Lennar posts quarterly profit, yearly loss 

The national homebuilder spearheading San Francisco’s biggest redevelopment project posted its first quarterly profit since early 2007.

Lennar Corp. made a $35.6 million profit in the final quarter of 2009, the company reported Thursday.

But last year was nonetheless dismal for the Miami-based company, which lost $417.1 million in 2009.

Lennar is the master developer of more than 700 acres of shipyard and other land in southeastern San Francisco. It is also involved in the redevelopment of Treasure Island.

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A daily newspaper covering San Francisco, San Mateo County and serving Alameda, Marin and Santa Clara counties.
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