January 30, 2023
Toll Brothers Apartment Living and Pondmoon Capital Holdings USA Announce Joint Venture to Develop 285-Unit Luxury Rental Community in Frisco, Texas
Toll Brothers, Inc.
FORT WASHINGTON, Pa., Jan. 30, 2023 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE: TOL) (TollBrothers.com), the nation’s leading builder of luxury homes, through its Toll Brothers Apartment Living rental division, and Pondmoon Capital USA have announced a new joint venture to develop Mirra, a five-story, 285-unit multifamily rental community in Frisco, Texas. The project, on which construction will commence in February 2023, is being financed through a $49.5 million construction loan facility from Santander Bank N.A. The equity and debt were arranged by Toll Brothers’ in-house Finance Department. ...read more