Luxury home builder Toll Brothers has formed Gibraltar Capital and Asset Management, which will be a wholly owned subsidiary of Toll Brothers.
The new unit was created to pursue a broad array of real estate acquisition and investment opportunities, according to the release from the company.
"We are excited to launch Gibraltar Capital at a time when we believe there are many potential investments arising from the distress in the real estate industry," said Douglas Yearley, Jr., Toll Brothers' CEO. "We intend to leverage Toll Brothers' relationships, nationwide presence and well-known brand name, as well as our capital access, land acquisition and development strength and experience in distressed acquisitions and workouts, to pursue opportunities that have synergies with, but may fall outside, our core home building operations"
He added that these opportunities could include the acquisition and disposition of loan and property portfolios as well as the site development for sale to other builders.
They will also provide assistance to banks and developers in the workout of troubled real estate and a range of other potential investments where the firm's capabilities and capital access can add value, Yearly added.