Kaufman & Broad Forms Unit to Buy...
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Kaufman & Broad Forms Unit to Buy Land: Kaufman & Broad Home Corp., the Los Angeles-based home-builder, has formed a $53.4-million joint venture unit to buy California land suitable for residential development. The unit, Kaufman & Broad Land Development Venture Ltd. Partnership, is a 50-50 joint venture with a trust created by institutional clients of Heitman Advisory Corp., a unit of Heitman Financial Corp. Heitman is a real estate advisory, management and development company with offices in Chicago and Beverly Hills. The announcement did not identify the investors.
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