Lennar’s Q3 Earnings: Multifamily projects recorded sales greater than targeted 25 percent return

September 18, 2014

According to Business Insider, investment returns are very low. But Lennar’s CEO Stuart Miller announced that their multifamily projects have been earning them more than their target.

This goes hand-in-hand with the fact that the American homebuyer today is more likely to buy or rent an apartment than buy a single-family home, which has led to a boom in multifamily housing construction. Miller further adds that Lennar’s “geographically diversified $5 billion pipeline of multifamily product will become a more predictable source of quarterly earnings starting in late 2015 and 2015.”

 

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