Headquartered in Toronto, Canada, Monarch has consistently been recognized in the homebuilding industry and by its customers for superior quality and outstanding customer satisfaction for nearly 100 years. Monarch operates in Ontario where the Company builds and develops single-family detached and attached homes in Toronto and Ottawa and builds high-rise condominiums in the Greater Toronto Area. Monarch serves a wide segment of homebuyers through its innovative product mix that emphasizes exceptional style, design, quality and livability. Monarch, combined with its U.S. affiliate, Taylor Morrison, is the largest North American privately-owned homebuilder as reported by Hanley Wood based on 2011 revenues. Headquartered in Scottsdale, Arizona, Taylor Morrison is a builder and developer of single-family detached and attached homes and operates in Arizona, California, Colorado, Florida and Texas.