Toll Brothers Inc. (NYSE:TOL) has announced its acquisition of Buffington Homes of Arkansas for an undisclosed sum.
Founded in 2010, Buffington Homes is the largest luxury homebuilder in northwest Arkansas with nine communities that are either actively selling or coming soon to the market. serves primarily first-time and move-up home buyers with prices ranging from the $400,000s to over $1 million, and currently owns or controls over 1,500 lots in the northwest Arkansas market.
Buffington Homes’ senior leadership and all employees will join Toll Brothers. Founding partners and co-owners Clay Carlton and Mike Lamberth will focus on land acquisition and development, while Mike Buffington, co-owner and brother of late founder Thomas B. Buffington, is stepping away from the business to focus on his family.
“We are excited to be entering the vibrant and growing Fayetteville/Bentonville market, further expanding the geographic footprint of our luxury home building operations across the country,” said Karl K. Mistry, CEO of Toll Brothers. “Buffington Homes is the leading luxury home builder in this market with exceptional communities, strong financial performance, and a reputation for quality. We look forward to leveraging their team’s local expertise and strong land position in northwest Arkansas while adding value and scale to successfully grow the business into the future.”
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