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Comstock Holding Cos Inc (CHCI) delivers innovative real estate solutions through residential development and strategic advisory services. This news hub provides investors and stakeholders with essential updates about the company's operations in the Washington, D.C. metro area and beyond.
Access authoritative information on CHCI's latest developments, including transit-oriented projects, public-private partnerships, and mixed-use community initiatives. Our curated news collection features official earnings announcements, leadership updates, and strategic collaborations that shape urban landscapes.
Key updates include residential construction milestones, asset management developments, and capital markets advisory activities. Stay informed about CHCI's progress in creating sustainable communities through integrated homebuilding and property management services.
Bookmark this page for streamlined access to verified CHCI news. Check regularly for updates on construction projects, financial disclosures, and operational advancements that demonstrate the company's commitment to transformative real estate solutions.
Comstock Holding Companies, Inc. (Nasdaq: CHCI) has announced two new office leases at The Hartford building in Arlington, Virginia. Essential Minerals Association (EMA) and International Business Initiatives (IBI) have signed leases totaling approximately 11,000 square feet. EMA advocates for companies in the minerals industry, while IBI is a woman-owned small business consulting firm. The Hartford, located at 3101 Wilson Boulevard, is adjacent to the Clarendon Station on Metro's Orange and Silver Lines.
These new tenants join an impressive roster of organizations at The Hartford, reinforcing its status as a highly sought-after office destination in Arlington. Tim Steffan, Comstock's Chief Operating Officer, expressed enthusiasm about the new additions, highlighting the property's diverse portfolio of corporate tenants.
Comstock Holding Companies (Nasdaq: CHCI) reported strong Q2 2024 results, showcasing continued growth in its asset-light, debt-free business model. Key highlights include:
- Revenue increased 20% to $10.8 million; YTD up 11% to $21.4 million
- Net income rose 99% to $0.9 million; YTD up 51% to $1.9 million
- Adjusted EBITDA grew 56% to $1.6 million; YTD up 16% to $3.1 million
- 103% increase in recurring fee-based Property & Parking Management revenue; YTD up 74%
- 24 additional Assets Under Management compared to prior year
- 6 new commercial leases executed in Q2, representing over 60,000 sqft of office and retail space
- Residential managed portfolio 97% leased; in-place rent growth of 7% vs. prior year
The company's managed portfolio performance demonstrates the 'flight-to-quality' trend in commercial real estate, with stabilized assets approximately 95% leased overall.
Comstock Holding Companies (Nasdaq: CHCI) has appointed Robert P. Demchak as its new General Counsel and Corporate Secretary, effective June 24, 2024. Demchak, a veteran in real estate and capital markets law, brings over 25 years of experience. He has managed over $10 billion in transactions and held key roles at Simon Property Group and Washington Prime Group. Demchak will oversee Comstock's legal department, corporate governance, and strategic initiatives, succeeding Jubal Thompson, who will transition to a consulting role after 26 years with the company.
Comstock Holding Companies (Nasdaq: CHCI), a key player in asset management and mixed-use property development in the Washington, D.C. area, has released its 2024 Investor Presentation. This presentation is now available on the company's investor relations website under the 'Events & Presentations' section. The presentation outlines strategic plans, financial performance, and future growth prospects, providing stakeholders with a comprehensive overview of Comstock's vision and operational highlights for the upcoming year.
Comstock has launched 'Summerbration 2024' at Loudoun Station, offering a series of free concerts, movies, fitness events, and family activities running through September 7. The event kicks off on June 1 with a 2000s Revival Event featuring the band So Fetch. Highlights include an 80s tribute concert by The Legwarmers on August 24, sports-themed movie screenings each Sunday, a Cars and Cruisers event on the last Saturday of each month, and free Zumba and yoga classes. The summer series concludes with a Silent Dance Party on September 7. Free parking is available for attendees. Visit loudounstation.com for more details.
Comstock Holding Companies (Nasdaq: CHCI) reported its Q1 2024 financial results, highlighting a sustained growth trajectory.
Revenue increased by 4% to $10.6 million, marking the 15th consecutive quarter of year-over-year growth. The company saw a 45% increase in recurring fee-based Property & Parking Management revenue.
Net income rose 21% to $0.9 million, and Adjusted EBITDA came in at $1.5 million. Comstock also executed 10 commercial leases, including 7 new tenants, and expanded its managed commercial portfolio with the delivery of a new office tower at The Row at Reston Station.
The residential portfolio was 96% leased with a 7% in-place rent growth.
The ParkX managed portfolio saw a 44% revenue growth with the addition of 3 new garages and 15 new contracts. Construction is progressing on The Row at Reston Station, set to deliver 4 new buildings and a 1,200-space parking garage within 12 to 24 months.
Comstock Holding Companies (Nasdaq: CHCI) has announced the signing of four new leases at The Hartford building in Arlington, Virginia. The tenants include Spartan Shield (2,900 sq. ft. office space), Paris Baguette (3,400 sq. ft. retail), Relive Health (2,200 sq. ft. retail), and Kilwins (1,500 sq. ft. retail). This brings The Hartford's commercial occupancy to 79% and achieves full retail occupancy of 7,100 sq. ft. The building is located adjacent to the Clarendon Metro Station, making it an attractive workplace destination. These leases signify Comstock's continued success in enhancing its property portfolio with prominent corporate tenants and diverse amenities.
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