Taurus Acquires $54M Multifamily in Metro Boston for Carbon Neutral Transformation

Taurus Investment Holdings, LLC, has acquired Chestnut Place, a 1971-vintage, 207-unit, Class-B apartment community in Ashland, MA for a purchase price of $53.6 million.

Through Taurus’s energy-focused subsidiary, RENU Communities, and a tailored program, Taurus aims to transition Chestnut Place to a low-carbon, energy efficient complex. “From an impact perspective, the RENU program could reduce nearly 300 tons of carbon emissions annually from Chestnut Place,” said Chris Gray, Ph.D., CTO of RENU Communities.

“The HVAC will be upgraded with advanced cold-climate air source heat pumps, and the water heating system will be upgraded with an advanced CO2-based heat pump system to dramatically reduce energy demand and improve energy resilience,” added Gray. “Additionally, the property’s energy demand will be further reduced through LED lighting, added insulation and weatherization measures. Both energy and carbon reduction along with improved resiliency will be further achieved with rooftop and canopy solar PV systems.”