Comstock Partners

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Comstock Partners, LC is a privately-held real estate investment company formed in 1999 to invest in mixed-use and transit-oriented properties in the Washington, DC area, where we primarily focus on select high-growth and transitioning “sub-urban” markets. As a family-owned investment platform, our investment strategy is often based on long-term ownership of real property. As such, we focus on investments that have exceptional potential to provide above average returns on invested capital, regardless of varying economic market conditions.

We believe that the quality of the management teams responsible for the operation of the assets that we acquire or develop is just as important as the quality of the real estate assets themselves. We work exclusively with real estate and asset management professionals that have proven track records of delivering exceptional results and that share our desire to build lasting relationships with those that we choose to do business with by exceeding expectations. When we partner with third part investors, we ensure alignment of all stakeholders while working diligently to exceed expectations and maximizing the potential of assets including our partnership.

Big Tech Focus on Northern Virginia Transforming Region into Silicon Valley of the East

With its second phase of development set for delivery in early 2022, Metro’s $6.8 billion Silver Line, which delivered its first phase in 2014, will extend the reach of public transportation from Washington, D.C. through the Wiehle-Reston East Station (Reston Station) to Dulles Airport and Loudoun Station. The arrival of the Silver Line’s Phase II will have a substantial impact and accelerate future transit-oriented growth, further enhancing the Dulles Technology Corridor’s already strong economic fundamentals by increasing demand for office tenants seeking transit-oriented space and spurring development of walkable, transit-oriented communities such as Reston Station and Loudoun Station.

The addition of the Silver Line is projected to generate more than $300 billion into the immediate area’s economy over the next 25 years, according to the George Mason Center for Regional Analysis. Reston and Loudoun Station’s locations offer unparalleled access to the Silver Line and seamless commutes to Downtown Washington, D.C., and Dulles International Airport.

Reston Station Represents the Beginning Transformation of Dulles Corridor

Reston Station is among the largest mixed-use, transit-oriented developments in the Washington D.C. MSA and led the market with more than 500,000 sf of office leases in 2019

Located midway between Dulles Airport and Tysons Corner, the urban core of Reston Station surrounds the only fully integrated transit facility in northern VA

Metro’s Wiehle Reston-East Station is situated at center of Reston Station neighborhood and will accommodate upwards of 25,000 daily commuters when Phase II of the Silver Line opens in early 2021

Spanning the Dulles Toll Road, the 40+ acre Reston Station neighborhood is being developed in four distinct districts:

Metro Plaza District
Reston Row District
Commerce District
West District

RESTON STATION ASSETS OVERVIEW*

5M SF Mixed Use Development
2M SF Trophy-Class & Class-A Office
210K SF Restaurants, Destination Retail
2,000+ Residential Units
7,500+ Parking Spaces
500K+ SF Leasing Activity 2019
JW Marriott Hotel and Condominiums
Extended Stay Hotel

*All numbers are approximate and residential totals include buildings by others.

Commerce District in foreground. Metro Plaza and West District in background.

Reston Row District and West District in foreground and Commerce District in background.

Loudoun Station Is The First Transit-oriented, Mixed-use Development in Loudoun County

Loudoun Station, located at the terminus of Phase II of Metro’s Silver Line in Ashburn, VA is Loudoun County’s first Metro connected development. Currently the neighborhood is connected to Metrorail via non-stop commuter bus to Reston Station. Loudoun Station will be the terminus of the Silver Line upon completion.

Phase II of Metro’s Silver Line is under construction and scheduled to commence passenger service in early 2021.

More than 1 million SF of mixed-use development completed. Loudoun Station will be the terminus of the Silver Line Metro upon completion.*

1,000 Residential Units
500K SF of Class-A Office Space
150K Destination Retail
5,000+ Parking Spaces

*All numbers are approximate.

Phase I and II looking north from Metro station.

Loudoun Station neighborhood with future phases in foreground.

Comstock Partners Leadership

CHRIS CLEMENTE
Chairman & CEO of Comstock Holding Companies, Inc.
Managing Director & Principal of Comstock Partners, LC, (Owner of Anchor Portfolio)
35 years industry experience

Chris Clemente founded the Comstock organization in 1985 and has guided its growth and diversification since its inception. Mr. Clemente managed the growth of Comstock as a private enterprise until the 2004 initial public offering of Comstock Homebuilding Companies, Inc. (NASDAQ: CHCI), now known as Comstock Holding Companies, Inc. (“Comstock” or “Company”). Since the IPO, Mr. Clemente has served as Chairman of the Board and CEO of Comstock and is the largest individual stockholder of the Company. Mr. Clemente chairs Comstock’s Executive Committee, which charts strategic direction, evaluates acquisition opportunities, and oversees strategic partnerships, including multiple public-private partnerships where Comstock is the operating partner. Mr. Clemente co-owns Comstock Partners, LC with Dwight Schar and other family members, a family-owned, private company founded in 1999 to focus on commercial real estate development and investment. Mr. Clemente is also Managing Member at Comstock Partners, LC.

DWIGHT SCHAR
Chairman of NVR
Owner of Washington Redskins, Principal of Comstock Partners, LC, (Owner of Anchor Portfolio)
50 years industry experience

Dwight Schar co-owns Comstock Partners, LC with Christopher Clemente. Mr. Schar has been active in the real estate development industry since 1969 when he joined Ryan Homes in Ohio. Mr. Schar excelled in his management roles at Ryan Homes and led the expansion of Ryan Homes in the Washington, D.C. market in the 1970’s. Mr. Schar left Ryan Homes to form NV Land and NV Homes in 1977. After much success in the 1980’s, Mr. Schar orchestrated NV Homes’ acquisition of the much larger Ryan Homes in 1987, renaming the combined companies NVR, Inc. (“NYSE: NVR”). Mr. Schar served as President and CEO of NVR until 2005 and as Executive Chairman of the Board of Directors and Chairman of the Executive Committee of NVR. Mr. Schar is part-owner of the NFL Washington Redskins football team and was a managing partner of private equity firm, Red Zone Capital (“Red Zone”). Among other holdings, Red Zone owned Johnny Rockets Restaurants and Red Zebra Radio Stations. In 2007, Red Zone acquired Dick Clark Productions, owner of numerous popular entertainment assets including, the Golden Globe Awards, the Country Music Awards and Dick Clark’s Rockin’ New Year’s Eve.