FRISCO, TX – Toll Brothers Apartment Living, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation’s leading builder of luxury homes, in partnership with Pondmoon Capital, announced the opening of Mirra, a five-tale, 285-unit luxury apartment community located in the heart of Frisco Square near Dallas, Texas. Mirra offers a refined living experience with thoughtfully designed residences and an array of upscale amenities. Construction started in January 2023 and the community recently commenced the go-in of its first residents.
We are thrilled to welcome our first residents at Mirra in the vibrant community of Frisco, said John McCullough, President of Toll Brothers Apartment Living. Mirra was designed to provide residents with a sophisticated, connected, and comfortable community, reflecting our commitment to developing residences that deliver the quality and elevated lifestyle that today s renters expect.
Mirra features a mix of studio, one-bedroom, and two-bedroom apartment homes, each crafted with high-end finishes and modern conveniences. Residents delight in granite countertops with tile backsplashes, stainless steel appliances, designer lighting, oversized closets with built-in shelving, and smart home technology, including keyless entry and smart thermostats. Select residences offer kitchen islands, double bathroom vanities, glass-enclosed showers, and private balconies or patios, providing an ideal space for relaxation and elevated comfort.
The community boasts an impressive suite of amenities designed to help residents balance life-on-the-go with relaxation. These include a resort-style pool with lounge seating and firepit, a two-tale fitness center with a yoga and spin studio featuring Peloton® equipment, a clubroom with entertainment bar, a game lounge with billiards, and multiple coworking spaces with conference rooms. Additional amenities include a pet spa, bike storage, a social mailroom, and a covered parking garage with reserved parking and EV charging stations.
Mirra represents our dedication to making communities that offer both luxury and a sense of belonging, said Tommy Rhodus, Managing Director of Toll Brothers Apartment Living in the Central region. The community s prime location in Frisco Square provides residents with unparalleled access to shopping, dining, entertainment, and major employment centers.
Located at 8320 Church Street, Mirra is situated in Frisco Square, offering simple access to dining, specialty stops, and a variety of local attractions, including Toyota Stadium, the National Soccer Hall of Fame, the Frisco Rail District, Kaleidoscope Park, Stonebriar Centre, and the Frisco Public Library. The community is also conveniently located near major thoroughfares, providing simple connectivity to the Dallas North Tollway, Legacy Business Park, The Star, and the new PGA of America headquarters.

Powered by WPeMatico

SEATTLE, WA – Global real estate investment company Kennedy Wilson has partnered with Kenedix, Inc. and Hulic Co., Ltd. to buy The Danforth in Seattle for $173 million. The 265-unit multifamily community with Whole Foods as the sole ground-floor tenant builds on Kennedy Wilson s significant multifamily presence in the Pacific Northwest that totals more than 13,000 market rate and affordable apartment units.
Given our 30-year history in Japan, we are proud to continue the growth of our investment management platform alongside these two prestigious companies that are aligned with our investment strategy and our focus on delivering quality housing within growing Pacific Northwest markets, said William McMorrow, Chairman and CEO of Kennedy Wilson. The Danforth provides an opportunity to buy a recently built community at a discount to replacement cost within an area experiencing limited new construction and strong absorption due to recent return-to-office initiatives from leading technology employers.
We appreciate the opportunity to participate in this joint investment. With continued population growth and the potential for attractive returns, we are strengthening our initiatives in the U.S. real estate market, said Hikaru Teramoto, Representative Director, President & COO at Kenedix, Inc.
We are pleased to have our first JV investment with Kennedy Wilson and Kenedix. We are currently increasing international investment with partners in areas where continued population and economic growth are expected. We believe this investment satisfies our criteria, said Sohei Okuno, General Manager, Global Investment Department at Hulic Co., Ltd.
The Danforth, a 16-tale tower constructed in 2018, features 1- , 2-, and 3-bedroom layouts and access to Seattle s newest Whole Foods Market on the ground floor. The community offers expansive amenities including a Studio Fit fitness center, rooftop solarium and dog run, a resident lounge with shuffleboard and media center, a full demonstration kitchen, and a BBQ patio with multiple grills.
Located at the intersection of Seattle s First Hill and Capitol Hill neighborhoods, The Danforth is adjacent to the city s best restaurants, nightlife, and largest employers. It is also positioned within Seattle s largest hospital network, with a $1.3 billion expansion project set for completion by 2027 that will support a highly educated and well-compensated resident base.
Kennedy Wilson has a 10% interest, investing $6.6 million of equity in the core plus joint venture, and will serve as asset manager for the partnership and will earn customary fees.

Powered by WPeMatico

SEATTLE, WA – Fourth Avenue Capital and Range Equity Management, in a joint venture with PCCP, have bought 2121 Belmont, a stabilized Class-A multifamily property located in the Buckman neighborhood of Portland, Oregon. With this acquisition, Fourth Avenue Capital now owns 25 assets across its portfolio, including six other properties in the Portland MSA.
Originally built in 2008 as condominium units, 2121 Belmont is comprised of 123 oversized apartment units averaging approximately 981 square feet. The property offers high-end interior finishes including real hardwood floors, gas ranges, stainless steel appliances, and central heating and air conditioning. Despite its boutique scale, the property features concrete and steel Type I construction, delivering a distinct resident experience highlighted by a 1:1 parking ratio. Amenities include a fitness center, onsite leasing office, dog wash station, and bike storage.
“We targeted this asset because of its differentiated product type — Type I construction, large unit sizes, and dedicated parking for every residence,” said Davis Vaughn, Managing Partner at Fourth Avenue Capital. “We believe the opportunity to buy this level of quality at approximately half of replacement cost, combined with its unique features, will yield a durable competitive advantage and make outsized value for our investors.”
Strategically located in Portland’s Buckman neighborhood, 2121 Belmont sits at the heart of the city’s rapidly developing Central Eastside. Its position on Belmont Street provides residents with brilliant access to downtown and walkability to urban amenities including dining, nightlife, and public parks.
“We are excited about this acquisition given the unique attributes of the asset and cyclical recovery of the market. We look forward to executing our value-add business plot in conjunction with our partners at FAC and PCCP,” said Andrew Gindy, Managing Partner at Range Equity Management.

Powered by WPeMatico