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PLANO, Texas, Aug. 29, 2019 (GLOBE NEWSWIRE) -- Green Brick Partners, Inc. (Nasdaq: GRBK) (“Green Brick”) is pleased to announce that Green Brick Partners’ subsidiary, Southgate Homes, has expanded into Lucas, Texas with its newest community, Brockdale Estates.
Southgate plans to build 44 homes in the community, ranging from 2,841-3,995 square feet with 3-4 bedrooms and 3-4.5 bathrooms. The company is offering 7 oversized one-story plans and anticipates having move in ready homes as early as October 2019. Home prices in the coveted Love Joy ISD community start from the mid $500’s.
“Brockdale Estates is the perfect community for buyers seeking luxury homes with ample flexibility in design,” said Jay Hankla, President of Southgate Homes. “Our goal at Southgate is to offer semi-custom luxury homes and build on your lot opportunities. Each of our floorplans is incredibly customizable and buyers are able to create one-of-a-kind homes by customizing our award-winning designs.”
The lakeside community is within minutes of some of Collin County's best shopping, dining, and entertainment venues - and the immediate area offers a wealth of opportunities to immerse buyers in the local lifestyle.
“We are pleased to continue funding Southgate Homes’ growth. With their anticipated expansion into Prosper and ongoing expansion in Frisco, we are expecting big things from Southgate Homes in 2020 and beyond,” said Jim Brickman, CEO of Green Brick Partners.
Southgate’s model home, located at 410 Lakeshore Blvd, Lucas Texas, is now open 10:00 am – 6:00 pm Monday through Saturday, and 12:00 pm – 6:00 pm on Sundays. In addition to its community in Lucas, Southgate Homes can be found in Allen, Frisco, Prosper, Argyle, Haslet and Sunnyvale, TX.
About Green Brick Partners, Inc.:
Green Brick Partners, Inc. (Nasdaq: GRBK) is a diversified homebuilding and land development company. Green Brick owns a controlling interest in five homebuilders in Dallas, Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Centre Living Homes, and Trophy Signature Homes), as well as a homebuilder in Atlanta, Georgia (The Providence Group) and a homebuilder in Port St. Lucie, Florida (GHO Homes). Green Brick also owns a noncontrolling interest in Challenger Homes in Colorado Springs, Colorado and retains interests in related financial services platforms, including Green Brick Title, Providence Group Title, and Green Brick Mortgage. The Company is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing, and sales for its residential neighborhoods and master planned communities. For more information about Green Brick Partners Inc.’s homebuilding partners, please visit https://greenbrickpartners.com/team-builders/.
Forward-Looking and Cautionary Statements:
Any statements in this press release about Green Brick’s expectations, beliefs, plans, objectives, prospects, financial condition, assumptions or future events or performance that are not historical facts are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as “may,” “will,” “should,” “predicts,” “potential,” “expects,” “future,” “positioned,” “believes,” “projects,” “estimates” and similar expressions, as well as statements in the future tense. These statements are based on assumptions that Green Brick has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances, as of the date of this press release. All such forward-looking statements involve estimates and assumptions that are subject to factors that could cause actual results to differ materially from the results expressed in the statements, and you should not place undue reliance on any such forward-looking statements. Among the factors that could cause actual results to differ materially are the following: general economic conditions, seasonality, cyclicality and competition in the homebuilding industry; the failure to recruit, retain and develop highly skills and competent employees; management and integration of acquisitions; labor and raw material shortages; an inability to acquire land for reasonable prices; an inability to develop and sell communities; government regulation risks; mortgage financing availability and volatility; severe weather or natural disasters; difficulty in obtaining sufficient capital; poor relations with community residents; and our debt and related service obligations. Additional factors that could cause actual results to differ are discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s annual and quarterly reports filed with the Securities and Exchange Commission. Green Brick undertakes no obligation to update any forward-looking statement except as required by law.