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Origin Investments Closes OZ Fund; Plans to Launch Another

Origin Investments, a real estate fund manager, announced the final close of Origin Qualified Opportunity Zone Fund II after raising more than $300 million which follows raising more than $264 million for Origin Qualified Opportunity Zone Fund I.

To date, Origin’s QOZ Fund II has committed to seven different ground-up multifamily rental developments expected to total more than 2,500 units in Atlanta, Colorado Springs, Jacksonville, Nashville, and Tampa. Origin says the company anticipates that when fully invested, the QOZ Fund II portfolio will include several additional ground-up rental developments with a total portfolio construction value of as much as $500 million.

Currently, Origin is making plans to launch Origin Qualified Opportunity Zone Fund III in the second quarter of 2023.

“Our ability to raise more than $564 million for opportunity zone fund developments is a testament to a perpetual demand for investment vehicles that seek to produce tremendous returns along with unique tax advantages,” said Michael Episcope, co-chief executive officer, Origin Investments.

The seven properties that to date comprise QOZ Fund II include:

  • Edgehill Commons – a 740-unit rental community that is being developed in phases in downtown Nashville, Tennessee. The joint venture partner is Marquette Properties.
  • Two Rivers Ranch – a $70 million, 256-unit multifamily community that will be developed in Tampa, Florida. The joint venture partner is Roers Companies.
  • 500 Sawtell – a 1,600-unit multifamily community that will be developed in phases south of downtown Atlanta, Georgia. The joint venture partner is Kaplan Residential.
  • Elan Rio Grande – a $70 million, 207-unit multifamily rental development located in Colorado Springs, Colorado. The joint venture partner is Greystar.
  • RISE St. Augustine – a $99.1 million, 272-unit build-for-rent residential community located in Jacksonville, Florida. The joint venture partner is RISE.
  • AVA Gainesville – an $86.7 million, 231-unit build-for-rent residential development in suburban Atlanta, Georgia. The joint venture partner is TWO Capital Partners.
  • AVA Madison – an $84.8 million, 199-unit build-for-rent residential community located in suburban Nashville, Tennessee. The joint venture partner is TWO Capital Partners.

Origin Investments is a private real estate manager that builds, buys and finances multifamily real estate projects in markets throughout the U.S. Since their founding in 2007, they have executed more than $2.8 billion in real estate transactions. Cumulatively, through its two funds and an independent, sidecar QOZ offering, Origin has raised more than $585 million and committed to 18 ground-up multifamily rental communities totaling more than 6,269 units with a construction value exceeding $1 billion.

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