M/I Homes, Inc. Announces Entry into Fort Myers/Naples Market

Rhea-AI Summary

M/I Homes, Inc. (NYSE:MHO) announced its entry into the Fort Myers/Naples, Florida market on January 25, 2023. Kevin Brown has been appointed Area President to lead this expansion. The company plans to open its first community shortly and expects two additional communities by mid-year. CEO Robert H. Schottenstein expressed optimism about the growth potential in this dynamic region, building on the success of existing operations in Orlando, Tampa, and Sarasota. M/I Homes is recognized as one of the nation's top homebuilders, with a presence across several major U.S. markets.

Positive

• Expansion into the growing Fort Myers/Naples market, indicating growth strategy.
• Appointment of a seasoned leader, Kevin Brown, enhances operational efficiency.

Negative

• None.

COLUMBUS, Ohio, Jan. 25, 2023 /PRNewswire/ -- M/I Homes, Inc. (NYSE:MHO) announced that it is commencing operations in the Fort Myers/Naples, Florida market and that Kevin Brown has been named Area President.

Robert H. Schottenstein, Chief Executive Officer and President, commented, "We are excited to announce that we are commencing operations in the Fort Myers/Naples market. Our existing operations in Orlando, Tampa and Sarasota, Florida have been very successful for many years and opening in Fort Myers/Naples should allow us to build upon that success as we further expand along the southwest coast of Florida. Fort Myers/Naples is a dynamic and growing market and we are excited to have Kevin Brown, a proven leader with more than 15 years of homebuilding experience in the Fort Myers/Naples market, lead us in this effort."

The Company will soon open its first community within the Fort Myers/Naples division, and expects to be open in two additional communities by mid-year.

M/I Homes, Inc. is one of the nation's leading homebuilders. The Company has homebuilding operations in Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Detroit, Michigan; Tampa, Sarasota, Orlando and Fort Myers/Naples, Florida; Austin, Dallas/Fort Worth, Houston and San Antonio, Texas; Charlotte and Raleigh, North Carolina and Nashville, Tennessee.

Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "anticipates," "targets," "envisions," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements.  These statements involve a number of risks and uncertainties. Any forward-looking statements that we make herein and in any future reports and statements are not guarantees of future performance, and actual results may differ materially from those in such forward-looking statements as a result of various factors, including, without limitation, factors relating to the economic environment, interest rates, availability of resources, competition, market concentration, land development activities, construction defects, product liability and warranty claims and various governmental rules and regulations, as more fully discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2021, as the same may be updated from time to time in our subsequent filings with the Securities and Exchange Commission.  All forward-looking statements made in this press release are made as of the date hereof, and the risk that actual results will differ materially from expectations expressed herein will increase with the passage of time. We undertake no duty to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.  However, any further disclosures made on related subjects in our subsequent filings, releases or presentations should be consulted.

View original content to download multimedia:https://www.prnewswire.com/news-releases/mi-homes-inc-announces-entry-into-fort-myersnaples-market-301729733.html

SOURCE M/I Homes, Inc.

FAQ

What new market is M/I Homes entering?

M/I Homes is entering the Fort Myers/Naples market in Florida.

Who is the new Area President for M/I Homes in Fort Myers/Naples?

Kevin Brown has been appointed as the Area President for M/I Homes in the Fort Myers/Naples market.

When did M/I Homes announce its expansion into Fort Myers/Naples?

M/I Homes announced its expansion into Fort Myers/Naples on January 25, 2023.

How many communities will M/I Homes open in Fort Myers/Naples?

M/I Homes expects to open its first community soon and two additional communities by mid-year.

What is M/I Homes known for?

M/I Homes is one of the nation's leading homebuilders with operations across multiple U.S. markets.