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Luxury home builder Toll Brothers has expanded into the Orlando, Fla., market with the purchase of Landstar Homes' Central Florida division, the company announced last week.
The purchase price of the cash-transaction was not disclosed.
Toll Brothers entered the Florida market in 1995 and reports it has sold more than $1.7 billion of homes in the state. Toll Brothers currently builds on the southwest coast in Lee and Collier Counties; the southeast coast in Martin and Palm Beach Counties; and on the northeast coast in Jacksonville and St. Augustine.
Toll Brothers' flagship communities in Florida include Frenchman's Reserve in the Palm Beach area, Mizner Country Club in the Boca Raton area, and Naples Lakes Country Club in Naples, each of which has its own Arnold Palmer Signature Golf Course.
Landstar Homes is one of the largest privately held home builders in Florida. The company designs, constructs, markets and sells a variety of homes throughout the Orlando metropolitan area. Its homes typically sell from the mid $200,000s to over $500,000. The company was established in 1978 and has delivered more than 15,000 homes in Central Florida since then.
The assets acquired by Toll Brothers include approximately 2,500 lots in Central Florida that Landstar owns or controls.
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