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Toll Brothers Apartment Living® and PGIM Real Estate Announce the Grand Opening of The Lindley, a Luxury High-Rise Community in San Diego

1. Toll Brothers opened The Lindley, a luxury high-rise in San Diego. 2. First residents moved in November 2024; grand opening was on March 13, 2025. 3. The project enhances Toll's luxury rental community offerings in prime locations. 4. The Lindley features high-end finishes and sustainable building practices. 5. Toll Brothers continues to expand its presence in the multifamily housing market.

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Why Bullish?

The grand opening signifies successful market entry and diversification, likely enhancing revenue. Similar projects in prime locations historically boosted stock performance due to increased demand.

How important is it?

The article highlights significant corporate developments and strategic expansion that directly affect TOL's performance in the luxury rental market.

Why Long Term?

The establishment of The Lindley could create sustainable cash flows over years, solidifying TOL's market position. Long-term benefits stem from real estate appreciation and rental income stability.

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SAN DIEGO, March 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, and joint venture partner PGIM Real Estate are pleased to announce the grand opening of The Lindley, a new 37-story high-rise apartment community in the heart of San Diego’s vibrant Little Italy neighborhood. The community was financed with a construction loan facility from BNY Mellon and Wells Fargo and construction began in 2022. The Lindley welcomed its first residents in November 2024, offering an unparalleled living experience with high-end finishes, premium amenities, and breathtaking views. The Lindley’s grand opening event took place yesterday, March 13, 2025, including a ribbon cutting with development partners as well as a reception for current and future residents. “The Lindley represents our continued commitment to developing luxury rental communities in the most sought-after locations,” said John McCullough, President of Toll Brothers Apartment Living. “We are thrilled to introduce this exceptional new high-rise to San Diego, providing modern renters with a living experience that blends contemporary design, upscale amenities, and easy accessibility to the best the city has to offer.” Located at 1331 Columbia Street in San Diego, California, The Lindley features an elevated collection of studio, one-bedroom, and two-bedroom apartment homes, as well as penthouses. Each residence is designed with premium features, including floor-to-ceiling windows with designer roller shades, custom cabinetry with undermount lighting, quartz countertops, stainless steel appliances, oversized closets with custom organizers, and smart home technology, including smart thermostats and keyless entry. All residences include a private balcony, many with expansive views of San Diego Bay and the downtown skyline. “The Lindley sets a new standard in the San Diego market, with its best-in-class amenities, stunning views, and prime location in Little Italy,” said Michael McCann, Managing Director of Toll Brothers Apartment Living in the West region. “These luxury offerings, paired with proximity to the city’s top dining and cultural attractions, help residents at The Lindley craft their unique cosmopolitan lifestyle.” Residents can enjoy resort-inspired amenities, including a resort-style pool and spa with cabanas; a sky lounge with a grand piano and an outdoor deck with a bar and patio seating; a billiards and card room with a wine bar; a coworking suite with private and shared spaces; a pet spa and outdoor pet park; and a concierge. The Lindley also offers a collection of wellness-focused amenities, including a state-of-the-art indoor/outdoor fitness center with a refreshment bar, a cold plunge, a sauna, private massage rooms, and studios for yoga, Pilates, and meditation. The community is LEED Gold Certified and offers options for environmentally friendly commutes, including electric vehicle charging stations and access-controlled bike storage. Situated in San Diego’s Little Italy neighborhood, The Lindley is steps from award-winning restaurants, waterfront parks, boutique shopping, and major employment hubs. Its pedestrian-friendly location provides an urban oasis with easy access to downtown, the Gaslamp Quarter, and the scenic Embarcadero. The Lindley also offers 10,565 square feet of ground-floor retail space, further enhancing the neighborhood offerings. The Lindley is Toll Brothers Apartment Living’s first multifamily community in San Diego and third in California, after Rafferty in Santa Ana and Cameo in Orange, which was sold in 2021. For more information about The Lindley, visit livethelindley.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/c133216d-6931-4429-a5e1-c08abfd1665d https://www.globenewswire.com/NewsRoom/AttachmentNg/5e2b84b9-2c20-4882-91c1-4fa2d95a4ce2 https://www.globenewswire.com/NewsRoom/AttachmentNg/ad8de1ca-edfd-4b81-a515-ed9dd60cef4b Sent by Toll Brothers via Regional Globe Newswire (TOLL-REG)

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