Toll Brothers
Encyclopedia
Toll Brothers is a Horsham
, Pennsylvania
based luxury homes builder
.
Toll Brothers takes real estate projects from initial evaluation through land acquisition, land planning, entitlements, development, and completion. The Company builds customized single-family homes, carriage homes and town homes, active adult communities, golf course communities, and midrise and high-rise projects, principally in suburban and urban locations. It targets first-time, move-up, empty-nester, active-adult, and second-home buyers. http://www.tollbrothers.com/pdfs/Corporate_Profile_1210.pdf
On October 31, 2010, the Company had over $1.2 billion in cash, total assets of over $5.2 billion and shareholders' equity of $2.6 billion. http://www.tollbrothers.com/pdfs/Toll_Bros_2010_Annual_Report.pdf
To support its real estate operations, the Company operates its own land development, engineering, marketing, golf course development and management, architectural, mortgage, title insurance and landscape subsidiaries. The Company acquires and develops commercial properties through Toll Commercial, and its affiliate, Toll Brothers Realty Trust, and purchases large distressed
real estate portfolios through Gibraltar Capital and Asset
Management. http://www.tollbrothers.com/pdfs/201010K.pdf
TBI Mortgage; Westminster Insurance Agency, Inc.; Westminster Title Company, Inc.; Toll Integrated Systems (TIS); Toll Landscape; Toll Architecture; and ESE Consultants, Inc. (aka Eastern States Engineering) (ESE)
, D.R. Horton, KB Home
, Lennar Corporation
, and Ryland Group Inc.
Toll Brothers has also been accused of fraud and substandard construction by residents of the Northside Piers development in Williamsburg, Brooklyn. They have complained that "walls are leaky and poorly insulated; mold is growing in the walls; and there is faulty plumbing, sewage, heating and air-conditioning systems." http://www.nypost.com/p/news/local/brooklyn/williamsburg_waterfront_condo_residents_PtEt4zzFD2qR6QDJAt6kRO The Northside Piers project gained notoriety in September 2007 when it caught fire during construction.http://gothamist.com/2007/09/26/williamsburg_co.php
Horsham, Pennsylvania
Horsham is a census-designated place in Montgomery County, Pennsylvania, United States. The population was 14,842 at the 2010 census. Horsham is located entirely within Horsham Township, and it is home to Naval Air Station Joint Reserve Base Willow Grove.In 2007, Horsham was named the 15th best...
, Pennsylvania
Pennsylvania
The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...
based luxury homes builder
General contractor
A general contractor is responsible for the day-to-day oversight of a construction site, management of vendors and trades, and communication of information to involved parties throughout the course of a building project.-Description:...
.
Company Overview
Toll Brothers is a residential and commercial real estate development company with communities in 50 markets throughout 19 states. Since 1967, Toll Brothers has acquired, developed, marketed and operated a wide variety of residential and commercial real estate projects.Toll Brothers takes real estate projects from initial evaluation through land acquisition, land planning, entitlements, development, and completion. The Company builds customized single-family homes, carriage homes and town homes, active adult communities, golf course communities, and midrise and high-rise projects, principally in suburban and urban locations. It targets first-time, move-up, empty-nester, active-adult, and second-home buyers. http://www.tollbrothers.com/pdfs/Corporate_Profile_1210.pdf
On October 31, 2010, the Company had over $1.2 billion in cash, total assets of over $5.2 billion and shareholders' equity of $2.6 billion. http://www.tollbrothers.com/pdfs/Toll_Bros_2010_Annual_Report.pdf
To support its real estate operations, the Company operates its own land development, engineering, marketing, golf course development and management, architectural, mortgage, title insurance and landscape subsidiaries. The Company acquires and develops commercial properties through Toll Commercial, and its affiliate, Toll Brothers Realty Trust, and purchases large distressed
real estate portfolios through Gibraltar Capital and Asset
Management. http://www.tollbrothers.com/pdfs/201010K.pdf
Markets
Toll Brothers currently operates in the following major suburban and urban residential markets:http://www.tollbrothers.com/pdfs/201010K.pdf- Philadelphia, Pennsylvania metropolitan area
- Lehigh Valley area of Pennsylvania
- Central and northern New Jersey
- Virginia and Maryland suburbs of Washington, D.C.
- Baltimore, Maryland metropolitan area
- Eastern Shore of Maryland and Delaware
- Richmond, Virginia metropolitan area
- Boston, Massachusetts metropolitan area
- Fairfield, Hartford, New Haven and New London Counties, Connecticut
- Westchester, Dutchess, Ulster and Saratoga Counties, New York
- Boroughs of Manhattan and Brooklyn in New York City
- Los Angeles, California metropolitan area
- San Francisco Bay, Sacramento and San Jose areas of northern California
- San Diego and Palm Springs, California areas
- Phoenix, Arizona metropolitan area
- Raleigh and Charlotte, North Carolina metropolitan areas
- Dallas, San Antonio and Houston, Texas metropolitan areas
- Southeast and southwest coasts and the Jacksonville and Orlando areas of Florida
- Las Vegas and Reno, Nevada metropolitan areas
- Detroit, Michigan metropolitan area
- Chicago, Illinois metropolitan area
- Denver, Colorado metropolitan area, and
- Minneapolis/St. Paul, Minnesota metropolitan area
Principal subsidiaries
Toll operates their own land development, architectural, engineering, mortgage, title, landscaping, security monitoring, lumber distribution, house component assembly, and manufacturing operations. They also develop, own and operate golf courses and country clubs associated with several of our master planned communities.TBI Mortgage; Westminster Insurance Agency, Inc.; Westminster Title Company, Inc.; Toll Integrated Systems (TIS); Toll Landscape; Toll Architecture; and ESE Consultants, Inc. (aka Eastern States Engineering) (ESE)
Principal competitors
Companies often competing in the same markets as Toll Brothers include private builders and public homebuilders like Pulte HomesPulte Homes
Pulte Homes, Inc is a Bloomfield Hills, MI based company founded by Bill Pulte. Announced April 8, 2009, Pulte Homes has agreed to acquire Centex - creating the nation's largest homebuilding company in a stock transaction worth $3.1 billion, including $1.8 billion of debt...
, D.R. Horton, KB Home
KB Home
KB Home is a homebuilding company based in the United States, founded in 1957 as Kaufman & Broad in Detroit, Michigan. It was the first company to be traded on the NYSE as a home builder and is a Fortune 500 company...
, Lennar Corporation
Lennar Corporation
Lennar Corporation is a Fortune 500 company based in Miami, Florida, United States, in the Fountainbleau area. It was founded in 1954.In 2008, Lennar was the United States' second largest homebuilder, constructing homes in 17 different states throughout the United States, including Arizona,...
, and Ryland Group Inc.
Criticism
Toll Brothers was sued in April 2007 by investors claiming they were misled by directors about demand for new home construction. The suit was later settled for $25 million, though Toll Brothers did not admit any wrongdoing. http://www.bloomberg.com/news/2010-11-02/toll-brothers-to-pay-25-million-to-end-lawsuit-alleging-investors-misled.htmlToll Brothers has also been accused of fraud and substandard construction by residents of the Northside Piers development in Williamsburg, Brooklyn. They have complained that "walls are leaky and poorly insulated; mold is growing in the walls; and there is faulty plumbing, sewage, heating and air-conditioning systems." http://www.nypost.com/p/news/local/brooklyn/williamsburg_waterfront_condo_residents_PtEt4zzFD2qR6QDJAt6kRO The Northside Piers project gained notoriety in September 2007 when it caught fire during construction.http://gothamist.com/2007/09/26/williamsburg_co.php