Kelly and Marshall of CBRE/New England secure $31.5 million financing for Taurus Investment Holdings

John Kelly, CBRE New England

Matt Marshall - CBRE

Fall River, MA CBRE/New England’s Capital Markets team has secured a Fannie Mae loan of $31.5 million for the financing of the acquisition of South Winds Apartments, a 404-unit garden-style community. CBRE/NE Multifamily Debt & Structured Finance experts John Kelly and Matt Marshall obtained the financing for the buyer, Boston-based Taurus Investment Holdings.

“It was great working with a repeat client and their team on the acquisition financing,“ said Kelly. “CBRE/NE’s agency lending platform provides our clients a streamlined approach to financing Fannie Mae and Freddie Mac transactions. We were able to secure the financing on a tight timeline and provide funds for planned capital improvements at the property.”

South Winds Apartments - Fall River, MA

“With this being our first acquisition using Fannie Mae financing, we were very pleased with the speed and overall execution by CBRE on the financing of this transaction,” said  Peter Merrigan of Taurus. “We look forward to successfully adding value to this asset through our planned capital improvement strategy and efficient management.” 

South Winds Apartments was constructed in 1971 with an average unit size of 1,008 s/f. South Winds consists of 26 buildings containing 146 one-bedroom/one-bathroom, 218 two-bedroom/one-bathroom and 40 three-bedroom/two-bathroom units. The buyer purchased the asset for $39.35 million ($97,400/unit).

Taurus Investment Holdings, LLC (“Taurus”) is a global investor, developer, and operator with a pervasive regional market network that leverages its diversified capital and operational infrastructure to capitalize on exclusive commercial and residential real estate opportunities. Taurus was founded in Munich, Germany and is currently headquartered in Boston, Massachusetts. It is a trusted partner for European, U.S. and other select international high net worth individuals and institutional investors. With current local presence in 15 markets on four continents, Taurus offers its clients access to a diversified pool of investment opportunities.

CB Richard Ellis – N.E. Partners, LP, a joint venture with CBRE Group, Inc. has offices in Massachusetts, Connecticut, Rhode Island, Maine and New Hampshire. CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The company has 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.