Lennar Targets $2 Billion for Major Single-Family Rental Push
- Largest U.S. homebuilder to develop thousands of properties
- Company looks to ride rental boom with home prices surging
Photographer: Bing Guan/Bloomberg
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The U.S. homebuilder Lennar Corp. is making a big push into single-family rentals, targeting a new set of customers at a time when surging prices threaten to push homeownership out of reach for many.
The Miami-based company is laying the groundwork to develop thousands of rental houses, according to people with knowledge of the matter. The firm is seeking to raise $2 billion for the initiative, said one of the people, who asked not to be named because the matter is private.