Toll Brothers Acquires 27-Acre Mobile Home Park In Cary For $26.7M

A mobile home park with a total area of 27 acres has been sold at 607 Cedar Street in Cary, NC. The sale was completed for a price of $26,700,000. The property is an asset type classified as a mobile home park, which is set for future development plans by the buyer.

Summary of transaction details:

• Property Type: Mobile Home
• Transaction Amount: $26,700,000
• Address: 607 Cedar Street
• Market: Cary, NC
• Acres: 27
• Buyer: Toll Brothers

Toll Brothers intends to develop 407 residential units on the property, comprising 330 multifamily apartments and 97 townhomes. Site work is projected to commence in early 2027, indicating a significant investment in the region's residential infrastructure.