(Reuters) - Toll Brothers Inc (TOL) said it will buy the home building business of privately owned Shapell Industries Inc for about $1.60 billion in cash, in a deal that will give the largest U.S. luxury homebuilder more access to affluent real estate markets in California. Earlier this week, Tri Pointe Homes Inc (TPH.N) said it would buy Weyerhaeuser Co's (WY) homebuilding division in a $2.7 billion deal that will give it access to developed land in key markets such as California and Texas.
said it will buy the home building business of privately owned Shapell Industries Inc for about $1.60 billion in cash, in a deal that will give the largest U.S. luxury homebuilder more access to affluent real estate markets in California. homebuilding division in a $2.7 billion deal that will give it access to developed land in key markets such as California and Texas. Toll Brothers will acquire Shapell's land portfolio, which consists of about 5,200 home sites, most of which are entitled, the company said in a statement late on Wednesday.
Richard Suttmeier submits: In addition to my proposal for a rigorous stress test for community banks seeking bailout money, I also propose a new program to assist banks in clearing their balance sheets of non-performing assets. Greed among community and regional banks on Main Street resulted in a vast quantity of distressed C&D and CRE loans on the books of community banks.
NEW YORK (Reuters) - Luxury homebuilder Toll Brothers Inc will launch an investment fund to buy up distressed real estate assets, including loan portfolios and land for development, the company said on Monday.
Earlier today we reported that the nearly two year long scramble by Wall Street asset managers to gobble up distressed and other properties, most often subsidized by the government using various REO-to-Rental funding structures, with the intention of renting them out and in the process generating a 15%+ annual ROI, is now officially dead in such former hotspots as California where America's biggest landlord, private equity firm Blackstone, reported that its purchases in California are down a staggerin
Toll Brothers Inc (TOL) reported financial results for the third quarter of its 2014 fiscal year (3QFY14), which were ahead of analysts' expectations. But the company lowering its guidance coupled with comments regarding pricing pressure sent the stock down, along with the rest of the players in the industry.
By Soha Group:Toll Brothers (TOL) and its homebuilder peers have been notable stock market laggards in 2013, but I am bullish on Toll Brothers going into 2014. Toll Brothers' stock price had a big run coming into 2013 and some good news was already priced-in. For Toll Brothers, 2013 started on a good note, but hit a snag mid-year as interest rates spiked and drove up mortgage rates. As a result, home-buyers turned more cautious.