Taylor Morrison And Lennar Homes Acquire 465.6 Acres In Mascotte, Lake County For $10.6M
Lake County City Mascotte
$10,600,000
Building Size
—
Asset Type
Land
Closing
Aug 15, 2023
About this deal
AI
Taylor Morrison and Lennar Homes, through LT Langley LLC, have purchased 465.6 acres of land in Mascotte, Lake County for $10.6 million. The property is located in a desirable area outside Orlando, offering potential for development driven by demand and favorable pricing.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $10,600,000
- Address: Lake County City
- Market: Mascotte
- Acres: 465.6
The buyer named Taylor Morrison, along with Lennar Homes LLC represented by Stuart Miller, made the purchase. The seller was The Langley Limited Partnership LLLP. This transaction highlights the interest of homebuilders in affordable areas surrounding Orlando, where demand and pricing are favorable for development.
Players
Lake Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.50%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93