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Photo Release -- Toll Brothers Announces "Anthem Ranch by Toll Brothers" -- Its First Active-Adult Community in Colorado and



Photo Release -- Toll Brothers Announces "Anthem Ranch by Toll Brothers" --
Its First Active-Adult Community in Colorado and Western U.S.

HORSHAM, Pa., March 8, 2013 (GLOBE NEWSWIRE) -- Toll Brothers, Inc.,
(NYSE:TOL) (www.tollbrothers.com), the nation's leading builder of luxury
homes, today announced that it had contracted to acquire 387 lots at Anthem
Ranch, the premier active-adult community in the metro Denver, Colorado
market. This represents Toll Brothers' expansion of its active-adult Active
Living® brand to the Western United States.

Aspen Lodge at Anthem Ranch
  Aspen Lodge at Anthem Ranch

A photo accompanying this release is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=17509

Anthem Ranch is an approximately 1,700-home, 800-acre active-adult community
located in Broomfield, Colorado. It is part of the larger master plan known as
Anthem Colorado in which nearly 1,400 homes have been built since its opening
in 2006.

Amenities at Anthem Ranch include the 32,000-square-foot Aspen Lodge Community
and Recreation Center, a 90-acre park, an outdoor amphitheater, picnic
pavilion, multiple fishing lakes and fishing pier. Located just 20 minutes
from both downtown Denver and Boulder, Colorado and 25 minutes from Denver
International Airport, Anthem boasts extraordinary Rocky Mountain views and
over 48 miles of walking and hiking trails intermingled among 735 acres of
preserved open space, making it the ideal place for active adult living.

Neighborhoods in the community where Toll Brothers is building will be
identified as "Anthem Ranch by Toll Brothers". Toll Brothers plans to offer 12
to 15 different floor plans ranging in size from 1,500 to over 3,000 square
feet with base home prices from the low $300,000s to the upper
$400,000s. Through Toll Brothers' unique customization system, buyers will be
able to extensively customize their homes with a tremendous variety of
structural and designer options to enhance their lifestyles. The Company
expects to open for sale in May 2013 with the Grand Opening of its model home
park in January 2014. 

Douglas C. Yearley, Jr., Toll Brothers' chief executive officer, stated: "We
are very excited to be bringing Toll Brothers' Active-Living brand to Anthem
Ranch and the American West. Since 1999, when we entered the active-adult
market, we have completed or have in development over 50 active adult
communities totaling nearly 10,000 homes in 10 east coast and mid-western
states. Today we have become the premier luxury brand in the 55+ buyer market.
As waves of baby boomers continue to enter their 55+ years, we are expanding
our Active-Living brand across the nation."

Jeff Handlin of Oread Capital, which, along with partner Wheelock Street
Capital, acquired Anthem in 2011 from Del Webb, the original developer,
stated: "Our goal has always been to maintain Anthem Ranch's standing as the
No. 1 active-adult community in Colorado. Bringing a builder of the quality
and stature of Toll Brothers to our community only enhances the appeal of
Anthem Ranch to discerning, active-adult home buyers. Named Builder of the
Year in 2012 by Professional Builder magazine, Toll Brothers is the only
builder to have won the award twice."

Charles W. Bowie, Toll Brothers' Division President for Colorado, stated:
"Having built move-up and empty-nester homes in the metro Denver market for
over a decade, we believe Anthem Ranch is the ideal location for us to
introduce our Active-Living brand in the western United States. We are
thrilled to have closed on our first neighborhood and look forward to working
with the Wheelock/Oread team to bring our beautiful homes to this magnificent
community."

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 in 19 states: Arizona, California, Colorado, Connecticut, Delaware,
Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New
Jersey, New York, North Carolina, Pennsylvania, Texas, Virginia, and
Washington.

Toll Brothers builds an array of luxury residential communities, principally
on land it develops and improves: single-family detached and attached home
communities, master planned resort-style golf communities, and urban low-,
mid- and high-rise communities. 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, house component assembly,
and manufacturing operations. The Company acquires and develops commercial
properties through Toll Commercial and its affiliate, Toll Brothers Realty
Trust, and purchases distressed loan and real estate asset portfolios through
its wholly owned subsidiary, Gibraltar Capital and Asset Management.

Toll Brothers is honored to have won the three most coveted awards in the
homebuilding industry: America's Best Builder from the National Association of
Home Builders, the National Housing Quality Award and Builder of the
Year. Toll Brothers was awarded Builder of the Year for 2012 and is the only
two-time recipient. 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
www.tollbrothers.com.

Wheelock Street Capital is a private real estate development company backed by
established institutional capital that pursues acquisitions and
recapitalizations of real estate assets in the hospitality, multi-family, and
residential land sectors.  More information is available at
www.wheelockst.com.  Oread Capital & Development is a Denver-based private
real estate development and management company, founded and managed by Jeff
Handlin.  More information is available at www.oreadcapital.com.

Information presented herein for the first quarter ended January 31, 2013 is
subject to finalization of the Company's regulatory filings, related financial
and accounting reporting procedures and external auditor procedures.

Certain information included in this release is forward-looking within the
meaning of the Private Securities Litigation Reform Act of 1995, including,
but not limited to, information related to: anticipated operating results;
anticipated financial performance, resources and condition; selling
communities; home deliveries; average home prices; consumer demand and
confidence; contract pricing; business and investment opportunities; and
market and industry trends. 

Such forward-looking information involves important risks and uncertainties
that could significantly affect actual results and cause them to differ
materially from expectations expressed herein and in other Company reports,
SEC filings, statements and presentations. These risks and uncertainties
include, among others: local, regional, national and international economic
conditions; fluctuating consumer demand and confidence; interest and
unemployment rates; changes in sales conditions, including home prices, in the
markets where we build homes; conditions in our newly entered markets and
newly acquired operations; the competitive environment in which we operate;
the availability and cost of land for future growth; conditions that could
result in inventory write-downs or write-downs associated with investments in
unconsolidated entities; the ability to recover our deferred tax assets; the
availability of capital; uncertainties in the capital and securities markets;
liquidity in the credit markets; changes in tax laws and their interpretation;
effects of governmental legislation and regulation; the outcome of various
legal proceedings; the availability of adequate insurance at reasonable cost;
the impact of construction defect, product liability and home warranty claims,
including the adequacy of self-insurance accruals, and the applicability and
sufficiency of our insurance coverage; the ability of customers to obtain
financing for the purchase of homes; the ability of home buyers to sell their
existing homes; the ability of the participants in various joint ventures to
honor their commitments; the availability and cost of labor and building and
construction materials; the cost of raw materials; construction delays;
domestic and international political events; and weather conditions. For a
more detailed discussion of these factors, see the information under the
captions "Risk Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" in our most recent annual report on Form
10-K and our subsequent quarterly reports on Form 10-Q filed with the
Securities and Exchange Commission.

Any or all of the forward-looking statements included in this release are not
guarantees of future performance and may turn out to be inaccurate.
Forward-looking statements speak only as of the date they are made. The
Company undertakes no obligation to publicly update any forward-looking
statements, whether as a result of new information, future events or
otherwise.

The photo is also available at Newscom, www.newscom.com, and via AP
PhotoExpress. 

CONTACT: Frederick N. Cooper, IR/Financial Media
         fcooper@tollbrothersinc.com (215) 938-8312
        
         Kira Sterling, General Media
         ksterling@tollbrothersinc.com (215) 938-8220

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