Horsham-Based Toll Brothers Buys Atlanta Company

HORSHAM, PA — Horsham-based Toll Brothers has purchased another home-building company headquartered in Atlanta.

Toll Brothers announced the acquisition of Thrive Residential, which specializes in building communities in urban "in-fill" neighborhoods in Nashville and Atlanta.

It was founded in 2006 by Chris Rudd and Kirstin Hobday and has built more than 1,000 homes, mostly at price points from the high $300,000s to more than $1 million.

As part of the purchase, Toll Brothers acquired 680 lots owned or controlled throughout Atlanta and Nashville.

"Atlanta and Nashville are vibrant housing markets with favorable demographics and strong population growth," said Douglas C. Yearley, Jr., chairman and CEO of Toll Brothers. "As we continue to execute on our strategy of broadening our range of geographies, product lines and price points, we are thrilled to have the Thrive team join the Toll Brothers family."

The purchase comes after Toll Brothers' recent buy-outs of Sabal Homes in South Carolina and Sharp Residential in Atlanta, marking a big expansion in the Southeast.

"We are excited to join Toll Brothers' luxury brand and financial resources," said Thrive co-founder Chris Rudd. "We look forward to working with the Toll Brothers team on expanding our in-fill platform in Nashville and Atlanta."

A Fortune 500 company, Toll Brothers was founded in 1967 and became a publicly traded company in 1986. It now operates in 24 states.