Lennar prepares for $5 billion spin-off company
By Brian Bandell
Tampa Bay Business Journal
Published: Dec 19, 2024

Miami-based Lennar Corp. (NYSE: LEN) is moving forward with plans to spin off a company comprised of its land holdings valued at least $5 billion.

Miami-based Millrose Properties will act as a land bank for homebuilder Lennar by owning property, engaging in site work and executive homesite option contracts with Lennar, and potentially other builders. Millrose Properties filed a Form S-11 registration with the U.S. Securities and Exchange Commission on Wednesday to start the spin-off process, subject to final approval from Lennar’s board of directors.

TO READ MORE CLICK HERE TAMPA BAY BUSINESS JOURNAL