Taurus Aims to Transition Westover Parc to Energy-Efficient Complex

Taurus Investment Holdings LLC recently acquired Westover Parc, a 2002-vintage 160-unit class-A apartment community for a purchase price of $41.6 million. Through Taurus’s energy-focused subsidiary, RENU Communities and its tailored program, Taurus will aim to transition to a low-carbon energy-efficient multifamily complex.

“Since we made our debut in Phoenix just over a year ago, we’ve been strategically looking for the right property to implement our decarbonization strategy,” said Peter A. Merrigan, CEO of Taurus Investment Holdings. “Phoenix continues to be a top-tier market for multifamily investment and this latest acquisition is a testament to our commitment to the Phoenix market, marking this as our fifth acquisition in the area and our first RENU retrofit outside of Massachusetts.”

Located in the southwest valley of the Phoenix metropolitan area, Westover Parc is adjacent to Interstate 10, providing residents convenient access to more than 315,000 jobs within a 10-mile radius.

“We target markets that have a strong higher-education ecosystem. Arizona State University has been an incredible catalyst for growth in the Phoenix market,” said Max Dorsch, director of acquisitions for Taurus. “We continue to be amazed at how major employers are relocating or expanding in the market to take advantage of the talent pool and intellectual expertise at ASU.”

The acquisition boosts Taurus’ multifamily portfolio to more than 6,150 units acquired and developed nationwide.