November 15, 2024 7:32 am
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Toll Brothers JV to develop East Valley upscale community

(Disclosure: Rose Law Group represents Toll Brothers.)

By Vicentiu Fusea | Multi Housing News

Toll Brothers Apartment Living has joined forces with Canyon Partners Real Estate once again, this time for the development of Navona, a 400-unit luxury community in Mesa, Ariz. Project financing includes a $78 million construction loan from Bank OZK; both equity and debt were arranged in-house. Completion is expected in the fall of 2024.

Navona marks the joint venture’s fourth project, Toll Brothers Senior Vice President Fred Cooper said in prepared remarks. The partnership’s first Phoenix development was a 323-unit community that came online last year.

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