Who owns Lennar Multifamily Venture Fund I LP (LMV I)

Lennar Multifamily Venture Fund I LP (LMV I) - Profile

Lennar Multifamily Venture Fund I LP is a closed end real estate fund that built and then held class A apartment communities in major United States markets. It was formed in 2015 by Lennar's multifamily arm alongside six institutional investors, among them foreign pension funds, sovereign wealth funds and insurers, reaching a first close of 1.1 billion dollars of equity in July 2015 and a final close at 2.2 billion in October 2016, and it was seeded with 19 undeveloped sites projected to yield 6,120 apartments. The strategy was develop to core: construct rental communities across roughly 25 high growth and gateway markets, run at about 50 per cent leverage, and hold the finished buildings for long term income rather than sell them once stabilised, over a three year investment period and an eight year fund life. Having reached the end of its contractual life, the partners decided in the second half of 2024 to wind the fund up, and 36 of its 38 rental projects had been sold to third party buyers by May 2026.

The disclosed stakes

One row per position. Where a holder reports the same company in two share classes, both rows are shown rather than summed, because the class is part of a position's identity.

Where each figure comes from

A private stake has no ownership form behind it, so the source is always the holder's own filing or disclosure. Anything modelled says so, with the arithmetic.

• Lennar Corporation (LEN), as of 31 May 2026. Lennar's Q2 FY2026 10-Q (Note 3) discloses Lennar's carrying value of its investment in LMV I as $69.706 million as of 31 May 2026 (filed figure), total fund equity commitments of $2,204.016 million and Lennar's own equity commitments of $504.016 million. Modelled ownership: 504.016/2,204.016 = 22.87%, a commitment-ratio proxy since the 10-Q does not state a direct ownership percentage for LMV I. source