STARTING FROM THE ORIGIN
|Origin Capital Partners has closed on $150M in new investments on 25 buildings in the last 30 months. The most recent was a 100k SF grocery-anchored shopping center in Melrose Park. It's a little easier for them since they started in '07 and have no problem legacy investments to deal with. Last week, Origin's Bryan Sullivan,Michael Episcope, and David Scherer told us the company uses its own equity and focuses on investments of $3M to $50M for recapitalizations and fee simple transactions for Class-A and B buildings.|
Last year, they acquired two medical office buildings on the Aurora campus of Rush-Copley Medical Center, an example of one of the great value-add opportunities they're seeing in major metro areas including Chicago, Atlanta, Dallas, and Phoenix. Michael says Origin doesn't compete on some of the crazy prices being paid for core properties, like the recent sale of the Barney's New York building on the Gold Coast (it sold for one of the highest price PSF in Chicago history, after almost being taken back by the lender). They focus mainly on the acquisitions and asset management and bring in partners to manage the buildings.