Taurus Investment Holdings, LLC, a global private equity real estate firm operating for over 45 years with experience in multifamily, office, logistics, mixed-use and renewable energy sectors, announced the acquisition of the Sunbelt Infill Portfolio, consisting of 13 well-located Class A and Class B industrial assets totaling 1,423,145 square feet across Orlando, Tampa, Atlanta, and Houston. As one of its core asset classes, Taurus has acquired over 27 million square feet of logistics/distribution space in the U.S. market over the past five years.
The industrial market is continuing to perform at high levels, fueled in part by continued ecommerce demand and an evolving supply chain, putting the industrial market into overdrive from a demand perspective.
“Investor demand continues to be tremendous for the industrial sector. This portfolio provided Taurus with a unique opportunity to acquire both Class A and Class B properties, all of which are located within core markets where Taurus has been active for many years,” said Peter A. Merrigan, CEO of Taurus Investment Holdings. “One of the things we really like is the industrial sector’s ability to be a hedge against inflation and this latest acquisition highlights our continued commitment to adding strategically located industrial assets to our substantial portfolio.”
With 51 tenants spread across 12 buildings, the portfolio is situated across four of the highest growth industrial markets in the United States, with a weighted average vacancy rate of just 3.85%, creating a favorable supply demand dynamic for continued rent growth. The combination of recent upgrades and state-of-the-art new construction aided in the portfolio securing leases with quality tenants such as Walmart, Raytheon, Iron Mountain, DAP America, and SC Johnson.
“The industrial market is a booming sector in which Taurus continues to have immense success,” said Lathan Allen, Managing Director at Taurus. “This acquisition underscores our commitment to the industrial sector and reflects our team’s ability to transact in a competitive environment while continuing to generate above market returns. As a leading operator of industrial properties, we are excited to re-enter the Florida market and to expand our presence in Atlanta and Houston.”
The acquisition of the Sunbelt Infill Portfolio boosts Taurus’ active industrial portfolio to over 16 million square feet that is 96% leased to more than 700 tenants.
This latest acquisition comes on the heels of Taurus’ recent entry into the Cincinnati and Indianapolis markets.