Toll Brothers Apartment Living® in a Joint Venture with The Davis Companies Announces Opening of Riverworks, a New Luxury Rental Community in Phoenixville, PA

Second Upscale Apartment Community in the Philadelphia Area For the Luxury Home Builder’s Apartment Living Division

 HORSHAM, Pa. – June 1st, 2016 – Toll Brothers, Inc. (NYSE: TOL) (www.tollbrothers.com), the nation’s leading builder of luxury homes, through its Toll Brothers Apartment Living® subsidiary and its partner, The Davis Companies, (www.thedaviscompanies.com), investing on behalf of Davis Investment Ventures Fund II, a diversified $413 million value add real estate fund, announced today the opening and launch of leasing at Riverworks, a 349-unit luxury apartment community located on Main Street in Phoenixville, just outside of Philadelphia. Designed as a retreat within walking distance to dining, shopping, and recreation, Riverworks offers luxury apartments ranging from studios to 2-bedrooms. Riverworks is located along the French Creek and Schuylkill River and offers residents easy access to a host of outdoor recreation, as well as a pedestrian footbridge into downtown Phoenixville.

“We’re extremely excited to bring another luxury rental apartment community to the Philadelphia area, where both Toll Brothers Apartment Living and The Davis Companies could partner together,” said Charles Elliott, Managing Director of Toll Brothers Apartment Living. “We are thrilled with the opening of Riverworks as we continue our expansion in the Philadelphia market and within Toll Brothers Apartment Living.”

“We are proud to partner with Toll Brothers to deliver this prime luxury residential community offering residents an ideal mix of outdoor space and amenities in Phoenixville,” said Chris Chandor, Senior Vice President of Development and Asset Management at The Davis Companies. “We’ve created successful apartment communities up and down the East Coast and are excited to expand our portfolio into the Philadelphia area, where we’ve made a number of office investments, and especially to have the opportunity to partner with a premiere home building company like Toll Brothers.”

With a convenient location off Routes 29 and 23 near Route 422 and I-76, Riverworks is one of the region’s best locations to live, work and play. Situated just steps from downtown Phoenixville, Riverworks’ residents can easily enjoy the countless restaurants, breweries, and boutiques that line the main street. Additionally, the community is a short drive from King of Prussia, downtown Philadelphia, and many major employers in the region.

Riverworks offers an unprecedented array of resort-style, onsite amenities, including an outdoor pool with sundeck, outdoor fire pit, lounge, and grilling areas, residents’ lounge with fireplace and game room, fitness center featuring a rock climbing wall and Crossfit space, flex room, and more. Additionally, all residences at Riverworks have been designed for luxury living, with plank flooring, stainless-steel appliance packages, modern kitchens, washers and dryers in every home, USB charging stations, and exterior patios or balconies in select homes.

The Riverworks Leasing Center is located at 45 North Main Street, Phoenixville, PA.  Hours are Monday – Friday: 9am – 6pm, Saturday: 9am – 5pm and Sunday: 10am – 5pm.  Please call 484-652-8195 to schedule a tour to preview an apartment residence, or visit www.LiveRiverworks.com for more information.

 Riverworks is being developed in a joint venture between Toll Brothers Apartment Living and The Davis Companies.

 ABOUT TOLL BROTHERS APARTMENT LIVING®
Toll Brothers Apartment Living® is the apartment development division of Toll Brothers, Inc., the nation’s premier builder of luxury homes. Toll Brothers Apartment Living is bringing the same quality, value, and service familiar to luxury home buyers throughout the country to upscale rental communities in select markets, including Boston, Dallas, New York, Philadelphia, and Washington, DC. Toll Brothers Apartment Living communities combine the energy of vibrant locations with unparalleled amenities, resident services, design, and the expertise of the nation’s leading builder of luxury homes. In FORTUNE Magazine’s 2016 Survey of The World’s Most Admired Companies®* Toll Brothers was ranked #6 worldwide across ALL INDUSTRIES in Quality of Products/Services Offered after Apple, Walt Disney, Amazon, Alphabet, and Nordstrom, and before Netflix and Facebook. For more information on Toll Brothers Apartment Living and its other apartment communities, visit www.tollbrothersapartmentliving.com.

ABOUT THE DAVIS COMPANIES
Committed to excellence in both investment performance and operations, The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested $4 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex and contrarian opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet, including approximately 4,000 residential units, across the Eastern United States.

Contact:
John M. Piedrahita
Toll Brothers Apartment Living
jpiedrahita@tollbrothersinc.com
202.378.3302

Lauren Michaels
The Davis Companies
lmichaels@solomonmccown.com
617.933.5014