Core Points - Comstock Holding Companies, Inc. has entered into a purchase agreement to acquire a multifamily property with over 400 units in Rockville, Maryland, marking its first acquisition since the pandemic [1][4] - The property is designed with one-to-three bedroom apartments and includes amenities such as a fitness center, social gathering spaces, a resort-style pool, and garage parking, conveniently located along Metro's Red Line [3][6] - The acquisition is part of Comstock's Institutional Venture Platform, aimed at attracting institutional investors and structured as a joint venture to maximize value for stakeholders [5][6] Company Strategy - The acquisition aligns with Comstock's strategic growth plan, focusing on enhancing its managed portfolio and generating above-average returns on invested capital (ROIC) [6] - The company has emphasized its efforts to eliminate debt and strengthen its balance sheet, positioning itself for growth opportunities [6] Company Background - Founded in 1985, Comstock is a leading asset manager and developer of mixed-use and transit-oriented properties in the Washington, D.C. region, managing approximately 10 million square feet at full build-out [7][8]