Toll Brothers Acquires 159 Acres Of Land In Malvern, Pennsylvania For $33M
272 Lapp Rd Malvern, PA 19355, USA
$33,000,000
Building Size
—
Asset Type
Land
Closing
Aug 16, 2023
AI
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.
Goldendale Land Market Snapshot
Boundary boundary · Land · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93