About Stone Point Advisory, Broker Dealers & Merchant Trading. 107th Avenue In 2017 the company was the largest home construction company in the United States after its purchase of CalAtlantic Homes. Our knowledgeable loan officers can help you understand your financial situation and goals, so you can select the best loan option for your present and future needs. Lennar’s Financial Services segment provides mortgage financing, title and closing services primarily for buyers of the Company’s homes and, through Rialto Mortgage Finance, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. The irrm has raised and managed seven private equity funds – the Trident Funds – with aggregate committed capital of approximately $19 billion. For further information about Stone Point, see www.stonepoint.com. Lennar will hold onto Rialto's mortgage finance business and retain Rialto's fund investments, which totaled $294 million as of Aug. 31. Previous press releases and further information about Lennar can be obtained at the “Investor Relations” section of Lennar’s website, www.lennar.com. As previously announced, Lennar is retaining its Rialto Mortgage Finance business, which Lennar is moving into its Financial Services business, and it is retaining its fund investments ($294 million at August 31, 2018) along with its carried interests in various Rialto funds and investments in other Rialto balance sheet assets. Lennar’s Rialto segment is a vertically integrated asset management platform focused on investing throughout the commercial real estate capital structure. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. Copyright © 2021 Lennar Corporation. Danielle.Tocco@lennar.com, Transfer agent: Lennar will retain its Rialto Mortgage Finance business, which Lennar expects will move into its Financial Services business at the beginning of fiscal 2019. Stone Point Capital is a leading private equity firm, investing in businesses within the global financial services industry. It also will retain carried interests in various Rialto funds, and investments in legacy Rialto balance sheet assets. About Lennar MIAMI, Dec. 3, 2018 /PRNewswire/ — Lennar Corporation (NYSE: LEN and LEN.B) reported that, on November 30, 2018, it completed the previously announced sale of its Rialto Investment and Asset Management business to investment funds managed by Stone Point Capital for $340 million. 2018, 700 N.W. Lennar’s Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of Lennar’s homes and others. In November 2018, Lennar Corporation, the former parent, sold its ownership stake in Rialto’s fund and asset management business to funds managed by Stone Point and retained the origination platform Rialto Mortgage Finance. Lennar’s Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of Lennar’s homes and others. The firm has raised and managed seven private equity funds – the Trident Funds – with aggregate committed capital of approximately $19 billion. Stone Point targets investments in the global financial services industry, including investments in companies that provide outsourced services to financial institutions, banks and depository institutions, asset management firms, insurance and reinsurance companies, insurance distribution and other insurance-related businesses, specialty lending and other credit opportunities, mortgage services companies and employee benefits and healthcare companies. Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC served as financial advisors for Lennar and Goodwin Procter LLP acted as Lennar’s legal counsel. It is not possible for management to predict all the possible risks that could affect Lennar or to assess the impact of all possible risks on Lennar's business. Prior to joining Rialto Capital, she worked for Lennar Corporation as of 2006 as a member of the Corporate Investment Committee (CIC). View original content:http://www.prnewswire.com/news-releases/lennar-agrees-to-sell-rialto-management-business-300739747.html, Back to Press Releases Here's why that matters. Lennar's Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of Lennar's homes and others. Computershare Investor Services, P.O Box 505000 Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements. As previously announced, Lennar is retaining its Rialto Mortgage Finance business, which Lennar is moving into its Financial Services business, and it is retaining its fund investments ($294 million at August 31, 2018) along with its carried interests in various Rialto funds and investments in other Rialto balance sheet assets. The Rialto Investment and Asset Management Business will continue to be led by its current management. Kramer Levin Naftalis and Frankel LLP acted as Stone Point's legal counsel. Analysis: Why Lennar's Looking to Sell Rialto It's a mistake to interpret the move as defensive, or as a reaction to a slowing single-family market. Lennar Corp said Dec. 3 that it closed the sale of Rialto Investment and Asset Management to Stone Point Capital for $340 million. Irvine, CA 92618 Lennar's Rialto segment is a vertically integrated asset management platform focused on investing throughout the commercial real estate capital structure. Lennar said in April that it was considering a sale of Rialto as part of the company’s strategy of spinning off or selling noncore subsidiaries to focus on its main home-building business. Lennar CorporationLEN has divested its Rialto Investment and Asset Management business segment to Stone Point Capital LLC, a private-equity … Lennar will also retain its fund investments $294 million as of August 31, 2018) along with its carried interests in various Rialto funds, as well as investments in other legacy Rialto balance sheet assets. All rights reserved. For further information about Stone Point, see www.stonepoint.com. The closing of this deal generates substantial cash flow, which aligns with our previously stated capital and capital allocation strategy.”, “We would like to thank the Rialto associates for their dedicated years of service and wish them continued success in their future endeavors.”. Lennar Corporation is a home construction and real estate company based in Fontainebleau, Florida, with a Miami postal address. Rialto Capital uses a solutions-oriented approach and endeavors to provide a best-in-class borrower experience. Diane Bessette, Chief Financial Officer of Lennar, said, “We are very pleased to announce the successful execution of this transaction, which is a significant component of our strategy of reverting to our pure-play core homebuilding platform. Lennar Corporation (NYSE: LEN and LEN.B) announced late … Lennar Sells Rialto Unit for $340 Million Stone Point Capital buys Rialto Investement and Asset Management. Lennar Corporation LEN has divested its Rialto Investment and Asset Management business segment to Stone Point Capital LLC, a private-equity firm, for $340 million. 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