Kaufman May Sell Apartment-Building Unit

Kaufman & Broad Home Corp., the largest U.S. home builder, said it’s considering selling a unit that builds affordable apartment communities in order to focus on its U.S. home-building business. The Los Angeles-based company retained Bank of America Securities as an advisor. The Kaufman & Broad Multi-Housing Group Inc. builds affordable apartment communities and is financed through tax credits. The company said it would be “premature” to speculate on the price or timing of any sale of the apartment unit and will continue to review its assets and operations. In September, the company said it was considering selling some or all of its operations in France and would use the proceeds to buy back stock in an attempt to boost its stock price. The Long Beach-based apartment group was formed in 1994 and since then has developed and/or invested in more than 7,000 units in the U.S. Shares rose 13 cents to close at $23.44 on the New York Stock Exchange.