Taurus-Anglo Irish Close Euro Fund at $433M

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LONDON-Subsidiaries of Taurus Investment and Anglo Irish Bank have closed their euro 341-million ($433-million) Taurus Euro Retail Fund. The fund is capitalized with traditional senior financing provided by Anglo Irish Bank and more than euro 100 million ($127 million) of institutional and private equity from sources in the United States, Ireland, United Kingdom, the Netherlands and Israel.

The fund has closed on its first 47 transactions topping euro 260 million ($330 million). Taurus and Anglo Irish expect that the fund will be fully placed by the Fall of 2006. The portfolio consists primarily of newly constructed, fully-leased, food-oriented retail assets located throughout Germany. The average anchor-lease term across the portfolio exceeds 12 years. Significant representative credits include Rewe, Edeka, Metro and Tengelmann. Taurus and Anglo Irish together have acquired more than euro 500 million ($635 million) of European retail products over the past 15 months.

Taurus was founded in 1976 in Munich and launched US business operations three years later. It now is owner/operator of more than 10 million sf of real estate worldwide. Since its inception, Taurus has purchased and sold more than 20 million sf of office, industrial, retail, residential and hotel assets.