""Gibraltar Capital and Asset Management,"":http://www.gibraltarcapital.net/ a wholly-owned subsidiary of Horsham, Pennsylvania-based ""Toll Brothers, Inc.,"":http://www.tollbrothers.com/?cmpid=13wnsegoo7&gclid=CKzUjPT7wrUCFQYGnQodmmQApw recently acquired four new loan portfolios totaling more than $33 million.
[IMAGE] [COLUMN_BREAK]""These transactions reflect Gibraltar's continuing ability to generate alternative revenues for Toll Brothers and source new opportunities to acquire acquisition, development and construction (ADC), and commercial real estate assets,"" said Douglas C. Yearley, CEO of Toll Brothers.
The four transactions, which took place between November 2012 and February 2013, include loans secured by golf courses, retail shopping centers, and residential properties in Arizona, Florida, Georgia, Maryland, Massachusetts, and Pennsylvania.
Three of the four purchases are now wholly owned by Gibraltar, while the fourth was a joint purchase. All four transactions include companies with which Gibraltar has not been involved in the past.
Gibraltar Capital and Asset Management was formed in 2010 by Toll Brothers, Inc., to provide real estate acquisition and investment opportunities for the company. Toll Brothers is a luxury home builder which was founded in 1967.