Origin Capital Partners has launched Origin Capital Fund II, targeting $100 million. The fund, which has collected $30 million, will invest in medical office, multi-family, office, industrial and retail properties in certain U.S. offices. Origin is a real estate private equity firm based in Chicago.
Origin Capital Partners, a real estate private equity firm based in Chicago, has launched Origin Capital Fund II, LLC (Fund II), a $100 million investment fund. Employing a diversified acquisition strategy, the Fund will invest in value added medical office, multi-family, office, industrial and retail properties in targeted US markets.
The launch of Fund II follows the closing of The Origin Capital Opportunity Fund (Fund I), which raised and has allocated almost $26 million in equity. The Fund I portfolio—11 properties in five states—totals approximately $163 million in assets.
To date, Fund II has received subscriptions in excess of $30 million. When fully committed, Fund II will consist of at least 10 assets, with no single asset accounting for more than 10 percent of the fund’s equity. Fund II has been seeded with four investment properties.
· Lux24 – a 12-story, 67-unit multi-family development in Chicago with 4,400 square feet of ground floor retail space.
· Naper Place – a mixed-use development in Naperville, IL (Chicago suburbs) that features 49 apartment units leased exclusively to North Central College and 6,900 square feet of retail space.
· Kingwood – a three-story, Class A, 90,000-square-foot medical office building outside of Houston.
· Arium North Point – a 236-unit multi-family development in an affluent Atlanta suburb.
In addition to the property type diversification of the portfolio, Origin also will take a diversified geographic approach. Origin has identified 12 major markets throughout the U.S. based on demographic trends, economic fundamentals and investment liquidity. Origin’s target markets are as follows: Atlanta, Austin, Charlotte, Chicago, Dallas, Denver, Houston, Minneapolis, Orlando, Phoenix, Seattle and Tampa.
Origin’s investment and management strategy is to generate outsized returns by first sourcing opportunities at below market pricing levels through its diverse network. Then, Origin focuses on creating value through targeted revenue enhancement initiatives including redevelopment, repositioning and re-tenanting programs and the implementation of operational efficiencies. These strategies are designed to maximize net operating income.
Another element of Origin’s operating philosophy that helps to distinguish the firm in the marketplace is its investor focus. Origin’s platform and fund structure have been designed to create a strong alignment of interests. To demonstrate its commitment to and alignment with its investors, the principals invest a significant amount of capital, a minimum of 10% of capital raised, alongside their investment partners.
About Origin Capital Partners
Origin Capital Partners, based in Chicago, is a commercial real estate investment firm that acquires assets on behalf of its principals and investment partners. Origin targets opportunities in 12 major metropolitan areas in the Multi-family, Medical, Industrial, Office, and Retail sectors. Origin has acquired approximately $250 million in real estate over the past five years. The investment team has a combined, diversified experience of more than 90 years. Cumulatively, they have bought and sold over $6.5 billion of commercial real estate investments.