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Published October 06, 2011, 2:06 a.m. EDT

Updated October 06, 2011, 2:06 a.m. EDT

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Lennar Corp. said that Jay Mantz has joined its wholly owned subsidiary, Rialto Capital Management, to oversee the company's real estate investment management business as Rialto's president.

The company also said that Bill Landis, who joined Rialto in 2008 as its chief investment officer, is taking on responsibilities for overseeing Rialto's asset management business as Rialto's chief operating officer.

Mantz joins Rialto after 18 years with Morgan Stanley where he ran Morgan Stanley's real estate investing business from 2000 to 2005.

He was subsequently promoted to global co-head of Morgan Stanley merchant banking, which included real estate, private equity and infrastructure investing activities.

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