The Horsham PA based luxury home builder Toll Brothers Inc, has announced the formation of Gibraltar Capital and Asset Management LLC. The group's formation is aimed at acquiring distressed real estate and other wise investments that present themselves. This could be a brilliant move for Toll Brothers as they try and capitalize on the nations foreclosure epidemic. There is a lot of inventory out there of foreclosed homes that certainly serve no purpose sitting vacant.
According to DSNews.com, Gibraltar Capital will be led by Roger Brush and Michael LaPat. Collectively the two executives have been with Toll Brothers for 27 years.
Do you think that it would be a good business move for Toll Brothers to enter into the distressed property market? Is this a sign that home builders do not a sign of recovery in the housing market?
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