Toll Brothers, Inc. (NYSE:TOL), the nation's leading builder of luxury homes, recently purchased 180 acres in Katy, Texas
Houston, TX and Horsham, PA (PRWEB) June 22, 2011
Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, recently purchased 180 acres in Katy, Texas, the first and largest raw land contract for the national home builder since entering the Houston market in 2009. Toll Brothers worked with Moody Rambin Interest to complete this successful transaction.
The Katy property, to be known as Silver Oak, will be the future home of 305 luxury homes. The Company has estimated development to start at the end of 2011.
“I am thrilled about the acquisition of this premier land opportunity in Katy and all other communities we have recently opened,” said Karl Mistry, Houston Division Vice President. “This reflects how interested we are in securing luxury sites locally to boost the future growth of the Company in the Houston Division,” he added.
In the first 18 months since entering the Houston market, Toll Brothers successfully purchased lot options and opened for sale in seven communities, Village of Tupelo Woods at Creekside Park, Village of Timarron at Creekside Park, Player Vista at Sterling Ridge in The Woodlands; Creekside at West Ranch in Friendswood; Riverstone in Sugar Land; Barrington in Kingwood; and Vintage Lakes in Houston.
Toll Brothers is also building luxury home communities in Dallas and San Antonio, two other thriving Texas cities. For more information on Toll Brothers’ Texas communities, please visit TollBrothers.com/Texas .
Toll Brothers, Inc. is the nation's leading builder of luxury homes. The Company began business 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 move-up, empty-nester, active-adult, and second-home buyers and operates nationwide.
Toll Brothers builds luxury single-family detached and attached home communities; master planned luxury residential, resort-style golf communities; and urban low-, mid-, and high-rise communities, principally on land it develops and improves. The Company operates its own architectural, engineering, mortgage, title, land development and land sale, golf course development and management, home security, and landscape subsidiaries. The Company also operates its own lumber distribution, and house component assembly and manufacturing operations.
Toll Brothers was ranked #1 in 2011 and 2010 in Financial Soundness, Long-Term Investment, and Quality of Products/Services in FORTUNE magazine‘s annual World’s Most Admired Companies survey in the home building category. The Company is also honored to have won the three most coveted awards in the home building industry: America’s Best Builder, the National Housing Quality Award, and National Builder of the Year. Toll Brothers proudly supports the communities in which it builds; among other philanthropic pursuits, the Company sponsors the Toll Brothers - Metropolitan Opera International Radio Network, bringing opera to neighborhoods throughout the world. For more information, visit TollBrothers.com.
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