Miami developer Lennar Corp. to spend more than $1 billion on former base. (18-FEB-05) The Miami Herald (Miami, Florida) (via Knight-Ridder/Tribune Business News)

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Miami developer Lennar Corp. to spend more than $1 billion on former base.

Publication: The Miami Herald (Miami, Florida) (via Knight-Ridder/Tribune Business News)

Publication Date: 18-FEB-05

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Byline: Matthew Haggman

Feb. 18--Lennar Corp. is spending more than $1 billion for a former Marine Corps base in Southern California, in a deal that will allow the Miami developer to build a 3,400-home community in one of the country's hottest real estate markets.

With an offer of $650 million for the land, Lennar won the bidding Thursday in an online auction by the federal government for the 3,718-acre El...

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