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Boston's Taurus Investment Forks Over $201 Million for First Foray into Windy City

Industrial Portfolio Includes 740,000-SF Yorkbrook Business Park at I-355/I-80 Exchange
June 11, 2018
Pictured: 800 N. Commerce St. in Aurora, IL.

Boston-based Taurus Investment Holdings took its first dip into the Chicago industrial market with its recent acquisition of a $201 million, 51-building industrial portfolio from Venture One Real Estate, the Rosemont, IL,-based private-equity fund manager.

The biggest chunk of the purchase is the 740,000-square-foot Yorkbrook Business Park at 120-230 Eisenhower Lane North in Lombard. The industrial and office property, which has undergone major upgrading under Venture One’s tutelage, has easy access to the Interstate 355 and Interstate 88 exchange near Butterfield Road.

The deal also included a 130,000-square-foot property at 4201 W. Victoria near Pulaski Road and Bryn Mawr Avenue in Sauganash, and a 117,000-square-foot building at 800 N. Commerce in Aurora. Cumulatively, the properties are 92 percent leased, Taurus said.

The total 2.9 million-square-foot purchase fully deploys Taurus US Logistics Fund I LP, a pooled investment fund the company set up in April 2017 to scoop up highly performing logistics sites. The fund included $157 million discretionary capital from a number of Middle Eastern family offices coupled with a $100 million sidecar from Taurus and a number of existing high-net-worth investors, the company said. In total, Taurus had about $750 million in capital, which it thought then would take 18 months to completely invest.

“Logistics properties have been one of the most highly performing asset types over the past 20 years for Taurus,” Chief Executive Peter Merrigan said in a statement. “The supply and demand fundamentals in this segment of the market continue to be the strongest of any in the commercial real estate industry.”

For the record:

Michael Caprile, Zach Graham and Ryan Bain of CBRE represented Venture One Real Estate in the disposition.

For more information on the transaction, please see CoStar Comp #4288425.

Jennifer Waters, Chicago Reporter  CoStar Group   

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