Industry History | Lennar — Ten Thousand Dollars and Forty-Two Miami Lots
· 1954-1
Unreviewed contributionBy kevin · · Report an issue
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Industry History | Lennar — Ten Thousand Dollars and Forty-Two Miami Lots
kevin
People treat Lennar as a Miami-Dade listing that always delivered an Everything's Included house from a national production book.
The first book was a local builder with a short name.
In 1954 Gene Fisher and Arnold P. Rosen formed F and R Builders in Miami and put up small residential jobs.
In 1956 Leonard M. Miller, then twenty-three and already holding 42 lots in Miami-Dade, put in 10,000 dollars and became Rosen's partner after Fisher left.
Miller ran the land and the sales. Rosen ran the construction.
By 1969 the equity base had reached one million dollars.
In 1971 they folded the names Leonard and Arnold into Lennar and took the company public, raising about 8.7 million dollars.
The stock listed on the New York Stock Exchange in 1972.
The 2000 purchase of U.S. Home doubled the map. CalAtlantic followed in 2018.
Headquarters later sat in Fontainebleau with a Miami postal address.
The pin is Miami, where F and R first framed houses and where the listed company still keeps its book.
The mechanism is a lot inventory plus a production builder, later scaled by buying other regional books instead of opening one market at a time.
Photo: public-domain view of Miami, via Wikimedia Commons.
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