Legends Business Group Inc (OTCMKTS:LGBS) is one of the companies which has been a major player in the land development space for some time and this morning the company has come into focus once again following a major new development.
The company announced that it had been successful in completing the acquisition of as much as 30 lots of land in the Boise, Idaho region for a sum of $3 million. The company has been on a land acquisition spree throughout the course of 2022. The latest acquisition took the total number of lots acquired for the year so far to as many as 166. The company spent a total of $16.6 million combined on the acquisitions.
It was a major new development and also demonstrates the fact that Legends Business Group is still determined to be on its growth path this year. It has also been pointed out that the company has been growing at an unprecedented rate in recent times and on top of that, its financial health remains sound as well.
Hence, it is going to be interesting to see if the latest round of acquisitions sparks interest from investors in the coming days or not. In its press release today, Legends Business Group noted that it was looking to expand its business considerably in order to cement its reputation as a successful developer of land in the real estate sector.
In this context, the company also noted that the shortage of housing in the real estate market is the sort of opportunity that Legends Business Group had been looking for. The company seeks to leverage its knowledge of the market and its financial resources to swoop down on this opportunity fairly quickly. It may now be a good move for investors to consider adding the Legends Business Group stock to their watch lists.
