Multibank Structured Asset Transactions with the FDIC
Lennar Corporation and Rialto Capital
Representation of Lennar Corporation, one of the nation's largest homebuilders, in the closing of two multibank structured asset transactions with the Federal Deposit Insurance Corporation ("FDIC"). In a joint venture with the FDIC, Lennar acquired a 40% equity interest in two limited liability companies formed by the FDIC to manage the separate loan portfolios. The portfolios consist of approximately 5,500 distressed real estate loans from 23 failed bank receiverships and have a total outstanding balance of more than $3 billion.
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