Origin Investments Deploys First Capital from $100M Select Asset Fund into 353-Unit Medina Station Multifamily Development in Mesa, AZ

PHOENIX (March 3, 2026) — Origin Investments has announced the first deployment of capital from its $100 million Select Asset Fund, committing to a 353-unit ground-up multifamily development known as Medina Station in Mesa, Arizona. The firm is partnering with The NRP Group on the project, with Bank of America providing debt capital. Completion is expected in 2028.

The development, located at 1325 Signal Butte Road, sits on a 10-acre parcel within the northeast quadrant of the 60-acre Medina Station mixed-use master-planned community in suburban Phoenix's Southeast Valley. A groundbreaking is expected shortly.

First Investment for Origin's Select Asset Fund

Medina Station represents the Select Asset Fund's inaugural investment. Additional details about the fund's launch date, term structure, return targets, minimum investment threshold, and co-investment access tier were not disclosed in the source materials reviewed.

"Medina Station is well positioned to be a premier development in Mesa," said Jacob Sojka, Vice President of Acquisitions at Origin Investments. "The project benefits from a strong location within a mixed-use community that includes planned retail, creating instant appeal. NRP's reputation as a tier-one developer adds meaningful experience, credibility, and scale."

Project Details

The Medina Station development will include a mix of studio, one-, two-, and three-bedroom residences totaling more than 340,000 square feet of rentable space. The community's design features a main four-story building complemented by six two-story carriage-style buildings positioned around the perimeter of the property. Those perimeter buildings will offer direct-access units as well as rentable garage space for residents.

The project is situated near major employment corridors in Mesa's Southeast Valley, a submarket that Origin Investments described as one of the fastest-growing corridors in the Phoenix metropolitan area. The broader Medina Station master plan includes planned retail components within the mixed-use community.

This marks the third ground-up multifamily development in which Origin Investments and The NRP Group have partnered. The NRP Group is a vertically integrated developer, builder, and property manager of multifamily housing.

No financial terms for the Medina Station transaction — including equity split, loan amount, or total project cost — were publicly disclosed.