Lennar Corporation, one of the nation’s largest homebuilders, is expanding into North Florida through the acquisition of substantially all of the real estate assets of Classic American Homes, Inc. for an undisclosed purchase price paid in cash.
Classic American Homes delivered 46 homes in 2003 at an average sales price of $263,000 and as part of this purchase, Lennar will acquire a backlog of approximately 61 homes and approximately 400 homesites owned or controlled.
Lennar Corporation, founded in 1954, is headquartered in Miami and is one of the nation’s leading homebuilders. Under the Lennar Family of Builders banner, the company includes the following brand names: Lennar Homes, U.S. Home, Greystone Homes, Village Builders, Renaissance Homes, Orrin Thompson Homes, Lundgren Bros., Winncrest Homes, Patriot Homes, NuHome, Barry Andrews Homes, Concord Homes, Cambridge Homes, Coleman Homes and Rutenberg Homes.
The company’s active adult communities are primarily marketed under the Heritage and Greenbriar brand names.
Lennar’s Financial Services Division provides mortgage financing, title insurance, closing services and insurance agency services for both buyers of the Company’s homes and others. Its Strategic Technologies Division provides high-speed Internet access, cable television and alarm installation and monitoring services to residents of the Company’s communities and others.
Information on the company is at http://www.lennar.com.