Leading National Homebuilder to Complete Buildout of Arden, Award-Winning Master Planned Community in Palm Beach County

WELLINGTON, Fla., April 15, 2022 /PRNewswire/ -- Freehold Communities, one of the nations' most vibrant and forward-looking developers of master-planned communities, today announced that it sold the remainder of Arden, its award-winning community situated in Palm Beach County. Lennar, one of the nation's leading homebuilders, will now complete the build out of the community.

Located near Wellington, FL, Arden is approved for more than 2,300 homes in one of Florida's first Agrihoods – in which fresh foods grown onsite are an integral component of an active lifestyle full of outdoor amenities such as trails, playgrounds, lakes, and pools.

Lennar, based in Miami, already has built many of the homes in Arden and will complete the buildout consistent with the high standards and resident focus that make Arden such a popular community for a wide range of buyers. As part of this transaction, Lennar will become the declarant of Arden's homeowners' association. Freehold said it will remain involved with the community for an extended period.

"Lennar has been part of Arden since inception and understands the vision of this unique community," said Thomas C. ("Casey") Tischer Jr., a co-founder of Freehold. "It has been a pleasure to work alongside the Lennar team for years as they built quality homes for hundreds of Arden families. We now look forward to watching them complete Arden as a model of healthy, active, and sustainable living."

Michael Meyers, Lennar Palm Atlantic Division President, said Arden will be an important addition to the company's South Florida portfolio and help meet demand for new homes in vibrant communities.

"Arden perfectly fits the Florida lifestyle that appeals to so many people and we are delighted to complete a community we've been a part of since the beginning," Meyers said.

Arden's scenic landscape includes 175 acres of magnificent lakes, including a mile-long central lake, 20 miles of trails, and 500 acres of parks, playgrounds, and green space. Arden is also home to one of the first Agrihoods in Florida. Arden's 5-acre farm and event barn are central components of community life here, offering fruits, vegetables and herbs shared among the residents. Wellington's world-famous equestrian centers are just 12 minutes from Arden. Arden is also close to major employment centers, A-rated Wellington schools, top-rated medical centers, white sand beaches, shopping, dining destinations and world-class golf. Direct access to sophisticated Palm Beach, Palm Beach International Airport, and South Florida's major cities make Arden's location second to none.

Freehold Communities, headquartered in Boston, MA, is currently developing mixed-use and master-planned communities in Texas, Tennessee, North Carolina, South Carolina, Georgia, Florida, California, and Virginia. Freehold creates Vital Communities that embrace healthy living, engagement, connectivity, stewardship and distinctive home design. As it evaluates opportunities, the company focuses on the right planning, the right properties and the right partners. Beginning with comprehensive research to gain insight into the unique needs, trends and preferences in the local market, Freehold carefully considers each property to determine how to best maintain its beauty and character to create a Vital Community by partnering with quality, creative builders who share Freehold's philosophy of offering niche solutions and unique, timeless designs. To learn more, visit www.FreeholdCommunities.com.

Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LEN^X drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit lennar.com.

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SOURCE Freehold Communities