Company: LEN
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118869
Chunk: 8

Company: LENNAR CORP /NEW/
Filing Date: 2025-05-13
Form: 424B5
Chunk 8
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 they are issued. As of February 28, 2025, the secured debt of our subsidiaries and the unsecured debt of our 
 non-guarantor subsidiaries totaled $1.64 billion. As of February 28, 2025, we had outstanding senior notes which we had sold into the capital markets over a number of years totaling $1.95 billion.     |

S-3

| Guarantees | Each of our existing and future wholly-owned (i.e., directly or indirectly 100% owned) subsidiaries will guarantee the Notes if that Subsidiary guarantees any Credit Facilities or any Capital Markets Indebtedness (each, as defined below) of us     
 (i.e., Lennar Corporation) or guarantees the obligations of any subsidiary as a guarantor of such indebtedness or individually in an aggregate principal amount in excess of $100 million. The guarantees by all the subsidiaries that are              
 guaranteeing the Notes at any time are or will be full and unconditional and joint and several. To the extent these guarantees are effective when the Notes are issued, or become effective after that, they may subsequently be released under limited 
 circumstances. At the date of this prospectus supplement, all of our wholly-owned subsidiaries (other than our subsidiaries that (1) engage in the mortgage banking business, (2) own, finance, manage or service real estate assets, (3)               
 engage in the development, investment and management of commercial or mixed use properties, (4) engage in the development, investment and management of multi-family rental properties, (5) engage in the installation, development, ownership,         
 servicing, sale or lease of solar power systems or sale of solar power, (6) are prohibited from delivering a guarantee by law, rule, regulation or an agreement, or (7) individually have a net worth of less than $100 million and                     
 collectively have an aggregate net worth of not more than $500 million) guarantee our obligations under the Revolving Credit Agreement (see “Other Indebtedness”). Accordingly, all of the Subsidiaries that guarantee our obligations under            
 the Revolving Credit Agreement will guarantee the Notes when they are issued. See “Description of Notes—The Guarantees.”                                                                                                                                |

| Redemption at our Option | Prior to June 30, 2030 (the “Par Call Date”), we may redeem the Notes, in whole or in part, at any time and from time to time, at a redemption price equal to the greater of (1) (a)