Lennar Corporation
Lennar Announces Spin-off Record Date for Millrose
Summary
On January 21, 2025, Lennar Corporation announced the record date for the taxable spin-off of approximately 80% of Millrose Properties, Inc. Each Lennar stockholder of record on the specified date will receive one share of Millrose Class A common stock for every two shares of Lennar Class A or Class B common stock held. Stockholders also have the option to elect to receive Millrose Class B common stock. The election period for this option ends on February 3, 2025.
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About Lennar Corporation
Lennar Corporation is a prominent home construction and real estate company, recognized for building affordable, move-up, and active adult homes. Its primary function is to cater to a diverse range of homebuyers across the United States, offering not only residential properties but also financial services through its mortgage and title operations. Lennar's focus spans across key housing markets, significantly impacting regions with high demand for housing like the Sun Belt states. Besides construction, it integrates technology and sustainability into its projects, enhancing overall community appeal and efficiency. Established in 1954, the company has continually adapted to changing market conditions, contributing to urban development and housing innovation. By maintaining a strong emphasis on strategic land acquisition and development, Lennar plays a vital role in shaping residential trends and addressing the ongoing demand for homes in a variety of economic climates.
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