Business
Limoneira’s Joint Venture with Lewis Group Announces National Home Builder Lennar is Purchasing an Additional 4 Condominium Lots for 68 Single-Family Homes
Joint Venture Has Now Closed 354 Residential Unit Sales SANTA PAULA, Calif.--(BUSINESS WIRE)-- Limoneira Company (the “Company” or “Limoneira”) (Nasdaq:
About this update from Limoneira Co
[{"type":"text","content":"\nJoint Venture Has Now Closed 354 Residential Unit Sales\n\n SANTA PAULA, Calif.--(BUSINESS WIRE)--\nLimoneira Company (the “Company” or “Limoneira”) (Nasdaq: LMNR), a diversified citrus packing, sales and marketing company with related agribusiness activities and real estate development operations, announced today that its 50%/50% real estate development joint venture with The Lewis Group of Companies (“Lewis”) has closed an additional four condominium lots for 68 single-family homes with one of the United States’ leading homebuilders, Lennar (NYSE: LEN). Lennar is one of the primary builders in the initial 632 residential units of the Company’s Harvest at Limoneira project.\n\n\nHarold Edwards, President and Chief Executive Officer, stated, \"We are very excited to announce additional lot closings totaling 354 residential units, with one of the nation’s largest homebuilders, Lennar. We announced in October 2018 our relationship with Lennar and are very pleased with the strong momentum our real estate project, Harvest at Limoneira, has shown this year with 144 residential units closed in fiscal 2020.”\n\n\nLennar is expanding its investment in Harvest at Limoneira project with the purchase of four additional condominium lots for 68 single-family homes. Lennar plan to build three two-story homes ranging from 2,213 to 2,452 square feet on these new lots.\n\n\nIncluding today’s announcement, Lennar has now purchased a total of 187 residential units within Harvest at Limoneira, comprised of 55 single-family lots and eight condominium lots that include 132 single-family residences.\n\n\nHarvest at Limoneira is a well-balanced, comprehensively designed community near the Pacific Ocean. The amazing views, parks and miles of hiking trails in addition to retail shops within walking distance is attracting strong interest from families throughout Southern California.\n\n\nAbout Limoneira Company\n\n\nLimoneira Company, a 126-year-old international agribusiness headquartered in Santa Paula, California, has grown to become one of the premier integrated agribusinesses in the world. Limoneira (lç moñ âra) is a dedicated sustainability company with 15,700 acres of rich agricultural lands, real estate properties, and water rights in California, Arizona, Chile and Argentina. The Company is a leading producer of lemons, avocados, oranges, specia...