Toll Brothers Inc. (NYSE: TOL), through its Toll Brothers Apartment Living rental division, has teamed with Gables Residential in a joint venture to develop Gables Angeline, a four-story, 243-unit luxury multifamily rental community in the Denver suburb of Littleton, Colorado.
Gables Angeline will encompass 331,498 square feet and offer apartment with a mix of studio through three-bedroom floor plans. The community’s amenity package will include a resort-style pool, a fitness center with rock climbing wall, a community garden, a pet park with dog run, an outdoor pavilion, and a putting green. The community will also offer 1,200 square feet of retail space.
The project is being financed through a $57 million construction loan facility from JPMorgan Chase, while the equity and debt were arranged by Toll Brothers’ in-house Finance Department.
“We are thrilled to expand our national footprint with Gables Angeline, our first luxury multifamily community in Colorado,” said John McCullough, president of Toll Brothers Apartment Living. “With its prime location, upscale design, and strong connectivity to major employment hubs and outdoor recreation, Gables Angeline will offer residents an unmatched living experience in the suburbs of Denver.”
