JV Secures $50 Million Construction Loan from TD Bank, N.A.
Toll Brothers, Inc. (NYSE: TOL) (TollBrothers.com), the nation’s leading builder of luxury homes, through its Toll Brothers Campus Living student housing rental division, and Boston-based real estate investment, development and management firm The Davis Companies (Davis), announced a new joint venture to develop Aperture, a 680-bed (204-unit), two-building, five-story multifamily rental community in Orlando, Florida adjacent to the University of Central Florida (UCF). The project is being financed through a $50 million construction loan facility from TD Bank, N.A. The equity and debt were arranged by Toll Brothers’ in-house Finance Department.
Aperture is located at 12727 East Colonial Drive in Orlando on 8.2 acres in proximity to UCF… Read More