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Originally published March 8, 2012 at 2:10 PM | Page modified March 8, 2012 at 10:11 PM

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Toll Brothers buys Bellevue tract

The luxury home builder acquired a foreclosed 59-lot subdivision on Bellevue's Cougar Mountain from Seattle Bank.

By Seattle Times staff

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Home builder Toll Brothers has bought a 59-lot subdivision on Bellevue's Cougar Mountain from Seattle Bank for $15.9 million, according to county records.

The bank acquired the property, known as Belvedere Phase 2, through foreclosure in 2010 after developer Cougar Mountain Development defaulted on a $16.2 million loan, records show.

Pennsylvania-based Toll Brothers, which bills itself as the nation's largest luxury home builder, entered the Seattle market in November when it acquired most of the operations and assets of CamWest Development of Kirkland, one of the region's biggest builders.

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