Lennar Multifamily — Lennar's carrying value of investments decreased by 6.3% to $474.77M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 0.4%, from $472.67M to $474.77M. Over 4 years (FY 2021 to FY 2025), Multifamily — Lennar's carrying value of investments shows a downward trend with a -7.3% CAGR.
An increase reflects greater reliance on joint venture structures for project financing, while a decrease indicates divestment or project exits.
The balance sheet value of the multifamily segment's equity interests in joint ventures, partnerships, or unconsolidated...
Comparable to 'investments in unconsolidated entities' reported by firms using joint venture models for large-scale development.
len_segment_multifamily_lennar_s_carrying_value_of_investments| Q1 '21 | Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $691.33M | $682.82M | $654.03M | $661.25M | $638.56M | $631.51M | $648.13M | $635.50M | $629.65M | $623.27M | $599.85M | $586.44M | $561.89M | $544.64M | $503.30M | $472.67M | $518.45M | $519.51M | $506.57M | $474.77M |
| QoQ Change | — | -1.2% | -4.2% | +1.1% | -3.4% | -1.1% | +2.6% | -1.9% | -0.9% | -1.0% | -3.8% | -2.2% | -4.2% | -3.1% | -7.6% | -6.1% | +9.7% | +0.2% | -2.5% | -6.3% |
| YoY Change | — | — | — | — | -7.6% | -7.5% | -0.9% | -3.9% | -1.4% | -1.3% | -7.4% | -7.7% | -10.8% | -12.6% | -16.1% | -19.4% | -7.7% | -4.6% | +0.6% | +0.4% |