Taurus, Aegon AM Enter $600M ESG-Centric, Decarbonization Venture
Boston, MA-based Taurus Investment Holdings and Aegon Asset Management have entered into four-year, $600 million, ESG-centric venture to acquire value-add multifamily assets and considerably reduce the energy consumption and carbon output of those assets.
The parties to the venture will manage the investments, while the Taurus’ subsidiary RENU Communities will evaluate and apply its tailored retrofit program to transition the assets to low-carbon, energy efficient buildings. According to the companies, RENU will work to link traditional real estate investment with the market’s growing desire for electrification and decarbonization.
“The strong return potential and durable cash flows of the multifamily value-add strategy paired with this accretive, one-of-a-kind decarbonization initiative aims to set the standard for a new way to approach these investments,” said Alexia Gottschalch of Aegon Asset Management.
The venture’s initial project will be Canopy Villa Apartments, a 1981 vintage, 296-unit multifamily in Orlando, FL.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!