Atlanta was the largest single-family home market where Toll Brothers did not operate, but not anymore.
The Pennsylvania-based builder announced it acquired Sharp Residential, a company founded in 1991 by Tom Sharp that focused on Atlanta’s northern suburbs with homes for first time and luxury buyers at price points ranging from $300,000 to below $1 million. Toll Brothers does operate apartment communities in metro Atlanta but has not previously built single-family dwellings.
According to the Atlanta Business Chronicle, Sharp held approximately $65 million in backlog, consisting of 125 homes with an average price of $520,000. The deal increases Toll Brother’s land holdings in the Atlanta area to about 900 lots owned and controlled.