1.Fund Name*

Taurus Investment Holdings, LLC 

2 Investment Dates: 8/2020

3 Asset Class Portfolio Breakdown: Medical Office

4 Projected Holding Period:  3 years

5 Communication Methods: The platform utilized a comprehensive approach, including: Quarterly Reports

 6. Effectiveness of Communication – ★★★★★ (5 Stars)
Communication was timely, clear, and informative throughout the investment. I consistently felt "in the know" with just the right amount of detail provided.

7. Tax Reporting – ★★★★★ (5 Stars)
K-1s were delivered on time each year with no surprises or complications. Tax reporting was handled smoothly and professionally.

8. Investment Plan Execution – ★★★☆☆ (3 Stars)
The investment delivered less than the expected ROI and had a longer holding period than anticipated. While not a failure, there are stronger-performing options available in the market.

9. Holding Period Execution – ★★★☆☆ (3 Stars)
The holding period was extended significantly, though the sponsor provided valid reasons for the delay. The extension was handled transparently but still impacted the overall experience.

10. Return on Investment – ★★☆☆☆ (2 Stars)
Returns missed initial projections by a wide margin. The outcome was disappointing relative to expectations and market alternatives.

 

Taurus Investment Holdings, LLC

Headquarters: Boston, MA
U.S. Offices: Miami, Orlando, Jacksonville, Dallas, Atlanta, Austin
Founded: 1997
Website: tiholdings.com
Assets Under Management: $11+ billion
Portfolio Size: Over 70 million square feet

Investment Focus

  • Strategy: Value-add, core-plus, and ground-up development

  • Asset Types: Multifamily, industrial, retail, office, mixed-use, medical

  • Geographic Focus: U.S.-centric with selective global projects

  • Sustainability: ESG-led development with EcoSmart Solutions affiliate driving decarbonization and energy efficiency

Recent Activity

  • Civica Center (Miami, FL): Redevelopment of 47,000 SF retail center into 62,500 SF retail/medical office and 460,000 SF tower

  • NOVO Avian Pointe (Apopka, FL): 276-unit green multifamily project with geothermal and EV charging

  • North Lake Business Park (Orlando, FL): Acquired 15-building, 271,000 SF office/flex portfolio

  • Minnesota Industrial Portfolio: 630,000 SF of last-mile logistics facilities

  • Legal & General Partnership: $200 million capital commitment for long-term development strategy

Leadership

  • Peter Merrigan, CEO: Over $11 billion in lifetime transactions and 74 million SF of real estate

  • William Garey, CIO: Leads investment strategy and capital markets

  • Erik Rijnbout, COO: Oversees portfolio management and European capital relationships

  • Victoria Lackey, CFO: 30+ years in real estate finance and operations

Summary

Targeted Investor IRR- 19.3% Targeted Equity Multiple- 1.7x

Targeted Average Cash Yield -0.8% Targeted Investment Period -3 Years

Property Type -Medical Office/Retail Investment Profile -Opportunistic

 Investment Experience: Civica Center, Miami

I invested in the Civica Center (Miami, FL) deal, which was managed by Tarus. The sponsor's reputation for experience and the promise of robust returns were significant factors in my decision, especially given their considerable assets under management (AUM), which made it feel like a secure investment.

However, the deal, originally planned for a shorter duration, turned into a five-year hold due to the pre-COVID market shifts. Ultimately, this resulted in a net loss of 2% of the capital I invested, compounded by the opportunity cost of my capital being tied up for longer than anticipated.

While the direct capital loss was largely offset by capital gains write-offs, I'd consider this investment a break-even scenario if you disregard the opportunity cost.

My primary disappointment lies with the sponsor, as I feel they exited the deal in a way that disadvantaged investors. Despite this, I must acknowledge their effort in returning the majority of the capital, which I appreciate.

On the positive side, the sponsor provided consistently well-written quarterly and annual updates that also included valuable investment education. Although I might consider investing with them again, I've since identified other opportunities that appear to offer much better prospects.