Price tag grows on Toll Brothers’ sale to Kennedy Wilson

Group 1 - Kennedy Wilson announced the acquisition of the Toll Brothers Apartment Living platform for $347 million, which includes an in-house development team and interests in completed properties and assets under development [3] - The acquisition also involves managing 20 apartment and student housing properties with over $3 billion in assets under management, as Toll Brothers plans to exit the apartment business [4] - The deal is expected to create a mutually beneficial pipeline of shared deal flow between Kennedy Wilson and Toll Brothers, with both companies referring housing opportunities to each other [5] Group 2 - The sale price of the Toll Brothers Apartment Living platform has increased to $380 million due to ongoing investments, and the closing of the deal has been delayed to the first quarter of 2026 [7] - Toll Brothers reported earnings of $4.58 per diluted share for the quarter, which was slightly below guidance due to the delayed closing of the sale [7] - Following the announcement of the delayed closing, Toll Brothers' stock fell by 4.8% in after-hours trading [7]