disputes between us and our joint venture partners.
  • Compliance or failure to comply with regulatory requirements could result in substantial costs.
  • We and our customers are subject to increasing scrutiny from certain investors, third-party assessors, and our shareholders with respect to sustainability-related topics.
  • We are subject to increasing scrutiny from regulators with respect to sustainability-related issues and the regulatory disclosure landscape surrounding related topics continues to evolve.
  • Certain of our digital infrastructure assets may be special use or build-to-suit and may be difficult to sell or relet upon customer defaults or lease terminations.
  • We may incur costs to finish build-to-suit properties.
  • Certain of our investments may be in the form of ground leases, which provide limited rights to the underlying property.
  • We may be exposed to substantial risk of loss arising from investments involving undisclosed or unknown environmental, health, or occupational safety matters, or inadequate reserves, insurance, or insurance proceeds for such matters that have been previously identified.
  • We may be subject to litigation or threatened litigation, which may divert management’s time and attention, require us to pay damages and expenses or restrict the operation of our business.
  • We may make open market purchases or invest in traded securities.
  • There is a risk that assets will be subject to the exercise of eminent domain.
  • Risks Related to Investments in Digital Infrastructure Assets
  • Our digital infrastructure investments are subject to risks from changes in demand, technology and customer preferences and competition in the data center industry.
  • Our digital infrastructure investments may not be suitable for re-leasing without significant expenditures or renovations.
  • We may incur costs in connection with the development, renovation or maintenance of undeveloped or underdeveloped properties.
  • Our ability to lease any available space at our data centers to existing or new customers could be constrained by our ability to obtain sufficient electrical power.
  • We depend on third parties to provide network connectivity to the customers in our digital infrastructure investments and any delays or disruptions in connectivity may materially adversely affect our operating results and cash flow.
  • We may not be able to adapt to changing technologies and customer requirements, and our digital infrastructure investments may become obsolete.
  • We will compete with numerous digital infrastructure developers, owners and operators.
  • Any failure in the physical infrastructure of or services provided by digital infrastructure assets in which the Company may invest could lead to significant costs and disruptions that may reduce revenues and have a material adverse effect on the Company’s cash flow and operating results.
  • We will depend on third-party management of our digital infrastructure assets.
  • The Company’s customers may be liable for the material that content providers distribute over their network.
  • Risks Related to Debt Investments
  • Debt Investments are subject to risks including various creditor risks and early redemption features that may materially adversely affect our results of operations and financial condition.
  • Our Debt Investments face prepayment risk and interest rate fluctuations that may adversely affect our results of operations and financial condition.
  • Reinvestment risk could affect the price for our shares or their overall returns.
  • Debt-oriented real estate investments face a number of general market-related risks that can affect the creditworthiness of issuers, and modifications to certain loan structures and market terms make it more difficult to monitor and evaluate investments.

Legal proceedings

From time to time, we may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of our rights under contracts with our portfolio companies. We may also be subject to regulatory proceedings. While the outcome of these legal or regulatory proceedings cannot be predicted with certainty, we do not expect that these proceedings will have a material effect upon our financial condition or results of operations. As of December 31, 2025, we were not involved in any material legal proceedings.

The opening of Item 3, Legal Proceedings.5

Sources

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    SEC EDGAROther events
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