Origin Investments has launched the Origin Select Asset Fund, a $100 million short-duration investment vehicle designed to back five high-margin, ground-up multifamily developments across select Sun Belt and Mountain growth markets. The strategy seeks to capitalize on favorable market timing, with developments set to begin over the next two years and deliver into what Origin expects will be a markedly stronger fundamentals environment. 

To enhance investor returns, Origin is offering a co-investment vehicle that will invest alongside the fund. Eligible individual investors and registered investment advisors who meet minimum thresholds can participate with no management fee and no carried interest for the first five years, aligning incentives and increasing potential net outcomes. 

The fund is structured to raise and deploy capital by the end of 2026, with unit deliveries anticipated in 2027 and 2028. Investor liquidity is expected by 2031, positioning the fund for a four-year value-creation period. “We believe 2026 will turn out to be a great vintage for real estate,” said Michael Episcope, co-CEO of Origin Investments. “The fundamentals are slowly improving and by the time we deliver these developments, the market will look very different.” 

The Select Asset Fund targets a 14%-18% net internal rate of return and an equity multiple from 1.5x to 1.7x over four years. The returns for co-investors may be enhanced further by the elimination of fees on a portion of their investment. Investors who commit at least $500,000, and RIAs whose clients collectively invest $2.5 million or more, qualify for co-investment eligibility above those levels. 

Origin has already identified a shovel-ready pipeline of ground-up multifamily projects—including developments in Phoenix and Las Vegas. “We have a pipeline of high-quality deals that will enable us to fully deploy the Fund’s capital in less than 12 months,” Episcope added.