- Unit deliveries of 33, generating homebuilding revenue of $12.9 million for the three months ended September 30, 2016 compared to unit deliveries of 24 generating $12.0 million of homebuilding revenue for the same period in 2015;
- Unit deliveries of 76, generating homebuilding revenue of $32.1 million for the nine months ended September 30, 2016 compared to unit deliveries of 70 generating $34.2 million of homebuilding revenue for the same period in 2015;
- Controlled community count and open community count of 15 and 12, respectively, at September 30, 2016 compared to 19 and 10, respectively at September 30, 2015;
- Comstock has begun development and sales of three new projects in Virginia, Maryland, and Washington, D.C. during recent months, which collectively represent more than $52 million of potential future revenues;
- During the Quarter, the Company completed its most recent private placement offering, Comstock Investors X, L.C., providing $14.5 million of new capital at a fixed preferred return of 6%. This capital will be utilized in connection with the development of certain projects scheduled to begin generating revenue in 2017.
- The Company recognized impairment recoveries of $0.7 million, related to the recovery of previously written off land contract deposits, and write-offs of $0.8 million, related to deposits and entitlement costs determined to be non-recoverable, in the three and nine-months ended September 30, 2016.
Comstock Holding Companies, Inc., (NASDAQ:CHCI), announced results for the three and nine month periods ended September 30, 2016: Highlights of Third Quarter 2016: