Toll Brothers and Harris Realty Company have created a joint venture to develop Piper, a six-story, 393-unit multifamily rental community in Norwalk, CT. The project is being financed through a $136 million construction loan facility from Wells Fargo as agent and TD Bank. The equity and debt were arranged by Toll Brothers' in-house finance department.
The community will consist of 393 rental apartments, including 356 market-rate and 37 affordable units, as well as a 589-space parking garage that will include EV (electric vehicle) charging stations. The apartment units will feature high-end luxury finishes and include a state-of-the-art fitness center and pool, rooftop deck, coworking spaces, library and wine room, high-end demo kitchen and dining room, a clubroom, and an indoor pet run and spa.
|Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
Already have an account? Sign In Now
*May exclude premium content© 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.
