• Secured an anchor asset management agreement with Comstock Development Services, L.C. ("CDS"), a company owned by the CEO of the Company, covering two of the largest transit-oriented, mixed use developments in the Dulles Corridor of Northern Virginia, Reston Station and Loudoun Station, that provides a reliable revenue stream on a cost-plus basis, mitigating future downside risks
• Expanded assets covered by the anchor asset management agreement through management of $100M plus acquisition of a portfolio of three stabilized Class-A office buildings situated on 12-acres adjacent to Metro's Silver Line station at the Wiehle Reston-East Station in Reston, VA; with entitlements in place for an additional ~1.1 million square feet of mixed-use development
• Expanded assets covered by the anchor asset management agreement through management of $50M plus acquisition of 8 acres of land improved with small-format office buildings adjacent to CDS's Reston Station development and subsequently secured zoning entitlements allowing the redevelopment of the site with ~1.4 million square feet of mixed-use development, including office, residential, retail, entertainment, and hotel uses
• Commenced construction of a ~185,000 square foot office tower at CDS's Reston Station development
• Secured a franchise agreement with Marriott International providing for the development of a Marriott Renaissance Hotel and residential tower at Reston Station
• Commenced construction of CDS's BLVD | Loudoun Station Phase II, a 318-unit mixed-use residential/retail development while completing construction of a 1,500-space commercial parking garage at the terminus station of Metro's Silver Line in Ashburn, VA within Comstock's Loudoun Station development
• Rebranded JK Environmental to Comstock Environmental Services, LC and expanded environmental services into the Washington, DC market, facilitating an additional revenue source for the Company

About Comstock Holding Companies, Inc.

Comstock Holding Companies, Inc. (the "Company" or "CHCI") is a multi-faceted real estate development, asset management and real estate related services company that, since 1985, has designed, developed, constructed and managed several thousand residential units and millions of square feet of residential and mixed-use projects throughout the Washington, DC metropolitan market and in other key markets in the southeastern United States. In early 2018, CHCI transitioned its operating platform from being primarily focused on developing on-balance sheet, for-sale homebuilding projects to being focused on commercial real estate development, asset management and real estate related services. As a result, CHCI began operating through two real estate focused platforms, CDS Asset Management ("CAM") and Comstock Real Estate Services ("CRES"). CAM provides real estate development, asset management, and property management services, while CRES provides development supply chain services, including capital markets, real estate brokerage, environmental consulting and design services in the Washington, DC metropolitan area, New Jersey and Pennsylvania. Anchoring the transition of CHCI is a long-term asset management agreement covering two of the largest transit-oriented, mixed-use developments in the Washington, DC area; Reston Station, a 4.5 million square foot transit-oriented, mixed-use development located in Reston, VA, and Loudoun Station, a 2.5 million square foot transit-oriented, mixed-use development in Ashburn, VA, as well as other additional development assets. CHCI's substantial experience in entitling, designing, developing, and managing a diverse range of properties including apartments, single-family homes, townhomes, mid-rise condominiums, high-rise condominiums and mixed-use (residential and commercial) properties, as well as large scale commercial parking garages and infrastructure projects, has positioned the Company as a premier developer and real estate related service provider in the mid-Atlantic Region.

About Reston Station

Strategically located midway between Tysons Corner and Dulles International Airport, Reston Station is among the largest mixed-use, transit-oriented developments in the Washington, DC area. Covering nearly 40 acres spanning the Dulles Toll Road and surrounding the Wiehle Reston-East Station at the terminus of Phase I of Metro's Silver Line, Reston Station is already home to more than 1,000 residents, numerous businesses, multiple retail establishments, and several restaurants. With more than approximately 2 million square feet of completed and stabilized office and residential buildings, more than 2 million square feet of additional development in various stages of entitlement, development and construction, and a 3,500-space underground parking garage and transit facility adjacent to the Wiehle Reston-East Metro Station, the Reston Station neighborhood is taking shape and quickly becoming Fairfax County's urban focal point in the Dulles Corridor.

About Loudoun Station

Located at the terminus of Phase II of Metro's Silver Line, minutes from Dulles International Airport, Loudoun Station represents Loudoun County's first (and currently its only) Metro-connected development. Loudoun Station has approximately 700,000 square feet of mixed-use development completed, including approximately 357 residential units, 50,000 square feet of Class-A office space, 118,000 square feet of ground floor retail spaces, and a 1,500-space commuter parking garage. Approximately 2 million square feet of additional development is slated for Loudoun Station.  The Loudoun Station neighborhood represents Loudoun County's beginning transformation into a transit connected community with direct connectivity to Dulles International Airport, Reston, Tysons Corner and downtown Washington, DC. As Loudoun County's only transit connected neighborhood, Loudoun Station has become the new downtown of Loudoun County in the Dulles Corridor.

Cautionary Statement Regarding Forward-Looking Statements

This release includes "forward-looking" statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by use of words such as "anticipate," "believe," "estimate," "may," "intend," "expect," "will," "should," "seeks" or other similar expressions. Forward-looking statements are based largely on our expectations and involve inherent risks and uncertainties, many of which are beyond our control. Any number of important factors which could cause actual results to differ materially from those in the forward-looking statements include, without limitation: completion of Comstock's financial accounting and review procedures; general economic and market conditions, our ability to compete in the markets in which we operate; economic risks in the markets in which we operate, including actions related to government spending; delays in governmental approvals and/or land development activity for the projects we manage; regulatory actions; fluctuations in operating results; our anticipated growth strategies; the reliance of substantially all of our revenues derived from our provision of asset management services to a limited number of companies; the potential termination of our anchor asset management agreement with our affiliate and of our other continuing relationships with our affiliates. Additional information concerning these and other important risk and uncertainties can be found under the heading "Risk Factors" in our Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, for the fiscal year ended December 31, 2018. Our actual results could differ materially from these projected or suggested by the forward-looking statements. Comstock claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all forward-looking statements contained herein. Comstock specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.