Toll Brothers Apartment Living® and Gables Residential Announce Joint Venture to Develop 243-Unit Luxury Multifamily Community in Littleton, Colorado

JV secures $57 million construction loan from JPMorgan Chase

Toll Brothers, Inc. (TollBrothers.com), the nation’s leading builder of luxury homes, through its Toll Brothers Apartment Living^® rental division, and Gables Residential have announced a new joint venture to develop Gables Angeline, a four-story, 243-unit luxury multifamily rental community in Littleton, Colorado. The project is being financed through a $57 million construction loan facility from JPMorgan Chase. The equity and debt were arranged by Toll Brothers’ in-house Finance Department.

Gables Angeline will total 331,498 square feet and offer apartment homes with a mix of studio through three-bedroom floor plans. Each residence will feature designer finishes and thoughtfully appointed features, including quartz countertops, oversized closets, and private balconies or patios, along with optional private garages. The best-in-class amenity package will include a resort-style pool, a state-of-the-art fitness center with rock climbing wall, a community garden, a pet park with dog run, an outdoor pavilion, and a putting green. The community will also offer 1,200 square feet of retail space.

“We are thrilled to expand our national footprint with Gables Angeline, our first luxury multifamily community in Colorado,” said John McCullough, President of Toll Brothers Apartment Living. “With its prime location, upscale design, and strong connectivity to major employment hubs and outdoor recreation, Gables Angeline will offer residents an unmatched living experience in the suburbs of Denver.”

Located at 7900 S. Platte River Parkway in Littleton, Gables Angeline will be in proximity to downtown Denver and major employment campuses, including the Denver Tech Center, Children’s Hospital Colorado, and Lockheed Martin. The community will be located within walking distance of the RTD Light Rail Littleton/Mineral Station and a half mile from access to C-470. Residents will enjoy nearby entertainment, shopping, and recreation destinations, including Aspen Grove, a popular open-air shopping center, and Chatfield State Park.

“We are excited to partner with Toll Brothers on our first joint project, Gables Angeline, in the Denver market,” said Charles Elliott, Chief Investment Officer for Gables Residential. “Gables has been fortunate to have been in the Denver market since 2014, and to be able to continue to expand with a new partnership in this prime location is a great opportunity for both parties. We thrive on expanding our ability to bring our commitment to quality living experiences and exceptional service to new locations throughout Denver.”

Gables Angeline is Toll Brothers Apartment Living’s first development in Colorado. The community is adjacent to Toll Brothers’ master planned community, ParkVue on the Platte, a gated for-sale community offering three collections of modern townhomes. To learn more about Gables Angeline, visit TollBrothersApartmentLiving.com.

About Toll Brothers

Toll Brothers, Inc., a Fortune 500 Company, is the nation’s leading builder of luxury homes. The Company was founded 57 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware,
Florida, Georgia, Idaho, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, insurance, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.

In 2024, Toll Brothers marked 10 years in a row being named to the Fortune World’s Most Admired Companies™ list and the Company’s Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron’s magazine. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.

Toll Brothers discloses information about its business and financial performance and other matters, and provides links to its securities filings, notices of investor events, and earnings and other news releases, on the Investor Relations section of its website (investors.TollBrothers.com).

Source: Toll Brothers, Inc.