Lennar

File:Lennarheadquarters.jpg

Lennar headquarters in Miami

Lennar Corporation (NYSE: LEN) is a Fortune 200 company based in Miami, Florida, United States. It was founded in 1954.

Lennar is one of the United States' largest homebuilders, constructing homes in 18 different states throughout the United States, including Florida, Texas, Arizona, California, South Carolina, North Carolina, Virginia, Maryland, New Jersey, New York, Delaware, Massachusetts, Pennsylvania, Illinois, Minnesota, Nevada, Alabama and Colorado.

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Lennar began in 1954 as F&R Builders, co-founded by Gene Fisher and Arnold Rosen.

In 1956, Leonard Miller joined F&R by investing $10,000 and replacing Gene as Arnold’s partner. Through Leonard’s guidance and Arnold’s attention to construction, our hallmark traits of Quality, Value and Integrity were born.

In 1970, Lennar became a public Company under the corporate banner of Lennar, a combination of Leonard’s and Arnold’s names.

Through the years, Lennar has grown to a disciplined and spirited team of Associates who have fine-tuned the art of identifying and capturing opportunities to grow and become an Even Better Company. The result is a long proven track record of strategically timed and impeccably executed expansions into new markets.

Lennar now builds homes in some of the most desirable cities and states to live in all across America, and has now become one of the most respected homebuilders in the nation.

1954 • F&R Builders is formed in Miami, Florida.

1956 • Leonard Miller invests $10,000 and becomes co-owner of F&R Builders.

1969 • F&R’s equity base reaches $1 million.

1971 • Leonard Miller and Arnold Rosen change the F&R name to Lennar, and the Company goes public with an initial offering of $8.7 million.

1972 • Lennar is listed on the New York Stock Exchange.

1977 • Lennar enters Arizona market with acquisition of Womack Development Corp. and MasterKraft Homes. • Co-founder Arnold Rosen retires, continues to serve as a Director. 1981 • In response to S&L crisis, Lennar forms Universal American Mortgage Company.

1982 • Lennar expands into Fort Myers, Florida, by acquiring Royal Homes. • Lennar’s equity base reaches $100 million. • Arizona Division introduces “The Little Red Hen” poem.

1984 • Lennar expands in Palm Beach, Florida by acquiring H. Miller & Sons.

1985 • Lennar forms Universal Title Insurors.

1986 • Lennar acquires DCA Homes throughout Florida.

1989 • Lennar acquires Richmond American Homes in Orlando and Tampa. • Lennar creates “Everything’s Included” concept in Palm Beach.

1991 • Lennar enters the Texas market. • Lennar expands mortgage services into California.

1992 • Lennar acquires $1 billion Amerifirst real estate portfolio in joint venture with Morgan Stanley. • Lennar introduces the Super Home.

1993 • Lennar acquires $2 billion Westinghouse loan portfolio in joint venture with Lehman Brothers.

1994 • First recitation of “The Little Red Hen” poem from memory, at Sales Managers meetings in Fort Lauderdale. • Lennar’s equity base tops $500 million, and revenues exceed $800 million.

1995 • Lennar acquires Village Builders and Friendswood Development Company in Houston, Texas from Exxon. • Enters recovering California markets with acquisition of Bramalea. • Opens Sarasota, Florida Division and an Active Adult Division in Orlando. • Lennar Financial Services (LFS) grows to $3.4 billion servicing portfolio.

1996 • Revenues break through $1 billion level to $1.2 billion. • Equity base reaches $695 million. • Lennar bolsters California presence with acquisition of Renaissance Homes, Coto de Caza, Stevenson Ranch and 2,800 homesites in Huntington Beach. • Acquires $420 million real estate portfolio in partnership with Morgan Stanley. • Acquires Regency Title in Houston.

1997 • Lennar and Pacific Greystone merger. • Lennar further strengthens California presence by acquiring West Venture Homes, 2,700 homesites in North Natomas Community and 800 homesites in San Diego. • Revenues top $1.7 billion.

1998 • Lennar acquires North American Title Company, Winncrest Homes, ColRich Communities and Polygon.

1999 • Lennar acquires Southwest Land Title and Eagle Home Mortgage.

2000 • U.S. Home joins Lennar, doubling the size of the Company.

2002 • Lennar acquires Patriot Homes and Barry Andrews Homes in Baltimore, as well as Don Galloway Homes and Sunstar Communities in the Carolinas. • Lennar acquires The Genesee Company and Cambridge Homes, strengthening our Arizona, California and Colorado markets. • Lennar acquires Summit Homes and Concord Homes, marking the Company’s entry into the Chicago market.

2003 • Lennar acquires Coleman Homes in Bakersfield, California. • Lennar acquires Newhall Land and Farming Company in North Los Angeles County, through a Joint Venture with LNR Property Corporation.

2004 • Lennar enters San Antonio, Texas market with the acquisition of Connell-Barron Homes. • Lennar expands into Jacksonville, Florida, with the acquisition of Classic American Homes.

2005 • Lennar expands its presence in Nevada with the acquisition of Barker Coleman Homes. • Lennar enters the Northeast through an Urban Redevelopment Acquisition, consisting of a Joint Venture with Roseland Properties along the Hudson River waterfront facing mid-town Manhattan and in the greater Boston area. • Lennar’s stock is added to the S&P 500 Market Index.

2006 • More than 20 of Lennar’s homebuilding brands change their name to Lennar.

2007 • Lennar introduces new brand identity – creating one unified image across the nation – and launches enhanced website, inviting Customers to experience the Logic of Lennar.

External links

• Lennar Corporation official web site