Charles Brecker Charles Brecker

MIAMI—Lennar agreed to buy WCI Communities in September for a whopping $643 million. WCI will ultimately become a newly-formed Lennar subsidiary.

The transaction combines two of the largest homebuilders in Florida. For the past 60 years, WCI has developed master planned communities catering to move-up, active adult and second-home buyers. In the latest 12 months ended June 30, 2016, WCI delivered 1,118 homes with an average sales price of $444,000.

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