Toll Brothers and Pondmoon Capital are teaming up to develop Mirra, a five-story, 285-unit multifamily rental community in Frisco, Texas. The project, which begins construction next month, is being financed through a $49.5 million construction loan facility from Santander Bank N.A. The equity and debt were arranged by Toll Brothers’ in-house Finance Department.

Mirra is located on a 2.96-acre lot in Frisco Square Town Center, in the heart of Frisco, Texas, and is adjacent to two other properties Toll Brothers developed with other partners. The community will consist of 285 rental apartments as well as a 447-space parking garage. The apartment units will feature high-end luxury finishes and a best-in-class amenity package, including a state-of-the-art fitness studio, a resort-style pool, expansive coworking spaces, a clubroom, a social mail lounge, a bike lounge, and an outdoor lounge with gaming and barbecue.