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Stock Market & Financial Investment News

News Breaks
May 15, 2014
08:12 EDTLGIHLGI Homes reports Q1 EPS 22c, consensus 14c
Reports Q1 revenue $75.9M, consensus $73.87M.
News For LGIH From The Last 14 Days
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September 30, 2014
18:39 EDTLGIHLGI Homes to acquire real estate assets of Oakmont Home Builders
In a move to establish a strong presence in the Charlotte, North Carolina new home marketplace, LGI Homes announced that the company has signed a definitive agreement to acquire the real estate assets of Oakmont Home Builders and its affiliate for a purchase price, subject to adjustment, of approximately $15M, net of assumed liabilities. In addition, Oakmont also will receive an earn-out based on home closings and the timing of such closings through December 31, 2017. Focusing on first time homebuyers Oakmont specializes in award winning, quality built, affordable new homes and townhomes in Charlotte. With this acquisition which is subject to customary closing conditions, LGI Homes will acquire approximately 150 homes under construction, along with approximately 1,000 owned and controlled lots that will be available for future sales as the company expands operations in Charlotte. The acquisition, which is expected to close later this week, will allow LGI Homes to quickly bring new homes to market in Charlotte to accommodate surging buyer demand.

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