Lennar Enters Nashville Market

News provided by

Jun 18, 2013, 08:30 ET

MIAMI, June 18, 2013 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders, announced today that the Company has expanded its homebuilding operations into the Nashville, Tennessee market by acquiring control of approximately 40 homesites in the Tollgate Village community.

Lennar's start-up operations in Nashville are being led by Andy Pfeifer, a 12-year Nashville homebuilding veteran. "We feel very strongly that Andy is the right person to introduce our new home product and brand philosophy into this market and we are thrilled to have him join our team," said Rob Hutton, President of Lennar's Central Region. "Andy is an exceptional leader and we are honored to benefit from his expertise, keen insights and vast knowledge of the homebuilding industry in the Nashville area."

"We are excited about bringing our Lennar Everything's Included Homes to the Nashville market," continued Hutton. "We have been evaluating the Nashville market for some time and believe this is a perfect time to enter this market."

The entry into the Tennessee market is similar to Lennar's recent strategic expansion into Atlanta, Seattle, Portland and Central Texas. Lennar now has homebuilding operations in 19 states and 46 markets across the nation. For more information and for a complete list of Lennar Communities, visit www.lennar.com.

Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. The Company builds affordable, move-up and retirement homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of the Company's homes and others. Lennar's Rialto Investments segment is focused on distressed real estate asset investments, asset management and workout strategies. Previous press releases and further information about the Company may be obtained at the "Investor Relations" section of the Company's website, www.lennar.com.

SOURCE Lennar Corporation