Lennar Closes $1.3 Billion Fund to Invest in Multifamily Projects

LMC, a wholly-owned subsidiary of Lennar Corporation and a leader in apartment development and management, announced the final closing of Lennar Multifamily Venture II (LMV II).

LMV II is a $1.3 billion equity fund targeting investments in Class A multifamily communities in the 25 top U.S. metropolitan markets, according to The Real Deal. LMV II will provide LMC with capital to develop and acquire $2.6 billion in multifamily assets across the United States, according to a release.

After acquiring CalAtlantic in a deal worth $9.3 billion last year, Lennar became the largest homebuilder in the U.S.