Origin Refinances N.C. Property, Generating $13.9M in Cash-Out Proceeds
Origin Investments, a 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. According to the company, the early refinancing follows steady initial leasing at the garden-style apartment community.
Reverie Belmont is a property in the Origin IncomePlus Fund, LLC portfolio, which launched in 2019. Previously reported by AltsWire, the fund converted to a private real estate investment trust at the beginning of the year. The company said the change allows them to simplify the tax reporting process for its 1,500-plus fund investors.
Origin said the refinancing at Reverie Belmont underscores its 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.”
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 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.
As of June 30, 2025, the net distribution yield for the IncomePlus Fund – calculated as the June 2025 distribution divided by latest fund net asset value, divided by 30 days in the month divided by 365 days – now stands at 6.5%.
Founded in 2007, Origin Investments is a private real estate manager that helps high-net-worth investors, family offices, and registered investment advisers grow and preserve wealth by providing tax-efficient real estate solutions through private funds.
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