Horsham-based Toll Brothers is continuing ts Southeast expansion by acquiring Atlanta-based urban developer, Thrive Residential, writes Sam Wood for The Philadelphia Inquirer.

This is the second Atlanta acquisition for Toll in the last 12 months. In May, the company paid $93 million for high-end communities’ developer Sharp Residential.

The terms of the latest deal have not been disclosed. The acquisition includes around 680 lots owned or controlled by Thrive in Atlanta and Nashville.

“Atlanta and Nashville are vibrant markets with favorable demographics and strong population growth,” said Douglas C. Yearley Jr., Toll’s CEO.

He added that the acquisition of Thrive, “which brings a diverse product offering to urban infill locations, complements our recent acquisitions of Sabal Homes in South Carolina and Sharp Residential in Atlanta, and enables us to continue the expansion of our operations in the dynamic Southeast.”

Toll has reported revenue of $7.08 billion last year on sales of more than 8,100 units.

The company’s stock has been on the rebound since October 2018 and is currently near an all-time high.

The rebound followed its expansion west of Mississippi, with the company gaining around half of its revenue from locations in California, Idaho, Nevada, and Arizona.

Read more about Toll Brothers at The Philadelphia Inquirer by clicking here.

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