NOVEL Nona
Multifamily (Class A, 4-story, delivered 2021-2023, ex-Crescent Communities) property in Orlando, FL — sponsored by Origin Investments
Min $250k; 94% leased; $46.3M offering >30% subscribed (Jun 2026); Lake Nona submarket; hold 2-5 yrs
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These links support the public record as a whole; individual details may come from different sources.
What is this, in one paragraph?
NOVEL Nona is a 260-unit Class A apartment community in Orlando's Lake Nona submarket, held in a Delaware statutory trust (DST) — the structure that lets 1031 exchange investors hold fractional real estate as replacement property. Crescent Communities announced the sale to Origin Investments in December 2025.2 The Trust filed its first Form D in March 2026 and is raising from accredited investors, those meeting SEC income or net-worth tests.
Minimum investment
$250k
Offering size
$46.3M
How much has sold
45.0%
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Crescent Communities began developing NOVEL Nona in mid-2021 and delivered the last units in mid-2023, Origin reported.1 Crescent announced the sale of the wellness-focused community to Origin Investments on December 8, 2025.2 Origin's offering materials describe it as a Class A multifamily community in Orlando's Lake Nona area.1
- Property address
- 11850 Narcoossee Road, Orlando, FL
- Property size
- 260 units
Who is the tenant, and what's the lease?
There is no single corporate tenant here: income comes from hundreds of individual apartment leases that turn over continually, so cash flow tracks Orlando-area rents and renewals rather than one tenant's credit. Origin reported the community 94% leased as of June 9, 2026.1
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
45.0% reported sold
- Amount sold
- $20,698,825
- Reported unsold
- $25,557,881
- Investors reported
- 44
- Total offering
- $46,256,706
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How is it financed, and what does it pay?
This is a leveraged Trust: mortgage debt funded part of the purchase alongside investor equity, and the lender is repaid before investors are. No source reviewed for this record names the lender, the loan's maturity or its prepayment terms — those sit in the PPM, the private placement memorandum that governs the deal.
- Loan-to-value
- 48.6%origininvestments.com
- Target hold
- 2–8 Yearsorigininvestments.com
Who's behind it?
Origin Investments offers this Trust through Origin Exchange, its 1031 exchange platform. The Form D/A filed September 1, 2026 names OIG Exchange, LLC as sponsor, OIG Nona Manager, LLC as manager and signatory trustee, and OIG Depositor Nona, LLC as depositor.3 On June 9, 2026, Origin said its Charlotte and Nashville DST offerings were fully subscribed and that this Orlando Trust had become the platform's active raise.1
- Sponsor
- Origin Investments
- May convert to a REIT
- No
- Offerings from this sponsor
- 3 active / 4 total offerings from Origin Investments
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The initial Form D has been amended repeatedly, each amendment stepping up the reported amount sold and the investor count while the recorded offering size held steady. Rule 506(c) means the Trust may be advertised publicly, but every buyer's accredited status has to be verified before the sale closes.
- First Form D filedThe public offering record begins.
- Offering amount recordedA Form D amendment recorded offering and sales totals.
- Filing record updatedA later amendment updated the sponsor’s filing record.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Legal Trust name
- Origin Nona, DST
- Filings on record
- 10
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is NOVEL Nona still raising money?
The sponsor’s SEC filings show the offering raising money within the past 15 months. A filing does not by itself confirm you can still buy in.
Where does Top1031 get the data for NOVEL Nona?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What does buying into a DST actually get me?
A Delaware statutory trust holds title to the real estate; you buy a beneficial interest, which the IRS treats as direct property ownership for 1031 exchange purposes. You have no management role — the manager and signatory trustee, here OIG Nona Manager, LLC, make the decisions, and you cannot force a sale or a refinancing. The Form D reports a $250,000 minimum investment, and Origin's own offering page states the same minimum.
Who pays the rent on this property?
Hundreds of individual apartment residents, not one corporate tenant. Origin reported on June 9, 2026 that NOVEL Nona was 94% leased. Apartment leases are short and turn over continually, so cash flow depends on renewals, turnover costs and Orlando-area rents rather than on a single tenant's credit. No named commercial tenant was established in the sources reviewed for this record.
Who owned the building before, and what did the Trust pay?
Crescent Communities developed NOVEL Nona — beginning in mid-2021, with the last units delivered in mid-2023 per Origin — and announced the community's sale to Origin Investments on December 8, 2025. The purchase price was not established in the sources reviewed here, and no deed or closing record was located. The Private Placement Memorandum is where the Trust's own purchase price, how it was set, and the fees and reserves layered on top of it are stated.
How is the deal financed, and who is the lender?
This is a leveraged Trust rather than an all-cash one: mortgage debt sits ahead of investor equity, and Origin's offering page reports the loan-to-value ratio shown in the financing section of this record. The lender's identity is not established in the public sources reviewed, and loan maturity, amortization, prepayment terms and any interest-only period are likewise absent from the public record — those have to be read in the Private Placement Memorandum.
Why do I see two different street addresses for this property?
Origin's June 9, 2026 press release gives the location as 11850 Narcoossee Road in Orange County, Florida, which is the address carried in the SEC-derived record here. Greystar's NOVEL Nona leasing page lists a leasing office at 11929 Pioneers Way, Orlando, FL 32832. Both are reported by their sources for the same community; nothing in the reviewed material reconciles them into one street address, and the Greystar page does not by itself establish who operates the property.
Is the offering still open, and is a 721/UPREIT exit contemplated?
The Trust filed its initial Form D on March 5, 2026 and has amended it repeatedly, most recently on September 1, 2026, and it remains open to new accredited investors. Availability can change at any time; the sponsor or your broker-dealer holds current subscription status. Nothing in the filing record indicates a 721 or UPREIT exit — contributing the property to a REIT's operating partnership for units instead of selling for cash. An open-market apartment sale is the ordinary path, and the Private Placement Memorandum sets out the exit mechanics the sponsor may use.
Chapter 9Origin Investments' Charlotte and Nashville DST Offerings Are Fully Subscribed; Origin Now Focuses on $46.3 Million DST Offering in OrlandoOrigin Investments reports its focus has shifted to the $46.3M Orlando Nona DST (260-unit NOVEL Nona) following the full subscription of the Charlotte and Nashville DSTs; the Orlando offering is more than 30% subscribed. Origin Fully Subscribes Pair of DST Offerings, Shifts Focus to $46.3M Orlando AssetAltsWire notes Origin's $46.3M Orlando Nona DST at 11850 Narcoossee Road is more than 30% subscribed and is the active capital raise now that Charlotte and Nashville DSTs have closed. Origin Investments Adds $46.3M Lake Nona Asset to DST LineupConnect Money reports Origin Investments has acquired the 260-unit Novel Nona community (94% leased from Crescent Communities) and launched a $46.3M Delaware Statutory Trust offering for it, with a $250,000 minimum and 2-5 year hold period. New 1031 Exchange Opportunity: Orlando Nona DSTOrigin Investments announces its new 1031-exchange DST offering backed by the 260-unit, 94%-leased NOVEL Nona multifamily community in Orlando's Lake Nona submarket (Origin Nona, DST). Origin Exchange Launches $46.26M Multifamily DST Offering in OrlandoAltsWire reports Origin Exchange's fourth DST and third multifamily offering — Origin Nona, a $46.26 million Trust backed by the 260-unit, 94%-leased NOVEL Nona community in Lake Nona, with a $250k minimum and 2-5 year hold.