Toll Brothers, Inc.' Gibraltar Capital and Asset Management Completes Private Transaction To Acquire Real Estate Loan Portfolio

Gibraltar Capital and Asset Management, LLC (Gibraltar) (www.gibraltarcapital.net), a wholly owned subsidiary of Toll Brothers, Inc. announced the closing of another private transaction with a large financial institution. The transaction, which was completed on December 29, 2011, involved the purchase of 11 non-performing loans, the combined outstanding balance of which was approximately $51.4 million. The loans have an average balance of approximately $4.7 million, and are secured by commercial land and buildings located in Virginia, North Carolina, and South Carolina. Terms were not disclosed.