OAKTREE REAL ESTATE INCOME TRUST, INC.
Oaktree Investor Share Repurchase Arrangement
Effective as of September 11, 2019
Company shall mean Oaktree Real Estate Income Trust, Inc., a Maryland corporation.
Eligible Shares shall mean Class I Shares acquired by the Oaktree Investor prior to the breaking of escrow in the Offering.
Excess Operating Cash Flow shall mean, for any given month, the Companys net cash provided by operating activities, if any, computed in a manner consistent with U.S. generally accepted accounting principles, less any amounts of such cash provided by operating activities used, or designated for use, to pay distributions to Stockholders.
Existing Share Repurchase Plan shall mean the Class T, S, D and I Share Repurchase Plan, effective as of March 20, 2018, as amended or supplemented.
Monthly Repurchase Amount shall mean, for any given month, the number of Eligible Shares having an aggregate NAV equal to (i) the net proceeds from new subscriptions for Shares in the Companys public offering that month (which subscriptions will be accepted as of the first calendar day of the following month) less (ii) the aggregate repurchase price (excluding any amount of the aggregate repurchase price paid using Excess Operating Cash Flow) of Shares repurchased by the Company that month pursuant to the Existing Share Repurchase Plan.
NAV shall mean the net asset value of the Company or a class of its Shares, as the context requires, determined in accordance with the Companys valuation policies and procedures.
Oaktree Investor shall mean Oaktree Fund GP I, L.P. or its affiliated designee.
Offering shall mean the continuous public offering of the Shares.
Shares shall mean shares of the Companys common stock.
Stockholders shall mean the holders of the Shares.
Transaction Price shall mean the repurchase price per share for each class of Shares, which shall be equal to the then-current offering price before applicable selling commissions and dealer manager fees, as determined monthly.
Share Repurchase Arrangement
The Oaktree Investor has notified the Company of its intent to subscribe for Class I Shares in an amount such that, together with all other subscriptions for Shares, the escrow minimum offering amount for the Offering will be satisfied. In recognition of the Oaktree Investor supporting the escrow break for the Offering, the Company has adopted this Share Repurchase Arrangement.