Toll Brothers Apartment Living and The Davis Companies Announce Joint Venture to Develop 403-Unit Rental Community in Phoenix, Arizona - Seite 2

Charles Elliott, President of Toll Brothers Apartment Living, stated: “We’re thrilled to expand our Toll Brothers Apartment Living presence in Phoenix and surrounding areas in Arizona. The market has seen significant employer growth bringing in transformative developments to the area. Callia will mark our third multifamily community, joining Haverly, and Canvas - a Toll Brothers Campus Living community, which is adjacent to Arizona State University.”

Fred Cooper, Toll Brothers’ Senior Vice President, Finance and Investor Relations, stated: “We are excited to be undertaking our sixth community with The Davis Companies, which has joined us on new projects in a variety of markets across the U.S. We also thank Pinnacle and Trustmark for their support in bringing Callia to reality. This will be another great addition to the portfolio of TBAL communities being developed in Arizona and a strong complement to the wide array of Toll Brothers’ for-sale home communities in the state.”

“Toll Brothers Apartment Living has been a fantastic partner for our firm,” stated Gary Hofstetter, SVP, Asset Management for The Davis Companies. “We look forward to continuing our work with them as we enter the fast-growing Phoenix market with this well-located, highly amenitized, luxury community.”

Please visit TollBrothersApartmentLiving.com for future updates and information regarding the community.

ABOUT TOLL BROTHERS
Toll Brothers, Inc., a FORTUNE 500 Company, is the nation's leading builder of luxury homes. The Company was founded over 50 years ago 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 first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, golf course development, smart home technology, and landscape subsidiaries. The Company also operates its own lumber distribution, house component assembly, and manufacturing operations.