by Lisa McDuffie| via connectcre.com
Boston, MA-based Taurus Investment Holdings has acquired Wells Park, a three-building Class A-/ B+ office portfolio located in Newton, MA, for $92 million. The 377,696-square-foot multi-tenant space is 93% leased.
The CBRE team of Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Roy Sandeman, Tim Mulhall and Dan Hines arranged the sale on behalf of the seller, a joint venture partnership of Angelo, Gordon & Co., and Jumbo Capital Management.
Through Taurus Investment Holdings’ energy-focused retrofit subsidiary RENU Communities and its tailored program, the company will aim to transition Wells Park to a low-carbon, energy efficient office park.
“The pandemic has acted as an accelerant to several pre-existing trends that will greatly impact future real estate demand such as a renewed focus on air quality and climate change, which is why we continue to invest and focus on using innovative energy efficient technologies to decarbonize commercial buildings,” said Peter Merrigan, CEO of Taurus Investment Holdings.
“A carbon-reduced building creates inherent value in the industry as more companies use the ESG criteria to choose their office spaces,” added Chris Gray, chief technology officer of RENU Communities.