TELLA FIRMA FOUNDATIONS SURPASSES 1,000TH FOUNDATION MILESTONE

Tella Firma Foundations Surpasses  1,000th Foundation Milestone, Celebrates Installation at Lennar’s Parkside Development in Irving, Texas

Milestone signifies Tella Firma’s strategic move toward volume home builders

Lenar_Homes_TellaFirma(IRVING, Texas—May 17, 2017) Tella Firma Foundations (www.tellafirma.com) announced today that the company’s elevated foundation solution has been purchased and installed in 1,000 homes to date, as Tella Firma accelerates its growth strategy throughout Texas and the Southwest.

Tella Firma’s partnership with Lennar Homes exemplifies Tella Firma’s strategic transition to work with volume builders of subdivision communities, in addition to the company’s initial focus on custom home builders. Tella Firma signed an exclusive agreement with Lennar in 2015 to bring its elevated slab foundations to the Parkside development in Irving, Texas, marking the first such agreement to work with a volume builder. Subsequent agreements have included volume deals with Pacesetter Homes and Avi Homes, both for the Whisper Valley planned community in East Austin. As Tella Firma continues to ramp up this aspect of its growth strategy, the company expects to reach 10,000 foundation installations per year within the next five years.

“This achievement demonstrates the success of Tella Firma’s innovative solution, not only among custom home builders but among some of the nation’s most prominent production builders as well,” said Jim Fontaine, CEO of Tella Firma. “We are experiencing greater acceptance of our product among all home builders, not only because it represents a cost-effective option, but also because builders recognize that our foundations can be a key selling point for homebuyers based on the quality and long-term value.”

In many areas of Texas and the Southwest region, active soils can cause foundation problems due to movement and settlement. By using a field-tested, patented process of elevating a slab-on-grade foundation using piers, Tella Firma creates a protective void between the ground and the foundation itself. This application isolates the slab from active soils and guards it from unexpected movement. It also significantly reduces the risk of cracks and movement in conventional slabs that typically occur in later years.

“Lennar is known for its commitment to quality, value and integrity as the underlying foundation upon which our company was built,” said John Bishop, Vice President of Construction for Lennar Homes. “These principles are demonstrated further through our partnership with Tella Firma for the Parkside development. We have implemented the Tella Firma system in Parkside for almost two years, and have received positive feedback from our homebuyers.”

The Tella Firma foundation system is based on commercial engineering principles in practice for over 50 years. Tella Firma foundations utilize a green installation process to avoid the need for any type of chemical or water injection into the soil under the foundation. In addition, the air pocket created under the slab provides an insulation layer between the floor of the home and the ground.

About Lennar Homes

Lennar Corporation, founded in 1954, is one of the nation’s largest builders of quality homes for all generations. The Company builds affordable, move-up and retirement homes primarily under the Lennar brand name. Lennar’s Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of the Company’s homes and others. Lennar’s Rialto segment is a vertically integrated asset management platform focused on investing throughout the commercial real estate capital structure. Lennar’s Multifamily segment is a nationwide developer of high-quality multifamily rental properties. Previous press releases and further information about the Company may be obtained at the “Investor Relations” section of the Company’s website, www.lennar.com.

About Tella Firma Foundations

Dallas-based Tella Firma is a construction technology firm that is revolutionizing the way home foundations are built. Tella Firma gets its name from the Latin words meaning “strong home.” Foundations with the company’s product have been installed in residential and light commercial projects in Texas and Colorado, and the company continues to expand into new markets throughout the region. For additional information, visit tellafirma.com.