On March 17, 2026, Comstock Holding Companies, Inc. made an initial investment of approximately $4.5 million in a joint venture that acquired a 417-unit apartment building at 15955 Frederick Road in Rockville, Maryland, securing a 9% indirect ownership interest. The Company received a $0.5 million acquisition fee and will provide asset, property, and janitorial management services via subsidiaries.
Key takeaways
Initial investment of approximately $4.5 million on March 17, 2026
Acquisition of 417-unit apartment building at 15955 Frederick Road, Rockville, Maryland
Company's indirect interest in Property: 9% via Comstock Reed JV Holding Company (90% owned by Company, 10% by CP)
Benefit Street Partners-advised fund owns 90% indirect interest, CP owns 1%
Acquisition fee received: $0.5 million
Entitled to incentive fees; provides management services through CHCI Asset Management, LC, CHCI Residential Management, LC, and ParkX Management, LC