NOVEL Nona
Multifamily property in Orlando, FL · sponsored by Origin Investments
NOVEL Nona is a DST sponsored by Origin Investments that owns a multifamily property in Orlando, FL (260 units). Its latest Form D, filed Oct 13, 2026, lists a $46.2 million offering with a $250,000 minimum.
Key facts
- Minimum investment
- $250,000From the Form D
- Offering size
- $46,256,706Equity offered, per the Form D
- Sold so far
- Form D, Oct 13, 2026; the % is our arithmetic55.1%
- Investors reported
- Form D, Oct 13, 202654
- Selling commissions
- Form D Item 15; the % is our arithmetic$0 · 0.0% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.How it is financed ↓
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
Sales so far
- Latest Form D
- Oct 13, 2026 · 11 filings
- First sale
- Feb 20, 2026
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
- Amount sold
- $25,514,464
- Not yet sold
- $20,742,242
- Investors
- 54
Calculated by Top1031 from the Form D filings, not stated by the sponsor:
55.1% of $46,256,706 sold, calculated by Top1031 from the Form D
- Average since first sale
- about $3.3 million a month
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Ask a 1031 specialist about this recordFree. About: NOVEL Nona. Top1031 is not a broker-dealer.NOVEL Nona · Orlando, FL · Photo: novelnona.com
What does NOVEL Nona own?
Crescent Communities began developing the community in mid-2021 and delivered the last apartments in mid-2023, according to Origin Investments. 1 Crescent announced the sale of the wellness-focused community to Origin on December 8, 2025. 2 GrowthSpotter reported an $84 million price the same day. 3 It is a four-story Class A community in Orlando's Lake Nona submarket.
- Property address
- 11850 Narcoossee Road, Orlando, FL
- Property size
- 260 units
How have sales gone?
The sponsor’s own numbers, with the caveat in Sales so far ↑.
How is it financed, and what did it cost to sell?
This is a leveraged Trust: mortgage debt funded part of the purchase alongside investor equity, and the lender is repaid before investors are. Origin's offering page lists about $43.7 million of DST offering debt against roughly $90 million of total capitalization. 4
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $0 · 0.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $1,966,647 · 4.2% of offeringForm D Item 16· The filing’s note: “Item 16 is an estimate of organizational and offering expenses and financing closing costs that may accrue to one or more Related Persons.”
- Broker-dealers named in the Form D
- None named in the Form D
- Date of first sale
- Feb 20, 2026
- Minimum investment
- $250,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind NOVEL Nona?
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 the issuer's sponsor. 5 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 focus. 1
- Sponsor
- Sponsor entity in the Form D
- OIG Exchange, LLC
- Manager and signatory trustee
- OIG Nona Manager, LLC
- Depositor
- OIG Depositor Nona, LLC
- Offerings on record
What does the SEC record show?
The Trust reported February 20, 2026 as the date of its first securities sale, before its initial Form D reached EDGAR. 5 Later amendments restated the offering's reported figures while the recorded offering size held steady at $46,256,706. It may be advertised publicly, but each buyer's accredited status must be verified.
- Legal Trust name
- Origin Nona, DST
- SEC CIK
- 2105810
- First Form D
- Mar 5, 2026
- Latest Form D
- Oct 13, 2026
- Filings on record
- 11
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $46,256,706 | $25,514,464+$4,815,639 | 54+10 | EDGAR | |
| Form D/A | $46,256,706 | $20,698,825+$10,837,037 | 44+14 | EDGAR | |
| Form D/A | $46,256,706 | $9,861,788+$729,354 | 30+2 | EDGAR | |
| Form D/A | $46,256,706 | $9,132,434+$3,172,590 | 28+11 | EDGAR | |
| Form D/A | $46,256,706 | $5,959,844+$250,000 | 17+1 | EDGAR | |
| Form D/A | $46,256,706 | $5,709,844+$2,596,072 | 16+5 | EDGAR | |
| Form D/A | $46,256,706 | $3,113,772+$745,278 | 11+4 | EDGAR | |
| Form D/A | $46,256,706 | $2,368,494+$335,000 | 7+1 | EDGAR | |
| Form D/A | $46,256,706 | $2,033,494+$586,444 | 6+2 | EDGAR | |
| Form D/A | $46,256,706 | $1,447,050+$897,050 | 4+2 | EDGAR | |
| Form D | $46,256,706 | $550,000 | 2 | EDGAR |
Show all 11 SEC Form D filings
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
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.
Common questions
- Is NOVEL Nona an active offering?
- NOVEL Nona is an Active offering: its latest Form D was filed Oct 13, 2026. A Form D filing does not by itself confirm that interests are still available; the sponsor or a registered representative can confirm what is open.
- What does an interest in this DST represent?
- It is a beneficial interest in a Delaware statutory trust that holds title to the apartment community, and the IRS treats that interest as direct property ownership for 1031 exchange purposes. Investors have no management role: the trust's manager makes decisions, and beneficial owners cannot force a sale or a refinancing. The Form D filings report a $250,000 minimum investment, with the issuer able to accept less.
- Who pays the rent on this property?
- Hundreds of individual apartment residents, not one corporate tenant. Origin Investments described the community as 94% leased in its June 9, 2026 announcement. Origin's offering page, which carries no date, describes the property as approximately 95% occupied, a different measure from an unstated date. Apartment leases are short and turn over continually, so income depends on renewals, turnover costs and Orlando-area rents rather than one tenant's credit.
- Who owned the building before, and what did it sell for?
- Crescent Communities developed NOVEL Nona, starting in mid-2021 and delivering the last apartments in mid-2023 according to Origin Investments. Crescent announced the sale to Origin Investments on December 8, 2025 without stating a price. GrowthSpotter reported an $84 million sale price the same day, based on its own reporting rather than a recorded deed. What investors pay, including purchase price plus fees and reserves, is set out in the offering documents.
- How is the deal financed?
- It is a leveraged Trust rather than an all-cash one, so mortgage debt sits ahead of investor equity. Origin's offering page lists approximately $43.7 million of DST offering debt against roughly $90 million of total capitalization, and a 48.6% loan-to-value ratio. The loan's lender, maturity, amortization and prepayment terms are described in the offering documents.
- How might this Trust end?
- The usual ending for a multifamily DST is a sale of the property, with net proceeds distributed to beneficial owners who may then do another 1031 exchange. Origin's offering page lists a target hold of two to eight years, which is a target rather than a commitment.
- Why do two different street addresses appear for this property?
- Origin's June 9, 2026 announcement and the SEC filing record place the community at 11850 Narcoossee Road in Orange County, Florida, while a rental listing for the same 260-unit community uses 11929 Pioneers Way, Orlando. Both addresses are used by their sources for one community, not for two separate assets.
In the news
Sources
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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 offering documents before investing.