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US: Luxury homebuilder expands in California

By  |  November 7, 2013

One of the largest builders of luxury homes in the nation announced Thursday it has entered into an agreement to acquire Shapell Homes.

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    Toll Brothers’ buyout of the smaller competitor will expand the company throughout California, according to a press release. The acquisition was inked at about $1.6 billion.

    Toll Brothers will gain Shapell’s land portfolio, expanding the company’s ownership in affluence coastal markets.

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