Lennar, Chinese Bank Deal Falls Apart
- April 14, 2013
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An agreement for the state-supported China Development Bank to invest $1.7 billion in the redevelopment of two former Navy bases in San Francisco, Treasure Island and Hunters Point Naval Shipyard, has collapsed amid demands by the Chinese for more control over the projects than Lennar Corp. was willing to hand over. Lennar had reached a tentative deal with the Chinese bank last year to finance construction of thousands of homes and offices at the two sites …

