Taurus Investment Holdings Expands in Dallas and Atlanta Markets
Taurus Investment Holdings, LLC, a global private equity real estate firm, announced its successful acquisition of a strategically positioned Last Mile industrial portfolio
IndustrialAug 22, 2023
Taurus Investment Holdings Expands Last Mile Industrial Portfolio in Dallas and Atlanta Markets, Adding more than 900K SF across Dallas and Atlanta Markets
Atlanta, GA and Dallas, TX, August 22, 2023 – Taurus Investment Holdings, LLC (Taurus), a global private equity real estate firm, announced its successful acquisition of a strategically positioned Last Mile industrial portfolio, comprising of 12 Class-B buildings, totaling 924,700 square feet in the Dallas and Atlanta markets. The assets are currently 99.4% leased to 32 tenants. This acquisition continues the growth of Taurus’ US industrial presence, bringing the overall US industrial footprint to more than 18 million square feet across 12 states.
One of the key highlights of this acquisition is the focus on shallow-bay space within land constrained submarkets. With an average building size of just 77,000 square feet and an average tenant size of 30,000 square feet, the subject Portfolio caters to smaller tenants requiring infill last mile locations. Shallow bay buildings, typically ranging from 25,000 to 125,000 square feet, have outperformed the larger market in both Dallas and Atlanta given the lack of competitive supply and continued leasing demand. “While construction as a percentage of overall inventory is 5-7% in Dallas and Atlanta, it totals less than 1% for comparable shallow bay buildings.” said Bill Garey, Director of Acquisitions at Taurus.
“This acquisition demonstrates our team’s ability to identify and execute on a unique opportunity that is well aligned with the current market needs, where we can deliver strong returns for our investors” said Peter A. Merrigan, CEO of Taurus. “As the market continues to evolve, Taurus remains focused on protecting our existing assets, while creatively seeking out new opportunities with our forward leaning approach.”
“The decision to acquire this Last Mile industrial portfolio was driven by the proven success of Dallas and Atlanta as two of the best-performing markets within Taurus’ portfolio,” said Lathan Allen, Managing Director of US Industrial at Taurus. “The company’s 91 assets in these regions have showcased exceptional performance, with a current blended occupancy rate of nearly 99%.”
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