Builder Profile: Lennar Corporation – Coast to Coast Affordable Luxury

Since 1954, Lennar Corporation has built affordable, move-up, and retirement homes primarily under the Lennar brand name. The company’s operations include financial services as well. Homes are located in more than 30 markets from California to Virginia, and the builder is dedicated to its core values of quality and integrity.

The value a Lennar home brings is evident in its Everything’s Included® approach. This approach allows homebuyers to include all the “bells and whistles” to their homes—finishes and add-on features—at the best possible value. From the countertops, up to the ceiling and back down to the floor, Lennar homes include thousands of dollars in luxury features at a price that was previously unattainable in the home buying process.

“… we continue to believe that the housing market remains strong and will continue to gradually improve for the foreseeable future.”
—Stuart Miller, CEO, Lennar

Recently, Lennar announced their acquisition of WCI Communities, Inc., a premier lifestyle community developer and luxury homebuilder of single- and multi-family homes, for approximately $643 million.

Richard Beckwitt, President of Lennar, said, “Through our extensive due diligence process, we have identified many areas where we believe significant synergies will be realized, and we anticipate a very smooth transition for current WCI homebuyers. We are looking forward to working with the talented associates from WCI to enhance our homebuilding operations and ancillary businesses to maximize the opportunities from our combined leading market position in Florida.”

Stuart Miller, Chief Executive Officer of Lennar, said in a press release, “We are very excited to complete the acquisition of this outstanding company. We’d like to extend a warm welcome to the WCI associates who will be joining the Lennar family.”

Miller continued, “… we continue to believe that the housing market remains strong and will continue to gradually improve for the foreseeable future. And finally, we believe our stock is undervalued given our strong core business and the maturity of our ancillary businesses.”

The builder also recently started selling homes at a 575 single-family home development in Parkland, Fla. Homes at the development, called Cascata at MiraLago, are priced from the low $500,000s to the $900,000s.

As Lennar looks ahead, the company will continue to work diligently to be properly positioned for the future.

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