Basis of Presentation

12 Months Ended

Dec. 31, 2023

Oak Street Real Estate Capital Fund IV and V Acquired Predecessor Portfolio

Entity Information [Line Items]

Basis of Presentation

Basis of Presentation

The accompanying combined statements of revenues and certain operating expenses (the “Statements”) have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The Statements have

been prepared for the purpose of providing Predecessor financial results under the preparation provisions of Rule 3-14 of Regulation S-X promulgated by the Securities and Exchange Commission (SEC) and is not intended to be a complete presentation of the actual operation of these combined entities for the periods presented.

The Statements are not intended to be a complete presentation of the revenues and expenses for the Predecessor. The Statements exclude certain expenses such as interest, depreciation and amortization, non-recurring professional fees, corporate expenses, management fees, and other revenues and expenses not directly related or comparable to, or expected to be incurred in, the future operations of the Predecessor.

Given there is a change of control upon acquisition of the Predecessor properties by ORENT, there is a step up in value of the properties acquired, and therefore, results of the Predecessor are not comparable to results of ORENT due to the difference in basis. The Statements are presented on a combined basis because the properties of Fund IV and Fund V are both under common management. All intercompany transactions and balances, if any, have been eliminated in combination.