Lennar builds new homes in 21 states in more than 78 popular real estate markets across the nation. For more than 60 years, the homebuilder has been committed to its core value of integrity and focused on markets that contribute to the growth of a region to build lasting value and economic strength.
Most recently, the company announced a joint venture for a master-planned community in Las Vegas with Shea Homes and Woodside Homes. With Lennar as the managing partner, Sunstone is anticipated to open in 2021 and will bring more than 3,000 new homes to ten neighborhoods, offering a variety of designs for families at every stage of life including attached condominiums, single-family homes, move-up estates and age-quali ed residences. “We are excited to partner with the City of Las Vegas to begin the construction and development of this new distinctive community,” said Joy Broddle, Division President of Lennar Las Vegas. “Sunstone has been thoughtfully designed to provide modern yet nature-inspired amenities. A diverse and extensive trail system throughout the community will allow for connectivity between the homes, parks, schools and outside services.” The company continues to deliver on the increased home demand and revealed its rst quarter earnings in 2020 were $398.5 million with more than 10,000 home deliveries.
In regards to the recent global pandemic and the measures the company will be taking, Stuart Miller, Executive Chairman of Lennar, said, “Although today we are announcing our rst quarter 2020 results, the events that have occurred since quarter-end currently command our focus and attention. With a near shutdown of large portions of our national economy, we are all stretching our minds to understand the parameters of the rapidly evolving landscape, while we contemplate what the future holds. Accordingly, our first quarter conference call this morning will be focused on Lennar’s oversight and management through the current crisis, and the steady-handed approach that we have applied.”
Miller continued, “First and foremost, our senior management team is evaluating every aspect of our company to determine how we protect the safety, health and hygiene of each and every one of our associates, customers and building partners, while we maintain our business.” Miller concluded, “As you can see in the schedules in our earnings release, our rst quarter results achieved and exceeded all expected metrics and we had been on track to expand on our guidance for the year. We have been focused on reducing land spend and land holdings to grow cash flow and fortify our balance sheet. That strategy was well-timed and has positioned us well.