Lennar Corporation, headquartered in Miami, has purchased 2,400 acres of land in the master planned community of St. Charles. The land is approved for up to 7,000 entitled residential home sites in the 9,200 acre mixed use community in Waldorf, MD. Located just 13 miles south of the Capital Beltway, the property transferred includes the majority of the remaining undeveloped land at St. Charles. The seller, an affiliate of Federal Capital Partners, will retain ownership of its 2,661 apartment portfolio in 17 communities in St. Charles along with several parcels planned for multifamily, retail and commercial uses. “Lennar has been the leading home builder in St. Charles for decades, maintaining consistency in the types of walkable, amenity-rich neighborhoods that have come to characterize St. Charles,” said St. Charles Companies President, Matthew M. Martin. “Lennar understands the extraordinary opportunity and unique characteristics that define St. Charles.”
