Lennar Corporation (NYSE:LEN) was founded in 1954 and is headquartered in Miami, Florida. It has 10,106 full-time employees. It is one of the three largest real estate companies in the United States. The remaining two are Pardy (PulteGroup) and Horton (DR Horton).
Lennar Corporation is a home construction and real estate company headquartered in Miami, Florida. Lennar was listed in New York in 1971 and currently operates in 21 states in the eastern, central, and western United States. Rena Real Estate Corporation is one of the top three real estate companies in the United States and the top three housing construction developers in the United States. After acquiring CalAtlantic Homes, the company became the largest housing construction company in the United States in 2017.
As of 2019, Leiner Real Estate is ranked 154th in the Fortune 500. The company operates in 21 states and owns Rialto Capital Management, the originator of six private equity funds that invest in real estate, and the originator of commercial mortgage loans for securitization.
Lenner Real Estate is the only company that has been awarded as the Outstanding Builder of the Year by professional builder magazines three times, and has won several national architectural design awards. It is the nation’s top 20 retired community building developers.
Lena Real Estate also developed and retained ownership of 53 apartment communities. The name Lennar is a synthesis of the names of the company’s two founders, Leonard Miller and Arnold Rosen.
American Lenner Real Estate Company History:
- In 1954, Gene Fisher and Arnold Rosen founded F&R Builders;
- Subsequently, Leonard Miller invested $10,000 to replace Gene Fisher;
- In 1970, F&R Builders officially changed its name to Lennar Corp;
- In 1971, Lennar Corp made its first public offering ;
- In 1972, Lennar entered the Arizona market and began to become a national company;
- In 1984, Lennar established Universal American Mortgage Company to provide housing mortgage loan services. So far, Lennar has 6 real estate financial service institutions responsible for different real estate financial service businesses: housing mortgage loan issuance and management; real estate financial insurance services; communication and security monitoring technical services, while providing property security services; real estate and property insurance Services; provide loans in Pacific Northwest; designated securities intermediary business;
- In 1997, Leonard Miller founded LNR Real Estate Management Company, which manages more than 90 living communities, 12 shopping centers, approximately 25 office buildings, 5 industrial estates, 9 hotels, and more than 2.2 million square feet of industrial area;
- From 1996 to 2003, Lennar acquired 19 companies, of which the merger of US Home in 2000 doubled the size of the company;
- In 2001, the company built more than 500,000 houses;
- In 2003, Lennar’s sales exceeded $8.9 billion;
- From 2007 to 2008, under the influence of the subprime mortgage crisis, Lennar’s revenue fell by more than 60% and suffered a serious loss; from 2006 to the third quarter of 2008, the company’s total loss reached 2.4 billion US dollars;
- In 2008, the company surpassed Sundax to become the second largest real estate company in the United States;
- In February 2018, the company acquired CalAtlantic Homes. This $9.3 billion merger makes the company the largest home builder in the United States. Through this acquisition, Lennar Corporation will control more than 250,000 sites nationwide;
- In May 2018, Lennar announced that Amazon ‘s Alexa will be included in the 35,000 new houses built this year.