CHARLOTTE, N.C., April 25, 2017 /PRNewswire/ -- LMC, a wholly-owned subsidiary of Lennar (NYSE: LEN, and LEN.B), and a leader in apartment development and operations, today announced that it was named as the nation's third largest developer of multifamily housing in 2016 by the National Multifamily Housing Council (or "NMHC").
LMC started 6,244 apartment homes in 2016 to earn the number three ranking on NMHC's Apartment Developers List. The five-year old company has ranked in the Top 10 developers for the last three years, increasing from sixth place in 2015 with 4,565 starts. Additionally, for the first time, LMC also appeared on NMHC's list of largest general contractors of multifamily housing, ranking number nine in the nation. LMC earned this position by being the general contractor for approximately 50% of its 2016 starts.
Todd Farrell, President of LMC, said "We are truly honored to be included among such an esteemed group and thankful for our amazing associates who have enabled us to grow. Our focus, regardless of quantity, will be to develop quality apartment homes that residents are proud to call home. We look forward to a solid 2017 as apartment demand continues to outpace growth."
The NMHC has become the authoritative rankings in the multifamily industry, ranking such categories as: the nation's 50 largest apartment owners, 50 largest apartment managers, 25 largest apartment developers, 25 largest general contractors and 10 largest apartment syndicators.
LMC, a wholly-owned subsidiary of Lennar (NYSE:LEN, and LEN.B), is a multifamily real estate development and operating company with a diverse portfolio of institutional quality multifamily rental communities across the US. LMC has a ~23,000-unit pipeline of communities ranging from operating to under development that is approaching $8 billion and consists of high-rise, mid-rise and garden apartments.
LMC creates extraordinary communities where people can live remarkably.