Home builder to acquire division of Carina Corp.

Tuesday, Aug. 2, 2005 | 11:05 a.m.

Miami-based Lennar Corp., which builds homes in the Las Vegas Valley under the Lennar and U.S. Home brands, will acquire the Lamplight Homes division of Las Vegas-based Carina Corp.

Sources with both companies confirmed the deal this morning. A formal announcement of the deal was expected as early as this afternoon, and the deal is expected to close later this summer. Financial terms were not disclosed.

The transaction does not include the commercial developments at The Village at Centennial Springs, a 41-acre, mixed-use project in the northwest part of the Las Vegas Valley.

According to research conducted by In Businness Las Vegas earlier this year, Carina reported about 270 home closings in 2004. Lennar/U.S. Home reported about 1,200 closings in 2004.

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