[IMGCAP(2)]The two former Lennar execs are Tom Banks and JasonPerrin, co-founders and principals of Greencrossing Real EstateCos., who say that conditions now represent a limited-time windowof opportunity to buy distressed residential land. The brokeragefirm reporting the sales upswing is the Irvine-based Hoffman Co.,which says that land is changing hands in Southern California at afaster pace than anytime in the past three years.

[IMGCAP(3)]Banks and Perrin, who left Lennar in 2006 to starttheir own company, formerly led teams that helped Lennar Corp.acquire prime land holdings, attract joint venture capital and ridethe wave of the last residential real-estate boom in the InlandEmpire. Much of their work at Greencrossing to date has focused onconsulting to land owners and financial institutions to help themdig out from the housing collapse and position them for the future.Now they see properties beginning to move and feel the timing isright to re-enter the market.

[IMGCAP(4)]"Clearly there's enough evidence locally andnationally that the residential real estate market is at or nearthe bottom," Perrin says. He says that Greencrossing believes nowis the time to attract capital to be ready when the recoveryarrives.

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