Fort Washington-based Toll Brothers is continuing its national expansion with the acquisition of StoryBook Homes, a privately-held Las Vegas homebuilder, writes Jeff Blumenthal for the Philadelphia Business Journal.
The luxury home builder stated that this deal bolsters its “strong market position in the dynamic Las Vegas housing market.”
StoryBook was founded in 2003 and has since built more than 1,700 homes on The Strip.
The company focuses primarily on first-time and move-up homebuyers, with home prices ranging from the mid-$200,000s to more than $600,000.
The company has five active selling communities at this time and owns or controls more than 550 lots in the market.
According to Toll Brothers, all employees of the acquired homebuilder will stay with the company and continue to operate home communities under the StoryBook brand.
President of StoryBook Jenet Love will take on the role of division president of StoryBook Homes, a new division of Toll Brothers.
“This acquisition presents an exciting opportunity to quickly add to our already fast-growing Las Vegas operations, while further diversifying our new home offerings and price points in the market,” said Toll Brothers Nevada Group President Gary Mayo.
Read more about Toll Brothers and the acquisition in the Philadelphia Business Journal.