BOSTON, Oct. 28, 2022 (GLOBE NEWSWIRE) — Taurus Investment Holdings, LLC (Taurus), a global private equity real estate firm, and Aegon Asset Management (Aegon AM), the asset management arm of Aegon NV, are pleased to announce will be announced at Today, they completed the recapitalization of two of his multifamily properties, Lofton Place Apartments and Rosemont at Windermere, through their recently established ESG-focused decarbonization venture. Lofton, with a total of 640 units, is located in Tampa’s Carolwood submarket, while Rosemont is located in Orlando’s Universal submarket.
Both Taurus and Aegon AM believe there is an urgent need for property owners and operators to take greater responsibility for climate change and recognize the long-term value created from lower carbon assets. I understand. RENU Communities, an affiliate of Taurus, evaluates and applies coordinated retrofit programs aimed at significantly reducing the environmental impact of properties and transitioning properties to low-carbon, energy-efficient buildings. increase. Plans for both assets include replacing all HVAC units with air-sourced heat pumps, replacing electric water heaters with heat pump water heaters, upgrading water supplies, and implementing energy monitoring systems in each unit. building, upgrading lighting, and installing solar panels.
Taurus and Aegon AM’s first ESG-focused deal, Canopy Villa Apartments, is currently underway with a custom RENU retrofit. His HVAC replacement and solar installation in all units is expected to be completed by the end of 2023. The full RENU scope is targeted for completion within Q1 2023.
Taurus CEO Peter A. Merrigan said: “U.S. residential and commercial properties account for more than 30% of annual greenhouse gas emissions. We recognize the opportunity to increase value for our clients while creating a strong asset.”
Aegon Asset Management, the global investment management brand of Aegon NV, a leading Dutch-based financial services organization, manages $328 billion in assets as of June 30, 2022 and manages/advises. Real assets received are approximately $25 billion.
“With recent closings, we are delighted to continue our decarbonization venture with Taurus. Real estate is a great fit for our strategy and is located in markets we have identified as target markets based on demographic and economic growth indicators,” said U.S. Head of Real Assets Equities at Aegon AM. Alexia Gottschalch, Global Head of Customer Strategy Alternatives, said. “With these closures, Aegon AM will continue to focus on creating high quality, energy efficient and affordable apartment rental properties.”
Both Orlando and Tampa are characterized by booming job markets and are ranked among the top multifamily housing markets in the United States, with strong infrastructure projects already underway between the two cities providing attractive and growing opportunities. The possibilities are endless. The combination of increased resident income, overall rental rates within each submarket, and proven decarbonization programs positions each asset for future value creation. Assets not only benefit from a cleaner, healthier environment, but also provide isolation from long-term value and cost fluctuations.
About Taurus Investment Holdings
Founded in 1976, Taurus is a global real estate private equity firm with over 45 years of experience as a general partner, investor and operator. By strengthening and combining in-house expertise in the areas of multifamily, office, logistics, mixed use and renewable energy, the company will be able to target and expand into value added, core plus and development opportunities. made a great investment.
Taurus is focused on making the large-scale infrastructure investments needed to decarbonize residential and commercial buildings using innovative, energy-efficient technologies. Eco smart solution When RENU community related company.
Across North America and Europe, Taurus is consistently recognized as one of the premier owners of both directly owned and joint venture commercial real estate. To date, Taurus has purchased and developed more than 69 million square feet of residential, office, industrial, retail and other commercial real estate assets worldwide, totaling his $10 billion. It is over. www.tiholdings.com.
About Aegon Asset Management
Aegon Asset Management’s 390 investment professionals invest $328 billion (30 June 2022) for a global client base including pension schemes, public funds, insurance companies, banks, wealth managers, family offices and foundations. as of today) manages and advises on assets. We organize our investment capabilities around four focused investment platforms with broad asset class expertise: Fixed Income, Real Assets, Equities, Multi-Assets and Solutions. Each platform has a dedicated team, organized globally and dedicated to maximizing their expertise. These platforms are backed by teams dedicated to responsible investment and multi-management. www.aegonam.com
The following AEGON affiliates are collectively referred to herein as AEGON Asset Management. Aegon USA Investment Management LLC (Aegon AM US), Aegon USA Realty Advisors LLC (Aegon RA), Aegon Asset Management UK plc (Aegon AM UK), and Aegon Investment Management BV (Aegon AM NL). Each of these AEGON Asset Management entities is a wholly owned subsidiary of AEGON NV. The managed/advised assets listed herein incorporate entities within the Aegon Asset Management brand and affiliated companies listed below. Aegon Asset Management Holding BV, Aegon Asset Management Spain and participation in joint ventures with Aegon Industrial Fund Management Co. LTD, La Banque Postale Asset Management SA and Pelargos Capital BV.
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