The Real Deal Miami

Toll Brothers buys community with Chinese drywall

November 22, 2010 09:54AM

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Toll Brothers has purchased the Parkland Golf & Country Club from
WCI Communities for $53 million, a transaction that includes 25 unsold
homes with defective Chinese drywall. “We’re very positive on the state
of Florida for the future,” said Ed Weber, regional president for Toll
Brothers. “The community was built with a very nice attention to detail,
and we see it as a perfect fit for the type of homes we like to build.”
The company paid $37 million for the community, while assuming $16
million in debt. When finished, the development will have 820 homes. [Miami
Herald]

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