Lennar Corporation, together with its subsidiaries, engages in the homebuilding activities in the United States. As of November 30, 2015, the company had grouped its homebuilding activities into five segments: Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida, and Homebuilding Houston. The company’s other segments are Lennar Financial Services, Rialto and Lennar Multifamily. Homebuilding Operations The company’s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development and sale of residential land directly and through unconsolidated entities in which the company has investments. The company primarily sells single-family attached and detached homes in communities targeted to first-time, move-up and active adult homebuyers. The company operates primarily under the Lennar brand name. As of November 30, 2015, the company owned 125,914 homesites and had access through option contracts to an additional 39,949 homesites, of which 33,491 homesites were through option contracts with third parties and 6,458 homesites were through option contracts with unconsolidated entities in which the company has investments. Construction and Development: The company engages in all phases of planning and building in its residential communities, including land acquisition, site planning, preparation and improvement of land and design, construction and marketing of homes. The company uses independent subcontractors for various aspects of home construction. As of November 30, 2015, the company was actively building and marketing homes in 665 communities, including 3 communities being constructed by unconsolidated entities. Marketing: The company offers a line of homes for first-time, move-up, active adult and multi-generational homebuyers in various locations ranging from urban infill communities to suburban golf course communities. The company sells its homes primarily from models that the company has designed and constructed. Deliveries: The company primarily sells single-family attached and detached homes in communities targeted to first-time, move-up and active adult homebuyers. As of November 30, 2015, the company had 34 Lennar Homebuilding unconsolidated joint ventures, in which the company was participating. Ancillary Businesses The company has ancillary business activities that are related to its homebuilding business. FivePoint Communities: In 2011, the company transferred the management of various large properties in California to FivePoint Communities Management, Inc., a consolidated joint venture. FivePoint Communities Management, Inc. is undertaking six master planned mixed-use developments, three in Southern California and three in or near San Francisco. These developments are planned for a total of 50,000 homesites and 20 million square feet of commercial space, as well as parks and sports and entertainment venues. Sunstreet: The company’s solar business is focused on providing homeowners in California, Colorado, Maryland, Nevada and Texas through its solar purchase or lease programs, a solar system that generates much of a home's annual expected energy needs. Strategy Key elements of the company’s strategy include focusing on distinguishing its products, including through its Everything’s Included approach, which improves its purchasing power to include luxury features as standard items in its homes; and innovating the homes that the company builds to create products that meet its customers' needs. Lennar Financial Services Operations Mortgage Financing The company primarily offers conforming conventional, FHA-insured and VA-guaranteed residential mortgage loan products and other products to buyers of its homes and others through its financial services subsidiary, Universal American Mortgage Company, LLC, which includes Universal American Mortgage Company, LLC (doing business as Eagle Home Mortgage) from locations in most of the states in which the company has homebuilding operations, as well as some other states. During 2015, the company originated approxim
lennar corp-a (LNN:Frankfurt)
700 Northwest 107th Avenue
Miami, FL 33172
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