Lennar Wraps Up $1.3B Fund Targeting US Real Estate
Law360 (June 11, 2019, 2:18 PM EDT) -- Homebuilder Lennar Corp. said Tuesday that its private investment subsidiary has clinched a $1.3 billion equity fund that will target real estate investments in the U.S., with an emphasis on multifamily communities across the country’s major metropolitan markets.
The fund, called Lennar Multifamily Venture II, or LMV II, will be managed by Lennar subsidiary LMC, according to a statement. It will seek to invest in so-called Class A multifamily communities in the top 25 U.S. metropolitan markets, which includes areas in states like New York, Arizona, Maryland, Florida, Texas and Washington, among others.
Lennar itself has agreed to contribute $381 million...
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