Pursuits
Lennar Forms $1.1 Billion Venture for Apartment Projects
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Lennar Corp., the largest U.S. homebuilder by market value, formed a $1.1 billion joint venture that will develop apartment communities in 25 U.S. metropolitan markets.
Lennar, a Miami-based builder primarily focused on single-family home construction, will invest $504 million in the venture and provide 19 undeveloped assets it already owns or are under contract, the company said in a statement Wednesday. Lennar is working with global sovereign and institutional investors.