Newbury Street

Newbury Street

  • Located in a world-renowned signature location, Newbury Street lacked a cohesive brand or marketing, resulting in a poor tenant mix.
  • Taurus identified an opportunity to consolidate ownership of a portion of the eight block street with 197 separate buildings controlled by 167 separate owners.
  • With unparalleled understanding and experience in a complex market, Taurus created the Newbury Line brand for our assets and made plans to bring the buildings to retail industry standard.
  • Over a four year period, Taurus acquired 28 different buildings on Newbury Street and began the rebranding and repositioning program.
  • Taurus also successfully navigated and procured more approvals from the Back Bay Architectural Commission than any other Newbury Street landlord in a 2 year period.
  • Taurus attracted international labels to the street such as Marc Jacobs, Nanette Lepore, True Religion, Pinkyotto and more.
  • Taurus chose to exit during a massive spike in gold prices, reflecting capital flight into hard assets in 2011.
  • The portfolio was acquired for a total of $143 million and sold in 2011 for $226.5 million to Jamestown Properties, winning the Retail Deal of the Year for 2011 recognition in various trade publications.
Project Details
  • Location:US
  • Type:Mixed Use
  • Date:2006
  • Status:Sold
  • Size:28 assets
  • Acquisition price:$145 million
  • Sale price:$226.5 million
  • Project IRR:22% (combined)