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.
10.6%
Hypothetical Net IRR as of 03/31/20241
1.48x
Hypothetical Net Multiple as of 03/31/20241
2016
Vintage
Closed-End
Fund Structure
Fund Properties
Realized
Rosehill Preserve
Orlando,
FL
Gross IRR
34.60%
Gross Multiple
1.88x
Equity Type
Equity
Realized
675 North Highland
Atlanta,
GA
Gross IRR
14.80%
Gross Multiple
1.95x
Equity Type
Equity
Realized
The Clayson
Palatine,
IL
Gross IRR
19.00%
Gross Multiple
2.05x
Equity Type
Equity
Realized
One and Two Oak Lawn
Dallas,
TX
Gross IRR
1.00%
Gross Multiple
1.05x
Equity Type
Equity
Realized
Ellsworth Lofts
Atlanta,
GA
Gross IRR
14.57%
Gross Multiple
1.67x
Equity Type
Equity
Realized
Keystone 100
Durham,
NC
Gross IRR
11.90%
Gross Multiple
1.72x
Equity Type
Equity
Realized
511 Meeting
Charleston,
SC
Gross IRR
14.38%
Gross Multiple
1.85x
Equity Type
Equity
Realized
Trinity Place
Raleigh,
NC
Gross IRR
11.89%
Gross Multiple
1.57x
Equity Type
Equity
Realized
Puritan Mill
Atlanta,
GA
Gross IRR
22.30%
Gross Multiple
2.38x
Equity Type
Equity
Realized
Stella at the Medical Center
Houston,
TX
Gross IRR
11.90%
Gross Multiple
1.84x
Equity Type
Equity
Realized
Haven Bellaire
Houston,
TX
Gross IRR
41.50%
Gross Multiple
2.26x
Equity Type
Equity
Realized
Connect at First Creek
Denver,
CO
Gross IRR
42.00%
Gross Multiple
3.90x
Equity Type
Equity
Realized
The Fletcher Southlands
Aurora,
IL
Gross IRR
30.20%
Gross Multiple
2.25x
Equity Type
Equity
Realized
Cherry Creek Plaza
Glendale,
CO
Gross IRR
14.07%
Gross Multiple
1.62x
Equity Type
Equity
Unrealized
Farm Haus Apartments
Longmont,
CO
Gross IRR
–
Gross Multiple
–
Equity Type
Equity
Unrealized
Alto Highland Park
Dallas,
TX
Gross IRR
–
Gross Multiple
–
Equity Type
Equity
Unrealized
549 W. Randolph
Chicago,
IL
Gross IRR
–
Gross Multiple
–
Equity Type
Equity
- IRR and equity multiple calculated based on a hypothetical liquidation of the Fund as of 03/31/2024. 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.