Real estate private equity firm Taurus Investment Holdings has sold its 8.2 million-square-foot U.S. logistics portfolio to Investcorp., a provider of alternative investments, for $614 million.
The properties are located in Atlanta, Chicago, Dallas, and Memphis, consisting of 117 buildings with more than 400 regional, national and international tenants. The firm exited its U.S. 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.
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.