NOVO Avian Pointe Update 06/20/24

Taurus and TPG Real Estate Celebrate the Completion of a 276-unit Residential Development

 

 

A best-in-class multifamily community, NOVO Avian Pointe combines a unique blend of environmentally conscious design and thoughtfully curated amenities.

 

Taurus Investment Holdings, LLC (“Taurus”), a global private equity real estate firm, and TPG Real Estate Partners (“TREP”), the dedicated real estate equity investment platform of global alternative asset management firm TPG, are pleased to announce the completion of NOVO Avian Pointe. A celebratory ribbon-cutting event on June 20th, will mark the official completion of the project and showcase its innovative features to the community.

 

Located in Apopka, Florida, NOVO Avian Pointe offers residents a unique blend of sustainable, modern design and thoughtfully curated amenities. The 276-unit, six building multifamily community was built to encourage interaction and connection with nature, surrounded by pocket parks, dedicated green spaces, and an organic relaxation garden, with access to a bicycle-share program, indoor and outdoor entertainment, and recreational spaces. NOVO Avian Pointe adheres to the Florida Friendly Landscaping Program and preserves 10% of the site in a conservation easement, contributing to the overall environmental health of the area. Residents will directly benefit from energy savings, with an anticipated 34% lower energy consumption compared to an average new construction property.

 

“As the real estate market continues to evolve, we believe future-proofing our investments is paramount. NOVO Avian Pointe demonstrates our commitment to aligning with investor values and market trends,” said Peter A. Merrigan, CEO of Taurus. “By prioritizing decarbonization, we're not only minimizing the project's environmental impact but also reducing its exposure to potential risks associated with climate change and rising energy costs. This translates to a more stable investment for our partners, and an asset that contributes to the overall well-being of the community and reduces energy costs for our residents.”

 

“NOVO Avian Pointe is built for the modern resident, providing a range of best-in-class, sustainable apartments and amenities designed for energy-efficient, convenient living,” said Tripp Johnson, Partner at TPG Real Estate. “As Apopka and the broader Orlando area continue to experience strong population growth, we’re excited to reach this milestone and announce the launch of the community.”

 

NOVO Avian Pointe boasts a robust energy-resilient technology package that was implemented by EcoSmart Solution, a green energy service provider and affiliate of Taurus. The package includes geothermal infrastructure that utilizes water deep underground from the Floridian Aquifer to deliver ultra-low carbon heating and cooling throughout the community. Additionally, the development is outfitted with a 254 kW DC solar photovoltaic system, 36 electric vehicle charging stations, and an energy management system allowing residents to track their energy consumption, performance, and costs.

 

The completion of NOVO Avian Pointe represents an example of innovation, resiliency and sustainability for Taurus and TPG. By prioritizing environmental responsibility and resident well-being, NOVO Avian Pointe serves as a model for the future of real estate development. The development broke ground in mid-2022 and commenced vertical construction in March 2023.

 

About Taurus Investment Holdings, LLC
Taurus Investment Holdings, LLC is a global real estate private equity firm headquartered in Boston, MA. Experienced as a general partner, investor, and operator, the firm focuses on value-add, core-plus, and development strategies across the fields of multifamily, office, logistics, mixed-use, and renewable energy.

 

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 70 million square feet of residential, office, industrial, retail and other commercial real estate assets throughout the world with a total acquisition value of over $11 billion.

 

About TPG
TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $224 billion of assets under management and investment and operational teams around the world. TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique approach is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit www.tpg.com

Photo: NOVO Avian Pointe

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