CHICAGO, May 26, 2022
/PRNewswire/ -- Aegon Asset Management (Aegon AM) is pleased
to announce the successful completion of an equity investment for
Canopy Villa Apartments, the first asset within its $600 million ESG-centric equity venture with
Taurus Investment Holdings LLC (Taurus) to acquire value-add
multifamily assets and considerably reduce the energy consumption
and carbon output of those buildings.
Canopy Villa Apartments is a 1981 vintage, 296-unit apartment
complex located in Orlando,
Florida. Under the partnership, Aegon AM and Taurus
Investment Holdings will leverage their multifamily value-add
investment expertise to manage the investment, while Taurus'
subsidiary RENU Communities will apply its tailored retrofit
program aiming to transition Canopy to a low-carbon, energy
efficient building.
"Canopy Villa Apartments is a great fit for the value-add and
energy retrofit strategy and we are very excited to kick off the
venture with this closing," said Alexia Gottschalch, Global Head of
Client Strategy Aegon Real Asset and US Head of Equity Real Assets.
"Aegon AM is committed to this one-of-a-kind decarbonization
effort, which aligns with our net zero emissions target."
Commercial and residential properties in the US contribute
slightly over 30% of greenhouse gas emissions annually. The goals
of the real estate investments and energy improvements made by
Taurus' RENU subsidiary include significant reductions in both
energy use and operational carbon emissions, primarily through
energy efficiency upgrades, onsite renewables production and
electrification of all services. The program offers multiple
potential benefits for both tenants and the property owner
including a lower energy profile and onsite energy production via
solar panels, as well as energy storage where possible. In
addition, zero combustion of hydrocarbons onsite translates to
better air quality for occupants and the surrounding community.
"The simple reality is that existing buildings are often more
inefficient as they age. Given Canopy's 1981 vintage, there is a
significant opportunity for RENU to enhance the property through
our tailored retrofit program," said Chris
Gray, PhD., Chief Technology Officer of RENU Communities.
"At Canopy we will aim to reduce its carbon footprint by more than
50%, greatly improving property operations and the quality of life
for residents."
About Aegon Asset Management
Aegon Asset Management is comprised of active global investors.
Our 385 investment professionals manage and advise on assets of
$432 billion as of March 31, 2022 for a global client-base of
pension plans, public funds, insurance companies, banks, wealth
managers, family offices and foundations.
We organize our investment capabilities around four focused
investment platforms where we have extensive asset-class expertise:
fixed income, real assets, equities and multi-asset &
solutions. Each platform has dedicated teams, organized globally
and committed to maximizing their specialist areas. These platforms
are supported by teams dedicated to responsible investing and
multi-management.
By organizing our investment teams globally, we work to harness
our expertise and research resources across regional boundaries. We
believe this enhances our performance potential and helps provide
better investment outcomes for clients.
Across platforms, we share a common belief in fundamental,
research-driven active management, underpinned by effective risk
management and a commitment to responsible investment. Our
investment platforms have the flexibility to organize their
resources and processes to best suit their area of focus.
We are a global business: Our 1,200 employees work across
Europe, the Americas and
Asia. We invest globally and serve
clients locally.
For more information about Aegon Asset Management, visit
aegonam.com.
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 67 million square feet of
residential, office, industrial, retail and other commercial real
estate assets throughout the world with a total acquisition value
of over $9.8 billion.
www.tiholdings.com.
This material is provided by Aegon Asset Management (Aegon AM)
as general information and is intended exclusively for
institutional and wholesale investors, as well as professional
clients (as defined by local laws and regulation) and other Aegon
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all Aegon AM investment strategies. Any reference to securities,
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making of any investment decisions. It has not been prepared in
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All investments contain risk and may lose value. Responsible
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by any company of Aegon Asset Management will reflect the beliefs
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The following Aegon affiliates are collectively referred to
herein as Aegon Asset Management: Aegon USA Investment Management, LLC (Aegon AM US),
Aegon USA Realty Advisors, LLC
(Aegon RA), Aegon Asset Management UK plc (Aegon AM UK), and Aegon
Investment Management B.V. (Aegon AM NL). Each of these Aegon Asset
Management entities is a wholly owned subsidiary of Aegon
N.V.
The assets under management/advisement described herein
incorporates the entities within Aegon Asset Management brand as
well as the following affiliates: Aegon Asset Management Holding
B.V., Aegon Asset Management Spain, and joint-venture
participations in Aegon Industrial Fund Management Co. LTD, La
Banque Postale Asset Management SA, and Pelargos Capital BV.
Aegon AM UK is authorised and regulated by the Financial Conduct
Authority (FRN: 144267) and is additionally a registered investment
adviser with the United States
(US) Securities and Exchange Commission (SEC). Aegon AM US and
Aegon RA are both US SEC registered investment advisers. Aegon AM
US is also registered as a Commodity Trading Advisor (CTA) with the
Commodity Figures Trading Commission (CFTC) and is a member of the
National Futures Association (NFA). Aegon AM NL is registered with
the Netherlands Authority for the Financial Markets as a licensed
fund management company and on the basis of its fund management
license is also authorized to provide individual portfolio
management and advisory services in certain jurisdictions. Aegon AM
NL has also entered into a participating affiliate arrangement with
Aegon AM US.
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SOURCE Aegon Asset Management