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Toll Brothers buys builder with operations in Nashville, Atlanta

|About: Toll Brothers, Inc. (TOL)|By: , SA News Editor

Toll Brothers (NYSE:TOL) acquires Thrive Residential, a company that specializes in building communities in urban in-fill neighborhoods in Nashville and Atlanta.

Thrive builds mid- to high-end residences at price points from the high $300Ks to over $1M.

As a result of the acquisition, Toll Brothers acquired certain homebuilding assets from Thrive, including ~680 lots owned or controlled throughout Atlanta and Nashville. The purchase is expected to add 10 selling communities by the end of FY 2020.

Terms of the deal weren't disclosed.