We look forward to becoming an active partner for the residents and businesses of this vibrant community." Fred Cooper, Toll Brothers' Senior Vice President, Finance and Investor Relations, stated: "Rafferty represents the first in a series of exciting transformative projects Toll Brothers will be developing in Opportunity Zones across the U.S. and will make a significant contribution to the vitality and energy of Santa Ana's historic downtown lifestyle. We look forward to working with EJF and Santander Bank to bring this dynamic project to fruition." "Santa Ana is in the middle of an incredibly dynamic county, yet the majority of its residents commute to jobs outside the area," concluded Asheel Shah, EJF's Senior Managing Director and Head of Real Estate Development. "We believe this combined imbalance is driven by the lack of new multifamily housing opportunities in downtown Santa Ana, and that Rafferty is well-positioned to capture unmet demand for multifamily living in this community."