A joint venture between Fort Washington-based Toll Brothers and an affiliate of The Carlyle Group has sold an apartment building outside of Boston for $131 million, writes Grant Welker for the Philadelphia Business Journal.
Pantzer Properties, a New York real estate investment firm, bought the 289-unit property located roughly 15 miles from downtown Boston. The deal closed on January 13.
Pantzer Properties owns several properties in the Philadelphia region, including The Point-branded apartment buildings in King of Prussia, Berwyn, Downingtown, Exton, and West Chester.
The sale follows Toll Brothers’ decision to exit the multifamily business. California real estate investment firm Kennedy Wilson agreed in September to pay more than $300 million for the homebuilder’s Apartment Living multifamily platform. This deal will see Kennedy Wilson take over the Apartment Living in-house development team and assume Toll Brothers’ stakes in a portfolio of properties that are either finished and under development.
Toll Brothers still maintains a Boston-area presence through communities in Hudson, Lynnfield, and Westford, as well as the Pinehills development in Plymouth. The homebuilder is also a partner in Lyra, a 34-story, 432-unit tower currently under development in Boston.
Read more about Toll Brothers and its sale of the Boston property in the Philadelphia Business Journal.
Editor’s Note: This post was originally published on MONTCO Today in January 2026.
