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Investments in Unconsolidated Real Estate Affiliates (Tables)
 12 Months Ended
Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Real Estate Affiliates
The following table details the Company’s investments in unconsolidated real estate affiliates (dollars in thousands):
Carrying Amount of InvestmentORENT's Share of Unconsolidated Entities' Income
InvestmentOwnership PercentageDecember 31, 2023December 31, 2022December 31, 2023December 31, 2022
STORE Capital LLC ("STORE") (1)
7.4 %$675,944 $— $8,644 $— 
Blue Owl NL Opportunity Credit REIT E LLC ("Fleet Farm JV") (2)
49.1 %6,058 6,514 (12)300 
Blue Owl NL Opportunity Credit Holdings REIT LLC ("Tenneco JV") (3)
50.9 %23,626 — 5,333 — 
Total$705,628 $6,514 $13,965 $300 
(1)    The Company’s share of STORE’s net income includes our portion of STORE’s income and unrealized gains/losses based on our varying ownership percentage, which increased throughout the period, as well as our pro-rata share of OS Aggregator’s expenses.
(2) On August 12, 2022, the Company formed Oak Street NL Opportunity Credit REIT E LLC (“Fleet Farm JV”), a joint venture which the Company holds a 49.1% ownership in and accounts for under the equity method of accounting. The Company’s initial contribution into the joint venture was $6,986. The joint venture acquired two properties, which are leased on a triple net basis to the tenant. On September 18, 2023, Fleet Farm JV changed its legal name to Blue Owl NL Opportunity Credit REIT E LLC pursuant to a certificate of amendment to its Certificate of Formation filed with the Secretary of State of Delaware on September 18, 2023.
(3)    On June 5, 2023, the Company formed Blue Owl NL Opportunity Credit Holdings REIT LLC (“Tenneco JV”), a joint venture which the Company holds a 50.9% ownership in and accounts for under the equity method of accounting. The Company has elected to account for the investment using the FVO under ASC 825. The Company’s initial contribution into the joint venture was $41,738. The joint venture acquired four properties, which are leased on a triple net basis to the tenant. On July 7, 2023, the Company contributed an additional $9,467 into the joint venture. The additional capital contributed pro rata by each partner was used to acquire two additional properties, which are leased on a triple net basis to the tenant.

The following tables provide summarized financial information of our unconsolidated real estate affiliates as of the dates and periods set forth below (dollars in thousands):
Balance Sheets (unaudited)December 31, 2023December 31, 2022
STOREFleet FarmTennecoSTOREFleet FarmTenneco
Total assets$15,382,298 $30,815 $109,070 $— $31,554 $— 
Total liabilities$6,086,983 $18,369 $61,660 $— $18,508 $— 
Total equity$9,295,315 $12,446 $47,410 $— $13,046 $— 

Income Statements (unaudited)For the Year Ended December 31, 2023For the Period from Inception through December 31, 2022
STOREFleet FarmTennecoSTOREFleet FarmTenneco
Total revenue$940,114 $2,550 $4,918 $— $987 $— 
Net income (loss)$508,050 $(25)$2,757 $— $(274)$—