Origin Investments Executes Early Refinancing at Reverie Belmont in Charlotte

$13.9 Million in Cash-Out Proceeds Generated By Investment and Development Strategy

CHICAGO (September 15, 2025)—An affiliate of Origin Investments, a leading multifamily real estate fund manager, has completed the $64 million refinancing of Reverie Belmont, a newly developed Class A multifamily complex in Belmont, N.C., near Charlotte. The refinancing, secured ahead of schedule, follows a steady and successful initial leasing at the 322-unit garden-style apartment community.

The refinancing at Reverie Belmont underscores Origin’s investment and development strategy to generate liquidity through cash-out proceeds by locking in long-term fixed-rate debt. Due to strong lease-up performance at the property, Origin closed an agency loan with Fannie Mae prior to stabilization. The result generated $13.9 million dollars in cash-out proceeds. Further, the monetization of a derivative vehicle produced additional revenue totaling approximately $1.075 million.

“In executing this strategy at Reverie Belmont, and at numerous other assets in the Origin portfolio, the firm reduces market risk by converting floating-rate exposure into predictable, fixed obligations,” said Sarah Prescott, assistant vice president of investment management at Origin Investments. “With these steps taken, our team is able to focus on enhancing property performance.”

Reverie Belmont is a property in the Origin Income Plus Fund portfolio. Lee McNeer with PGIM Real Estate’s Charlotte office represented Origin Investments in the financing transaction with Fannie Mae.

From an asset management and investor perspective, these refinances provide stable financing, improve property-level cash flow, and unlock capital that can be used for future reinvestment and growth goals. They also give our funds greater liquidity and flexibility, supporting future growth while protecting against interest rate volatility. These actions are part of our broader plan to strengthen portfolio performance and maximize investor returns!

The 38-acre Reverie Belmont property is located at 520 McLean Ave., along a Charlotte Greenway exit that provides access to walking, hiking and biking trails. It comprises 322 one-, two- and three-bedroom apartments in a mix of three- and four-story buildings and 32 townhomes with attached garages. The community is 89% leased.

Amenities include a 7,500-square-foot clubhouse, resort-style swimming pool, yoga studio and dog parks, as well as top-of-the-line interior and exterior finishes.

Reverie Belmont is located 10 miles west of Charlotte’s central business district with convenient access to numerous employment drivers and exceptional retail, dining and entertainment nodes.

The development is located within Charlotte’s highly regarded school system, 15 minutes from Charlotte Douglas International Airport, and 25 minutes from Uptown Charlotte. Amazon’s new $200 million facility and Walter Ridge Office Park, with headquarters of Belk, AT&T, Publix’s Charlotte Division and UTC Aerospace, are located nearby.