TPG Real Estate and Taurus Announce ESG-Centric JV to develop Avian Pointe

MultifamilyJun 22, 2022

TPG Real Estate and Taurus Announce ESG-Centric Joint Venture for the Development of Avian Pointe

BOSTON, SAN FRANCISCO AND FT WORTH, TX – June 22, 2022 – TPG Real Estate Partners (“TREP”), the dedicated real estate equity investment platform of global alternative asset management firm TPG, and Taurus Investment Holdings, LLC (Taurus), a global private equity real estate firm, today announced a joint venture for the development of a sustainable, 276-unit, garden style apartment complex within the Avian Pointe master planned community.

Located in the rapidly expanding Orlando metropolitan area, the project broke ground in May 2022. Upon completion, the community will include six residential buildings with surrounding dedicated conservation areas and outfitted with an array of amenities including individual workspaces, outdoor areas with a pool, fire puts, and grilling areas. The partnership will work with EcoSmart Solution (EcoSmart) to design and incorporate an innovative energy infrastructure plan into the development. EcoSmart, a Taurus affiliate, is a green energy services provider, designing and delivering innovative geothermal and solar energy infrastructure along with a comprehensive suite of distributed energy resources.

“TREP is excited to be investing in a sustainable multifamily development that we believe should generate superior resident and investor demand while aligning with our focus on ESG,” said Tripp Johnson, Partner at TPG Real Estate. “We look forward to expanding this partnership with Taurus and EcoSmart to build apartments that meet our collective investment objectives while leading the way in developing a more sustainable future.”

“EcoSmart has already shown it’s a viable green energy service provider through its existing developments, but validation from an established firm like TPG further shows that there’s a need for its innovative geothermal infrastructure and impressive suite of advanced sustainable technology,” said Peter A. Merrigan, CEO of Taurus. “Taurus has a longstanding commitment to creating environmentally conscious properties and TPG is a firm that shares our core values, we are excited to partner with them and take the first step in what will be a best-in-class, sustainable and healthy Central Florida community.”

Utilizing EcoSmart’s GeoGrid™, a community-wide utility, similar to water, sewer and electric lines, the geothermal exchange system will power the initial multifamily development. The system is uniquely designed to take advantage of local ground conditions and will tap into the Floridan Aquifer to exchange heat with the subsurface body of water that continuously moves underground across the state of Florida. The program at Avian Pointe will also include energy efficient technology such as geothermal heat pumps, Solar PV systems, EV charging and advanced energy monitoring tools, resulting in an energy resilient and sustainable community.

“As investors, developers and homebuilders prioritize ESG-centric business initiatives, EcoSmart offers an impactful solution for sustainable developments, which has become an urgent priority across the real estate sector,” said John Towle, CEO of EcoSmart. “We’re tremendously appreciative of the opportunity to work with TPG to showcase our energy efficient technology that allows developers to meet increasingly aggressive energy efficiency standards.”