Toll Brother Purchases Lincoln Woods Apartments in Lafayette Hill

BET Investments, Inc., founded by Bruce Toll, purchased Lincoln Woods Apartments in Lafayette Hill last week for just over $25 million.

The 216-unit garden-style complex, built in 1991 and located on the 9000 block of Germantown Pike, is the fifth property purchased by the Horsham-based BET in the past six months, according to the Philadelphia Business Journal.

The company now owns 2,500 apartment units throughout Southeast Pennsylvania.

According to another Philadephia Business Journal article, Toll its looking to “acquire existing apartment complexes that need a little work, invest in exterior and interior upgrades and hold the properties for the long term.”

“We want to buy a lot more and we’re focusing on Philadelphia,” Toll told Natalie Kostelni of the business news outlet.

According to the BET Investments website, the group also has properties in Arizona, Florida, Georgia, Texas, New York, Indiana, and Maryland, among others.