A rendering of Emblem 120 in Woburn, MA.
WOBURN, MA—Home builder Toll Brothers, Inc. of Horsham, PA andan affiliate of Washington, DC-based global investment firm TheCarlyle Group have formed a joint venture to develop a new 289-unitluxury multifamily project here.
The Emblem 120 project will be developed through Toll Brothers' rental apartment subsidiaryToll Brothers Apartment Living. The joint venture secured aconstruction loan facility from Wells Fargo Bank, N.A. The debt andequity financing were arranged by Toll Brothers' in-house financedepartment. Toll Brothers Apartment Living will manage thedevelopment, marketing, leasing and property management of Emblem120. No financial details of the construction loan financing werereleased.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
