Douglas Yearley Jr.
Chairman and CEO at Toll Brothers
It’s not difficult to illustrate the reach of the development and ownership company that Douglas Yearley Jr. leads.
Recent Toll Brothers projects include the Ranch at Uptown Celina in the Dallas area. It opened in September, and features more than 450 single-family homes built around retail, green space and amenities such as a pool, a park and biking trails. The Montrose at Innisbrook opened the same month in Palm Harbor, Fla., with 174 townhouse sites centered around a golf course.
A recent sale, though, really drives home how big Toll Brothers has become. The company a few weeks ago sold its apartment platform to investment firm Kennedy Wilson for $347 million. The platform, Apartment Living, has $5 billion in assets under management, including numerous multifamily and student housing properties.
Yearley — who has been at Toll Brothers since 1990, including as CEO since 2010 and then chairman too since 2018 — said in a statement that the trade would allow the company “to focus on our core homebuilding business and continue our transformation to a more asset-light homebuilder.”
Revenue from home sales alone in the second quarter of 2025 totaled $2.71 billion, according to a Toll Brothers’ earnings report, well ahead of estimates and up annually 2 percent (despite a slowdown in home sales in general). Net income for the quarter was $352.4 million.
The 58-year-old Toll Brothers now operates in 24 states and 60-plus markets. The National Association of Home Builders last year ranked it the country’s fourth-largest homebuilder by factors such as units built, revenue and sales.
“Given the shortage of housing and favorable demographics, we continue to believe the long-term outlook for the new home market remains positive, particularly for our luxury niche,” Yearley said in the second-quarter report. “With our balanced operating platform, disciplined underwriting, financial strength and healthy cash flows, we are well positioned to adapt to changing market conditions and to continue delivering value to our stockholders.”
