Sherin and Lodgen represents J.P. Morgan and Toll Brothers in leasing for solar project at the Carraway Apartments in New York
Sherin and Lodgen represented Carraway Apartments LLC (DE) in connection with a rooftop and parking canopy leasing for a solar project facilitated by Distributed Solar Development. Carraway is co-owned by institutional investors advised by J.P. Morgan Asset Management and Toll Brothers, Inc., through its Toll Brothers Apartment® Living rental subsidiary, as part of their joint venture to collaborate on developing the 421-unit luxury apartment community located in Harrison, New York. The solar array includes 0.26307 MWdc of rooftop solar and a parking canopy totaling 0.96558 MWdc.
The Sherin and Lodgen team, led by managing partner Douglas M. Henry and partner Jennifer L. Ioli, drafted and negotiated the solar leases for Carraway.
The national Renewable Energy Practice Group at Sherin and Lodgen represents lenders, developers, municipalities, and companies committed to sustainability through solar, wind, hydro, and energy storage initiatives. Clients rely on our experience in financing, development, acquisition, leasing, environmental, and permitting to navigate this ever-changing market and accomplish their business goals. The group has particular experience assisting lenders in navigating the Solar Massachusetts Renewable Target (SMART) program.
About Toll Brothers Apartment Living®
Toll Brothers Apartment Living (TBAL) is the apartment development division of Toll Brothers, Inc. (NYSE: TOL), an award-winning Fortune 500 company and the nation’s premier builder of luxury homes. Toll Brothers Apartment Living is bringing the same quality, value, and service familiar to luxury home buyers throughout the country to upscale urban and suburban rental communities in select markets, including Atlanta, Boston, Dallas, Los Angeles, New York, Philadelphia, Phoenix and Washington, DC. Toll Brothers Apartment Living has developed more than 6,400 units, has more 4,100 units under management and controls a national pipeline of more than 16,000 units. Toll Brothers Apartment Living communities combine the energy of vibrant locations with unparalleled amenities, resident services, design, and the expertise of the nation’s leading builder of luxury homes. For more information visit TollBrothersApartmentLiving.com
About J.P. Morgan Global Alternatives
J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than 50 years as an alternatives investment manager, $150 billion in assets under management and more than 600 professionals (as of September 30, 2020), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds. Operating from offices throughout the Americas, Europe and Asia Pacific, our 14 independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives. For more information: jpmorganassetmanagement.com.
About Distributed Solar Development
Distributed Solar Development (DSD) was launched as a startup within General Electric (GE) in 2012. Empowered by that singular legacy of ingenuity, DSD’s visionary team set out to push solar’s potential forward — by making it more accessible to forward-thinking commercial, industrial, and municipal organizations. Today, with the company’s unparalleled experience and deep bench of solar industry talent, DSD is the only true “one-stop shop” for large-scale, custom solar PV, and energy storage solutions.