DOCSLIB.ORG

Lennar Corporation Annual Report 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Lennar Corporation Annual Report 2020 Lennar Corporation Annual Report 2020 Form 10-K (NYSE:LEN) Published: January 27th, 2020 PDF generated by stocklight.com UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended November 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _______ To _______ Commission file number 1-11749 Lennar Corporation (Exact name of registrant as specified in its charter) Delaware 95-4337490 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 700 Northwest 107th Avenue, Miami, Florida 33172 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code (305) 559-4000 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, par value 10¢ LEN New York Stock Exchange Class B Common Stock, par value 10¢ LEN.B New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: NONE Indicate by check mark if the registrant is a well-know n seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ý No ¨ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes¨ No ý Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No ¨ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ý No ¨ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer ý Accelerated filer ☐ Emerging growth company ☐ Non-accelerated filer ☐ Smaller reporting company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ý The aggregate market value of the registrant’s Class A and Class B common stock held by non-affiliates of the registrant (279,724,450 shares of Class A common stock and 15,719,447 shares of Class B common stock) as of May 31, 2019, based on the closing sale price per share as reported by the New York Stock Exchange on such date, was $14,491,510,465. As of December 31, 2019, the registrant had outstanding 278,120,159 shares of Class A common stock and 37,738,354 shares of Class B common stock. DOCUMENTS INCORPORATED BY REFERENCE: Related Section Documents III Definitive Proxy Statement to be filed pursuant to Regulation 14A on or before March 29, 2020. LENNAR CORPORATION FORM 10-K For the fiscal year ended November 30, 2019 Part I Item 1. Business 1 Item 1A. Risk Factors 8 Item 1B. Unresolved Staff Comments 16 Item 2. Properties 17 Item 3. Legal Proceedings 17 Item 4. Mine Safety Disclosures 17 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of 18 Equity Securities Item 6. Selected Financial Data 20 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 54 Item 8. Financial Statements and Supplementary Data 56 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 111 Item 9A. Controls and Procedures 111 Item 9B. Other Information 114 Part III Item 10. Directors, Executive Officers and Corporate Governance 114 Item 11. Executive Compensation 114 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder 114 Matters Item 13. Certain Relationships and Related Transactions, and Director Independence 114 Item 14. Principal Accounting Fees and Services 114 Part IV Item 15. Exhibits, Financial Statement Schedules 115 Item 16. Form 10-K Summary 117 Signatures 118 Financial Statement Schedule 121 PART I Item 1. Business Overview of Lennar Corporation We are the largest homebuilder in the United States in terms of consolidated revenues and earnings, an originator of residential and commercial mortgage loans, a provider of title insurance and closing services and a developer of multifamily rental properties. In addition, we are involved in ventures, and have interests in companies, that are engaged in applying technology to improve the homebuilding industry and real estate related aspects of the financial services industry. Our homebuilding operations are the most substantial part of our business, generating $20.8 billion in revenues, or approximately 93% of consolidated revenues, in fiscal 2019. As of November 30, 2019, our reportable homebuilding segments and Homebuilding Other had divisions located in: East: Florida, New Jersey, North Carolina , Pennsylvania and South Carolina Central: Georgia, Illinois, Indiana, Maryland, Minnesota, Tennessee and Virginia Texas: Texas West: Arizona, California, Colorado, Nevada, Oregon, Utah and Washington Other: Urban divisions and other homebuilding related investments primarily in California, including Five Point Holdings, LLC ("FivePoint") Our other reportable segments are Financial Services, Multifamily and Lennar Other. Financial information about our Homebuilding, Financial Services, Multifamily and Lennar Other operations is contained in Management's Discussion and Analysis of Financial Condition and Results of Operations, which is Item 7 of this Report. Effective for the first quarter of 2019, Lennar Corporation (the “Company”) realigned the composition of its segments due to the sale of its former Rialto Capital Management investment and asset management platform (“Rialto”). As a result of this realignment, the Company’s Rialto segment was renamed “Lennar Other”. Additionally, the Company’s Rialto Mortgage Finance (“RMF”) business moved from the Lennar Other segment to the Financial Services segment. The Company also moved its strategic investments from Homebuilding Other to the Lennar Other segment. Prior period segment financial information has been reclassified to conform to the fiscal year 2019 presentation. About Our Company Our company was founded as a local Miami homebuilder in 1954. We completed our initial public offering in 1971 and listed our common stock on the New York Stock Exchange in 1972. During the 1980s and 1990s, we entered and expanded operations in a number of homebuilding markets, including California, Florida and Texas, through both organic growth and acquisitions, such as Pacific Greystone Corporation in 1997. In 2000, we acquired U.S. Home Corporation, which expanded our operations into New Jersey, Maryland, Virginia, Minnesota and Colorado and strengthened our position in other states. From 2002 through 2005, we acquired several regional homebuilders, which brought us into new markets and strengthened our position in several existing markets. From 2010 through 2013, we expanded our homebuilding operations into Georgia, Oregon, Washington and Tennessee. In 2017, we acquired WCI Communities, Inc. ("WCI"), a homebuilder of luxury single and multifamily homes, including a small number of luxury high-rise tower units, in Florida. In 2018, we acquired CalAtlantic Group, Inc. ("CalAtlantic"), a major homebuilder which was building homes across the homebuilding spectrum, from entry level to luxury, in 43 metropolitan statistical areas spanning 19 states, and providing mortgage, title and escrow services. As a result, we became the nation's largest homebuilder in terms of consolidated revenues, with fiscal year 2019 consolidated revenues of $22.3 billion. We are continuing our pivot to a land light operating model by controlling the timing of land purchases, reducing our years owned supply of homesites and increasing the percentage of land controlled through options or agreements versus owned land. We are focused on increasing the efficiencies in our building process and reducing selling, general and administrative expenses by using technology and innovative strategies to reduce customer acquisition costs. We have been focusing on monetizing non-core assets and migrating toward being more of a pure-play homebuilding and financial services company. At the end of fiscal 2018 and the early part of 2019, we disposed of our Rialto Management Group, the majority of our retail title business, our title insurance underwriting business, our Florida real estate brokerage business and the majority of our business of offering residential mortgages to non- Lennar homebuyers. In addition to our core operating
Load more

Recommended publications
  • UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C
    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended November 30, 2018 Commission file number 1-11749 Lennar Corporation (Exact name of registrant as specified in its charter) Delaware 95-4337490 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 700 Northwest 107th Avenue, Miami, Florida 33172 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code (305) 559-4000 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Class A Common Stock, par value 10¢ New York Stock Exchange Class B Common Stock, par value 10¢ New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: NONE Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES ý NO ¨ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YES ¨ NO ý Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
    [Show full text]
  • October 15, 2010 Mr. Alfred M. Pollard General Counsel Federal Housing
    October 15, 2010 Mr. Alfred M. Pollard General Counsel Federal Housing Finance Agency Fourth Floor 1700 G Street NW. Washington, DC 20552 ATTENTION: Public Comments "Guidance on Private Transfer Fee Covenants, (No. 201O-N- 11)" Dear Mr. Pollard: On behalf of the more than 3,800 member companies of the American Land Title Association (ALTA), we applaud the Federal Housing Finance Agency (FHFA) for its guidance to the enterprises on the growing use of private transfer fee covenants and their effect on Fannie Mae, Freddie Mac and Federal Home Loan Bank mortgage purchases, but especially consumers. Private transfer fee covenants provide no benefit to consumers, real estate or the public, but rather cost consumers’ money, complicate the safe, efficient and legal transfer of real estate and depress home prices1. ALTA, founded in 1907, is the national trade association and voice of the real estate settlement services, abstract and title insurance industry. With more than 8,000 offices throughout the country, ALTA members operate in every county in the United States to search, review and insure land titles to protect home buyers and mortgage lenders who invest in real estate. ALTA members include title insurance companies, title agents, independent abstracters, title searchers and attorneys, ranging from small, one-county operations, to large national title insurers. Real property is the greatest source of wealth in the United States, and access to that wealth is only possible because of a strong set of property rights that determine how property is used and owned. By establishing legal rights to property, economies have the surety necessary to use it as collateral in order to create additional capital.
    [Show full text]
  • UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 31, 2019 Commission File Number: 1-11749 Lennar Corporation (Exact name of registrant as specified in its charter) Delaware 95-4337490 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 700 Northwest 107th Avenue, Miami, Florida 33172 (Address of principal executive offices) (Zip Code) (305) 559-4000 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, par value $.10 LEN New York Stock Exchange Class B Common Stock, par value $.10 LEN.B New York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES ý NO ¨ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). YES ý NO ¨ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.
    [Show full text]
  • Study of the Possible Effect of Problem Drywall Presence on Foreclosures Report to Congress July 17, 2012
    Study of the Possible Effect of Problem Drywall Presence on Foreclosures Report to Congress July 17, 2012 Summary Overview This report is HUD’s response to section 1494 of the Dodd-Frank Act, which required the Secretary of Housing and Urban Development, in consultation with the Secretary of the Treasury, to conduct a study of the effect on residential mortgage loan foreclosures of: (1) the presence in residential structures subject to such mortgage loans of drywall that was imported from China during the period beginning with 2004 and ending at the end of 2007; and (2) the availability of property insurance for residential structures in which such drywall is present. The report begins by providing context and background information regarding drywall imported from China, its presence in the U.S. homebuilding market, and the recent problems associated with it. It then calculates the extent of possible impacts associated with problem drywall by estimating of the number of residences built with drywall imported from China, the geographic distribution of these units, and the fraction of units affected. Following this assessment of scope and scale, the report examines how the presence of problem drywall might catalyze a foreclosure. This section includes discussion of the indirect consequences of problem drywall, the primary causes of foreclosure in the U.S. housing market, and whether property insurance mitigates the problems caused by some of the Chinese drywall. The report concludes with recommendations and a summary of key findings. Key Findings. While a significant issue for those with problem drywall in their homes, problem drywall was not a significant contributor to the foreclosure crisis in the United States.
    [Show full text]
  • 2017 Conference Program
    THE FSU REAL ESTATE CENTER’S 23RD OCTOBER 19 & 20, 2017 TALLAHASSEE, FLORIDA fsutrends.com | 850.644.4071 LEGACY LEADERS GOLD SPONSORS THE FSU REAL ESTATE CENTER’S 23RD CONFERENCE PROGRAM LEGACY LEADERS Centennial Management Corp. The Kislak Family Foundation, Inc. The Real Estate TRENDS Conference is organized to inform participants of the emerging trends and issues facing the real estate industry, to establish and strengthen professional contacts, and to present the broad GOLD SPONSORS range of career opportunities available to our students. It is Berkadia Florida Trend organized by the FSU Real Estate Center, the Florida State University CNL Financial Group GreenPointe Holdings, LLC Real Estate Network and the Colliers International Lennar Homes students’ FSU Real Estate Society. This event would not be possible Cushman & Wakefield Osprey Capital without the generous financial The Dunhill Companies Ryan, LLC support of its sponsors. Eastdil Secured STR, Inc. PROGRAM PARTNERS The Program Partner designation is This year’s conference reserved for those who have made features a personalized major gifts to advance the Real Estate schedule, guest messaging, Program at Florida State University. and on-site updates delivered directly Donna Abood to your phone* Beth Azor Kenneth Bacheller Mark C. Bane Bobby Byrd Harold and Barbara Chastain Marshall Cohn Peter and Jennifer Collins John Crossman/Crossman & Company Scott and Marion Darling Florida State Real Estate Network, Inc. Mark and Nan Casper Hillis Evan Jennings The Kislak Family Foundation, Inc. The app is available in the Brett and Cindy Lindquist Android and IOS app stores. George Livingston Download now by searching *Android and IOS Shawn McIntyre/North American Properties FSU Real Estate Trends Greg Michaud compatible Francis Nardozza smart phones GARNET SPONSORS George Aase Epic Development Hooper Construction/Urban REI-Real Estate InSync Active Senior Concepts Extended Stay America Street Development Residential Elevators LLC Alexander Investments Florida Realtors® Invesco Mortgage Capital Inc.
    [Show full text]
  • 2019 Conference Program
    This year’s conference features a personalized schedule, guest messaging and on-site updates delivered directly to your phone.* The app is available in the Android and iOS app stores. Download now by searching FSU Real Estate Trends. *Android and IOS compatible smart phones PROGRAM PARTNERS The FSU Real Estate TRENDS Conference is organized to inform participants of emerging GARNET SPONSORS trends and issues facing the real estate industry, to establish and strengthen professional • American Realty Advisors • Foundry Commercial • Chris and Leah Marino • Residential Elevators LLC The Program Partner designation is reserved for contacts and to present the broad range of career opportunities available to our students. those who have made major gifts to advance the It is organized by the FSU Real Estate Center, the Florida State University Real Estate • Appraisal Institute - Region X • Franklin Street • NAI TALCOR • R.K.M. Development Corp. Network and the students’ FSU Real Estate Society. This event would not be possible Real Estate Program at Florida State University. • Coldwell Banker Hartung • Dean and Kathy Gatzlaff • Nelson Mullins Broad • Salzman Real Estate Advisors without the generous financial support of its sponsors. and Noblin, Inc. and Cassel • GEA Capital Advisors • Stearns Weaver Miller • Cushman & Wakefield • North American Properties • GreenPointe Communities, LLC • Timbers Resorts Donna Abood Bob and Darby Hold • Extended Stay America • NorthMarq • Gunster Law Firm • ULI Capital Region Leadership Council • FirstPointe Advisors, LLC • PEBB Enterprises Beth Azor Evan Jennings • Inland SunStopsTM • Voya Investment Management LEGACY LEADERS • Forge Capital Partners • REI-Real Estate InSync Kenneth Bacheller The Kislak Family • Marcus & Millichap Foundation, Inc. Mark C.
    [Show full text]
  • Lennar Corporation (Exact Name of Registrant As Specified in Its Charter) Delaware 95-4337490 (State Or Other Jurisdiction of (I.R.S
    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended November 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _______ To _______ Commission file number 1-11749 Lennar Corporation (Exact name of registrant as specified in its charter) Delaware 95-4337490 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 700 Northwest 107th Avenue, Miami, Florida 33172 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code (305) 559-4000 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, par value 10¢ LEN New York Stock Exchange Class B Common Stock, par value 10¢ LEN.B New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: NONE Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes R No ¨ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No R Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
    [Show full text]
  • Lennar Annual Report-NEW.Rex
    1999 ANNUAL REPORT Table of Contents Financial highlights 3 Letter to shareholders 4 A simple emphasis: our customers 11 A simple operating model: where, what and how 13 A simple focus: growing strong in America’s fastest growing markets 14 A simple strategy: “Everything’s IncludedSM” from A to 17 Simply one stop: financial services 19 ...and simply a great place to work 21 Financial information 23 Simply Lennar The future belongs to the focused. It’s our focal point. It’s our strategy. It’s the way we build homes and sell homes. It’s the way we control our growth. It’s simply the way we manage our business. 1 1 Simply Lennar Building a better home As the nation’s fifth largest residential builder, with operations in Florida, California, Texas, Arizona and Nevada, we’ve helped to fulfill the home ownership dreams of over 160,000 families since the company was founded in 1954 - over 12,500 families in 1999 alone. Our fundamental goal: to build a better home, for the first-time buyer, the family moving up to a larger home, or the retirees looking for a home and community that fits their active lifestyle. We’ve continually set our standards higher, with a new generation of quality Zero Defect homes and our “Everything’s IncludedSM” program of upgraded home features. Keeping it simple and making it special. That’s what it’s all about. Building superior financial services Through our Financial Services Division, we’ve also helped to simplify the homebuying process with services that include everything from title, mortgage and closing services to cable television and alarm system installation and monitoring.
    [Show full text]
  • Transforming with Transparency: Investing in Innovation Amid Public
    ! Transforming with Transparency:! Investing in Innovation amid Public Scrutiny! ! New York Stock Exchange! June 3 and 4, 2014! ! ! Leadership Partners! ! Deloitte! IBM! Korn Ferry! PepsiCo! UPS! NYSE! CNBC! ! ! YALE CEO SUMMIT Marshall Ames Chairman Lennar Foundation *Linda Ban Global C-Suite Studies Director IBM Institute for Business Value *Maria-Paz Barrientos Partner & Vice President IBM Global Business Services Norman J. Bartczak Professor, Columbia Business School Founder, Financial Statement Investigation Bruce Batkin Chief Executive Officer Terra Capital Partners ‡Martin Becker Executive Vice President & COO DURA Automotive Systems Jonathan Berman Author, Fellow, Columbia University *Saul J. Berman Partner & Vice President IBM Global Business Services Richard J. Berry Mayor City of Albuquerque, NM Frank Blake Chairman & Chief Executive Officer The Home Depot ‡Allison Bober Director of Investor Relations Lennar Corporation John N. Bonfiglio Chief Executive Officer Oragenics ‡Mike Booen Vice President, Global Program Management MD Helicopters James C. Brainard Mayor City of Carmel, IN Richard C. Breeden 24th Chairman US Securities and Exchange Commission ‡*Ivy Brown President, Northeast District UPS Richard D. Calder Jr. President & Chief Executive Officer GTT Ashton B. Carter Deputy Secretary of Defense (2011-2013) US Department of Defense *Michelle Caruso-Cabrera International Correspondent CNBC ‡Eric Cevis President – Global Wholesale Verizon Communications James S. Chanos Managing Partner Kynikos Associates David Chun Chief Executive Officer Equilar Sanford R. Climan President Entertainment Media Ventures Christopher B. Coleman Mayor City of Saint Paul, MN Zack Cooper Professor of Health Policy & Economics Yale University Mick Cornett Mayor City of Oklahoma City, OK * Summit Sponsor ‡ CEO COLLEGE Participant YALE CEO SUMMIT Roger W. Crandall Chairman, President & CEO MassMutual Michael Crosby Chief Operating Officer The Deal Yong CUI President Xinyuan Int’l (HK) Property Investment Co.
    [Show full text]
  • Institutional Real Estate Investor Forum
    GLOBAL INSTITUTIONAL REAL ESTATE INVESTOR FORUM April 4–5, 2017 Union League Club | New York • • • • • • GLOBAL INSTITUTIONAL REAL ESTATE INVESTOR FORUM APRIL 4–5, 2017 | NEW YORK GLOBAL INSTITUTIONAL REAL ESTATE INVESTOR FORUM Dear Colleague, On behalf of the entire Real Estate Group here at the Markets Group, it is my distinct pleasure to welcome you to the 5th Annual Global Institutional Real Estate Investor Forum. I would like to thank you for joining us and bringing your expertise to today’s discussions. Throughout the sessions you will hear from many of the world’s most sophisticated institutional investors, the region’s leading real estate fund managers and a wide variety of industry thought leaders. We would also like to thank our sponsors for their continued support: Baker McKenzie, Cervantes Sainz, Gen II Fund Services, Global Index Group, Greenberg Traurig, GTIS Partners, Hodes Weill & Associates, Kennedy Wilson, Lennar International, Miller Global Properties, Oaktree Capital Management, Parkview Financial, RealtyShares, Ritch Mueller, SURA Asset Management, Thor Urbana, Valyrian Real Estate Partners and XT Capital Partners. We are confident that you will walk away with a wealth of information and opportunities to create partnerships and expand your networks. In the coming days you will hear important updates on fund opportunities, institutional due diligence, deal- sourcing, financing, direct investments, fundraising and fund formation, allowing this forum to become the preeminent global real estate event for GPs and LPs. Please do not hesitate to call upon myself or my team if we can be of assistance during the event and thank you for your continued support.
    [Show full text]
  • Calatlantic Home Service Request
    Calatlantic Home Service Request chanoyu.Faroese Meir Is Ewart leaped summital some florists or paronomastic after uneffected after intermingled Kin regelate Sigmundunorthodoxly. disproportion Paragenetic so incredulously? and spikier Sloan piffled so pathetically that Inigo recline his Some florida and service request the legal description will Find the latest ratings reports data and analytics on CalAtlantic Group Inc. DwellingLive Online Resident Portal. Routine warranty claims and follow was to completion all service requests. Terramor New Home Neighborhoods in Corona CA. If you're buying a name your mortgage lender will devise a home. Escrow Services CalAtlantic Title. Homes and its affiliates including Lennar Mortgage LLC CalAtlantic Title Inc. Lennar Homes LLC Complaints Better Business Bureau. Home Warranties Customer Care Web. Home warranty requests to encounter service Service Requests Submit warranty service requests to our Customer Care Team chat a rule Request. Are you searching for homes residential real estate Triest Agency New can. Customer Care Representative at The CalAtlantic Group Tartaai. Calatlantic Homes At Villagio At The Promontory is located in El Dorado Hills CA United States and is come of the Landscaping Services Industry Calatlantic Homes At. Warranty Manual Lennar. Lennar homes venice fl VIRTUAL ARTS POLSKA. Click mesh to vary what 374 homeowners had to ask about Pulte Homes in their reviews. Taylor morrison warranty issues Mathieu Memorials. Tina S Customer Service Representative at CalAtlantic Homes. Calatlantic Homes Building Construction Consultants. LGI Homes ranks 216 of 172 in Construction crew Repair category. Lennar buys CalAtlantic to become largest US homebuilder. Keep receive service request logs and documentation of distance work performed.
    [Show full text]
  • Three Essays on Real Estate, Finance and Planning
    THREE ESSAYS ON REAL ESTATE, FINANCE AND PLANNING: HOMEBUILDING, LIFE INSURER LENDING, AND RETAIL IN AN AGE OF FINANCIALIZATION A Dissertation Presented to the Faculty of the Graduate School of Cornell University in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy by Peter Wissoker May 2018 © 2018 Peter Wissoker THREE ESSAYS ON REAL ESTATE, FINANCE AND PLANNING: HOMEBUILDING, LIFE INSURER LENDING, AND RETAIL IN AN AGE OF FINANCIALIZATION Peter Wissoker Cornell University 2018 Too often planners neglect the importance of understanding the real estate industries, including real estate finance and investment. In this dissertation I examine how changes in the financial sector over the past thirty years reconfigured urban and suburban development. I take three different approaches to these issues. The first paper describes the role of large financial firms in the rapid growth of local and regional homebuilding companies during the 1990s, a period during which a handful of homebuilders became increasingly national in scale and captured a significant share of large, fast-growing markets in cities like Las Vegas and Phoenix during the 2000s. Among my conclusions, I suggest that homebuilders may have overbuilt in the mid-2000s to meet the annual growth targets of their stock analysts rather than the needs of subprime mortgage packagers. The essay also offers an argument that housing economists should consider firm and local market structure when studying housing supply and housing bubbles. The second paper is a case study of the real estate investments of U.S. life insurance companies, who for much of the twentieth century wrote one-third of the mortgages that financed the building of suburban malls, office buildings, apartments, etc., in the United States.
    [Show full text]