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

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.

Seventeen hours later, Origin received $105 million in non-binding expressions of interest from 425 investors. The firm plans to solidify commitments in the coming weeks ...