Taurus Investment Holdings (Taurus), a global private equity real estate firm, and Aegon Asset Management (Aegon AM) 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 venture will manage the investments, while the Taurus’ subsidiary RENU Communities will evaluate and apply its retrofit program aiming to transition the assets to low-carbon, energy-efficient buildings. The projected initial investment of the equity venture will start with the recapitalization of Canopy Villa Apartments, a 1981 vintage, 296-unit apartment complex located in Orlando, Fla.
“Taurus and Aegon AM have made a commitment to building a business that delivers returns to our investors, while also positively impacting both society and the environment, so it only makes sense to partner for this substantial decarbonization venture,” said Peter Merrigan, CEO
