NOVEL Nona
Multifamily (Class A, 4-story, delivered 2021-2023, ex-Crescent Communities) property in Orlando, FL — sponsored by Origin Investments
Files with the SEC as Origin Nona, DST
Minimum investment
$250k
Offering size
$46.3M
How much has sold
21.0%
Asset type
Multifamily (Class A, 4-story, delivered 2021-2023, ex-Crescent Communities) property
Location
Orlando, FL
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
NOVEL Nona is a 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. Origin Investments bought it from developer Crescent Communities in December 2025.1 The Trust filed its first Form D in March 2026 and is still raising from accredited investors, those meeting SEC income or net-worth tests.
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.
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 developed NOVEL Nona and announced its sale to Origin Investments on December 8, 2025.1 GrowthSpotter reported the transaction at $84 million.2 Origin describes the Class A community as built in 2023 and sited directly on Lake Whippoorwill in the Lake Nona submarket.3
- 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 credit tenant's covenant. Origin's June 9, 2026 release described the community as 94% leased.4
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.
21.0% reported sold
- Amount sold
- $9,861,788
- Still available
- $36,394,918
- Investors reported
- 30
- 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 paid before investors are. GrowthSpotter reported a $43.68 million loan from Northwestern Mutual Life Insurance Co. in connection with the December 2025 purchase.2
- 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.3 The Form D record names OIG Exchange, LLC as sponsor, OIG Nona Manager, LLC as manager and signatory trustee, and OIG Depositor Nona, LLC as depositor, with Michael Episcope and David Sherer as co-CEOs of the manager.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 active raise.4
- Sponsor
- Origin Investments
- Legal Trust name
- Origin Nona, DST
- 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. The offering may be advertised publicly, but every buyer's accredited status has to be verified.
- 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.
- Filings on record
- 9
- 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?
Top1031 lists NOVEL Nona as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
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 DST is a Delaware statutory trust that 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.
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, and its offering page for the deal describes the property as approximately 95% occupied on an undated snapshot; the two figures come from separate sponsor statements and no source reconciles them. Apartment leases are short and turn over continually, so cash flow depends on renewals, turnover costs and Orlando-area rents.
Who owned the building before, and what did it sell for?
Crescent Communities developed NOVEL Nona and announced its sale to Origin Investments on December 8, 2025. GrowthSpotter reported the sale price at $84 million. That is press coverage rather than a deed or title record, so it does not by itself establish the Trust's own purchase price; the Private Placement Memorandum — the offering document that governs the deal — states the price the Trust paid and how it was set.
Who is the lender on the mortgage?
GrowthSpotter reported a $43.68 million loan from Northwestern Mutual Life Insurance Co. tied to the December 2025 purchase of NOVEL Nona. Origin's own offering page presents roughly $90 million of total capitalization split between DST offering equity and DST offering debt. Loan maturity, amortization, prepayment and any interest-only period are not in any public record we located and have to be read in the Private Placement Memorandum.
Is the offering still open?
Yes. The Trust filed its initial Form D on March 5, 2026 and has amended it repeatedly, most recently on August 11, 2026, and remains open to new accredited investors. Availability can change at any time; the sponsor or your broker-dealer holds current subscription status.
Why does the first sale predate the first Form D?
The August 11, 2026 Form D/A reports a first sale date of February 20, 2026, while the initial Form D was filed March 5, 2026. Form D is a notice filing due within 15 days of the first sale, so a first sale that precedes the filing date is normal sequencing rather than a discrepancy.
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.