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Monterey at Lakewood Ranch is a premier Toll Brothers community in Lakewood Ranch - 13 miles east of downtown Sarasota, Florida. The development is in 6 phases. Phase 1 is constructed and mostly sold, with over 80 sales to date. Phases 2 through 6 are scheduled to be built and sold between now and October 2032.
The development is built on land formerly owned by Lakepark Estates LLC. Toll Brothers purchased the land from Lakepark Estates LLC via a two-part purchase agreement. Under this agreement, Lakepark Estates LLC received a lump sum at the signing of the agreement, and subsequently shall receive 2.5% on the sale price of every home sold in the development.
Due to estate planning considerations, the owner of Lakepark Estates LLC wishes to sell the rights to the deferred purchase price cashflow of 2.5% of the home sales. The anticipated cumulative cashflow through 2032 is approximately $27.5M.
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