Toll Brothers Names John A. McCullough President of its Toll Brothers Apartment Living® Multifamily Division

FORT WASHINGTON, Pa., July 06, 2023 (GLOBE NEWSWIRE) -- (NYSE: TOL), the nation's leading builder of luxury homes, is pleased to announce John A. McCullough has been promoted to President of , the company's multifamily division. In this role, McCullough is responsible for leading all acquisitions, development, branding, marketing, and operations across the company’s Toll Brothers Apartment Living and Toll Brothers Campus Living portfolios nationwide.

With more than two decades of real estate development and investment experience, McCullough's leadership will enhance the company's commitment to exceptional living experiences, quality, and design. He will collaborate closely with the Toll Brothers team to expand Toll Brothers Apartment Living’s nationwide footprint, forge strategic partnerships, drive profitability, and help solidify its position as a leader in the multifamily industry.

Commenting on the appointment, Douglas C. Yearley, Jr., Chairman and Chief Executive Officer of Toll Brothers, expressed his enthusiasm, stating, "We are thrilled to elevate John McCullough to his new role as President of Toll Brothers Apartment Living. His long tenure with Toll Brothers, along with his extensive industry knowledge, proven leadership, and strong focus on delivering exceptional results, align perfectly with our company's core values. We are confident that under John's guidance, Toll Brothers Apartment Living will continue to flourish."

McCullough remarked, "I am honored and excited to take on my new role at Toll Brothers as the President of our multifamily division. I am proud to work with the remarkably talented people in Toll Brothers Apartment Living and drive the development of our exceptional luxury communities that elevate the apartment living experience."

Previously, McCullough served as Senior Vice President and Managing Director of Toll Brothers Apartment Living from its inception in 2012 until his promotion to President in 2023. McCullough joined Toll Brothers in 2006 and spent his first six years as Assistant Vice President for in New York City, where he was responsible for the development operations of several mixed-use, multi-phase condo developments. His responsibilities included overseeing project design, construction, marketing, and sales. During his tenure, he played an instrumental role in the development of more than 2,000 for-sale residential units, including Maxwell Place on the Hudson and The Hudson Tea Buildings in Hoboken, New Jersey.

Before joining Toll Brothers, McCullough worked for Tishman Speyer Properties, overseeing the operations of Class A mixed-use assets in New York, including Rockefeller Center. McCullough holds a Bachelor of Science degree in Economics from the United States Naval Academy, a Master’s in Business Administration from Boston University Graduate School of Management, and a Graduate Certificate in Real Estate from New York University.

ABOUT TOLL BROTHERS APARTMENT LIVING®

Toll Brothers Apartment Living is the apartment development division of Toll Brothers, Inc. (NYSE: TOL), an award-winning Fortune 500 company, and the nation's leading builder of luxury homes. Toll Brothers Apartment Living brings the same quality, luxury, and service for which Toll Brothers is known to its exceptional rental and mixed-use communities in select markets, including Atlanta, Boston, Dallas, Los Angeles, New York, Philadelphia, Phoenix, and Washington, DC. Toll Brothers Apartment Living communities combine the energy of vibrant locations with unparalleled amenities, resident services, design, and the expertise of America’s Luxury Home Builder®. In 2023, NMHC ranked Toll Brothers Apartment Living the 6th largest apartment developer in the United States. The firm has developed nearly 8,900 units, has more than 5,000 units under management, and controls a national pipeline of more than 17,500 units.

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ABOUT TOLL BROTHERS

Toll Brothers, Inc., a Fortune 500 Company, is the nation's leading builder of luxury homes. The Company was founded 56 years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, and second-home buyers, as well as urban and suburban renters. Toll Brothers builds in over 60 markets in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia. The Company operates its own architectural, engineering, mortgage, title, land development, smart home technology, and landscape subsidiaries. The Company also develops master-planned and golf course communities as well as operates its own lumber distribution, house component assembly, and manufacturing operations.

Toll Brothers was named the #1 Home Builder in Fortune magazine’s 2023 survey of the World’s Most Admired Companies®, the eighth year it has been so honored. Toll Brothers has also been named Builder of the Year by Builder magazine and is the first two-time recipient of Builder of the Year from Professional Builder magazine. For more information visit TollBrothers.com.

Toll Brothers discloses information about its business and financial performance and other matters, and provides links to its securities filings, notices of investor events, and earnings and other news releases, on the Investor Relations section of its website ().

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Press Contact:

Andrew L. Gagliano

Toll Brothers Apartment Living



(202) 808-2489

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