Key Developments: Comstock Holding Companies Inc (CHCI.W)
3.18USD
17 May 2013
$-0.18 (-5.36%)
$3.36
$3.19
$3.19
$3.18
200
97
$3.54
$1.05
Latest Key Developments (Source: Significant Developments)
Comstock Holding Companies Inc Raises FY 2013 Revenue Guidance
Comstock Holding Companies Inc announced that because of project performance continues to outpace the early expectations, the Company is increasing its revenue forecast for fiscal 2013 to a range of $64 million to $69 million based on an upward revision of projected home settlements to 125-140. Full Article
Comstock Holding Companies Inc Comments On Q1 2013 Revenue Guidance
Comstock Holding Companies Inc announced that for first quarter of 2013, it expects revenue in to be approximate the revenue levels for all of fiscal 2012. The Company reported revenue of $2.6 million for fourth quarter of 2012. Full Article
Comstock Homebuilding Companies, Inc To Change Corporate Name
Comstock Homebuilding Companies, Inc announced that its Board of Directors has approved an amendment to the Company's Certificate of Incorporation effecting a corporate name change from Comstock Homebuilding Companies, Inc. to Comstock Holding Companies, Inc. In accordance with Delaware law, the name change will become effective only upon the filing of the amended Certificate of Incorporation with the State of Delaware, which the Company intends to do promptly upon, and subject to, the corporate name change being approved by the majority of existing shareholders entitled to vote at the Company's upcoming annual meeting on June 22, 2012. The Company's trading symbol will remain CHCI on the NASDAQ exchange. The Company will continue to market its residential homebuilding and rental projects through its Comstock Homes brand. Full Article
Comstock Homebuilding Companies, Inc. Closes Sale Of Multi-Family Project
Comstock Homebuilding Companies, Inc. announced that, Comstock Cascades II L.C., an entity in which the Company has a controlling interest, closed on the previously announced sale of the Potomac Square Apartment project for $19.35 million. After repayment of the existing construction loan and minority investor's equity, current net proceeds to the Company will be approximately $4.7 million. Full Article
Comstock Homebuilding Companies, Inc. Announces Sale Of Multi-Family Project For $19.75 Million
Comstock Homebuilding Companies, Inc. announced that on October 31, 2011, Comstock Cascades II L.C., an entity in which the Company has a controlling interest, entered into a definitive agreement with CAPREIT, Inc. and/or its affiliates (Purchaser) whereby Comstock agreed to sell CAPREIT its Potomac Square Apartment project (Property) for approximately $19.75 million. The transaction is expected to close during the fourth quarter of 2011, subject to a customary due diligence period, during which the Purchaser is entitled to cancel the transaction. Full Article
Comstock Homebuilding Companies, Inc.'s Subsidiary Reaches Settlement Agreement With Balfour Beatty On Eclipse Condo Litigation
Comstock Homebuilding Companies, Inc. announced that on July 21, 2011, Comstock Potomac Yard, L.C., a subsidiary of the Company, entered into a definitive settlement agreement with Balfour Beatty Construction, LLC, successor in interest to Centex Construction (Balfour), with respect to a $11,963,002 judgment previously entered in Comstock Potomac Yard's favor by the United States District Court for the Eastern District of Virginia, Alexandria Division (Judgment). The definitive settlement agreement fully resolves the Judgment which Balfour had previously appealed to the United States Court of Appeals, 4th Circuit, on March 25, 2010. Balfour was the general contractor for Comstock Potomac Yard's Eclipse on Center Park Condominium project in Arlington, Virginia. The judgment resulted from litigation initiated by Comstock Potomac Yard in September of 2008 against Balfour as a result of delays to the Project. The terms of the settlement are confidential except as disclosed in accordance with applicable securities laws pursuant to a Form 8-K filed with the Securities and Exchange Commission by the Company. Comstock Potomac Yard was represented by Stephen Seeger of Seeger, Faughnan and Mendicino, P.C. Full Article
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