Taurus Investment Holdings, LLC, a private global real estate investment firm, announced today the acquisition of Brook Arbor for $54,500,000, from Executive Affiliates, with Sean Wood and Dean Smith of ARA Newmark representing the seller. The community, built in 1997, is a 302- unit garden-style apartment complex located in one of North Carolina’s most affluent suburbs, Cary, which boasts some of the best demographics in the state. The acquisition of Brook Arbor brings Taurus’ multifamily portfolio to over 2,400 units across 4 U.S. markets.
“The acquisition of Brook Arbor continues to highlight Taurus’ commitment to building our multifamily portfolio by investing in Class-B communities situated in strong demand driver areas.,” says Peter Merrigan, CEO of Taurus. “What we saw at Brook Arbor was a perfect fit to our investment thesis.”
Taurus is currently planning to upgrade all units to modern standards with hardwood floors, granite countertops, and reconfiguration of the clubhouse amenities space. Working with The Dolben Company, Taurus plans to incorporate select sustainability upgrades and a renewable energy plan.
Located at 200 Brook Arbor Drive, the 30.1-acre apartment complex is minutes from downtown Cary and offers convenient access to Highway 540, US 64, downtown Raleigh, and the Research Triangle Park.
About Taurus Investment Holdings, LLC
Established in 1976, Taurus is a Real Estate Private Equity Company and active deal participant in thirty markets around the world. Through fully owned local subsidiaries (regional office model) such as advisory, property management, and value-add development companies, Taurus, together with its international private investors and strategic joint venture partners, leverages its local market proficiency and performance record to capitalize on select investment opportunities. www.tiholdings.com.