|Traded as||NYSE: TOL|
|Predecessor(s)||predecessors of the company operated from 1967|
|Founder(s)||Robert I. Toll
Bruce E. Toll
|Headquarters||Horsham, Pennsylvania, United States|
|Products||single-family detached and attached residences|
Toll Brothers is an American company based in Horsham, Pennsylvania. The Company's core business is to "design, build, market and arrange financing for single-family detached and attached homes in luxury residential communities". The company operates primarily in major metropolitan areas in the contiguous United States.
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.
On October 31, 2010, the company had over US$1.2 billion in cash, total assets of over $5.2 billion and shareholders' equity of $2.6 billion. By November 2011, the company's cash on hand remained in excess of US$1 billion. In November 2013, Toll Brothers purchased Shapell Homes (founded by Nathan Shapell) for $1.6 billion.
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.
Toll Brothers currently operate in the following major suburban and urban residential markets:
- 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
- Seattle, Washington metropolitan area
Subsidiaries and partners
Companies often competing in the same markets as Toll Brothers include private builders and public homebuilders like Woodmeister Master Builders, LGI Homes, Pulte Homes, D.R. Horton, KB Home, Lennar Corporation, and Ryland Group Inc.
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.
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." The Northside Piers project gained notoriety in September 2007 when it caught fire during construction.As of August 2013, Toll Brothers has over 200 active lawsuits against it by homeowners either for defective construction and or misrepresentations made at sales.
- Toll Brothers (28 Dec 2012), TOLL BROTHERS, INC., 10-K, U.S. Securities and Exchange Commission, retrieved 27 Jan 2013
- Toll Brothers, Inc., Form 10-K, U.S. Securities and Exchange Commission, 22 Dec 2010
- Corporate Profile, Toll Brothers, December 2010
- 2010 Annual Report, Toll Brothers, 2010
- Kosteini, Natalie (8 Nov 2011), "Toll Bros. revenue grows 6%", Philadelphia Business Journal, Morning Roundup, retrieved 9 Dec 2011
- Fox Business: "Toll Brothers to Buy Shapell Homes for $1.6B, 4Q Revenue Soars" By Matthew Rocco November 07, 2013
- Exhibit 21. Subsidiaries of Registrant, 10-K, US Securities and Exchange Commission, 28 Dec 2012, retrieved 27 Jan 2013
- Pearson, Sophia (2 Nov 2010), "Toll to Pay $25 Million to End Lawsuit Alleging Company Misled Investors", bloomberg.com (Bloomberg L.P.)
- Calder, Rich (23 Mar 2011), "Williamsburg waterfront condo residents complain of 'shoddy' construction", New York Post, nypost.com
- Dobkin, Jak (26 Sep 2007), "Williamsburg Condo Market Going up in Flames", Gothamist (blog) (Gothamist)