The Philadelphia-area housing market continues to evolve, and two major local companies are making big changes in response. Fort Washington–based Toll Brothers and Wayne-based Radian Group have announced multi-million-dollar business transactions that reshape their operations and reflect broader real estate trends.

After reporting slower-than-expected housing sales this year, Toll Brothers chose to sell its profitable apartment development division and unbuilt properties for $347 million to California-based real estate investment firm Kennedy Wilson. The sale includes 18 apartment complexes, 29 development sites, and the transition of Toll Brothers’ Apartment Living developer staff. Kennedy Wilson will also manage 20 additional apartment and student-housing projects until another buyer is secured.

Meanwhile, Radian Group is making waves on the buying side. The mortgage insurance company has agreed to acquire Inigo Ltd., an insurance syndicate, for $1.7 billion. According to CEO Rick Thornberry, this “transformative” acquisition is expected to double Radian’s sales, even as new and existing home purchases — which typically drive mortgage insurance — have slowed.

These significant business moves show how local companies are adapting to a changing housing market. From development and construction shifts to mortgage insurance expansion, Philadelphia-area real estate continues to adjust in ways that affect both investors and homebuyers.

Source: Philadelphia Business Journal; 9/18/2025