Toll Brothers, SMI snag $144M loan for 91 Leonard

The U.S. arm of Shanghai Municipal Investment just shelled out $73 million for a majority stake in a Toll Brothers project in Tribeca. SMI USA and toll brothers city living plan to develop a 19-story,

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Toll Brothers Southern California, Orange, CA. 5,782 likes 41 talking about this. America’s Luxury Homebuilder. In Business Since 1967. Fortune.

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Toll Brothers, Inc. is engaged in designing, building, marketing, selling and arranging financing for detached and attached homes in luxury residential communities. The Company operates through two segments: traditional home building and Toll Brothers City Living (City Living).

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Earlier this month, Toll Brothers City Living and the U.S. division of Shanghai Municipal Investment announced its joint-venture plan to develop the 19-story, 111-unit luxury condominium at 351-357.

Toll Brothers City Living and its new equity partner SMI USA secured $144 million in construction financing for the condominium project at 91 Leonard Street. which breaks down into a $41 million.

Tokyo-based mitsubishi ufj financial group (MUFG Union Bank) led a syndicate of banks in providing Toll Brothers with a $144 million construction financing package for its planned tribeca luxury condo development named 91 Leonard, according to records filed today with the city’s Department of Finance.

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