Deals

Lennar Acquires Fellow Homebuilder WCI Communities

The Miami-based homebuilder Lennar Corporation announced Thursday that it has acquired WCI Communities, Inc., a homebuilder based in Bonita Springs.

Research by staff September 22, 2016

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The Miami-based homebuilder Lennar Corporation announced Thursday that it has acquired WCI Communities, Inc., a homebuilder based in Bonita Springs. The transaction will combine two of the largest homebuilders in Florida; it gives WCI a total equity value of approximately $643 million and an enterprise value of $809 million. Between July 2015 and June 2016, WCI delivered 1,118 homes with an average sales price of approximately $444,000. The merger with Lennar will include a portfolio of owned and controlled land totaling approximately 14,200 homesites.

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