Comstock Holding Companies, Inc. · NASDAQ:CHCI
Comstock Holding Companies — Investor Presentation (June 2018)
18 slides from Comstock Holding Companies's investor presentation, Jun 12, 2018
Slide 1: New Business Model Update
Comstock Holding Companies, Inc. NASDAQ: CHCI New Business Model Update June 12, 2018
Slide 2: Disclaimer
Comstock Holding Companies, Inc. DISCLAIMER This release includes "forward‐looking" statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward‐looking statements can be identified by use of words such as "anticipate," "belie
Slide 3: Investment Overview
Comstock Holding Companies, Inc. INVESTMENT OVERVIEW • The commercial and residential capabilities of the Comstock organization are now combined under one public company: Comstock Holding Companies Inc. (NASDAQ: CHCI) • This combination leverages the diverse capabilities and relationships developed
Slide 4: Financial Stability and Support
Comstock Holding Companies, Inc. FINANCIAL STABILITY AND SUPPORT • The revenue shift from being primarily dependent on for‐sale, production homebuilding, to a fee‐for‐service model will enhance profitability and balance sheet stability • Anchoring the transition is a long term (5‐year initial term)
Slide 5: Pursuing Growth of Operating Platforms
Comstock Holding Companies, Inc. PURSUING GROWTH OF OPERATING PLATFORMS • Tim Steffan, a 30+ year veteran of commercial real estate and asset management industry has joined Comstock as member of executive team to lead its Asset Management operations and oversee development operations • CAM will gene
Slide 6: Deferred Tax Asset
Comstock Holding Companies, Inc. DEFERRED TAX ASSET Tax Asset Attributes • Comstock has a tax asset that represents approximately $143 million of NOL’s as of December 31, 2017 • NOL represent approximately $36 million in future cash savings, net deferred tax asset, if fully utilized prior to expirat
Slide 7: Recent Accomplishments and Upcoming Initiatives
Comstock Holding Companies, Inc. RECENT ACCOMPLISHMENTS AND UPCOMING INITATIVES Recent Accomplishments and Upcoming Initiatives: • Comstock has completed the conversion of approximately $11 million of short‐term debt, representing a majority of Comstock’s unsecured liabilities, held by entities owne
Slide 8: Investment Merits
Comstock Holding Companies, Inc. INVESTMENT MERITS • CHCI’s new focus on commercial development, asset management, and provision of complementary real estate related services provides predictable revenue streams and cash flow • Transitioning away from for‐sale homebuilding as primary revenue source
Slide 9: Investment Overview – Key Takeaways
Comstock Holding Companies, Inc. INVESTMENT OVERVIEW – KEY TAKEAWAYS • The commercial and residential capabilities of the Comstock organization are now combined under one public company: Comstock Holding Companies Inc. (NASDAQ: CHCI) • This combination leverages the diverse capabilities and relation
Slide 10: Key Assets Under Management - Locations
Comstock Holding Companies, Inc. KEY ASSETS UNDER MANAGEMENT ‐ LOCATIONS Momentum @ Shady Grove Metro Loudoun Station Herndon Redevelopment Reston Station 10 International Gateway ‐ Tysons
Slide 11: Key AUM Portfolio Developments
Comstock Holding Companies, Inc. KEY AUM PORTFOLIO DEVELOPMENTS About Reston Station Strategically located mid‐way between Tysons Corner and Dulles International Airport, Reston Station is among the largest mixed‐use, transit‐oriented developments in the region. Located at the terminus of Phase I of
Slide 12: Assets Under Management
Comstock Holding Companies, Inc. ASSETS UNDER MANAGEMENT RESTON STATION RESTON STATION LOUDOUN STATION OB1 BLVD I BLVD I Sq. Ft. Office: 370,000 Units: 448 Luxury Apartments Units: 357 Luxury Apartments Sq. Ft. Retail: 8,600 Leased: 93% Leased: 95% Stories: 16 Retail: 8,441 SQ FT Square Feet Retail:
Slide 13: Reston Station Development
Comstock Holding Companies, Inc. DEVELOPMENT RESTON STATION OB2 OB3 Sq. Ft. Office: 200,000 Sq. Ft. Office: 155,978 Sq. Ft. Retail: 14,000 Sq. Ft. Retail: 8,216 Construction Start: 2019 Construction Start: 2018 Construction Complete: 2021 Construction Complete: 2020 Stabilization: 2022 Stabilization
Slide 14: Loudoun Station Development
Comstock Holding Companies, Inc. DEVELOPMENT LOUDOUN STATION EXISTING . BLVD II BLVD III Residential Units: 318 Residential Units: 345 Sq. Ft. Retail: 27,000 Sq. Ft. Retail: 16,500 Construction Start: 2018 Construction Start: 2020 Construction Complete: 2020 Construction Complete: 2022 Stabilization
Slide 15: Promenade Development
Comstock Holding Companies, Inc. DEVELOPMENT PROMENADE Project Area: 8.5 acres Office: 550,000 sf Entitlement: 1.3 Million sq ft Retail: 160,000 sf # Buildings: 4 high‐rise Residential: 330 units Hotel: 480 keys Multi: 260 units
Slide 16: Herndon Downtown Development
Comstock Holding Companies, Inc. DEVELOPMENT HERNDON DOWNTOWN Residential Units: 281 Sq. Ft. Retail: 18,000 Construction Start: 2019 Construction Complete: 2021 Stabilization: 2022
Slide 17: Momentum at Shady Grove Metro Development
Comstock Holding Companies, Inc. DEVELOPMENT MOMENTUM AT SHADY GROVE METRO Residential Units: 110 Sq. Ft.: 170,432 Construction Start: 2018 Construction Complete: 2019 JV Partnership: SCG Development Partners, LC (Stratford, 75%) & Comstock Redland Road, LC (25%)
Slide 18: Contact Information
CONTACT INFORMATION Christopher Conover Chief Financial Officer cconover@comstockcompanies.com 703.230.1985 (office) 703.230.230.1152 (direct) Denise Pattakos dpattakos@comstockcompanies.com 703.230.1985 703.230.1146 Comstock Holding Companies, Inc. 1886 Metro Center Drive | Fourth Floor | Reston St
Comstock Holding Companies — Investor Presentation (June 2018) on 6ix