posted
Gold Leaf Homes Signs $24.5 Million Contract to Build up to 70 Homes for Legendary Oaks Gold Leaf Homes, Inc., (OTCBB:BLSH) announced today that the Company has signed an agreement with Legendary Oaks, a real estate and residential community developer with operations in California and Texas, to build up to 70 residences in the Hempstead, TX area. Under the terms of the agreement, Gold Leaf Homes will initially build 35 homes for Legendary Oaks, and upon completion will have an option to build an additional 35 homes. With an average estimated purchase price of between $360,000 and $370,000, the contract represents an estimated total value in excess of $24.5 million in revenues to Gold Leaf Homes.
Gold Leaf Homes CEO Tom Redmon, stated, "We are very excited to have the opportunity to build for such a well-respected developer as Legendary Oaks. It is a testament to our capabilities and standing in the building community and I look forward to completing this contract and signing many more like it."
About Gold Leaf Homes
Gold Leaf Homes is a 9 year old residential home builder based in Magnolia, Texas. The Company currently builds and develops primary and vacation residences in the state of Texas with values up to $1 Million. Gold Leaf's growth strategy will include organic growth in the development of complete residential communities as well as through acquisition of other regional builders to expand geographic footprint in residential, vacation and commercial building. Gold Leaf Homes is pursuing an acquisition growth strategy in an effort to secure increased market share from competitors such as D.R. Horton, Inc. (NYSEHI), Toll Brothers, Inc. (NYSE:TOL), Pulte Homes, Inc. (NYSE:PHM) and Lennar
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
