Investment Philosophy

Origin Investments was founded in 2007 by David Scherer and Michael Episcope. The firm was created to provide an investment platform aligned with their high standards for performance, transparency and investor alignment.

Origin Credit Advisers, founded in 2023 as an affiliate firm of Origin Investments, is an SEC-registered investment adviser specializing in yield-focused multifamily debt investments for qualified purchasers. Leveraging over 15 years of experience in equity and credit markets, the firm utilizes proprietary machine-learning models with local market expertise to inform its investment strategy. Origin Credit Advisers offers the Strategic Credit Fund, aiming to provide investors with a consistent stream of risk-adjusted income and capital protection by investing in liquid credit securities, preferred equity, and issuing private debt in the multifamily real estate market.

Origin manages $3.1B in assets under management (AUM)¹ and has executed over $4.3B in real estate transactions². Our multifamily portfolio includes over 4,300 units under management³ and 10,200 units under development³. Additionally, Co-CEOs Michael Episcope and David Scherer have personally invested over $91M alongside clients since Origin’s inception³ in 2007, demonstrating strong alignment with investors. *This will need to be updated quarterly and include an as of date i.e. as of 9/30/2024.

1. References to ‘assets under management’ or ‘AUM’ represent the real estate investments managed by Origin Investments’ subsidiaries, including Origin Credit Advisers, an SEC-registered investment adviser, as to which Origin is entitled to receive a fee, preferred return, or carried interest. Origin’s calculation of AUM may differ from the calculations of other real estate asset managers and, as a result, Origin’s measurement of its AUM may not be comparable to similar measures presented by other asset managers. AUM as of 9/30/24.
2. As of 9/30/24.
3. As of 9/30/24. Units under management and units under development represents common equity and preferred equity positions. 2) The Multifamily Credit Fund and Strategic Credit Fund are managed by Origin Credit Advisers LLC, an SEC registered investment adviser.

Origin’s co-CEOs have invested over $91M of their personal capital across Origin’s Funds, ensuring alignment with investor goals. Additionally, investors receive a preferred return before Origin earns incentive compensation. The Origin team is also incentivized in alignment with investors, reinforcing a shared commitment to achieving strong, risk-adjusted returns.

Origin specializes in a variety of private real estate investments and offerings, focusing on multifamily and mixed-use properties in high-growth markets. We leverage proprietary data-driven models to identify and underwrite investments. Our offerings include evergreen, open-end funds, individual deals, and event-driven tax deferral and elimination strategies such as Qualified Opportunity Zone (QOZ) funds and 1031/721 exchange solutions. Additionally, we offer diverse debt and equity investment opportunities, ensuring flexibility and alignment with investor needs while maximizing risk-adjusted returns.

Origin Investments concentrates on acquiring and developing institutional-quality, Class A multifamily properties, typically comprising 200 to 400 units. These properties cater to ‘renters by choice’—individuals who prefer the flexibility and amenities of renting high-quality apartments in desirable locations. This focus aligns with our strategy to invest in assets that offer strong risk-adjusted returns and appeal to a stable tenant base.

We target high-growth markets in the Southeast and Southwest U.S., identified using machine learning and factors like employment growth, population trends and supply-demand fundamentals.

Investments typically range in property value from $25 million to $75 million, though larger or smaller deals may be considered.

We perform rigorous due diligence, reviewing market conditions, property-level net operating income, lease agreements, tenant credit and environmental factors. The Investment Committee approves each deal by consensus.

As risk managers, Origin sets realistic expectations for investment performance while maintaining high standards. We only pursue deals that meet our rigorous criteria for risk-adjusted returns, ensuring long-term value creation for investors.

Origin Investments is headquartered in Chicago, with regional offices in Denver, Charlotte, Nashville and Dallas, supporting a national investment footprint. Key members of our management team live in our target markets. This localized presence fosters relationships with brokers, developers and property owners, giving us access to exclusive opportunities that competitors may not reach.

Origin’s extensive track record and reputation provide early access to deals through a robust network of multifamily owners, operators and experts. Additionally, Origin Credit Advisers has earned the credentials to acquire and invest in securitizations directly through Freddie Mac, further enhancing our market presence and deal flow.

• Stable Leadership: Our experienced team has weathered previous market shocks and is prepared for future dislocations.
• Proprietary Data Insights: Multilytics® enhances our ability to analyze and select high-growth submarkets accurately.
• Agility: Our flexible approach to investment and fund management strategy enables us to pivot in response to evolving market conditions, ensuring our teams capitalize on the best opportunities for risk-adjusted returns
• Key Relationships: Decades of trust-building with multifamily stakeholders—including owners, operators, developers, lenders and brokers—provide us with priority access to exclusive, high-quality investment opportunities. Approximately 50% of these opportunities are sourced off-market, reflecting the strength and depth of our network.
• Disciplined Risk Management: Conservative practices and stress testing underpin every decision.

Multilytics® is Origin’s proprietary suite of machine-learning models that analyzes billions of data points to provide accurate, granular rent growth projections. It analyzes submarkets down to the property level, providing data-driven insights for due diligence, deal analysis and stress testing. This tool gives Origin a competitive edge by identifying high-growth opportunities with precision.

Origin’s stability, relationships and experience are key differentiators. Our management team, which navigated the Global Financial Crisis (GFC) fallout for Origin, continues to lead our Funds. This experience, combined with our disciplined risk management and readiness for market dislocation, positions us to capitalize on generational investment opportunities.

Origin mitigates risk through comprehensive underwriting, portfolio diversification, moderate use of leverage and proprietary financial modeling. Our team stress tests assumptions to ensure investments meet rigorous standards.

Risk management is central to Origin’s strategy. We adhere to conservative, disciplined practices, including regular stress testing of assets and funds. We treat leverage with caution and ensure that it is used strategically to maximize opportunities without overexposing funds to unnecessary risk. Repetitive with some questions above. Potentially remove.

Origin’s investment strategy evolves with market shifts. Over the years, we’ve transitioned from value-add acquisitions to core-plus, development, preferred equity, direct financing and the acquisition of multifamily securitizations. As a flexible capital provider, our capabilities have expanded and adapted to meet market demands, allowing us to identify and pursue the best relative risk-adjusted returns while maintaining disciplined standards.