TAURUS SELLS US LOGISTICS PORTFOLIO FOR $614 MILLION, EXITS US LOGISTICS FUND I
NewsNov 25, 2019
PHOTO: MENDENHALL | MEMPHIS, TN
BOSTON, MA – Taurus Investment Holdings, LLC (“Taurus”) announced today the sale of an 8.2 million square foot logistics portfolio located in the Chicago, Dallas, Atlanta and Memphis markets to Investcorp, a leading global provider and manager of alternative investment products. The portfolio consists of 117 buildings with more than 400 regional, national and international tenants. The firm exited its US Logistics Fund I and three co-investment vehicles totaling $204 million in equity capital. Taurus will remain the co-invested manager of the portfolio in joint venture with Investcorp.
“Logistics is one our highest conviction investment themes at present in the US and Europe, and the value created for our investors by this transaction further demonstrates our expertise in assembling a robust last mile logistics portfolio,” said Peter Merrigan, CEO of Taurus. “I am proud of our acquisitions and local asset management teams for their work in assembling and stabilizing this portfolio.”
The portfolio known as the Taurus Bullseye Portfolio comprises buildings providing ease of access to major transportation arteries; both ground and air, allowing users to effectively service these large densely populated regions. The portfolio features buildings ranging from 4,000 to 520,000 rentable square feet of industrial, logistics and flex warehouse space with an average clear height of over 20 feet.
Lathan Allen, Managing Director of US Industrial at Taurus stated, “As consumers demand shorter delivery times, retailers are forced to expand their last mile distribution footprint to compete. By targeting specific infill locations, we were able to benefit from this ecommerce demand and outperform our growth projections. We continue to see demand outpace supply in many of these submarkets and remain focused on further growing our logistics portfolio.”
Taurus RE Capital Ltd is an appointed representative of Sapia Partners LLP which is authorised and regulated by the Financial Conduct Authority.
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
