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Rockhill Capital & Investments Sells 1,800-Acre New Fairview Property to Lennar

1. Lennar acquires 1,807 acres in New Fairview, Texas. 2. Plans for over 4,000 homes and multifamily units announced. 3. Development starts in 2025, with homes available by 2028. 4. Community designed for sustainable living and various amenities. 5. Ranchland aims to be a destination for families.

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FAQ

Why Bullish?

The acquisition expands Lennar's land portfolio, potentially boosting revenues. Similar past projects have positively affected stock prices.

How important is it?

Large land deals typically signal growth strategies and profitability for Lennar. This acquisition aligns with market trends favoring new housing developments.

Why Long Term?

This development will take years to realize sales impacts. Long-term growth seen in new community developments historically supports higher valuations.

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LENPHMDHI
FRISCO, Texas--(BUSINESS WIRE)--North Texas real estate developer Rockhill Capital & Investments today announced the sale of a 1,807-acre property in New Fairview, Texas, to Lennar. Lennar plans to bring over 4,000 homes with additional multifamily units to the site, now called Ranchland, near County Line Road and Farm to Market Road 407. Development is anticipated to begin in the summer of 2025, with new homes available in the summer of 2028, according to Lennar. “At Rockhill, we strive to identify desirable, high-potential land opportunities and work alongside cities to understand their own visions for growth,” said Ryan Griffin, principal and CEO at Rockhill Capital & Investments. “We worked closely with the City of New Fairview to envision a thriving new master-planned community. Lennar is the ideal builder to bring this project to life.” After acquiring the tract in 2022, the Rockhill team, including development consultant Ocie Vest of Southridge Park, led yearlong entitlement efforts, resulting in a planned development and city center that offers a complete and sustainable live-work-play environment. Ranchland is within Wise County and Denton County and in Northwest ISD and Decatur ISD school districts. It is located approximately 15 miles from Decatur, 20 miles from Denton, 30 miles from Fort Worth, and 45 miles from Dallas. "We’re incredibly excited to develop and open Ranchland in New Fairview, Texas. This community will offer something for everyone—beautiful homes for all stages of life, a vibrant town square, schools, parks, commercial spaces, and a host of amenities that bring people together. Ranchland is designed to be more than just a community; it’s a destination where families can grow, connect, and create lasting memories," says Greg Mayberry, Division President at Lennar. With the addition of the New Fairview land deal, Rockhill Capital & Investments is continuing to expand its portfolio as a land developer and construction management firm in North Texas. In Collin County, the company is at the helm of Uptown Celina, a 675-acre, 2,500-home community with homes now selling just north of beloved downtown Celina. In Grayson County, Rockhill is working with Covenant Development to deliver Sherman’s highly-anticipated Heritage Ranch, a 440-acre mixed-used master plan. Also in Grayson County, Rockhill is leading the way at Noble Ridge, a first-of-its-kind community for the city of Howe with 700 new homes. About Rockhill Capital & Investments Rockhill Capital & Investments is a respected commercial and residential turnkey developer in North Texas, offering deep land development and construction management expertise. Over the last decade, the company has contributed to the tremendous growth and development of the North Texas region and built a reputation for the careful planning, thought, and attention required to execute land development and construction projects well and help build thriving communities. For more information, visit www.rockhillinvestments.com. About Lennar Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.

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