One of the nation’s largest homebuilders, Lennar, is spinning off its land assets into a new public REIT called Millrose.

This is pretty interesting because:

1.There aren’t many land REITs out there, and since it won’t earn rent, I wonder what companies they’ll compare it to to arrive at valuation.

https://t.co/YaehD0J9wz will the dividend work? Land doesn’t generate rental income, so it’ll likely depend on cash from selling or developing land.

It’s a new way to invest in land—publicly traded and potentially paying dividends. Definitely one to watch!