WASHINGTON & RESTON, Va.--(BUSINESS WIRE)--
Comstock Holding Companies, Inc. (NASDAQ:CHCI) ("Comstock" or the
"Company"), a multi-faceted real estate development and services company
focused on the Washington, DC market, today announced that Joseph M.
Squeri has been appointed to the Company's Board of Directors effective
immediately. In connection with this appointment, Mr. Squeri will no
longer serve as the Company's Chief Financial Officer effective as of
November 25, 2015. Mr. Squeri has accepted a position as Managing
Director with SunBridge Capital Management, LLC ("SunBridge"), a private
investment management firm supported by the Bainum family, a prominent
Washington, DC family with investment interests that include Choice
Hotels International (NYSE: CHH) and Comstock. SunBridge has been
associated with Comstock for the past five years through various real
estate project-level joint ventures.
"We are delighted that Joe will continue to be closely associated with
Comstock. His appointment to the Board reflects the value our Company
ascribes to his strategic and leadership capabilities," said Christopher
Clemente, Chairman and Chief Executive Officer.
Effective November 25, 2015, Christopher L. Conover will serve as the
interim Chief Financial Officer and Principal Financial Officer of the
Company in addition to his current role as the Company's Senior Vice
President, Accounting and Finance. Mr. Conover, a certified public
accountant, has been the Company's Senior Vice President, Accounting and
Finance since joining the Company in 2012. He was previously with
PricewaterhouseCoopers LLP ("PwC") from 2007 to 2011, serving in their
Financial Services Assurance practice. While at PwC, he provided audit
and highly technical consulting services to companies in the real estate
industry.
About Comstock Holding Companies, Inc.
Comstock is a multi-faceted real estate development and services company
that builds a wide range of housing products under its Comstock Homes
brand through its wholly owned subsidiary, Comstock Homes of Washington,
LC, and provides a variety of capital markets advisory and real estate
asset related services through its wholly owned subsidiary, Comstock
Real Estate Services, LC. Comstock's extensive real estate development
experience positions Comstock Real Estate Services, LC to provide a
unique brand of experience based capital markets advisory and real
estate asset management services to clients nationwide. Comstock Holding
Companies, Inc. is a publicly traded company, trading on NASDAQ under
the symbol CHCI. For more information about Comstock, please visit: www.comstockhomes.com.
Cautionary Statement Regarding Forward-Looking Statements
This release contains "forward-looking" statements that are made
pursuant to the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995. The forward-looking statements in this
release include statements regarding management transition matters.
These statements are based on current expectations about the Company and
are not guarantees of future actions, events or performance, which may
vary materially from those expressed or implied in such statements.
Information concerning these and other important risks and uncertainties
that may affect future performance, results or actions can be found
under the heading "Risk Factors" in the Company's most recent Form 10-K,
as filed with the Securities and Exchange Commission. Comstock
specifically disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future developments or otherwise, except as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151023005890/en/
Company:
Comstock Holding Companies, Inc.
Joe Squeri,
703-230-1229
Chief Financial Officer
or
Investor
Relations:
LHA
Harriet Fried, 212-838-3777
hfried@lhai.com
Source: Comstock Holding Companies, Inc.
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