Horsham, PA (PRWEB) July 25, 2012
Toll Brothers, Inc. (NYSE:TOL) (http://www.tollbrothers.com), the nation's leading builder of luxury homes, today announced it has hired Patrick Blount as Director of Business Development for Gibraltar Capital and Asset Management (gibraltarcapital.net), its growing wholly owned subsidiary. Gibraltar acquires and manages residential and commercial acquisition, development and construction loans and assets across the country. Since its inception, Gibraltar has acquired, on its own and in partnerships, portfolios of loans and assetsof over $2 billion.
As its Director of Business Development, Patrick will contribute to Gibraltar’s tremendous growth. Patrick will network with banks, hedge funds, private equity firms, investment banks,attorneys, brokers and others to identify potential opportunities for Gibraltar to acquire non-performing commercial and residential acquisition, development and construction loans and portfolios, as well as REO and other real estate assets, both on its own and through joint ventures.
Patrick has been active in the distressed asset and loan sale industry for the past 23 years. He has served as President and CEO of Benewolf, as Managing Director of Loan Sales at DebtX and, most recently, as Managing Director of Loan Sales and Valuations for the Carlton Group. He has served on the board of directors of chapters of both the Risk Management Association (RMA) and the Turnaround Management Association (TMA) and was the 2010 Chapter President of TMA. He is a nationally recognized expert, speaker and author on the subject of distressed debt and loan sales.
Roger A. Brush, president of Gibraltar Capital and Asset Management, stated, "We are very excited to add Pat to our organization. His 23 years of experience in the distressed assets and loan industry will complement our team’s broad underwriting, workout, and real estate skills, and add to the many opportunities to grow Gibraltar as he leverages his vast network.”
About Gibraltar Capital and Toll Brothers
Gibraltar was formed to pursue a broad range of real estate acquisition and investment opportunities. These include the acquisition and disposition of loans and property portfolios, the development of sites for sale, providing assistance to banks and developers in the workout of troubled assets, and other potential investments. Gibraltar’s senior management team combines expertise in real estate, distressed acquisitions and workouts, land development, and finance. Since its formation, Gibraltar has invested in the acquisition of individual loans and portfolios of commercial and residential acquisition, development and construction loans and properties, on its own and in partnership, with balances totaling more than $2 billion dollars.
Toll Brothers, Inc. (NYSE:TOL) (http://www.tollbrothers.com) 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 home buyers and operates in 20 states and 50 markets. 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.