Sam Zell Partners With Toll on $1.9 Billion Apartment Deal

September 6, 2021
Craig Giammona - Bloomberg

Sam Zell’s Equity Residential and the luxury homebuilder Toll Brothers Inc. have formed a partnership to develop apartments, looking to deploy $1.9 billion to take advantage of the surging demand for rentals.

The two companies will invest about $750 million in equity, plus additional debt, over the next three years to develop projects in Boston, Seattle, Atlanta Austin, Denver, Dallas-Fort Worth and the San Diego area, according to a statement on Tuesday.



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