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Toll Brothers Apartment Living® and CrossHarbor Capital Partners Announce the Grand Opening of Vermeer, a New Luxury Apartment Community in Washington, D.C.

1. Toll Brothers opens Vermeer, a luxury apartment in D.C.'s Buzzard Point. 2. Vermeer features 501 apartments and 37,000 sq ft of retail space. 3. Construction was funded with a $162.7 million loan; began in 2022. 4. Luxury apartments include smart home features and premium finishes. 5. Vermeer enhances urban living with amenities and proximity to local attractions.

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FAQ

Why Bullish?

The introduction of Vermeer could increase rental revenue and brand visibility. Historical projects have shown similar positive effects, boosting TOL's market performance.

How important is it?

The opening of Vermeer aligns with TOL's growth strategy in urban markets, enhancing future opportunities and brand strength.

Why Long Term?

The sustained success of Vermeer can contribute to TOL's rental portfolio expansion and diversification, indicating long-term profitability.

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WASHINGTON, May 14, 2025 (GLOBE NEWSWIRE) -- Toll Brothers Apartment Living®, the rental subsidiary of Toll Brothers, Inc. (NYSE: TOL), the nation's leading builder of luxury homes, in partnership with CrossHarbor Capital Partners, announces the grand opening of Vermeer, a 13-story luxury apartment community in Washington, D.C.’s Buzzard Point neighborhood. Located at 113 Potomac Avenue SW, Vermeer offers 501 thoughtfully designed residences and approximately 37,000 square feet of ground-floor retail space. Construction was financed with a $162.7 million construction loan facility from Bank OZK and began in late 2022. Vermeer welcomed its first residents in December 2024 and celebrated its grand opening in early May with project partners, residents, and guests. “Vermeer reflects our vision for modern urban living: an elevated residential experience that complements the energy and evolution of Buzzard Point,” said John McCullough, President of Toll Brothers Apartment Living. “With its sophisticated design, extensive amenities, and unbeatable views of Washington, D.C. and the riverfront, this community delivers the style, substance, and walkability that today’s urban renter demands.” Designed by KTGY, Vermeer features a mix of one-, two-, and three-bedroom apartment homes. Each residence is replete with premium finishes, including quartz countertops with tile backsplashes, stainless steel appliances, modern flat-panel cabinetry, oversized closets with built-in storage, and smart home features including app-enabled keyless entry and smart thermostats. Select residences also offer private balconies or terraces with sweeping views of Washington, D.C. including Audi Field and the Potomac and Anacostia Rivers. The community amenities are curated to enhance residents' lifestyles, featuring a rooftop pool with expansive sundeck, a fitness center and hydration bar, multiple elevated courtyards with firepits and grilling stations, and a game lounge with billiards and a poker table. Additional amenities include a grand lobby with concierge, a private dining room, multiple coworking spaces, and a pet spa. Throughout the community, residents can enjoy views of Washington, D.C., including near 360-degree views from the rooftop of the Capitol Building, Audi Field, Nationals Park, the Anacostia and Potomac Rivers, and the Frederick Douglass Memorial Bridge. “Vermeer’s refined design, paired with its exceptional location adjacent to Audi Field, makes the community an unparalleled destination in this rapidly growing neighborhood,” said Michael Skena, Managing Director of Toll Brothers Apartment Living in the Mid-Atlantic region. “From its dynamic street-level retail to its rooftop amenities, Vermeer offers residents the rare opportunity to live where elevated urban living and convenience intersect.” Vermeer provides residents with easy access to the Capitol Riverfront, with walkability to Audi Field, Nationals Park, The Wharf, and the Navy Yard-Ballpark Metro station. The community’s first retail tenant, a 19,000+ square-foot Gold’s Gym location, is set to open this fall. Vermeer is Toll Brothers Apartment Living’s fourth multifamily community in Washington, D.C., and second mixed-use development in the District after Union Place in the NoMa neighborhood. For more information about Vermeer, visit LiveVermeer.com. 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 2024, Toll Brothers Apartment Living was named to the National Multifamily Housing Council’s Top 25 Largest Developers list, the fifth year it has been so recognized. The firm has completed over 10,000 units nationally, with more than 18,000 units in production. For more information visit TollBrothersApartmentLiving.com. ABOUT TOLL BROTHERSToll Brothers, Inc., a Fortune 500 Company, is the nation's leading builder of luxury homes. The Company was founded 58 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, Indiana, 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 has been one of Fortune magazine’s World's Most Admired Companies™ for 10+ years in a row, and in 2024 the Company’s Chairman and CEO Douglas C. Yearley, Jr. was named one of 25 Top CEOs by Barron’s magazine. 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. From Fortune, ©2025 Fortune Media IP Limited. All rights reserved. Used under license. Contact: Andrea Meck | Toll Brothers, Senior Director, Public Relations & Social Media | 215-938-8169 | ameck@tollbrothers.com Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/cdce56ab-92b5-4e43-a8c1-e29320c48b58 https://www.globenewswire.com/NewsRoom/AttachmentNg/29e8d7f8-e8ca-4190-890a-b7de1151bc7c https://www.globenewswire.com/NewsRoom/AttachmentNg/01dfc45f-a5db-42c0-8c4b-75035f347a44 Sent by Toll Brothers via Regional Globe Newswire (TOLL-REG)

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