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Boston & New England  + Metro Boston  + Apartments  |  October 15, 2021
Atwood Multifamily in Saugus, MA
Lisa McDuffie
By: Lisa McDuffie

Toll Brothers, Principal Real Estate Investors to Develop 300-Unit Multifamily in Metro Boston

Toll Brothers, Inc., through its Toll Brothers Apartment Living® rental division, and Principal Real Estate Investors have announced the formation of a new joint venture to develop Atwood, a 300-unit multifamily rental community in Saugus, MA.

The project is being financed through a $68 million construction loan facility from Citizens as lead administrative agent and Comerica Bank. The debt and equity were arranged by Toll Brothers’ in-house finance department, while Toll Brothers Apartment Living will manage the development, marketing, and property management.

Atwood is located on a 28-acre site in a suburban setting 10 miles north of Downtown Boston (with unobstructed views of the Boston skyline) and adjacent to the Route 1 retail corridor. It will consist of 300 rental apartments, including 225 market-rate and 75 affordable-rate units, in five stories of slab-on-grade, wood-frame construction with surface parking and 25 garage parking spaces.

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Toll Brothers Apartment Living

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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  • ◦Development
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