other material
confidence high
sentiment positive
materiality 0.65
Comstock acquires Woodland Pointe campus in Herndon, VA; secures full-campus lease with Peraton
Comstock Holding Companies, Inc.
- Initial investment of ~$5.0M; Comstock owns 85% of JV with affiliate of CEO.
- Existing 185,000 sq ft Class A office building plus 100,000 sq ft build-to-suit; Peraton will fully occupy ~300,000 sq ft.
- Comstock earned $0.8M acquisition fee and $3.3M leasing fees at closing; ongoing management fees.
- Property located in Dulles Technology Corridor; JV includes unaffiliated institutional co-investors.
- CP provided bridge loan to be refinanced within 60 days.