Lennar Multifamily, a real estate investment unit of Lennar Corporation (LEN - Free Report) , in partnership with Resmark Apartment Living recently unveiled a luxury apartment project at Tempe Town Lake, Ariz. The apartment located south of the Tempe Center for the Arts on Rio Salado Parkway will have 328 units.
The project accommodates five story buildings. The residents will have easy access to two swimming pools, seating areas, fitness center, club house and shopping, dining and entertainment centers such as the Mill Avenue District and Tempe Marketplace.
The residents can also choose from various types of apartments ranging from studio to three bedrooms. The homes are provided with plank wood flooring with excellent finishing, cabinetry, granite or quartz countertops, and stainless steel appliances. The residents will also be able to enjoy easy access to downtown Tempe, metro Phoenix and the Sky Harbor International Airport.
Lennar strategically focuses on acquiring new home sites that would boost both margins and earnings. The company focuses on higher-margin well-positioned communities. The company’s solid land position places it well to meet growing demand, thus giving it a competitive edge over its peers. The company has enough land to meet requirements till 2014 and is now pursuing land opportunities for 2015 and beyond.
Lennar carries a Zacks Rank #1 (Strong Buy).
Other stocks in the homebuilding sector that are performing well and deserve a mention include D. R. Horton Inc. (DHI - Free Report) and Ryland Group Inc. , both carrying a Zacks Rank #1 (Strong Buy), and MDC Holdings Inc. (MDC - Free Report) carrying a Zacks Rank #2 (Buy).