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 partnership 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 be surrounded by dedicated conservation areas and include six residential buildings outfitted with an array of amenities, including a fitness center, outdoor pool, individual workspaces, fire pits and grilling patios. The partnership will work with EcoSmart Solution, a green energy services provider affiliated with Taurus, to incorporate innovative energy infrastructure into the development. Specifically, EcoSmart Solution will design and deliver geothermal heating and cooling technology, solar energy infrastructure and a comprehensive suite of low-carbon and energy efficiency resources to enhance the project.
“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 Solution to build apartments that meet our collective investment objectives while leading the way in developing a more sustainable future.”
“EcoSmart Solution 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, 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.”
Peter A. Merrigan, CEO of Taurus
Utilizing EcoSmart Solution’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 Solution offers an impactful solution for sustainable developments, which has become an urgent priority across the real estate sector,” said John Towle, CEO of EcoSmart Solution. “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.”
About TPG Real Estate Partners
TPG Real Estate Partners ("TREP") is the dedicated real estate equity investment platform of global alternative asset firm TPG. Today, TREP has $10.5 billion of assets under management. Since its inception in 2009, TREP has built a differentiated investment portfolio comprised primarily of real estate-rich platforms and portfolios located in the United States and Europe. TPG was founded in 1992 and now has approximately $120 billion of assets under management with investment and operational teams in 12 offices around the world.
About Taurus Investment Holdings, LLC
Established in 1976, Taurus is a global real estate private equity firm with over 45 years of experience as a general partner, investor, and operator. By empowering and combining the strength of in-house experts in the fields of multifamily, office, logistics, mixed-use, and renewable energy, the firm has created targeted, scalable investments into value-add, core-plus, and development opportunities.
Taurus is focused on using innovative energy efficient technologies to make the extensive infrastructure investments required to decarbonize residential and commercial buildings through its EcoSmart Solution and RENU Communities affiliates.
Throughout North America and Europe, Taurus is consistently recognized as one of the premier owners of both directly managed and joint venture commercial real estate. To date, Taurus has purchased and developed more than 69 million square feet of residential, office, industrial, retail and other commercial real estate assets throughout the world with a total acquisition value of over $10 billion.
About EcoSmart Solution
EcoSmart Solution, an affiliate of global real estate investment firm Taurus Investment Holdings (TIH) and a green energy services provider (Green ESP), is designing and delivering innovative geothermal infrastructure combined with a comprehensive suite of distributed energy resources; enabling developers and builders of large-scale new construction neighborhoods to create energy efficient communities and homes, providing new homeowners and tenants an affordable, comfortable, and sustainable living.