Origin Investments, Kaplan Residential Join Forces for $76M Multifamily in Charlotte

Atlanta-based Origin Investments and Kaplan Residential have formed a partnership to develop a 322-unit rental apartment and townhome community in Belmont, NC. The $76-million project in the Charlotte Metro is the first between the two firms; Kaplan Residential will operate as the fee developer.  

“We are excited for this investment, as it represents a tremendous opportunity to leverage Belmont’s continued growth as an increasingly desirable submarket with limited supply,” said David Welk, managing director of acquisitions at Origin Investments. “The submarket’s 99-percent occupancy rate, a limited pipeline and a protracted approval process pave the way for continued strength in the market and strong performance for our investors.”

The property will feature a mix of one-, two- and three-bedroom apartments in three- and four-story buildings on the 39-acre site. Additionally, the development will incorporate 32 townhome units with private parking garages. The development is located within Charlotte’s highly regarded school system.