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A joint venture between Toll Brothers Apartment Living and International Capital will develop The Airedale, a 348-unit luxury multifamily property in Charlotte, N.C.

This marks Toll Brothers’ first development in the state. Earlier last month, the firm opened Mirra, a 285-unit luxury community. The five-story building is in Frisco, Texas.

The partnership obtained a $56.8 million construction loan facility for The Airedale. TD Bank provided the note, while Toll Brother’s in-house team arranged the equity and debt. Toll Brothers Apartment Living will also manage the community.