LGI Homes Expands Austin Activity Bigly

AUSTIN – (Realty News Report) –  LGI Homes, a publicly-traded builder based in The Woodlands, is expanding in Austin, one of the hottest housing markets in the nation.

LGI Homes recently acquired the real estate assets of Buffington Homebuilding Group, one of the largest privately held homebuilders in Austin for approximately $40 million in cash. The acquired assets include over 100 homes under construction, over 350 finished lots and control of approximately 150 additional finished lots that will be available for future sales.

“With its impressive portfolio of communities and strong land positions, Buffington is the ideal opportunity for us to expand our growth in the attractive Central Texas market. We believe Buffington is a great compliment to our existing Austin communities and the LGI Homes family,” said Eric Lipar, Chairman and Chief Executive Officer of LGI Homes.

In addition, LGI Homes announced that its upscale Terrata Homes is now selling in the Austin market with the opening of its newest community, Spicewood Trails.

Home prices at Spicewood Trails start in the mid-$700s.

At Spicewood Trails, Terrata Homes newly designed collection includes five floor plans ranging in size from 2,643 SF to 3,976 SF. The project has one-acre lots.

LGI Homes engages in the design, construction and sale of homes in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, Nevada, West Virginia, Virginia and Pennsylvania. Since 2018, LGI Homes has been ranked as the 10th largest residential builder in the United States based on number of units closed.

In 2020, LGI Homes recorded $323.9 million in net income, up 81.3 percent from 2019. The Texas-based home builder, sold 9,339 homes in 2020,

July 20, 2021 Realty News Report Copyright 2021

Image: Courtesy: LGI Homes Inc.

For more about Texas real estate, check out the book Houston 2020: America’s Boom Town – An Extreme Close Up  by Ralph Bivins. Available on Amazon  http://tiny.cc/4a2g6y  

Houston 2020 Ebook version  https://tinyurl.com/4xm7z8b5     

File: LGI Homes Expands Austin Activity

File: (2) Spicewood. LGI Homes Expands Austin Activity, Terrata Homes. Eric Lipar

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