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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Lennar Corporation
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(Name of Issuer)
Common Stock, $.1 par value
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(Title of Class of Securities)
526057104
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(CUSIP Number)
Page 1 of 10 Pages
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- --------------------
CUSIP NO.
526057104
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- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Goldman, Sachs & Co.
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2. Check the Appropriate Box if a Member of a Group
(a)
-----
(b)
-----
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3. SEC Use Only
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4. Citizenship or place of Organization
New York
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Number of 5. Sole Voting Power
Shares
Beneficially 0
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Owned By 6. Shared Voting Power
Each
Reporting 2,463,300
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Person With 7. Sole Dispositive Power
0
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8. Shared Dispositive Power
2,689,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
2,689,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
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11. Percent of Class Represented by Amount in Row (9)
10.3%
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12. Type of Reporting Person
BD-PN-IA
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Page 2 of 10 Pages
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CUSIP NO.
526057104
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Goldman Sachs Group, L.P.
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2. Check the Appropriate Box if a Member of a Group
(a)
-----
(b)
-----
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3. SEC Use Only
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4. Citizenship or place of Organization
Delaware
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Number of 5. Sole Voting Power
Shares
Beneficially 0
-----------------------------------------
Owned By 6. Shared Voting Power
Each
Reporting 2,463,300
-----------------------------------------
Person With 7. Sole Dispositive Power
0
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8. Shared Dispositive Power
2,689,000
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
2,689,000
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
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11. Percent of Class Represented by Amount in Row (9)
10.3%
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12. Type of Reporting Person
HC-PN
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Page 3 of 10 Pages
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Item 1(a). Name of Issuer:
Lennar Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
700 Northwest 107th Avenue
Miami, FL 33172
Item 2(a). Name of Persons Filing:
Goldman, Sachs & Co. and The Goldman Sachs Group, L.P.
Item 2(b). Address of Principal Business Office or, if None, Residence:
85 Broad Street
New York, NY 10004
Item 2(c). Citizenship:
Goldman, Sachs & Co. - New York
The Goldman Sachs Group, L.P. - Delaware
Item 2(d). Title and Class of Securities:
Common Stock, $.1 par value
Item 2(e). CUSIP Number:
526057104
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-
2(b), check whether the person filing is a :
(a).X Broker or dealer registered under Section 15 of the Act,
Goldman, Sachs & Co.
(b). Bank as defined in Section 3(a)(6) of the Act,
(c). Insurance Company as defined in Section 3(a)(19) of the Act,
(d). Investment Company registered under Section 8 of the Investment
Company Act,
(e).X Investment Adviser registered under Section 203 of the Investment
Advisers Act of 1940,
Goldman, Sachs & Co.
(f). Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or Endowment Fund; see 13d-1(b)(1)(ii)(F),
Page 4 of 10 Pages
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(g).X Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G);
see Item 7,
The Goldman Sachs Group, L.P.
(h). Group, in accordance with Rule 13d-1(b)(ii)(H).
Item 4. Ownership.*
(a). Amount beneficially owned:
See the response(s) to Item 9 on the attached cover page(s).
(b). Percent of Class:
See the response(s) to Item 11 on the attached cover page(s).
(c). Number of shares as to which such person has:
(i). Sole power to vote or to direct the vote:
See the response(s) to Item 5 on the attached
cover page(s).
(ii). Shared power to vote or to direct the vote:
See the response(s) to Item 6 on the attached
cover page(s).
(iii). Sole power to dispose or to direct the disposition of:
See the response(s) to Item 7 on the attached
cover page(s).
(iv). Shared power to dispose or to direct the disposition of:
See the response(s) to Item 8 on the attached
cover page(s).
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not Applicable
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on by
the Parent Holding Company.
See Exhibit (99.2)
Item 8. Identification and Classification of Members of the Group.
Not Applicable
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* The Goldman Sachs Group, L.P. ("GS Group") and Goldman, Sachs & Co.
("Goldman Sachs") each disclaim beneficial ownership of the Common Stock
beneficially owned by (i) managed accounts and (ii) certain investment limited
partnerships, of which a subsidiary of GS Group or Goldman Sachs is the general
partner or managing general partner, to the extent partnership interests in such
partnerships are held by persons other than GS Group, Goldman Sachs or their
affiliates.
Page 5 of 10 Pages
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Item 9. Notice of Dissolution of Group.
Not Applicable
Item 10. Certification.
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to
above were acquired in the ordinary course of
business and were not acquired for the purpose of
and do not have the effect of changing or
influencing the control of the issuer of such
securities and were not acquired in connection with
or as a participant in any transaction having such
purpose or effect.
Page 6 of 10 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Date: September 12, 1997
THE GOLDMAN SACHS GROUP, L.P.
By: /s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN, SACHS & CO.
By: /s/ Hans L. Reich
-----------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
Page 7 of 10 Pages
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INDEX TO EXHIBITS
Exhibit No. Exhibit
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99.1 Joint Filing Agreement, dated September 12,1997, between The
Goldman Sachs Group, L.P. and Goldman, Sachs & Co.
99.2 Item 7 Information
Page 8 of 10 Pages
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EXHIBIT (99.1)
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) promulgated under the Securities
Exchange Act of 1934, the undersigned agree to the joint filing of a Statement
on Schedule 13G (including any and all amendments thereto) with respect to the
shares of common stock, $.1 par value of Lennar Corporation, and further agree
to the filing of this agreement as an Exhibit thereto. In addition, each party
to this Agreement expressly authorizes each other party to this Agreement to
file on its behalf any and all amendments to such Statement on Schedule 13G.
Date: September 12, 1997
THE GOLDMAN SACHS GROUP, L.P.
By: /s/ Hans L. Reich
------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN, SACHS & CO.
By: /s/ Hans L. Reich
------------------------------
Name: Hans L. Reich
Title: Attorney-in-fact
Page 9 of 10 Pages
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EXHIBIT (99.2)
ITEM 7 INFORMATION
Goldman, Sachs & Co. is a broker or dealer registered under Section 15 of
the Act and an investment adviser registered under Section 203 of the Investment
Advisers Act of 1940.
Page 10 of 10 Pages
