Miami-based homebuilder Lennar Corp. is holding advanced discussions with private equity firm Stone Point Capital LLC for the sale of its real-estate lending unit Rialto Capital Management LLC, The Wall Street Journal reported, citing sources familiar with the matter.

The value of the business being divested is unclear and there is no guarantee that a deal will take place, the publication added.

In April, Lennar tapped Wells Fargo and Deutsche Bank to look at strategic alternatives for Rialto, including a potential sale. The company said the move was in accordance with its strategy of spinning off or selling noncore subsidiaries to focus on its core homebuilding operations.

Lennar executive chairman Stuart Miller confirmed at an investor call last week that the company is assessing certain "attractive" offers that it has received for the unit. As a real estate investment and management company, Rialto focuses on distressed assets.

A Lennar spokeswoman declined to comment, while representatives of Stone Point and Rialto did not respond to requests for comment, according to the publication.

During the third quarter, Lennar reported an 81.9% year-over-year surge in its net attributable earnings to $453.2 million or $1.37 per share. The company also acquired homebuilding peer CalAtlantic Group Inc. in a $5.7 billion deal in February, making it the largest U.S. homebuilder, according to the earlier report.