Harrison Street remains committed to identifying high quality student housing opportunities at leading universities backed by consistent and growing enrollment.вЂќД¬anvas is currently pre-leasing and is planning to welcome its first residents in fall 2021. We are delighted to partner with Toll Brothers as we have long respected their track record and institutional strength. Harrison Street has been an active investor in the Tempe market for over 10 years and has invested in nearly 160,000 beds in the US since inception. Justin Gronlie, Director and Head of Education Real Estate for Harrison Street, said, вЂњWe are excited to close on the development of Canvas. Now, through our Toll Brothers Apartment Living and Campus Living divisions, we are extending our brand by offering spectacular rental and student housing communities as well.вЂќ Toll Brothers has been building for-sale home communities in Arizona for over twenty-five years. We also appreciate the support of our lending banks: MidFirst, Fifth Third and Trustmark. As a student housing community, Canvas will bring together the same quality and service that we are known for across our multifamily portfolio.вЂќДЇred Cooper, Toll BrothersвЂ™ Senior Vice President for Finance, International Development and Investor Relations, said, вЂњWe look forward to partnering on Canvas with Harrison Street, which brings both impressive expertise in student housing and significant experience in the Tempe market. Unit amenities will include a modern furniture package, quartz countertops, private bedroom door locks, walk-in closets, computer-controlled access, smart television, central air conditioning, private bedrooms and bathrooms, in-unit washer/dryer, hardwood-style floors, high-speed Internet, stainless steel appliances and a microwave oven.Д¬harles Elliott, President of Toll Brothers Apartment Living, said, вЂњWe are excited to grow our Toll Brothers Campus Living footprint into the dynamic southwest market near one of the largest universities in the U.S. The community will include a 6-level 469-space parking garage and offer luxury amenities, including a state-of-the-art fitness center, clubroom with an Esports lounge, rooftop pool and amenity deck, business center, cafГ©/lounge space, ground floor retail, courtyard and fire pit, grilling stations, electronic parcel lockers, private study rooms and bike storage. Д¬anvas is situated on a 3.37-acre site just a three-minute walk from ASUвЂ™s campus and near surrounding restaurants, bars, coffee shops, retail and entertainment options. The Times Higher Education and World University Rankings also ranked ASU in the top 1% of the worldвЂ™s most prestigious universities in 2020.

with an enrollment of more than 53,200 undergraduates. News & World Report, which also ranked ASUвЂ™s Tempe campus as the 7 th largest in the U.S. TSB Capital Advisors served as advisor to Toll Brothers.ДЄSU was named the #1 university for Innovation in 2019 by U.S. The debt and equity financing were arranged by Toll BrothersвЂ™ in-house Finance Department. The joint venture has secured a construction loan facility from MidFirst Bank, as Administrative Agent, Fifth Third Bank, National Association, and Trustmark Bank. Cardinal Group Management will act as the leasing and property manager. Toll Brothers Campus Living will manage the development, construction and marketing, and perform asset management. The joint venture is excited to partner with Subtext, a real estate development company creating innovative solutions for students and young professionals to live, thrive, and connect. Toll Brothers Campus Living develops communities that combine modern amenities and strategic community design to fit the needs and lifestyle of students. builder of luxury homes, through its Toll Brothers Campus Living rental division, and Harrison Street, one of the leading investment management firms exclusively focused on alternative real assets, today announced the formation of a new joint venture to develop Canvas, a 263-unit, 826-bed luxury student housing community adjacent to Arizona State University (ASU) in Tempe, AZ. 14, 2021 (GLOBE NEWSWIRE) - Toll Brothers, Inc. Toll Brothers, America's Luxury Home Builder Toll Brothers, America's Luxury Home BuilderДЇORT WASHINGTON, Pa., Jan.

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