LGI Homes Reports November 2020 Home Closings and Updates Full Year 2020 Home Closings Guidance

THE WOODLANDS, Texas, Dec. 03, 2020 (GLOBE NEWSWIRE) — LGI Homes, Inc. (NASDAQ: LGIH) today announced 960 home closings in November 2020, up from 748 home closings in November 2019, representing year-over-year growth of 28.3%. In addition, the Company ended the first eleven months of 2020 with 7,709 home closings, a 16.1% increase over 6,638 home closings during the first eleven months of 2019.

As of the end of November 2020, the Company had 114 active selling communities.

“We are proud to announce another record breaking month of home closings,” said Eric Lipar, Chief Executive Officer and Chairman of LGI Homes. “This was our best November on record and the second best month of closings overall in our history. Based on this outstanding November performance and our current view of the backlog available to close in December, we are updating our full year closings guidance to reflect our expectation of

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Store closings, foreclosures cut CBL income by 30.5% in 3rd quarter

CBL & Associates Properties said all of its retail centers are open for business and fully operational, but the company reported Tuesday that net operating income from its shopping malls and other properties fell by more than 30% in the third quarter compared with a year ago due to lower sales volumes, store closings and retailer delays in payments.

The Chattanooga-based shopping center development firm, which filed for bankruptcy earlier this month to reorganize its finances under court protection in a Chapter 11 proceeding, said its funds from operations (FFO) in the third quarter, as adjusted, fell to 4 cents per share compared with 34 cents a share a year ago. CBL’s revenues dropped by more than 30% from $187.3 million in the third quarter of 2019 to $129.9 million in the third quarter of 2020.

CBL and other real estate developers have been hurt by uncollectible revenue from tenants

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LGI Homes Reports October 2020 Home Closings

THE WOODLANDS, Texas, Nov. 04, 2020 (GLOBE NEWSWIRE) — LGI Homes, Inc. (NASDAQ: LGIH) today announced 818 home closings in October 2020, up from 715 home closings in October 2019, representing year-over-year growth of 14.4%. In addition, the Company ended the first ten months of 2020 with 6,749 home closings, a 14.6% increase over 5,890 home closings during the first ten months of 2019.

As of the end of October 2020, the Company had 111 active selling communities.

About LGI Homes, Inc.

Headquartered in The Woodlands, Texas, LGI Homes, Inc. 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 and Virginia. Since 2018, LGI Homes has been ranked as the 10th largest residential builder in the United States based on units closed. The Company has a notable

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