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In 17-Hour Rush for a Tax Break, Origin Lines Up $105 Million

  • Investment firm will use fund to develop residential sites
  • Plans projects in struggling areas of Charlotte and Denver
PulteGroup Inc. Development Construction As Homebuilders Find Reason To Rally
Photographer: David Paul Morris/Bloomberg

It took less than a day for a real estate company to line up more than $100 million in small increments, crowdfunding-style, to buy property that will take advantage of a new tax break.

Origin Investments principals Michael Episcope and David Scherer emailed investors on Nov. 14, saying their Chicago-based firm was under contract to buy some development sites in Qualified Opportunity Zones, areas where investors in the fund could defer certain taxes through 2026.