Lennar completed the $6bn spin-off of Millrose Properties.

Lennar, a company that constructs and sells single-family attached and detached homes, as well as buys and sells residential land, completed the $6bn spin-off of Millrose Properties. "With today's successful launch of Millrose Properties, we are very excited to advance Lennar's strategy of becoming a pure-play land-light manufacturer of homes. The spin-off of Millrose Properties is a significant milestone for Lennar and the industry, and we look forward to the Millrose team building a Lennar solution, as well as an entire industry solution, and creating an exceptional, land banking platform that will drive accretive yield growth as it expands," Stuart Miller, Lennar Executive Chairman and Co-CEO.