HORSHAM, Pa., Nov. 1, 2012 (GLOBE NEWSWIRE) -- Toll Brothers, Inc., (NYSE:TOL) (www.tollbrothers.com), the nation's leading builder of luxury homes, today announced that it has been named 2012 Builder of the Year by Professional Builder magazine (www.housingzone.com). Having been named Builder of the Year in 1988, Toll Brothers becomes the first builder to win this coveted honor twice.
Douglas C. Yearley, chief executive officer, stated: "We are thrilled and honored to win this prestigious award. Since our founding in 1967, Toll Brothers has balanced prudent financial management with opportunistic growth, which has allowed us to successfully survive and flourish through five recessions. This strategy has positioned us to take advantage of current land and other growth opportunities. Compelling demographics in the upscale market coupled with pent-up demand and limited competition in our luxury niche give us a major advantage as the market recovers.
"Toll Brothers places the greatest importance on providing our buyers with exceptional customer service, quality and value and to offer them the most attractive communities in which to live: 95% of Toll Brothers customers would recommend our company to a friend. This speaks to the incredible diligence and commitment to excellence that the Toll Brothers team brings to our work each and every day."
Robert I. Toll, executive chairman, stated: "When we first won this award in 1988, we were a small, regional home builder focused almost entirely on providing homes for growing families in five Northeast and Mid-Atlantic States. Now, 24 years later, we are a national builder with a brand that reaches across 20 states and 50 U.S. markets. We have diversified our product lines to include single-family and attached move-up, empty-nester and active-adult homes, resort-style communities, high-density suburban communities and, through our City Living brand, mid- and high-rise towers in the metro New York City urban market and Philadelphia."
"Toll Brothers represents what is best about home building. They deliver quality homes and great overall value." notes Patrick O'Toole, Editorial Director and Publisher of Professional Builder magazine.
"Throughout the company's more than 45 years in business -- particularly during the recent period of tumult for housing -- Toll Brothers has been extremely foresighted in its business planning, its marketing, and its strong commitment to its home buyers."
"We are so honored to be recognized for this very prestigious award," said Kira Sterling, chief marketing officer. "It is a tribute to the tremendous hard work, dedication and integrity of our colleagues and associates at Toll Brothers."
For more than 75 years, Professional Builder magazine has remained dedicated to serving the needs of the nation's home building community — builders, designers and trade partners — with award-winning content and proven, practical solutions. Each month, Professional Builder is read by 107,000 leading decision makers in the home building market, 100 percent of whom have the authority to buy or specify building materials, products, and equipment. The editors of Professional Builder produce a number of industry recognition programs, including Builder of the Year, National Housing Quality Awards, and the Housing Giants rankings.
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 20 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, 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 home building industry: America's Best Builder, the National Housing Quality Award, and Builder of the Year for the second time. 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 the Met opera to neighborhoods throughout the world. For more information, visit TollBrothers.com.
Source:Toll Brothers, Inc.