And with staff members located in Chicago, Denver and Charlotte, the company can keep tabs on potential investments throughout the US, says Episcope. “Our team members know every deal out there that fits within our universe.”

When fully invested, the third fund should have more than 15 multi-family and office properties in these high-growth markets, he adds. Since July 2016, the fund has invested about $38 million in eight properties valued in excess of $257 million. These include:

• Trinity Place, a four-story, 114,547 square-foot, class A office building in Raleigh's Research Triangle Park market.
• Stella Apartments, a 334-unit apartment complex located near the Texas Medical Center in Houston. Origin launched a comprehensive, complex-wide exterior and interior modernization program to enhance its competitive position.
• Lee Park Towers, a 121,000 -square-foot, two-building class B office complex in Dallas' Uptown/Turtle Creek submarket. Origin and a joint venture partner have launched a comprehensive modernization program.
• Cherry Creek Plaza, a 314,000-square-foot, two-building office complex in suburban Denver that was acquired in a joint venture. The venture has already completed a comprehensive renovation program.
• The Clayson, a 448-unit apartment complex in Palatine, IL, northwest suburb of Chicago. Origin plans to renovate and reposition the asset.

CHICAGO—Chicago-based real estate private equity firm Origin Investments has completed the final closing for its $150 million Fund III, and company officials say it paves the way to acquire about $600 million in value added properties.

The $151.4 million raised came from more than 450 different investors and is Origin's largest fund to date. Origin's first two funds are currently on track to generate more than a 24% annualized net return. The company had gone after a range of property types including medical office, multifamily, office, industrial and retail, but the third fund will focus on underperforming multifamily and office projects.

“We've narrowed our focus considerably,” Michael Episcope, one of the cofounders and principals of Origin, tells GlobeSt.com. That makes the firm's strategy easier to explain to potential investors. In fact, in addition to the hundreds of new investors, more than 92% of those investing in Funds I and II also invested in Fund III.

The multifamily and office sectors “are in many ways complementary,” he adds. Cities and regions with hot office markets, for example, also generate a lot of demand for new apartments. Origin will concentrate on the metro areas of Charlotte, Raleigh, Atlanta, Houston, Dallas, Austin, Chicago and Denver, all leading markets in terms of population and job growth.

And with staff members located in Chicago, Denver and Charlotte, the company can keep tabs on potential investments throughout the US, says Episcope. “Our team members know every deal out there that fits within our universe.”

When fully invested, the third fund should have more than 15 multi-family and office properties in these high-growth markets, he adds. Since July 2016, the fund has invested about $38 million in eight properties valued in excess of $257 million. These include:

• Trinity Place, a four-story, 114,547 square-foot, class A office building in Raleigh's Research Triangle Park market.
• Stella Apartments, a 334-unit apartment complex located near the Texas Medical Center in Houston. Origin launched a comprehensive, complex-wide exterior and interior modernization program to enhance its competitive position.
• Lee Park Towers, a 121,000 -square-foot, two-building class B office complex in Dallas' Uptown/Turtle Creek submarket. Origin and a joint venture partner have launched a comprehensive modernization program.
• Cherry Creek Plaza, a 314,000-square-foot, two-building office complex in suburban Denver that was acquired in a joint venture. The venture has already completed a comprehensive renovation program.
• The Clayson, a 448-unit apartment complex in Palatine, IL, northwest suburb of Chicago. Origin plans to renovate and reposition the asset.