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Globe and Mail
2 days ago
- Business
- Globe and Mail
Toll Brothers Apartment Living® and Willton Investment Management Announce the Opening of Lumara, a New Luxury Apartment Community in Phoenix
PHOENIX, July 29, 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 Willton Investment Management, is pleased to announce the opening of Lumara, a new luxury apartment community in North Phoenix, Arizona. Lumara, which welcomed its first residents this past week, sets a new standard for refined desert living with modern apartment homes and resort-style amenities. The four-story community offers 456 apartment homes with a mix of one-, two-, and three-bedroom floor plans. Residences include gourmet kitchens with stainless steel appliances, quartz countertops, custom cabinetry, and spacious kitchen islands. Additional features include bathroom vanities with integrated LED lighting and smart home technology. Select residences feature built-in work-from-home spaces and private patios or balconies with desert views. 'We are thrilled to introduce Lumara to North Phoenix, marking our fourth multifamily community in Arizona,' said John McCullough, President of Toll Brothers Apartment Living. 'Lumara represents our commitment to delivering exceptional living experiences with thoughtful design and unparalleled amenities. This community offers a lifestyle of comfort, convenience, and connection and we are proud to be part of the exciting growth of the North Phoenix region.' Lumara's extensive amenity offerings include two resort-style pool decks with private cabanas, dual state-of-the-art fitness centers with yoga studios and on-demand fitness programming, a rooftop lounge with grills and firepits, and a sports lounge featuring an interactive simulator. Residents can also enjoy a clubroom with demonstration kitchen and private wine cellar, an Excursion Pub with a bar and gathering spaces, a coworking suite with individual and collaborative workspaces, a two-thirds-mile jogging trail, two dog parks and a pet spa, a maker space for creative pursuits, and various gaming lawns and outdoor lounge areas throughout the community. Additional conveniences include a package system with cold storage, rentable storage spaces, and a mini market. 'Lumara offers a unique blend of luxury and convenience, providing residents with a vibrant community in the heart of North Phoenix,' said Todd Bowden, Managing Director of Toll Brothers Apartment Living in the Southwest region. 'Its location near major employers and retail centers makes the community the ideal choice for those seeking a dynamic lifestyle.' Located at 25255 North 19 th Avenue, Lumara seamlessly connects residents to everyday adventures and the best of shopping, dining, and entertainment in North Phoenix. The community's location offers easy access to I-17, The Shops at Norterra, and Happy Valley Towne Center, as well as regional employers. Lumara is a short drive from downtown Phoenix, Scottsdale, and outdoor recreation, including the Sonoran Preserve and Lake Pleasant. Lumara is Toll Brothers Apartment Living's fourth multifamily community in Arizona after Navona in Mesa, which opened in 2024; Callia in Phoenix, which opened in 2022; and Haverly in Phoenix, which was sold in 2023. For more information about Lumara, visit 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 ABOUT TOLL BROTHERS Toll 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
Business Upturn
03-07-2025
- Business
- Business Upturn
Toll Brothers Apartment Living® and Gables Residential Announce Joint Venture to Develop 243-Unit Luxury Multifamily Community in Littleton, Colorado
FORT WASHINGTON, Pa., July 02, 2025 (GLOBE NEWSWIRE) — Toll Brothers, Inc. (NYSE: TOL) ( the nation's leading builder of luxury homes, through its Toll Brothers Apartment Living® rental division, and Gables Residential have announced a new joint venture to develop Gables Angeline, a four-story, 243-unit luxury multifamily rental community in Littleton, Colorado. The project is being financed through a $57 million construction loan facility from JPMorgan Chase. The equity and debt were arranged by Toll Brothers' in-house Finance Department. Gables Angeline will total 331,498 square feet and offer apartment homes with a mix of studio through three-bedroom floor plans. Each residence will feature designer finishes and thoughtfully appointed features, including quartz countertops, oversized closets, and private balconies or patios, along with optional private garages. The best-in-class amenity package will include a resort-style pool, a state-of-the-art fitness center with rock climbing wall, a community garden, a pet park with dog run, an outdoor pavilion, and a putting green. The community will also offer 1,200 square feet of retail space. 'We are thrilled to expand our national footprint with Gables Angeline, our first luxury multifamily community in Colorado,' said John McCullough, President of Toll Brothers Apartment Living. 'With its prime location, upscale design, and strong connectivity to major employment hubs and outdoor recreation, Gables Angeline will offer residents an unmatched living experience in the suburbs of Denver.' Located at 7900 S. Platte River Parkway in Littleton, Gables Angeline will be in proximity to downtown Denver and major employment campuses, including the Denver Tech Center, Children's Hospital Colorado, and Lockheed Martin. The community will be located within walking distance of the RTD Light Rail Littleton/Mineral Station and a half mile from access to C-470. Residents will enjoy nearby entertainment, shopping, and recreation destinations, including Aspen Grove, a popular open-air shopping center, and Chatfield State Park. 'We are excited to partner with Toll Brothers on our first joint project, Gables Angeline, in the Denver market,' said Charles Elliott, Chief Investment Officer for Gables Residential. 'Gables has been fortunate to have been in the Denver market since 2014, and to be able to continue to expand with a new partnership in this prime location is a great opportunity for both parties. We thrive on expanding our ability to bring our commitment to quality living experiences and exceptional service to new locations throughout Denver.' Gables Angeline is Toll Brothers Apartment Living's first development in Colorado. The community is adjacent to Toll Brothers' master planned community, ParkVue on the Platte, a gated for-sale community offering three collections of modern townhomes. To learn more about Gables Angeline, visit ABOUT TOLL BROTHERS Toll 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 From Fortune, ©2025 Fortune Media IP Limited. All rights reserved. Used under license. 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, and the design and 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 ABOUT GABLES RESIDENTIAL Gables Residential is an award-winning, vertically integrated, real estate company specializing in the development, construction, ownership, acquisition, financing, and management of multifamily and mixed-use communities. Gables Residential owns, develops, and manages communities in high-growth U.S. markets such as Atlanta, Austin, Boston, Dallas, Denver, Houston, Jacksonville, Orlando, Salt Lake City, Seattle, South Florida, Southern California, and metropolitan Washington, D.C. Gables also provides third party management services in the above markets as well as in Tampa and North Florida. Gables manages approximately 27,000 apartment homes and has received national recognition for excellence in development, construction, management, sales, marketing, training, and benefits. These achievements reflect the impact of Gables' experienced and dedicated team members, its superior knowledge of the markets served, and its expertise in development and management. For additional information about the company and its real estate portfolio and services, visit TOLL BROTHERS' FORWARD-LOOKING STATEMENTS This release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. One can identify these statements by the fact that they do not relate to matters of a strictly historical or factual nature and generally discuss or relate to future events. These statements contain words such as 'anticipate,' 'estimate,' 'expect,' 'project,' 'intend,' 'plan,' 'believe,' 'may,' 'can,' 'could,' 'might,' 'should,' 'likely,' 'will,' and other words or phrases of similar meaning. Such statements may include, but are not limited to, information and statements regarding: expectations regarding inflation and interest rates; the markets in which we operate or may operate; our strategic priorities; our land acquisition, land development and capital allocation priorities; market conditions; demand for our homes; our build-to-order and spec home strategy; anticipated operating results and guidance; home deliveries; financial resources and condition; changes in revenues; changes in profitability; changes in margins; changes in accounting treatment; cost of revenues, including expected labor and material costs; selling, general, and administrative expenses; interest expense; inventory write-downs; home warranty and construction defect claims; unrecognized tax benefits; anticipated tax refunds; sales paces and prices; effects of home buyer cancellations; growth and expansion; joint ventures in which we are involved; anticipated results from our investments in unconsolidated entities; our ability to acquire or dispose of land and pursue real estate opportunities; our ability to gain approvals and open new communities; our ability to market, construct and sell homes and properties; our ability to deliver homes from backlog; our ability to secure materials and subcontractors; our ability to produce the liquidity and capital necessary to conduct normal business operations or to expand and take advantage of opportunities; and the outcome of legal proceedings, investigations, and claims. Any or all of the forward-looking statements included in this release are not guarantees of future performance and may turn out to be inaccurate. This can occur as a result of incorrect assumptions or as a consequence of known or unknown risks and uncertainties. The major risks and uncertainties – and assumptions that are made – that affect our business and may cause actual results to differ from these forward-looking statements include, but are not limited to: the effect of general economic conditions, including employment rates, housing starts, inflation rates, interest and mortgage rates, availability of financing for home mortgages and strength of the U.S. dollar; market demand for our products, which is related to the strength of the various U.S. business segments and U.S. and international economic conditions; the availability of desirable and reasonably priced land and our ability to control, purchase, hold and develop such land; access to adequate capital on acceptable terms; geographic concentration of our operations; levels of competition; the price and availability of lumber, other raw materials, home components and labor; the effect of U.S. trade policies, including the imposition of tariffs and duties on home building products and retaliatory measures taken by other countries; the effects of weather and the risk of loss from earthquakes, volcanoes, fires, floods, droughts, windstorms, hurricanes, pest infestations and other natural disasters, and the risk of delays, reduced consumer demand, unavailability of insurance, and shortages and price increases in labor or materials associated with such natural disasters; risks arising from acts of war, terrorism or outbreaks of contagious diseases, such as Covid-19; federal and state tax policies; transportation costs; the effect of land use, environment and other governmental laws and regulations; legal proceedings or disputes and the adequacy of reserves; risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, indebtedness, financial condition, losses and future prospects; the effect of potential loss of key management personnel; changes in accounting principles; risks related to unauthorized access to our computer systems, theft of our and our homebuyers' confidential information or other forms of cyber-attack; and other factors described in 'Risk Factors' included in our Annual Report on Form 10-K for the year ended October 31, 2024 and in subsequent filings we make with the Securities and Exchange Commission ('SEC'). Many of the factors mentioned above or in other reports or public statements made by us will be important in determining our future performance. Consequently, actual results may differ materially from those that might be anticipated from our forward-looking statements. Forward-looking statements speak only as of the date they are made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise. For a further discussion of factors that we believe could cause actual results to differ materially from expected and historical results, see the information under the captions 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in our most recent Annual Report on Form 10-K filed with the SEC and in subsequent reports filed with the SEC. This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995, and all of our forward-looking statements are expressly qualified in their entirety by the cautionary statements contained or referenced in this section. A photo accompanying this announcement is available at Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Globe and Mail
02-07-2025
- Business
- Globe and Mail
Toll Brothers Apartment Living® and Gables Residential Announce Joint Venture to Develop 243-Unit Luxury Multifamily Community in Littleton, Colorado
FORT WASHINGTON, Pa., July 02, 2025 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE: TOL) ( the nation's leading builder of luxury homes, through its Toll Brothers Apartment Living ® rental division, and Gables Residential have announced a new joint venture to develop Gables Angeline, a four-story, 243-unit luxury multifamily rental community in Littleton, Colorado. The project is being financed through a $57 million construction loan facility from JPMorgan Chase. The equity and debt were arranged by Toll Brothers' in-house Finance Department. Gables Angeline will total 331,498 square feet and offer apartment homes with a mix of studio through three-bedroom floor plans. Each residence will feature designer finishes and thoughtfully appointed features, including quartz countertops, oversized closets, and private balconies or patios, along with optional private garages. The best-in-class amenity package will include a resort-style pool, a state-of-the-art fitness center with rock climbing wall, a community garden, a pet park with dog run, an outdoor pavilion, and a putting green. The community will also offer 1,200 square feet of retail space. 'We are thrilled to expand our national footprint with Gables Angeline, our first luxury multifamily community in Colorado,' said John McCullough, President of Toll Brothers Apartment Living. 'With its prime location, upscale design, and strong connectivity to major employment hubs and outdoor recreation, Gables Angeline will offer residents an unmatched living experience in the suburbs of Denver.' Located at 7900 S. Platte River Parkway in Littleton, Gables Angeline will be in proximity to downtown Denver and major employment campuses, including the Denver Tech Center, Children's Hospital Colorado, and Lockheed Martin. The community will be located within walking distance of the RTD Light Rail Littleton/Mineral Station and a half mile from access to C-470. Residents will enjoy nearby entertainment, shopping, and recreation destinations, including Aspen Grove, a popular open-air shopping center, and Chatfield State Park. 'We are excited to partner with Toll Brothers on our first joint project, Gables Angeline, in the Denver market,' said Charles Elliott, Chief Investment Officer for Gables Residential. 'Gables has been fortunate to have been in the Denver market since 2014, and to be able to continue to expand with a new partnership in this prime location is a great opportunity for both parties. We thrive on expanding our ability to bring our commitment to quality living experiences and exceptional service to new locations throughout Denver.' Gables Angeline is Toll Brothers Apartment Living's first development in Colorado. The community is adjacent to Toll Brothers' master planned community, ParkVue on the Platte, a gated for-sale community offering three collections of modern townhomes. To learn more about Gables Angeline, visit ABOUT TOLL BROTHERS Toll 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 From Fortune, ©2025 Fortune Media IP Limited. All rights reserved. Used under license. 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, and the design and 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 ABOUT GABLES RESIDENTIAL Gables Residential is an award-winning, vertically integrated, real estate company specializing in the development, construction, ownership, acquisition, financing, and management of multifamily and mixed-use communities. Gables Residential owns, develops, and manages communities in high-growth U.S. markets such as Atlanta, Austin, Boston, Dallas, Denver, Houston, Jacksonville, Orlando, Salt Lake City, Seattle, South Florida, Southern California, and metropolitan Washington, D.C. Gables also provides third party management services in the above markets as well as in Tampa and North Florida. Gables manages approximately 27,000 apartment homes and has received national recognition for excellence in development, construction, management, sales, marketing, training, and benefits. These achievements reflect the impact of Gables' experienced and dedicated team members, its superior knowledge of the markets served, and its expertise in development and management. For additional information about the company and its real estate portfolio and services, visit TOLL BROTHERS' FORWARD-LOOKING STATEMENTS This release contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. One can identify these statements by the fact that they do not relate to matters of a strictly historical or factual nature and generally discuss or relate to future events. These statements contain words such as 'anticipate,' 'estimate,' 'expect,' 'project,' 'intend,' 'plan,' 'believe,' 'may,' 'can,' 'could,' 'might,' 'should,' 'likely,' 'will,' and other words or phrases of similar meaning. Such statements may include, but are not limited to, information and statements regarding: expectations regarding inflation and interest rates; the markets in which we operate or may operate; our strategic priorities; our land acquisition, land development and capital allocation priorities; market conditions; demand for our homes; our build-to-order and spec home strategy; anticipated operating results and guidance; home deliveries; financial resources and condition; changes in revenues; changes in profitability; changes in margins; changes in accounting treatment; cost of revenues, including expected labor and material costs; selling, general, and administrative expenses; interest expense; inventory write-downs; home warranty and construction defect claims; unrecognized tax benefits; anticipated tax refunds; sales paces and prices; effects of home buyer cancellations; growth and expansion; joint ventures in which we are involved; anticipated results from our investments in unconsolidated entities; our ability to acquire or dispose of land and pursue real estate opportunities; our ability to gain approvals and open new communities; our ability to market, construct and sell homes and properties; our ability to deliver homes from backlog; our ability to secure materials and subcontractors; our ability to produce the liquidity and capital necessary to conduct normal business operations or to expand and take advantage of opportunities; and the outcome of legal proceedings, investigations, and claims. Any or all of the forward-looking statements included in this release are not guarantees of future performance and may turn out to be inaccurate. This can occur as a result of incorrect assumptions or as a consequence of known or unknown risks and uncertainties. The major risks and uncertainties – and assumptions that are made – that affect our business and may cause actual results to differ from these forward-looking statements include, but are not limited to: the effect of general economic conditions, including employment rates, housing starts, inflation rates, interest and mortgage rates, availability of financing for home mortgages and strength of the U.S. dollar; market demand for our products, which is related to the strength of the various U.S. business segments and U.S. and international economic conditions; the availability of desirable and reasonably priced land and our ability to control, purchase, hold and develop such land; access to adequate capital on acceptable terms; geographic concentration of our operations; levels of competition; the price and availability of lumber, other raw materials, home components and labor; the effect of U.S. trade policies, including the imposition of tariffs and duties on home building products and retaliatory measures taken by other countries; the effects of weather and the risk of loss from earthquakes, volcanoes, fires, floods, droughts, windstorms, hurricanes, pest infestations and other natural disasters, and the risk of delays, reduced consumer demand, unavailability of insurance, and shortages and price increases in labor or materials associated with such natural disasters; risks arising from acts of war, terrorism or outbreaks of contagious diseases, such as Covid-19; federal and state tax policies; transportation costs; the effect of land use, environment and other governmental laws and regulations; legal proceedings or disputes and the adequacy of reserves; risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, indebtedness, financial condition, losses and future prospects; the effect of potential loss of key management personnel; changes in accounting principles; risks related to unauthorized access to our computer systems, theft of our and our homebuyers' confidential information or other forms of cyber-attack; and other factors described in 'Risk Factors' included in our Annual Report on Form 10-K for the year ended October 31, 2024 and in subsequent filings we make with the Securities and Exchange Commission ('SEC'). Many of the factors mentioned above or in other reports or public statements made by us will be important in determining our future performance. Consequently, actual results may differ materially from those that might be anticipated from our forward-looking statements. Forward-looking statements speak only as of the date they are made. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise. For a further discussion of factors that we believe could cause actual results to differ materially from expected and historical results, see the information under the captions 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in our most recent Annual Report on Form 10-K filed with the SEC and in subsequent reports filed with the SEC. This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995, and all of our forward-looking statements are expressly qualified in their entirety by the cautionary statements contained or referenced in this section.
Daily Mail
20-06-2025
- Daily Mail
What drove a daughter, 36, to kill her parents and then hide their bodies in the family home for FOUR years - as her sister says: 'I understand why she did it, but I never want to see her again'
There is little to distinguish the Seventies three-storey property that stands on a corner of Pump Hill, in the Essex commuter village of Great Baddow. The metal shutters that, until recently, covered the entrance and garage, have been removed and the fake daffodils and stone hedgehog that once stood by the door have gone. A few weeks ago, house clearers arrived, emptying both home and garden. Yet, net curtains still hang limply at the windows where a small silver star - an overlooked Christmas decoration maybe - remains stuck to an upstairs pane of glass. It's the only enduring reminder of the family - and the horror - that once filled this home. Two of the most recent occupants are dead and the third, Virginia McCullough, is currently residing within the secure confines of HMP Downview, in Surrey. The crimes the bleached blonde, 37-year-old aspiring artist hid here - in her childhood home - are appalling and terrifying in equal measure, not simply because of what she did, but because they stand as ultimate proof that you really do never know what goes on behind closed doors. The truth about just what did go on here was revealed in September 2023, when the bodies of McCullough's parents, John and Lois, were found inside the property. They had been murdered and entombed – Lois, 71, in an upstairs wardrobe, sealed with tape and barricaded with breeze blocks and John, 70, in a makeshift mausoleum made from more blocks (Virginia bought 40 of them, along with sand and cement, at B&Q), in the downstairs study. She had, it transpired, been living with their bodies for four years, during which time she ploughed through tens of thousands of pounds of their savings, while tricking everyone into believing her parents were still alive, before their concerned GP finally raised the alarm. The extraordinary moment of her arrest was captured in police bodycam footage, released by Essex Police, after McCullough was jailed for life for murder - a crime she admitted - last October. The video, viewed hundreds of thousands of time online, is as chilling as it is macabre. 'Is there anything in the property that we should know about?' asks one officer, as McCullough is handcuffed in the hallway. 'Yes, there is,' she replies, calmly and chirpily. 'Shall I take you to it?' Her matter-of-fact manner never changes. 'Cheer up, at least you've caught the bad guy,' she quips. The Daily Mail has visited Great Baddow, where we spoke to neighbours and residents who remember 'Ginny', as she was known. We also spoke to her elder sister, Louise Hopkins - the only one of her four siblings to comment publicly on the tragedy - who provided a disturbing insight into a deeply troubled family, the full facts about whom may never be known. Of her parents, she said: 'They did their best, but things were bad from the beginning. They both had issues and they did not get the help they needed.' 'When one went down the other might be up. If they were both down then all hell broke loose. 'I grew up in that environment trying to read what was going to happen.' Louise, now a 49-year-old mother-of-three and a life coach living in Cambridgeshire, said she'd broken contact with her parents in 2018, a year before they were killed. While she did not want to go into detail about her childhood, Louise said: 'My mother, when she was young, got involved with an American cult. She was on her own in London and the cult got hold of her. She brought that home. 'You never knew [what] you were going to get. 'I left the family for that reason. My sister did what she did for the same reason.' Now, McCullough has spoken again, this time in a series of letters written from behind bars to the makers of a Paramount documentary, Confessions of a Parent Killer. McCullough's words are every bit as unnerving as her reaction when police knocked on her door that day. 'I knew I would be arrested one day and should be,' she writes. 'I knew I should be punished, which is why I did not try and run or leave. 'I was relieved in a huge way that the deception was over... so I told the police plenty of information to help the investigation and was trying to make things easier for them.' As a mea culpa it is eerily self-centred and dispassionate. But in truth, everything about the murders of John and Lois McCullough is strange. The murders will be analysed in a compelling new Daily Mail podcast called Trial+, to be released next week. So who were John and Lois McCullough? And what drove their youngest daughter to murder them? The couple were in their 30s by the time they married in Doncaster, in 1975 and had Louise, the first of five daughters. Over the next seven years, they had three more girls, before moving south, to Essex, where Ginny was born in 1987. John was a management consultant, turned business studies lecturer at Anglia Ruskin University - and also a heavy drinker. Lois, meanwhile, once worked as a secretary, but battled with anxiety, agoraphobia and obsessive-compulsive disorder. By the time of their deaths, only their youngest daughter Ginny - an aspiring artist - remained at the family home. Yet none of her sisters appeared to have made contact with the authorities when their parents disappeared in June 2019. We now know that McCullough, masquerading as her mother, texted the rest of the family, asking them to stay away, while neighbours were told the pensioners had moved to the seaside. It's McCullough herself, who tries to explain her actions, in 60-pages of disturbing, and neatly penned prose, sent to documentary producer, Charlie Wakefield - who was at school with her - before sentence. Her account, while to be treated with caution (she was labelled a 'compulsive liar' by family in court) nevertheless paints a picture of a deeply unhappy childhood. 'I knew as a child that I should not have been a part of that family,' she writes. 'My parents were too strict and cold.' She goes on to document being smacked for minor misdemeanours, and battling the humiliation of bed-wetting. 'At home my drinks were limited to three cups a day to try to prevent me wetting the bed,' she says. 'But when I was ten, I was still not dry at night. My dad took me to the chemist to get Huggies pull-ups and said, very loudly to embarrass me, 'You can carry them as they are yours'.' She describes being dirty and unkempt at school, being called 'Ginny Germs' by classmates and branded 'stupid' and 'useless' by her parents after a poor school report. As for her parents' problems, she says she was the 'buffer between my dad's drinking and mother's mental health'.' 'A number of months before the end, my mother was getting more and more emotionally cruel, telling me I was worthless and there was growing toxicity from my dad's drinking. 'Nighttime was my only respite, and even then I would cry and feel hopeless. 'I felt emotionally desperate and trapped. I got to a point where there was nothing that I wanted more than a normal quiet life at almost any cost.' We, of course, now know what that cost was. Det Supt Rob Kirby, of Essex Police, described McCullough, as an 'intelligent and adept manipulator' who perpetrated fraud and betrayal on a 'monumental' scale. Years before she killed them, she'd gained control of her parents' finances, and frittered away thousands on shopping and online gambling, which she covered up by telling them they'd been victims of fraud. By June 17, 2019, she was £60,000 in debt, so that night she enacted a plan she had been hatching for months - a plan she describes in harrowing details in her letters. She poisoned her parents' drink with a cocktail of prescription drugs. The following morning, she found her father dead in his bed. But, as she says in her letters, her mother, who slept separately from her husband, was still alive. 'One worked and one did not,' she writes, chillingly matter-of-fact. 'I'd given less drugs to my mother. 'I quietly went into the doorway and found her. As it turned out, she was in a deep sleep. I pulled the door back closed again and went to get gloves, a knife and a hammer. 'I went back in, and she was facing away from me. I hesitated, and then I carried out the act.' The act was appalling; McCullough hit her mother in the head with the hammer and stabbed her eight times with a knife. Defensive injuries contradict McCullough's account of her mother being in a deep sleep: the elderly woman had fought for her life. That same day, McCullough purchased sleeping bags, into which she placed her parents' bodies, wrapping them in layer upon layer of plastic and then constructing the makeshift tombs in which they would eventually be found. The next day, she posed as her mother to apply for a new credit card and PIN, which she would go on to use to buy clothes and jewellery. The subterfuge that followed was swift. That afternoon, she sent a text message from her mother's phone to one of her sisters. It read: 'Your dad and I are at the seaside in Walton this week. Mum x'. Later that night, there was another message: 'Good night. Mum. X' Over the ensuing months and years, McCullough sent numerous messages pretending to be her mother. She made phone calls to her siblings and to the GP, and to her father's pension provider. There were birthday cards, and postcards to neighbours filled with anecdotes about their life by the sea. Meanwhile, she plundered their bank accounts and pension payments, spending almost £150,000. To those on the outside - neighbours, shopkeepers, the postman - McCullough - with her peroxide hair and two-tone fingernails - was viewed either as an annoyance or an eccentric. She would stand outside for long periods sweeping away six or seven leaves, she would arrive unannounced at neighbours's homes with gifts – steak, doughnuts, or a takeaway. McCullough's own written account of that time, living with her terrible secret, is extraordinary, to say the least. 'I spent the first six months mostly indoors. I did not sleep upstairs, but in the lounge, on the couch,' she wrote. 'Having my parents in the house but without any mental abuse or drinking, I admit, in a strange way, was a silent comfort. 'I was just living normally and quietly... but it's all I wanted at the time I committed the crime.' She claims, to have only spent money on 'every day' things, insisting her gifts were because she was 'addicted' to the smile it would put on people's faces. Those the Mail have spoken to revealed there may be kernels of truth in what she says. 'Ginny did what she did, but deep down she was trying to prove she was not a bad person,' says one villager. 'She was trying to endear herself to people by giving them presents, so much so that she became a bloody nuisance. She went overboard. It was too much.' In Great Baddow, there remain very mixed emotions about the killer who lived among them. One friend says: 'When you boil it down, what Ginny did, you cannot condone. You do not go around killing people, least of all your parents, but you can understand why. It leaves a lot of unanswered questions. 'Something had to give. Maybe if she could have got the support from her family when she was growing up, maybe this whole wretched thing would not have happened.' Life in prison, however, seems to suit McCullough, and she says she's happier than she ever was on the outside. And she continues to profess her remorse. In her letters to the documentary makers, she writes: 'Not only do I think I deserved life without parole, but felt that even that was not punishment enough to ease my guilt or remorse, even mildly. 'I have made so many mistakes in my life through deception, secrecy and self-sabotage. The worst of all is the crime that I killed my parents.' Certainly McCullough's siblings and uncle would agree. At Chelmsford Crown Court, Richard Butcher, Lois's brother, who lives in India, said he had been manipulated into thinking his sister was alive and that the truth was still incomprehensible. 'Virginia is very dangerous. Her ability to kill her parents undermines my faith in humanity,' he said. Meanwhile, her other siblings released a statement, in which they said: 'Mum and Dad always enjoyed the time they spent with us. Family was their pride and joy. 'Our family has been left devastated and heartbroken at the deaths of our parents who were taken from us so cruelly.' Only McCullough's sister, Louise - who didn't attend court, nor even her parents' funerals - can begin to understand. She says of her youngest sibling: 'I think I know why she did it. I forgive her but I feel nothing for her. I do not want to see her. I will never see her.' Confessions of a Parent Killer is on Paramount+ now For more on this case, listen to a special interview with retired detective Paul Maleary, available now on the Mail's award-winning podcast The Trial+. To subscribe go to
Daily Mail
19-06-2025
- Daily Mail
The chilling letters from jail that reveal twisted motivation of aspiring artist who murdered her parents then lived with their bodies in her childhood home for FOUR years
There is little to distinguish the 1970s three-storey property that stands on a corner of Pump Hill, in the Essex commuter village of Great Baddow. The metal shutters that, until recently, covered the entrance and garage, have been removed and the fake daffodils and stone hedgehog that once stood by the door have gone. A few weeks ago house clearers arrived, emptying both home and garden. Yet, net curtains still hang limply at the windows where a small silver star – an overlooked Christmas decoration maybe – remains stuck to an upstairs pane of glass. It's the only enduring reminder of the family – and the horror – that once filled this home. Two of the most recent occupants are dead and the third, Virginia McCullough, is currently residing within the confines of HMP Downview, in Surrey. The crimes the bleached blonde, 37-year-old aspiring artist hid here – in her childhood home – are appalling and terrifying in equal measure, not simply because of what she did, but because they stand as ultimate proof that you really do never know what goes on behind closed doors. The truth about just what did go on here was revealed in September 2023, when the bodies of McCullough's parents, John and Lois, were found inside the property. They had been murdered and entombed – Lois, 71, in an upstairs wardrobe, sealed with tape and barricaded with breeze blocks; and John, 70, in a makeshift mausoleum made from more blocks (Virginia bought 40 of them, along with sand and cement, at B&Q), in the downstairs study. She had, it transpired, been living with their bodies for four years, during which time she ploughed through tens of thousands of pounds of their savings, while tricking everyone into believing her parents were still alive, before their concerned GP finally raised the alarm. The extraordinary moment of her arrest was captured in bodycam footage, released by Essex Police, after McCullough was jailed for life for murder – a crime she admitted – last October. The video, viewed hundreds of thousands of times online, is as chilling as it is macabre. 'Is there anything in the property that we should know about?' asks one officer, as McCullough is handcuffed in the hallway. 'Yes, there is,' she replies, calmly and chirpily. 'Shall I take you to it?' Her matter-of-fact manner never changes. 'Cheer up, at least you've caught the bad guy,' she quips. The Daily Mail has visited Great Baddow, where we spoke to neighbours and residents who remember 'Ginny', as she was known. We also spoke to her elder sister, Louise Hopkins – the only one of her four siblings to comment publicly on the tragedy – who provided a disturbing insight into a deeply troubled family, the full facts about whom may never be known. Of her parents, Louise said: 'They did their best, but things were bad from the beginning. They both had issues and they did not get the help they needed. When one went down, the other might be up. If they were both down, then all hell broke loose. 'I grew up in that environment trying to read what was going to happen.' Louise, now a 49-year-old mother-of-three and a life coach living in Cambridgeshire, said she'd broken contact with her parents in 2018, a year before they were killed. While she did not want to go into detail about her childhood, Louise said: 'My mother, when she was young, got involved with an American cult. She was on her own in London and the cult got hold of her. She brought that home. 'You never knew [what] you were going to get. I left the family for that reason. My sister did what she did for the same reason.' Now, Virginia McCullough has spoken again, this time in a series of letters written from behind bars to the makers of a Paramount documentary, Confessions of a Parent Killer. Her words are every bit as unnerving as her reaction when police knocked on her door. 'I knew I would be arrested one day and should be,' she writes. 'I knew I should be punished, which is why I did not try and run or leave. I was relieved in a huge way that the deception was over . . . so I told the police plenty of information to help the investigation and was trying to make things easier for them.' As a mea culpa it is eerily self-centred and dispassionate. But in truth, everything about the murders of John and Lois McCullough is strange. The crime will be analysed by former top Essex detective Paul Maleary in a compelling episode of the Daily Mail's award-winning The Trial+ podcast, out tomorrow (subscribe at So who were John and Lois McCullough? And what drove their youngest daughter to murder them? The couple were in their 30s by the time they married in Doncaster, in 1975 and had Louise, the first of five daughters. Over the next seven years, they had three more girls, before moving south, to Essex, where Ginny was born in 1987. John was a management consultant-turned-business studies lecturer at Anglia Ruskin University – and also a heavy drinker. Lois, meanwhile, once worked as a secretary, but battled with anxiety, agoraphobia and obsessive-compulsive disorder. By the time of their deaths, only their youngest daughter Ginny remained at the family home. Yet none of her sisters appeared to have raised the alarm when their parents disappeared in June 2019. We now know that McCullough, masquerading as her mother, texted the rest of the family, asking them to stay away, while neighbours were told the pensioners had moved to the seaside. It's McCullough herself who tries to explain her actions, in 60 pages of disturbing and neatly penned prose sent to documentary producer Charlie Wakefield – who was at school with her –before her sentence. Her account, which must be treated with caution (she was labelled a 'compulsive liar' by family in court), nevertheless paints a picture of a deeply unhappy childhood. 'I knew as a child that I should not have been a part of that family,' she writes. 'My parents were too strict and cold.' She goes on to document being smacked for minor misdemeanours, and battling the humiliation of bed-wetting. 'At home my drinks were limited to three cups a day to try to prevent me wetting the bed,' she says. 'But when I was ten, I was still not dry at night. My dad took me to the chemist to get Huggies pull-ups and said, very loudly to embarrass me: "You can carry them as they are yours." ' She describes being dirty and unkempt at school, being called 'Ginny Germs' by classmates and branded 'stupid' and 'useless' by her parents after a poor school report. As for her parents' problems, she says she was the 'buffer between my dad's drinking and mother's mental health'. 'A number of months before the end, my mother was getting more and more emotionally cruel, telling me I was worthless and there was growing toxicity from my dad's drinking. Night time was my only respite, and even then I would cry and feel hopeless. I felt emotionally desperate and trapped. I got to a point where there was nothing that I wanted more than a normal quiet life at almost any cost.' We, of course, now know what that cost was. Detective Superintendent Rob Kirby, of Essex Police, described McCullough as an 'intelligent and adept manipulator' who perpetrated fraud and betrayal on a 'monumental' scale. Years before she killed them, she'd gained control of her parents' finances, and frittered away thousands on shopping and online gambling, which she covered up by telling them they'd been victims of fraud. By June 17, 2019, she was £60,000 in debt, so that night she enacted a plan she had been hatching for months – a plan she describes in harrowing detail in her letters. She poisoned her parents' drinks with a cocktail of prescription drugs. The following morning, she found her father dead in his bed. But, as she says in her letters, her mother, who slept separately from her husband, was still alive. 'One worked and one did not,' she writes, chillingly matter-of-fact. 'I'd given less drugs to my mother. I quietly went into the doorway and found her. As it turned out, she was in a deep sleep. I pulled the door back closed again and went to get gloves, a knife and a hammer. 'I went back in, and she was facing away from me. I hesitated, and then I carried out the act.' The 'act' was appalling – McCullough hit her mother on the head with the hammer and stabbed her eight times with a knife. Defensive injuries contradict McCullough's account of her mother being asleep: the elderly woman fought for her life. That same day, McCullough purchased sleeping bags, into which she placed her parents' bodies, wrapping them in layer upon layer of plastic and then constructing the makeshift tombs in which they would eventually be found. The next day, she posed as her mother to apply for a new credit card and PIN, which she would use to buy clothes and jewellery. The subterfuge that followed was swift. That afternoon, she sent a text message from her mother's phone to one of her sisters. It read: 'Your dad and I are at the seaside in Walton this week. Mum x.' Later that night, there was another message: 'Good night. Mum. X.' Over the ensuing months and years, McCullough sent numerous messages pretending to be her mother. She made phone calls to her siblings, to the GP and to her father's pension provider. There were birthday cards, and postcards to neighbours filled with anecdotes about their life by the sea. Meanwhile, McCullough plundered her parents' bank accounts and pension payments, spending almost £150,000. To those on the outside – neighbours, shopkeepers, the postman – McCullough, with her peroxide hair and two-tone fingernails, was viewed either as an annoyance or an eccentric. She would stand outside for long periods sweeping away six or seven leaves; she would arrive unannounced at neighbours' homes with gifts – steak, doughnuts, or a takeaway. McCullough's own written account of that time, living with her terrible secret, is extraordinary, to say the least. 'I spent the first six months mostly indoors. I did not sleep upstairs, but in the lounge, on the couch,' she wrote. 'Having my parents in the house but without any mental abuse or drinking, I admit, in a strange way, was a silent comfort. 'I was just living normally and quietly . . . but it's all I wanted at the time I committed the crime.' She claims, to have spent money only on 'every day' things, insisting her gifts were because she was 'addicted' to the smile it would put on people's faces. Those the Mail have spoken to revealed there may be kernels of truth in that. 'Ginny did what she did, but deep down she was trying to prove she was not a bad person,' says one villager. 'She was trying to endear herself to people by giving them presents, so much so that she became a bloody nuisance. She went overboard. It was too much.' In Great Baddow, there remain mixed emotions about the killer who lived among them. One friend says: 'When you boil it down, what Ginny did, you cannot condone. You do not go around killing people, least of all your parents. But you can understand why. It leaves a lot of unanswered questions. 'Something had to give. Maybe if she could have got the support from her family when she was growing up, maybe this whole wretched thing wouldn't have happened.' Life in prison, however, seems to suit McCullough, and she says she's happier than she ever was on the outside. And she continues to profess her remorse. In her letters to the documentary makers, she writes: 'Not only do I think I deserved life without parole, but felt that even that was not punishment enough to ease my guilt or remorse, even mildly. 'I have made so many mistakes in my life through deception, secrecy and self-sabotage. The worst of all is the crime that I killed my parents.' Certainly McCullough's siblings and uncle would agree. At Chelmsford Crown Court, Richard Butcher, Lois's brother, who lives in India, said he had been manipulated into thinking his sister was alive and that the truth was still incomprehensible. 'Virginia is very dangerous,' he said. 'Her ability to kill her parents undermines my faith in humanity.' Meanwhile, her other siblings released a statement, in which they said: 'Mum and Dad always enjoyed the time they spent with us. Family was their pride and joy. Our family has been left devastated and heartbroken at the deaths of our parents who were taken from us so cruelly.' Only Louise – who didn't attend court, nor even her parents' funerals – can begin to understand. She says of her youngest sibling: 'I think I know why she did it. I forgive her, but I feel nothing for her. I do not want to see her. I will never see her.' Additional reporting: Stephanie Condron Confessions of a Parent Killer is on Paramount+ now
