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PHOENIX — Taurus Investment Holdings has purchased an apartment property located in Phoenix’s northwest region for $42 million. The buyer will rebrand the Class B property, which was previously known as Rise Metro, as Raystone.
Built in 1981, Raystone features 160 units. Through its energy-focused subsidiary, RENU Communities, Taurus plans to transition Raystone to a low-carbon, energy-efficient multifamily complex by replacing all HVAC units with highly efficient air-source heat pumps, replacing existing electric water heaters with heat pump water heaters, implementing an energy monitoring system in each unit, upgrading lighting and installing solar panels.