The prices on multifamily apartment buildings have risen meteorically over the past 3 -5 years. In some cases, however, between the cost-per-unit to acquire the properties plus the amount per-unit to renovate them, the all-in price has exceeded the cost to build new complexes from the ground up. That’s why Michael Episcope, co-CEO of Origin Investments, has been only doing ground up deals for the past three years. Origin has a number of funds that are invested across eight fast-growing markets throughout the U.S. and they’ve been ranked in the top 10% decile of performance, outperforming 90% of other funds of the same vintage, strategy and size.