Comstock PartnersComstock Partners
Comstock PartnersComstock Partners

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. Our well capitalized family-owned investment platform enables us to be entrepreneurial in our approach to real estate acquisition, development, and operation, while our significant experience and deep knowledge of the real estate market in the Washington, DC region allows us to identify strategic opportunities capable of generating significant near-term and long-term value for all stakeholders.

 Our decades long track record of successfully developing and operating real estate assets guides our focus on investment opportunities that have exceptional potential to provide above average returns on invested capital. Our ability to successfully navigate varying economic market conditions over the past 30+ years is due to our careful planning of each transaction with the goal of maximizing the potential of every property that we acquire and develop, as well as our focus on location, location, location, and holding power.

 We believe real estate is a relationship business, which is why we work exclusively with real estate and asset management professionals that have proven track records of delivering exceptional results and that share our commitment to building lasting relationships with those that we do business with by exceeding expectations of all stakeholders.

We believe in using the power of business and the strength of relationships to make the world aa better place. That’s why we develop high quality, sustainable, mixed-use and transit oriented communities that are uniquely positioned to meet the diverse needs of many while seamlessly integrating into the surrounding communities. We are also committed to creating open and inclusive environments that are welcoming to all and we honor and respect the spirit and the letter of Equal Housing Opportunity and Equal Employment Opportunity laws.

Big Tech Focus on Northern Virginia Transforming Dulles Corridor 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

The New Remarkable.

Urban, Walkable, Connected

Strategically located midway between Tysons and Dulles International Airport, Reston Station is one of the largest mixed-use, transit-oriented developments in the Washington, D.C. region. Covering more than 60 acres spanning the Dulles Toll Road and surrounding the Wiehle Reston-East Metro Station on Metro’s Silver Line, Reston Station is home to the first Helmut Jahn designed building in Virginia and features a variety of Trophy-Class and Class A buildings. Corporate tenants including Google, ICF Global, Neustar, Spotify, Clarabridge – Qualtrics, and Rolls-Royce of North America have relocated their headquarters to Reston Station’s amenity-rich neighborhood. Destination retail and dining establishments, including CVS, Founding Farmers, Starbucks, matchbox Pizzeria, Big Buns Burgers, Wells Fargo, and Salon Nordine are open while Davios Northern Italian Steakhouse, Scissors & Scotch and others are coming soon. Multiple residential buildings are completed, in development, and planned in the Reston Station neighborhood that will provide a wide variety of housing for thousands of residents while two major brand hotels will serve short-term and extended-stay visitors.

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.

Reston Station Gateway
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 represents Loudoun County’s only Metro-connected development. Situated adjacent to Metro’s Ashburn Station on the Silver Line, Loudoun Station represents Loudoun County’s beginning transformation into a transit connected community with direct rail connectivity to Dulles International Airport, Reston, Tysons and downtown Washington, DC. Loudoun Station has more than 1 million square feet of mixed-use development completed, including almost 700 apartment residences, ~150,000 square feet of retail, restaurants, and entertainment venues that includes the 11-screen AMC Loudoun Station theatre, 50,000 square feet of Class-A office, and a 1,500+ space commuter parking garage. Approximately 1.5 million square feet of additional transit-oriented and mixed-use development is planned for the Loudoun Station neighborhood.

Central Station Avenue at Loudoun Station
Loudoun Station neighborhood with future phases in foreground.

Historic Downtown Herndon Revitalization

The redevelopment of Herndon’s historic center, a key objective of Herndon’s Town Council, will enhance the vibrant and historic downtown neighborhood.

Being developed through a public–private partnership between Comstock and the Town of Herndon, Historic Herndon District will replace a shuttered auto dealership with 281 residences, 20,000 square feet of prime retail space, an 18,000 square foot performing arts center, and a public parking garage.

Located in the heart of Historic Downtown Herndon, and surrounded by retail, restaurants, parks and recreational activities, Historic Herndon District will become the center of Herndon’s Cultural identity, and enhance the pedestrian experience for all residents, retailers, and visitors alike.

Herndon Arts Walk
Herndon Plaza Level

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.

Comstock

For more information, please contact:
Denise Pattakos
703.230.1146

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