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Exterior of single-family home A CalAtlantic Group property. The company delivered 14,602 single-family homes last year.

MIAMI—Lennar Corp.’s merger with CalAtlantic Group became effective at 11:59 pm on Monday, creating the nation’s largest homebuilder by revenue. The $9.3-billion deal, including the assumption of $3.6 billion of debt, was first announced this past October and was approved nearly unanimously by stockholders in both companies.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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