Lennar Corp: A Diversified Construction Company

Lennar Corporation is one of the largest companies in the United States that thrive in the industry of construction. The main focus of the company is in the creation of single-family attached and detached homes. Headquartered in Miami, Florida, where the company was founded, Lennar started out F&R Builder in 1954.

Starting out as a single-family homebuilder, the company today has grown into a diversified construction company. Through its financial arm, Rialto Capital Managements, the business offers and manages funds that invest in real estate properties. In addition, this segment also offers closing services, mortgage financing and title insurance. The main business is engaged in the creation of residential housing. Through its LNR Property Corporation business arm, they also venture into the commercial segment of construction. Among its notable projects include Mountain Crest in North Metro Atlanta and Coto de Caza, California. These projects are ranked among the wealthiest communities in the country. Lennar Corporation also invested a huge chunk of its resources on closed military bases. These properties are then converted into neighborhoods. Among the bases they purchased are Mare Island Naval Shipyard, Tustin Marine Air Base, Marine Corps Air Station El Toro, Treasure Island in San Francisco, March Air Reserve Base and Hunters Point Naval Shipyard. Cleaning up these properties revealed that there is a great potential for construction of both residential and commercial units.

The founders of the business were Gene Fisher and Arnold Rosen. With the investment that Leonard Miller made on the company, he was able to replace Gene Fisher and eventually moved to rename the business. Lennar Corporation was formally created in 1971 and is a combination of the names Leonard and Arnold. It was also in this same year that the business went public.

Today, Lennar Corporation is traded publicly on the New York Stock Exchange. It is a component of the S&P 500 and the Russell 3000 Indices. The business is currently listed as part of the Fortune 500 companies.