Select Asset Fund
An Opportunistic Multifamily Real Estate Fund Built for Growth
Fund Highlights
Select Asset Fund targets high-margin, ground-up multifamily developments in fast-growing Sun Belt and Mountain markets where future supply is constrained.
Short Duration
The Fund will have a five-year term, including the capital call period, to help maximize investor returns while minimizing the fund tail.
Co-Invest Access
Larger investors can co-invest alongside the fund with no fees—significantly enhancing blended returns.
Optional Income Period
After the development period, investors can redeem their interests at fair market value or opt to remain in the Fund for income.
Why Multifamily Now?
Prohibitive Cost of Homeownership
The affordability gap between renting and owning is widening—$1,200 more per month to own versus renting.
64%
More Expensive to Own Versus Rent3
Housing Shortage
A persistent nationwide housing shortage has been further compounded by a sharp drop in new construction over the last few years.
-30%
Multifamily starts down from 3Q22 peak4
Demand Outpacing Supply
Annual absorption rates are surging to historic highs while new starts remain low.
3x
More Demand than New Supply5
Positioned for Growth Ahead
The Fund will focus on high-growth U.S. cities where population, job creation, and rental demand are strong, and will be delivering units into an environment with constrained supply.
Five-Year Projected Rent Growth
Charlotte
+5%
Denver
+5%
Las Vegas
+5%
Nashville
+5%
Orlando
+5%
Phoenix
+5%
Tampa
+6%
National Avg.
+3%
As of 9/23/2025. Represents a five-year prediction for the period 2024-2028.
FEATURED PIPELINE DEAL
Suburban Phoenix Development6
This high-quality project is positioned within the Medina Station mixed-use master plan and will feature premium interiors and luxury community amenities. The project is in partnership with Tier-1 developer NRP Group—our fourth collaboration with a firm that has delivered more than 50,000 apartment units nationwide.
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Optional Income Period
After the initial four-year hold period, investors may choose to redeem at fair market value or remain in the fund to continue participating in appreciation, income, and tax efficiency.
5%–6%
Target Net Annual Distributions7
3%–4%
Target Net Annual Appreciation7
8%–10%
Target Net Annualized Total Return7
Co-Invest with No Fees*
Investors committing beyond the minimums specified below will gain access to the Fund’s co-investment vehicle with no fees on capital.
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INDIVIDUALS
$500K
Minimum Fund Commitment
Co-Invest Access
No Management Fee
No Performance Fee
FINANCIAL ADVISORS
$2.5M
Minimum Fund Commitment* *aggregate
Co-Invest Access
No Management Fee
No Performance Fee
*Investors may commit to invest in the co-investment vehicle an amount up to 100% of their fund commitment. No fees are charged during the development period of the co-investment fund. Applicable fees charged thereafter. See offering materials for details.
Projected Returns*
Projected growth of a $1M investment with and without co-investment.
*Targeted performance doesn’t represent an actual investment in the Fund and frequently has sharp differences from actual returns. Targeted returns are inclusive of appreciation and are net of fees. There can be no assurance that the Fund will achieve comparable results or meet its target returns. Targeted performance assumes a sale of the Fund’s investments 5 years after the Fund’s initial closing. Co-Investment returns shown assume a co-investment of 50% of the fund investment. Individual returns will vary based on the amount of co-investment.
Why Origin?
Zero Losses in Multifamily
Origin’s institutional-quality team has executed billions in real estate transactions across U.S. markets for over two decades and has never lost money on a multifamily deal.
Data-Driven Process
We combine our in-market expertise with Multilytics®, our proprietary machine learning platform, to analyze market dynamics and evaluate opportunities with the objective of generating attractive risk-adjusted returns.
Alignment
Our Co-CEOs have personally invested more than $97 million of their own capital alongside investors since the inception of the firm in 2007, because they believe that alignment is one of the best ways to ensure our investors win.
Capital Invested by CEOs Since Inception7
Video Transcript
MICHAEL Alignment starts. It really starts with the why? Why are you doing this? What are you in the business for? Are you in this to make investment returns or are you in this to generate a bunch of fees? And we think about alignment. The best metric for alignment is how much do you invest in your own deals?
DAVID There’s so many variables investors looking at when they decide to make or not make an investment. And a lot of those variables really can be boiled down to is the management team. Do they also believe in what they’re selling? Do they want to invest into it? How much do they want to invest? Is it significant? Are the fees structured in a way that the management team only benefits.
MICHAEL David and I are the largest investors at origin even today, because we believe in every investment that we make and every product that we build, it’s really in the eyes of us that we build products, and then we invest in them.
DAVID And we’ll continue to invest significant personal capital. I get personally all kinds of opportunities to invest and with other managers, public private investments. And I always come back to I think I just want to invest here. And there’s amazing investments and I know all about them. I don’t I don’t have to try to figure out what the hidden catches are. There are none. And so I literally continue to just reinvest here. I did it again last month. Last week.
MICHAEL We are after one thing and that’s investment returns. If we get that, everything else solves itself.
DAVID Another important thing about alignment is we have a homogenous investor group. We’re all tax investors. And so all the funds that we have, they’re not just looking for returns and risk adjusted returns. They’re looking for tax efficiency.
MICHAEL And there’s a famous saying show me the incentive and I’ll show you the outcome. And we truly believe that Origin.
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What’s inside:
Why Multifamily Now?
Deal Pipeline
Fund Terms
- Targeted performance doesn’t represent an actual investment in the Fund and frequently has sharp differences from actual returns. Targeted returns are inclusive of appreciation and are net of fees. There can be no assurance that the Fund will achieve comparable results or meet its target returns. Targeted performance assumes a sale of the Fund’s investments 5 years after the Fund’s initial closing.
- Targeted performance doesn’t represent an actual investment in the Fund and frequently has sharp differences from actual returns. Targeted returns are inclusive of appreciation and are net of fees. There can be no assurance that the Fund will achieve comparable results or meet its target returns. The target total return for the optional income period is inclusive of 5%-6% target net annual distributions and 3%-4% target net annual appreciation.
- Newmark 2Q25 U.S. Multifamily Capital Markets Report. According to Newmark research, the average effective monthly rent was $1,869, where the total median monthly payment (for homeownership) was $3,069 as of 1Q25.
- Federal Reserve Bank of St. Louis.
- RealPage Market Analytics as of 6/20/25.
- This assets has been identified as prospective fund investment, and is representative of the types of assets in which the fund intends to invest, but there is no guarantee that the fund will make this investment or complete this development.
- Targeted performance doesn’t represent an actual investment and frequently has sharp differences from actual returns. Targeted returns are inclusive of appreciation and reinvestment of distributions and are net of fees. There can be no assurance that the Fund will achieve comparable results or meet its target returns.
- This is an aggregate amount that has been invested and reinvested in Origin funds since the inception of the company in 2007.