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Investments in Unconsolidated Real Estate Affiliates (Tables)
 12 Months Ended
Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Investments in Unconsolidated Real Estate Affiliates
The following table details the Company’s investments in unconsolidated real estate affiliates (dollars in thousands):
Ownership PercentageCarrying Amount of InvestmentORENT's Share of Unconsolidated Entities' Income
InvestmentDecember 31, 2024December 31, 2023December 31, 2024December 31, 2023December 31, 2024December 31, 2023
STORE Capital LLC ("STORE") (1)
16.4 %7.4 %$1,704,458 $675,944 $215,264 $8,644 
Blue Owl NL Opportunity Credit REIT E LLC ("Fleet Farm JV") (2)
49.1 %49.1 %5,701 6,058 115 (12)
Blue Owl NL Opportunity Credit Holdings REIT LLC ("Tenneco JV") (3)
50.9 %50.9 %28,808 23,626 7,140 5,333 
CoreWeave JV (4)
14.3 %— %8,820 — (603)— 
Total$1,747,787 $705,628 $221,916 $13,965 
(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 Company received return of capital distributions of $31,486 in 2023, primarily funded by a mortgage loan entered into by wholly owned subsidiaries of the Tenneco JV for its six assets in November 2023.
(4)    The Company’s share of CoreWeave JV’s net income includes our portion of CoreWeave JV’s income based on our ownership percentage, as well as our pro-rata share of BOREC Spider Member LLC’s expenses.

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, 2024December 31, 2023
Investment
Total assets
Total liabilities
Total equity
Total assets
Total liabilities
Total equity
STORE
$15,162,573 $6,577,804 $8,584,769 $15,382,298 $6,086,983 $9,295,315 
Fleet Farm JV
$30,271 $18,551 $11,720 $30,815 $18,369 $12,446 
Tenneco JV
$119,064 $61,602 $57,462 $109,070 $61,660 $47,410 
CoreWeave JV
$227,147 $165,224 $61,923 $— $— $— 

Income Statements (unaudited)For the Year Ended December 31, 2024For the Year Ended December 31, 2023For the Period from Inception through December 31, 2022
InvestmentTotal revenueNet incomeTotal revenueNet IncomeTotal revenueNet Income
STORE$1,152,416 $123,193 $940,114 $508,050 $— $— 
Fleet Farm JV
$2,560 $249 $2,550 $(25)$987 $(274)
Tenneco JV
$8,891 $14,133 $4,918 $2,757 $— $— 
CoreWeave JV
$— $2,679 $— $— $— $—