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News

First shared multifamily solar energy system in the US to be implemented within the Aegon US Multifamily strategy

In early June, Aegon Asset Management (Aegon AM) and Taurus Investment Holdings LLC (Taurus) announced the successful completion of an equity investment for Canopy Villa Apartments (Canopy), the first asset in their $600 million ESG-centric equity venture within the Aegon US Multifamily Impact strategy.

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Aegon Asset Management closes first deal in ESG-centric venture

Aegon Asset Management 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.

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Aegon Asset Management expands its ESG-centric efforts to decarbonize US multifamily investments

Aegon Asset Management has expanded its ESG-centric efforts by partnering with Taurus Investment Holdings in a four-year, $600 million venture to decarbonize and improve the energy efficiency of US multifamily real estate investments. 

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Key Characteristics

  • Acquires, repositions, redevelops, manages, and disposes of US workforce (Class B and C) multifamily real estate assets that may offer attractive risk-adjusted returns.

  • Leverages Aegon AM’s 30+ years’ experience in the multifamily sector, established infrastructure and network of partners across the US to source, underwrite and reposition properties in select target metros.

  • Return on investment occurs through the execution of a differentiated impact value-add strategy focusing on cost-efficient renovation of units and common areas and extensive energy retrofits.

Overview

  • Top-down macroeconomic, demographic, and local real estate market research is utilized to evaluate and identify target sectors and designate metro areas as target markets.
  • Focus on middle-market workforce (renter-by-necessity) apartments which exhibit strong and durable demand-supply drivers and offer opportunity for value-add strategies that can generate incremental return and offer ongoing cyclical defense.
  • Bottom-up property and neighborhood analysis based on competitive evaluation of the property and its peer group along with neighborhood characteristics.
  • Leverage long-term relationships to deliver strong transaction sourcing, construction expertise and structuring.
  • Execute on cost-efficient renovations and extensive energy retrofits to improve property performance and drive investment returns.

 

For prospective investors in the US and Asia, the strategy is offered by Aegon RA. For prospective investors in Europe, this strategy is offered by Aegon AM NL and sub-advised by Aegon RA. For prospective investors, in the UK, this strategy is offered by Aegon AM UK and sub-advised by Aegon RA.

Insights

21/01/2022 | 8 min read | Martha Peyton, Ph.D. CRE
15/11/2021 | 8 min read | Martha Peyton, Ph.D. CRE
18/03/2021 | 7 min read | Martha Peyton, Ph.D. CRE

Portfolio Managers

Timothy Watson

Timothy Watson

Senior Director, Portfolio Manager

Timothy Watson is a senior director of real estate portfolio management responsible for managing all aspects of the multifamily value add real estate portfolios. 

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Serena Shin

Serena Shin

Associate Director, Assistant Portfolio Manager

Serena Shin is associate director of real estate portfolio management responsible for managing all aspects of the multifamily value add real estate portfolios. 

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