Toll Brothers Apartment Living and Canyon Partners Real Estate Announce New Joint Venture to Develop 400-Unit Luxury Rental Community in Mesa, Arizona
Retrieved on:
Wednesday, November 1, 2023
FORT WASHINGTON, Pa., Nov. 01, 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 real estate investment firm Canyon Partners Real Estate, have announced the formation of a new joint venture to develop Navona, a garden-style, 400-unit luxury multifamily rental community in the Phoenix suburb of Mesa, Arizona.
Key Points:
- FORT WASHINGTON, Pa., Nov. 01, 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 real estate investment firm Canyon Partners Real Estate, have announced the formation of a new joint venture to develop Navona, a garden-style, 400-unit luxury multifamily rental community in the Phoenix suburb of Mesa, Arizona.
- The equity and debt were arranged by Toll Brothers’ in-house Finance Department.
- Toll Brothers Apartment Living will manage the development of Navona.
- This is our fourth joint venture with Canyon in projects with total capitalization of nearly $500 million across a variety of markets.