Fort Washington’s Toll Brothers is expanding its national footprint with a new acquisition, marking the first major move under recently appointed CEO Karl Mistry, writes Paul Schwedelson for The Philadelphia Business Journal.
The luxury homebuilder has agreed to acquire Buffington Homes, a leading builder in northwest Arkansas. The deal brings nine active or upcoming communities and more than 1,500 controlled home sites into Toll Brothers’ portfolio. It also fills a geographic gap between its existing markets in the South.
The acquisition positions the Toll Brothers in one of the fastest-growing regions in the country. The Fayetteville-Springdale-Rogers metro area has seen significant population growth in recent years, driven in part by major employers like Walmart.
Buffington Homes was founded in 2010 and focuses on first-time and move-up buyers. Homes typically run between $400,000 and $1 million. Its leadership team will remain in place, helping guide future development efforts.
The move marks Toll Brothers’ 16th homebuilder acquisition since 1995 and comes on the heels of a record-setting fiscal year, with $10.8 billion in home sales revenue.
To learn more about the Fort Washington company’s acquisition, visit The Philadelphia Business Journal.
