Toll Brothers Campus Living and CanAm Enterprises Form Joint Venture to Develop 293-Unit, 1,086 Bed Student Housing Community in Miami, Florida - Seite 2

Charles Elliott, President of Toll Brothers Apartment Living, said, “We are excited to develop our first multifamily project in Florida. Lapis will be a great addition to the FIU community, providing students the same quality and service we’re known for throughout the country.”

Fred Cooper, Toll Brothers’ Senior Vice President for Finance, International Development and Investor Relations, said, “Lapis is our fourth major student housing community across the U.S. We are very much looking forward to partnering with CanAm, which possesses a strong track record in the Florida market. Ocean Bank, which also enjoys an impressive track record as well as a history of leadership involvement at FIU and in the South Florida community, is the ideal lender for this exciting project.” 

John Reid, Director of Project Development at CACP said, “Lapis is a strategic project that will serve the growing demand for student housing in the FIU market. This closing marks our eighth investment in Florida projects over the last year. At CACP, we pride ourselves on partnering with best-in-class developers, and we couldn’t be more thrilled to be paired with Toll Brothers in this development.”

Jose E. Lopez, Senior Vice President and Regional Manager of Ocean Bank, said, “Ocean Bank has a long and strong relationship with FIU, including sponsorship of the Ocean Bank Convocation Center on campus. We are very familiar with the need for additional housing for students and are pleased to provide construction financing for Lapis.”

ABOUT TOLL BROTHERS
Toll Brothers, Inc., a FORTUNE 500 Company, is the nation's leading builder of luxury homes. The Company was founded over 50 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, golf course development, smart home technology, and landscape subsidiaries. The Company also operates its own lumber distribution, house component assembly, and manufacturing operations.