Comstock Homebuilding Companies Announces Strategic Alliance With SunBridge Capital Management; SunBridge to Give Up to $45M New Debt Financing

Comstock Homebuilding Companies, Inc. CHCI announced that it has formed a strategic alliance with SunBridge Capital Management, LLC, a private investment management firm supported by the Bainum family, a prominent Washington, DC family with investment interests that include Choice Hotels International CHH. The purpose of the strategic alliance is to facilitate Comstock's and SunBridge's ongoing pursuit of certain homebuilding and multi-family rental projects in the Washington, DC market. The strategic alliance calls for project funding of up to $25 million from each party to capitalize agreed-upon potential investments. Further demonstrating its commitment to its relationship with Comstock, SunBridge will also provide up to $20 million of senior secured financing thereby strengthening Comstock's ability to pursue new real estate investment and development opportunities.