Taurus acquires Bear Hill Portfolio

News

New England Real Estate Journal - Waltham, MA Taurus Investment Holdings, LLC, has acquired an office and R&D/Lab portfolio known as the Bear Hill Portfolio, a premier suburban Boston submarket. The portfolio comprises eight assets, which are located along Rte.128 in the heart of suburban Boston's nationally-recognized Rte.128 central corridor. Totaling 220,000 s/f (125,000 s/f of office and 95,000 s/f of R&D/lab), the portfolio offers space to accommodate the growing demand for high-quality office, lab, and R&D space from the region's expanding financial, technology, and life sciences sectors. The 70.0% occupied portfolio was purchased for $35.5 million ($160 per foot).

 

The addresses are as follows:

* 300 Second Ave.;

* 335 Bear Hill Rd.;

* 303 Bear Hill Rd.;

* 150 Bear Hill Rd.;

* 300 Bear Hill Rd,.;

* 255 Bear Hill Rd.;

* 69 Hickory Dr.; and

* 60 Hickory Dr.;

 

"Taurus was excited to have acquired a set of well-located Waltham assets. Waltham has historically been considered Boston's preeminent suburban office market, but has recently seen an influx of life science companies as well. As Waltham becomes a more dynamic market, the Bear Hill Portfolio will be well positioned to accommodate the needs of a variety of prospective tenants," said Taurus CEO Peter Merrigan.

 

Brookline Bank and A-10 Capital provided the financing for the portfolio. Eastdil Secured brokered the transaction.

 

Taurus was founded in 1976 and has evolved into a global owner-operator and value-add developer of both directly managed and joint venture assets with offices throughout the US, Canada, Argentina, Turkey, UK and Germany. Taurus has purchased and sold more than 20 million s/f of residential, office, industrial, retail, hotel and other commercial real estate assets since its inception. Presently the firm has a portfolio that is valued at more than $2 billion.