BOXABL has entered into a multi-year purchase agreement with LC Vegas Acquisitions covering up to 1,500 factory-built homes over a three-year period, representing the company’s largest announced residential purchase arrangement to date.
The companies expect purchases to occur in phases, with approximately 500 homes contemplated annually.
However, the agreement remains subject to project schedules, site readiness, regulatory approvals and additional performance conditions. It does not require that any homes ultimately be purchased.
LC Vegas Acquisitions is led by Co-Founder and Managing Partner Greg Palivos.
Members of the development team have previously developed, entitled or placed under construction thousands of residential units representing more than $1 billion of real estate across the U.S.
BOXABL plans to use its expanding product platform to configure homes for specific developments.
Production and delivery schedules will be determined based on individual project requirements.
The agreement represents another test of whether factory-built housing can move into larger residential communities by reducing construction time and standardizing manufacturing.
BOXABL’s flagship Casita is a 361-square-foot studio containing a full kitchen, bathroom and utilities and designed to unfold at a project site in less than an hour.
The company has also announced the smaller 120-square-foot Baby Box and is developing stackable and connectable units that can be combined into townhomes, multifamily properties and larger single-family residences.
The 1,500-home figure represents potential volume rather than a committed order backlog.
BOXABL explicitly cautioned that units can be delayed, reduced, modified or terminated and that actual revenue may differ materially from the maximum quantities described in the agreement.
KEY QUOTE:
“BOXABL’s manufacturing platform gives us a way to deliver attainable, high-quality housing at a pace and price point that traditional construction can’t match.”
Greg Palivos, Co-Founder And Managing Partner Of LC Vegas Acquisitions
