Stratford Land Announces Sale of Residential Land to Lennar Corporation in Euless, Texas

DALLAS - June 17, 2014 - PRLog -- National builder Lennar Corporation (http://www.lennar.com/) has purchased approximately 13 additional acres in the Bear Creek Riverwalk development in Euless, Texas. The development is located at the northwest corner of Highway 183 and Highway 360, adjacent to DFW International Airport, and is zoned for single family residential, multi-family and commercial use. Andrew Prine of Stratford Group, LLC, and Tim Coltart of Realty Capital Management, LLC, brokered the deal.

“We are very pleased with the positive response to our Dominion at Bear Creek Development, and we are happy to expand our commitment to this community,” said Greg Urech, Vice President of Land & Acquisitions for Lennar.

In 2013, Lennar acquired 55 acres to develop Dominion at Bear Creek which will consist of approximately 200 homes. Lennar’s latest purchase marks the third land sale in Bear Creek Riverwalk, a property acquired by Stratford Land (http://stratfordland.com/)in April 2011.  On the most recently purchased land, Lennar plans to build 60 homes with groundbreaking expected to begin in early 2015.

“The homes at Villas of Bear Creek will be a new product type for Lennar,” added David Aughinbaugh, Community Development Manager for Lennar. “We are proud to offer home designs and features that appeal to today’s demanding Dallas-Fort Worth area homebuyer.”

“Stratford is proud to have Lennar, one of the most recognized builders in the nation for both size and financial strength, commit  to build more homes in Bear Creek Riverwalk,” said Steve Sanders, Stratford Land’s senior investment manager for Texas. “Lennar’s construction plans are beneficial for the city of Euless, providing an appealing selection of home styles for local buyers, and we are pleased to have them as one of Bear Creek Riverwalk’s builders.”

Stratford expects the commercial development will follow the residential as is common in mixed use communities.

Along with its decades of proven success as land investment managers, Stratford Land’s financial strength enables it to acquire and hold land during various economic cycles and to reposition land to its highest and best use.

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About Lennar Corporation

Lennar Corporation, founded in 1954, is headquartered in Miami, Florida and is one of the nation’s leading builders of quality homes for all generations. Lennar builds affordable, move-up and retirement homes in Communities that cater to almost any lifestyle – such as urban, golf course, Active Adult or suburban Communities. Lennar builds homes in 18 different states in some of the finest markets.

About Stratford Land

Stratford Land has more than 25 years of successful land investment history on behalf of institutional investors. Based in Dallas, Texas, the fund focuses on acquiring properties in high-growth corridors in Texas, Arizona, Southern California, Colorado, Tennessee and the eastern seaboard from North Carolina to Florida. Offices are currently located in Dallas, Atlanta and Phoenix. For more information, please visit www.stratfordland.com.