Lennar Closes Multifamily Venture at $2.2B

Malden Station in Fullerton, CA, among the apartment projects that Lennar’s LMC subsidiary has in the works across the US.

MIAMI—Lennar Corp.’s wholly owned subsidiary LMC has received an additional $250-million commitment to its Lennar Multifamily Venture, capping fundraising for the long-term multifamily development investment vehicle at $2.2 billion. Launched in July 2015, the venture is developing class A apartment communities in 25 target markets across the US

While best known for single-family residential, Lennar has been among the nation’s most active apartment developers since launching LMC five years ago. LMC currently has approximately 13,300 apartment homes in 45 communities operating or under construction, with a total development pipeline that exceeds $7 billion and over 23,000 apartments. The LMC operation builds high-rise, mid-rise, and garden apartment communities.