THE WOODLANDS, Texas, July 15, 2014 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (Nasdaq:LGIH) today announced that it closed on the purchase of approximately 1,980 acres of land in Lancaster County, South Carolina on July 11, 2014, for an aggregate purchase price of approximately $15.4 million. Development of this single family residential community, located approximately 30 miles south of downtown Charlotte, North Carolina, is underway and construction on the information center is expected to begin in the fourth quarter of 2014.
"We are excited about our continued growth and expansion and pleased to bring our new move-up product to the Charlotte market," said Adam Corder, Southeast Division President of LGI Homes.
About LGI Homes, Inc.
Headquartered in The Woodlands, Texas, LGI Homes, Inc. engages in the design and construction of homes in Texas, Arizona, Florida, Georgia and New Mexico. LGI's core markets include Houston, San Antonio, Dallas/Fort Worth, Austin, Phoenix, Tampa, Orlando, Atlanta, Tucson and Albuquerque. For more information about the Company and its new home developments, please visit the Company's website at www.LGIHomes.com.
CONTACT: Investor Relations Taylor Renberg, (281) 210-2619 InvestorRelations@LGIHomes.comSource:LGI Homes