Lennar has secured a South Florida development site in Sunrise for $164.5M through a land-banking deal. The 152-acre former Sunrise Country Club property is approved for 900 homes as the builder continues investing despite lower profits and challenging housing conditions.
Lennar has moved to secure a large entitled development site in Sunrise, Florida, committing $164.5 million for land approved for a master-planned residential community, according to public property records.
The acquisition involves roughly 152 acres at 7400 Northwest 24th Place, a site previously occupied by the Sunrise Country Club. Development approvals allow for a community known as Solterra, planned with 500 townhouses and 400 single-family homes. The sellers were CC Homes, a joint venture between developers Jim Carr and Armando Codina, along with Windsor Investments. The group had acquired the property for $12.3 million before entitlements were in place.
Transaction documents show that New York-based DW Partners purchased the site while acting as a land bank for Lennar. Under that structure, the land is typically held until the homebuilder is ready to begin construction. The sale price equates to slightly more than $1 million per acre.
The purchase comes during a period of reduced profitability for Lennar, as elevated mortgage rates and inflation have constrained housing demand. Company filings indicate net earnings declined to about $2.1 billion between 2024 and 2025. Despite those conditions, Lennar has continued to invest in future supply and expects to deliver approximately 85,000 homes this year.
Company leadership has emphasized maintaining sales volume, managing costs and supporting affordability as market conditions evolve. The land acquisition aligns with that long-term production strategy in South Florida, where entitled sites are increasingly scarce.
The transaction was first reported by the South Florida Business Journal.