April 17, 2020
Taurus Investment Holdings acquired 300 Baker Ave., a 410,296-square-foot office property in Concord, MA. The investment firm paid $74.5 million to acquire the 93.2% occupied property from Novaya Real Estate Ventures.
“We are pleased to have closed on this transaction during this time of unprecedented challenge,” said Peter A. Merrigan, CEO of Taurus. “We continue to actively pursue defensible and opportunistic acquisitions like 300 Baker, despite the turbulent economic environment.”
Located directly off Route 2, the asset will serve as a flagship project for RENU Communities, a subsidiary of Taurus. “300 Baker was acquired with the objective of retrofitting the property through service and energy solutions provided by RENU to maximize efficiencies in alignment with the emerging industry of environmentally conscious real estate,” Merrigan said.
NKF brokered the deal. Debt financing was provided by MetLife.
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