Lennar Multifamily Venture Reflects Strength in Leadership

Lennar Multifamily Venture Reflects Strength in Leadership

Understanding the long-term strategy of an organization can play a key role in employee engagement and satisfaction. In fact, in order to thrive as an employee, the employee must have confidence in the leadership of the firm for whom they work.

This understanding and confidence leads to higher engagement and loyalty from workers across the board. Lennar is now fully-funded to develop and own multifamily communities across the nation, “Lennar Multifamily Venture” (LMV), which is a long-term venture that is coming to fruition.

Securing capital from investors for this venture solidifies the confidence placed with Lennar and their ability to develop these multifamily communities in 25 markets throughout the United States. Rick Beckwitt, President of Lennar Corporation, said, “The success of the LMV capital raise demonstrates the confidence venture investors have placed in LMC and our new build to core strategy that will allow us to maintain an ownership interest in a portfolio of income producing communities going forward. We continue to see growing demand in housing, both in our core homebuilding business as well as our multifamily platform. This venture is a key building block for one of our growing ancillary businesses.”

Information about Lennar

Lennar Corporation, founded in 1954, is one of the nation’s largest builders of quality homes for all generations. The Company builds affordable, move-up and retirement homes primarily under the Lennar brand name. Lennar’s Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of the Company’s homes and others. Lennar’s Rialto segment is a vertically integrated asset management platform focused on investing throughout the commercial real estate capital structure. Lennar’s Multifamily segment is a nationwide developer of high-quality multifamily rental properties. Previous press releases and further information about the Company may be obtained at the “Investor Relations” section of the Company’s website, www.lennar.com.