Issue Date: 10/24/2011,
Posted On: 10/25/2011

BOSTON

Taurus Canada, an affiliate of Boston based Taurus Investment Holdings, LLC, announced the sale of its retail properties at 226/266 King Street, three standalone retail buildings totaling 34,200 square feet located in Oshawa, ON, Canada.

The land parcels, totaling 2.7 acres, were purchased in October 2004, and the assets were built by Taurus later that year. The total development cost including land acquisition was CAD 9.0 million. Taurus purchased the site because of its excellent location with frontage on both of Oshawa’s major arteries, King Street and Bond Street as well as Park Road, connecting to Highway 401. Taurus’ strategy was to execute long-term leases with credit tenants in the prominent location. At the time of purchase Taurus had executed a preconstruction lease for more than 50% of the shopping center’s leasable area with Shoppers Drug Mart, a full-service retail drug store. The business plan was executed successfully and the asset was sold for CAD 13.3 million on October 21st, 2011.

Taurus is very happy with the returns it has been able to achieve since entering the Canadian market nearly 10 years ago. Canada offers a very good compliment to other North American, European and Emerging Markets that the company is active in. The strong Canadian market fundamentals were also behind a successful recent disposition of a Toronto office building. Taurus is looking forward to future transactions in the Canadian market.