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Toll Brothers Acquires 159 Acres Of Land In Malvern, Pennsylvania For $33M

Property Image
SOLD
$33,000,000

Pennsylvania

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Land
Sold 08/16/2023
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Property Image
SOLD

Toll Brothers Acquires 159 Acres Of Land In Malvern, Pennsylvania For $33M

272 Lapp Rd Malvern, PA 19355, USA

See Similar Deals
Land
Sold 08/16/2023
the dealplayerscompscontact
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Summary

PENNSYLVANIA
Asset Type:Land
Transaction Type:Sale

Toll Brothers has acquired 159 acres of land in Malvern, Pennsylvania for $33 million. The property, located at 272 Lapp Road, 278 Lapp Road, and 367 Old Morehall Road, is set to be the site of a new luxury townhome development named Anfield at Malvern. This development aims to address the tightening home inventory in the region and is slated to open for sale in spring 2024.

Summary of transaction details

  • Property Type: Land
  • Transaction Amount: $33,000,000
  • Address: 272 Lapp Road, 278 Lapp Road & 367 Old Morehall Road
  • Market: Malvern, Pennsylvania
  • Buyer: Douglas C. Yearley, jr. - Toll Brothers
  • Seller: Knickerbocker Lands LLC
  • Asset Size: 159 acres

Douglas C. Yearley, jr., the CEO of Toll Brothers, played a key role in this transaction. As the buyer, Toll Brothers plans to develop a 280-unit luxury townhome community on the newly acquired land. This project not only represents a significant investment for Toll Brothers but also aims to meet the demand for high-end housing in the area.

Players

Dj
Toll Brothers
Douglas C. Yearley, jr.
7 deals$151.9M volume
BUYER

Details

SOLD
IMAGE: Douglas C. Yearley, jr. DATE: 08/16/2023 ADDRESS: 272 Lapp Road, 278 Lapp Road & 367 Old Morehall Road MARKET: Malvern, Pennsylvania ASSET TYPE: Land ~ ACRES: 159 BUYER: Douglas C. Yearley, jr. - Toll Brothers SELLER: Knickerbocker Lands LLC SALE PRICE: $33,000,000 NOTE: Toll Brothers purchased 159 acres of land in Malvern for $33 million, where they plan to build a 280-unit luxury townhome development named Anfield at Malvern, set to open for sale in spring 2024. The development aims to address the tightening home inventory in the region.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,759,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$117,242.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$156,436.84
Annual Debt Service$1,877,242.03