Homebuilder Lennar Proposes $4 Billion Spinoff of Land Holdings
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Lennar Corp., one of the biggest US homebuilders, says it is considering a $4 billion spinoff of land it holds.
The proposal would be a way to have a consistent source of funding as the company moves to a “land light” construction model, Executive Chairman Stuart Miller said on a call with analysts Thursday. It also would help Lennar shift from relying on private equity to fund lot production.