Lennar, a homebuilder based in Miami, Fla., is acquiring more land in California. In a recent deal, an entity affiliated with the firm acquired several lots in Fontana for $12.98 million. The seller in the transaction was an entity linked to Scottsdale, Ariz.-based AGWIP Asset Management, according to Vizzda records.
The recently acquired lot is located at the northwest corner of Sierra and Casa Grande avenues and includes 50 lots within the Gardens at the Arboretum, a master planned community within Fontana.
According to a landing page for the Arboretum on Lennar’s website, the master-planned community is made up of six collections called Blue Sage, Acacia, Silverberry, Wildrose, Azalea and Dayflower. Homes are selling with prices beginning in the mid $500,000’s range.
Overall, the Arboretum encompasses 531.3 gross acres, according to a page for the community on the City of Fontana’s website. At its completion, the area will be home to a maximum of 3,526 residential units, two school district sites, both private and public recreational facilities and an activity center.
“The development of the Arboretum will enhance the image of the area with the provision of new roads and signature landmark landscaping, landscaped parkways, and entry monuments. The Arboretum will have parks, gardens, and trails which will tie the community together,” the city’s website states.
Founded approximately 69 years ago, Lennar has housing developments in 26 states, according to its website. In 2022 alone, the firm developed approximately 66,400 homes.
