Benzinga | Jun 21, 2021 04:06PM EDT

Limoneira's Joint Venture with Lewis Group of Companies Announces Additional 32 Homesite Closings with National Home Builder Lennar

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 32 residential homesites. These homesites were purchased by Lennar, one of the primary guest builders in Phase 1. The Company's Harvest at Limoneira project currently comprises 586 residential units in its Phase 1 development.

Harold Edwards, President and Chief Executive Officer, stated, "We are very pleased to announce these additional 32 closings with our respected guest builder, Lennar. We have now announced 158 homesite closings in fiscal 2021 and expect additional closings later this year in Phase 1 of our development."

Including today's announcement, Lennar has now purchased a total of 263 single-family homesites within Harvest at Limoneira, and this is a continuation of the existing Vineland community with four different floor plans utilizing four distinct architectural elevations.

Harvest at Limoneira is a well-balanced, comprehensively designed community providing a range of new housing options near the Pacific Ocean. Boasting scenic views, and close proximity to parks, hiking trails and popular retail destinations, this exceptional community continues to attract strong interest from new home buyers throughout Southern California.