"We are pleased to have resolved this dispute in an amicable
fashion," said Christopher Clemente, Comstock's Chairman and CEO. "We
believe the modified terms of our Bank of America loans are better
aligned with current real estate market conditions."
About Comstock Homebuilding Companies, Inc.
Comstock is a production homebuilder that develops, builds, and
markets single-family homes, townhouses, mid-rise condominiums,
high-rise condominiums, mixed-use developments and condominium
conversions. The Company currently markets its products under the
Comstock brand in the Washington, D.C., Raleigh, North Carolina,
Atlanta, Georgia and parts of the Carolinas. The company targets a
diverse range of buyers of moderately priced homes. For more
information on Comstock, please visit
http://www.comstockhomebuilding.com.
This press release includes "forward-looking statements" within the
meaning of the federal securities laws, which involve uncertainties
and risks. These include statements regarding events or developments
that the Company expects or anticipates will occur in the future,
such as statements about the Company's strategies to improve
operating performance. Please refer to the Company's prospectus and
its other filings with the Securities and Exchange Commission for a
complete discussion of these and other important factors that could
cause results to differ materially from those projected by these
forward-looking statements.
CONTACT:
Bryan L. Murray
+1-703-230-1450
SOURCE: Comstock Homebuilding Companies, Inc.