Luxury home builder Toll Brothers announced an acquisition today that marks its first entry into the Seattle market.
Toll said it has agreed to acquire CamWest Development, one of the largest privately held home building companies in the Pacific Northwest, for an undisclosed cash sum.
CamWest develops luxury single-family homes, condos and townhomes in the Seattle metropolitan area as well as in King and Snohomish counties.
The average CamWest home sells for $500,000. The company anticipates delivering 180 homes in 2011, producing revenues of $90 million.
Rivals PulteGroup and DR Horton also build homes in the Seattle area.
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