Business
Limoneira’s Joint Venture with Lewis Group of Companies Announces Additional Lot Closings of 30 Residential Units with National Home Builder K. Hovnanian® Homes
Joint Venture Has Now Closed 428 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 428 Residential Unit Sales\n\n SANTA PAULA, Calif.--(BUSINESS WIRE)--\nLimoneira Company (the “Company” or “Limoneira”) (Nasdaq: LMNR), a diversified citrus growing, packing, selling 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 30 residential homesites with K. Hovnanian® Homes. K. Hovnanian® Homes is one of the primary builders in Phase 1, currently comprised of 586 residential units, of the Company’s Harvest at Limoneira project.\n\nHarold Edwards, President and Chief Executive Officer, stated, \"We are very pleased to announce these additional 30 lot closings with our respected guest builder, K. Hovnanian® Homes. Our joint venture has closed 428 residential units to date, and we previously announced we expect, at least, another 32 unit sales by June 2021.”\n\nIncluding today’s announcement, K. Hovnanian® Homes has now purchased sixty single-family lots within Harvest at Limoneira and they intend to build three different floor plans utilizing three distinct architectural elevations.\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\nAbout Limoneira Company\n\nLimoneira Company, a 127-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 15,400 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, specialty citrus and other crops that are enjoyed throughout the world. For more about Limoneira Company, visit www.limoneira.com.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statemen...