Origin Investments Acquires 323-Unit Broadstone Optimist Park in Charlotte, N.C. Origin’s North Carolina Portfolio Expands to Eight Properties, 2,100+ Units

Cushman & Wakefield Completes Property Sale, Arranges Financing

CHARLOTTE (May 5, 2025)—Origin Investments, a leading multifamily real estate fund manager, has acquired Broadstone Optimist Park (Broadstone), a newly constructed, 323-unit multifamily property at 2010 N. Brevard St. in Charlotte. The acquisition of Broadstone, a property that is being renamed and rebranded, further increases Origin’s holdings in Charlotte and across North Carolina.

Cushman & Wakefield’s Alex McDermott, Paul Marley, Charlie Gravina and Rhodes Marley marketed the property for sale. Drew Barnette, Ben Huckaby and Mike Pfaff, also of Cushman & Wakefield, arranged the acquisition financing for Origin. The final sale price was $91,500,000.

Constructed in 2023, Broadstone is strategically located just minutes from Uptown Charlotte’s job hub and nestled between two of the city’s premier entertainment districts—NoDa and Plaza Midwood. The property offers studio, one- and two-bedroom units. At the time of Origin’s acquisition, Broadstone was 91% leased.

The residences feature spacious balconies and designer finishes. Community amenities include a resort-style pool and courtyard with cabanas, state-of-the-art fitness center and indoor/outdoor clubroom with full kitchen and grill area.

“We are thrilled to add this high-quality, transit-oriented asset to our existing footprint here in Charlotte,” said Dave Welk, Managing Director of Acquisitions and Head of Equity Investments, Origin Investments. “The underlying fundamentals of this dynamic, infill submarket have continued to improve since we made our initial investment over six years ago and we remain bullish on medium and long-term growth prospects of the metro as a whole.”

Utilizing  its  proprietary suite of machine learning models, Multilytics®, Origin Investments’ five-year compounded annual growth rate (CAGR) for rents tops 4.0% in the 15 cities where it invests and/or owns and manages multifamily assets. For this micro location within Charlotte, Origin’s Multilytics forecast CAGR is 5.10%, underpinned by strong affordability among the renter demographics along with substantial transit infrastructure and cultural amenities provided to current and future residents.

“Broadstone is a newly built, best-in-class asset that provides a unique blend merging work and play that offers seamless connectivity to Charlotte’s major employers and entertainment districts,” said McDermott. “Situated just on the edge of Uptown among Charlotte’s thriving neighborhoods of NoDa and Plaza Midwood, the property delivers an urban, walkable location with direct connectivity to I-277, the LYNX Light Rail and the stroll-friendly Rail Trail. The property will be a wonderful addition to Origin Investment’s Charlotte portfolio. Congratulations to all parties involved!”

The acquisition brings Origin’s portfolio of projects in development, construction and lease-up across North Carolina to eight properties totaling 2,182 units. Six of those projects, totaling 1,613 units, are in Charlotte.

“Broadstone is a great complement to our Trailside NoDa project,” Welk added. “Together, these Class A assets serve as bookends to Charlotte’s broader Mill District submarket.”

Origin’s extensive holdings in Charlotte include:

• Solstice at Eastland Yards is a 274-unit community currently under construction with joint venture partner Crosland Southeast. Greystar has been selected as the property manager, and first units are expected to be delivered in Q4 2025.
• Sam Furr Road is a 244-unit development under construction with joint venture partners NorthState and Llewellyn Development. Greystar will manage the property. First units are expected to be delivered in Q4 2025. The project is undergoing a branding and naming process with a new project name to be released in summer 2025.
• Reverie Belmont is a recently completed community of 322 units that is in lease-up. Currently 71% leased, Origin anticipates stabilization in summer 2025.
• NoDa Trailside is a two-phase multifamily community. The first, recently completed phase totals 330 units and is currently in lease-up. It is 76% leased. The second phase, consisting of 120 build-for-rent units, is expected to break ground in Q4 2025.

In Raleigh, Mira Raleigh is a 288-unit community developed as a joint venture with Spandrel Development. Completed in Q4 2024, Mira Raleigh is 53% leased. In Asheville, Origin is partnering with Catalyst to develop Biltmore Village, a 281-unit community. The first units are expected to be delivered in Q2 2026.

In addition to those joint venture partnerships, Origin is a preferred equity investment partner in four other projects in North Carolina, two of which are in Charlotte and two are in Asheville, totaling 464 units and 415 units, respectively, comprising of a broader North Carolina investment portfolio of over 3,000 units.

Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 90-person investment sales team covering 15 states with No. 1 multifamily marketshare in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2024, the group closed $5 billion in sales volume through 172 deals and 28,000 units. For more information about the Sunbelt Multifamily Advisory Group, visit https://multifamily.cushwake.com.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.