Salamander Innisbrook, LLC: M&A transaction — Salamander Innisbrook sells 54 acres to Toll Brothers for $12.6M net proceeds

Salamander Innisbrook, LLC

Sold 54 acres along northern boundary of Resort to land banker for Toll Brothers for $12,565,887 net proceeds after closing costs.
Additional proceeds: 10% of sales proceeds exceeding $700,000 for single-family homes and $475,000 for townhomes.
Toll Brothers plans to build 122 single-family homes and 52 townhomes on the acquired land.
Sale closed on November 16, 2023; proceeds received in net cash of $12.6M.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Salamander Innisbrook, LLC completed a disposition involving TLB 174 – Palm Harbor, L.P., the land banker for Toll Southeast LP. Company, Inc. (“Toll Brothers”) for $12,565,887 (closed 2023-11-16).

Action: disposition
Counterparty: TLB 174 – Palm Harbor, L.P., the land banker for Toll Southeast LP. Company, Inc. (“Toll Brothers”)
Consideration: $12,565,887
Closing: 2023-11-16

Exact text from the filing

boundary of the Resort to TLB 174 – Palm Harbor, L.P., the land banker for Toll Southeast LP. Company, Inc. (“Toll Brothers”). The sale resulted in net proceeds to us of $12,565,887 after closing costs and related expenses. In addition, the Purchase and Sale Agreement provides for us to receive additional proceeds of 10% of any sales proceeds received by Toll

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Source: SEC EDGAR

accession 0000950170-23-065375

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