Partially Realized

Growth Fund III

Investment Summary

Our third growth Fund, Origin Fund III, closed at more than $150 million in July of 2018. The Fund’s strategy was to acquire value-add multifamily and office properties in high growth markets and it acquired 17 assets to provide diversification and reduce investor risk. Origin Fund III focused on smaller commercial real estate transactions between $10-40 million where competition was limited and inefficiencies abundant. Origin co-principals David Scherer and Michael Episcope invested $11.7 million of their own capital in the Fund alongside investors.

11.1%

Hypothetical Net IRR as of 09/30/20231

1.49x

Hypothetical Net Multiple as of 09/30/20231

2016

Vintage

Closed-End

Fund Structure

Fund Properties

Rosehill Preserve
Realized

Rosehill Preserve

Orlando, FL
Gross IRR 34.60%
Gross Multiple 1.88x
Equity Type Equity
675 North Highland
Realized

675 North Highland

Atlanta, GA
Gross IRR 14.80%
Gross Multiple 1.95x
Equity Type Equity
The Clayson
Realized

The Clayson

Palatine, IL
Gross IRR 19.00%
Gross Multiple 2.05x
Equity Type Equity
One and Two Oak Lawn
Realized

One and Two Oak Lawn

Dallas, TX
Gross IRR 1.00%
Gross Multiple 1.05x
Equity Type Equity
Ellsworth Lofts
Realized

Ellsworth Lofts

Atlanta, GA
Gross IRR 14.57%
Gross Multiple 1.67x
Equity Type Equity
Keystone 100
Realized

Keystone 100

Durham, NC
Gross IRR 11.90%
Gross Multiple 1.72x
Equity Type Equity
511 Meeting
Realized

511 Meeting

Charleston, SC
Gross IRR 14.38%
Gross Multiple 1.85x
Equity Type Equity
Trinity Place
Realized

Trinity Place

Raleigh, NC
Gross IRR 11.89%
Gross Multiple 1.57x
Equity Type Equity
Puritan Mill
Realized

Puritan Mill

Atlanta, GA
Gross IRR 22.30%
Gross Multiple 2.38x
Equity Type Equity
Stella at the Medical Center
Realized

Stella at the Medical Center

Houston, TX
Gross IRR 11.90%
Gross Multiple 1.84x
Equity Type Equity
Haven Bellaire
Realized

Haven Bellaire

Houston, TX
Gross IRR 41.50%
Gross Multiple 2.26x
Equity Type Equity
Connect at First Creek
Realized

Connect at First Creek

Denver, CO
Gross IRR 42.00%
Gross Multiple 3.90x
Equity Type Equity
The Fletcher Southlands
Realized

The Fletcher Southlands

Aurora, IL
Gross IRR 30.20%
Gross Multiple 2.25x
Equity Type Equity
Cherry Creek Plaza
Realized

Cherry Creek Plaza

Glendale, CO
Gross IRR 14.07%
Gross Multiple 1.62x
Equity Type Equity
Farm Haus Apartments
Unrealized

Farm Haus Apartments

Longmont, CO
Gross IRR
Gross Multiple
Equity Type Equity
Alto Highland Park
Unrealized

Alto Highland Park

Dallas, TX
Gross IRR
Gross Multiple
Equity Type Equity
549 W. Randolph
Unrealized

549 W. Randolph

Chicago, IL
Gross IRR
Gross Multiple
Equity Type Equity
  1. IRR and equity multiple calculated based on a hypothetical liquidation of the Fund as of 09/30/2023. Hypothetical performance doesn’t represent an actual investment and frequently has sharp differences from actual returns. Hypothetical returns are inclusive of appreciation and reinvestment of distributions and are net of fees.