Benzinga | Apr 12, 2021 04:02PM EDT

Limoneira Joint Venture With Lewis Group Of Companies Reports Added Lot Closings At 30 Residential Units With Hovnanian Homes

Limoneira Company (the "Company" or "Limoneira") (NASDAQ:LMNR), a diversified citrus growing, packing, selling and marketing company with related agribusiness activities and real estate development operations, announced today that its 50%/50% real estate development joint venture with The Lewis Group of Companies ("Lewis") has closed an additional 30 residential homesites with K. Hovnanian(r) Homes. K. Hovnanian(r) Homes is one of the primary builders in Phase 1, currently comprised of 586 residential units, of the Company's Harvest at Limoneira project.

Harold Edwards, President and Chief Executive Officer, stated, "We are very pleased to announce these additional 30 lot closings with our respected guest builder, K. Hovnanian(r) Homes. Our joint venture has closed 428 residential units to date, and we previously announced we expect, at least, another 32 unit sales by June 2021."

Including today's announcement, K. Hovnanian(r) Homes has now purchased sixty single-family lots within Harvest at Limoneira and they intend to build three different floor plans utilizing three distinct architectural elevations.

Harvest at Limoneira is a well-balanced, comprehensively designed community near the Pacific Ocean. The amazing views, parks and miles of hiking trails in addition to retail shops within walking distance is attracting strong interest from families throughout Southern California.