Comstock Appoints Robert P. Demchak as New General Counsel

Real estate industry veteran joins Comstock's Executive Leadership Team

Comstock Holding Companies, Inc. (NASDAQ:CHCI) ("Comstock" or the "Company"), a leading asset manager, developer, and operator of mixed-use and transit-oriented properties, announced the appointment of Robert P. Demchak to the Executive Leadership team as General Counsel and Corporate Secretary, effective June 24, 2024.

Mr. Demchak brings over 25 years of experience as a real estate and capital markets attorney and as a REIT executive. His experience encompasses corporate governance, capital markets, regulatory compliance, and management of commercial real estate related transactions. Throughout his commercial real estate focused career, Mr. Demchak has led the closing of over $10 billion in acquisitions, dispositions, commercial mortgages, and credit facilities.

After practicing law for more than eight years, Mr. Demchak worked at one of the largest commercial mortgage origination firms on Wall Street, structuring and closing more than $4 billion of complex fixed-rate, floating-rate, and mezzanine loans, and other transactions. In 2005, Mr. Demchak joined Simon Property Group, Inc. (NYSE:SPG) as Senior Vice President of the Capital Markets Group, where he focused on large-scale corporate acquisitions, negotiated and documented complex real estate acquisition loans, renegotiated more than $3 billion of corporate obligations, and managed the formation and corporate spinoff of Washington Prime Group (NYSE:WPG).

While at WPG, Mr. Demchak held various executive management positions, including Executive Vice President, General Counsel, and Corporate Secretary. He led the legal and human resources departments, chaired the firm's investment committee, and negotiated and closed a public company merger, several large unsecured corporate debt offerings, and multiple joint ventures and secured debt financings.

Mr. Demchak will be responsible for managing the Company's legal department while overseeing all aspects of corporate governance procedures. Mr. Demchak will work closely with the Company's executive team on strategic initiatives, including real estate acquisitions and dispositions, strategic partnerships, corporate and asset finance transactions and facilitating the Company's M&A strategy. Additionally, he will counsel the Company's Board of Directors on an advisory basis. Mr. Demchak is an East Coast native, earning his bachelor's degree from the State University of New York (SUNY) Albany and his J.D. from St. John's University School of Law.

Mr. Demchak succeeds Jubal Thompson, the long-time General Counsel and Executive Vice President of Investments at Comstock. Mr. Thompson will transition to a consulting role and continue to support the Company on an advisory basis after nearly 26 years overseeing the legal affairs of Comstock. Mr. Thompson worked closely with the Company's CEO and executive team on strategic growth initiatives, including Comstock's 2004 Initial Public Offering and its 2018 transition from homebuilding to commercial real estate development and institutional quality asset management.

"We are thrilled to welcome Rob to the Comstock team," said Chris Clemente, Comstock's Chairman and Chief Executive Officer. "I am confident that Rob's considerable experience managing complex transactions coupled with industry relationships he has developed will have a positive impact on our organization as we continue to focus on expanding our institutional asset management platform and on transactions that add value for all Comstock stakeholders." Mr. Clemente continued, "I want to extend my deepest gratitude to Jubal Thompson for his 25 years of exemplary service to Comstock. His legal and strategic expertise and his unwavering dedication to our Company have been instrumental in our growth and success over the years. I am thankful that Jubal will continue to serve Comstock in his advisory capacity and assist with the transition of legal operations for the Company."

For additional information regarding Comstock's executive team, please visit Comstock's Investor Relations Website.

About Comstock

Founded in 1985, Comstock is a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region. With a managed portfolio comprising approximately 10 million square feet of utilized, in-development, and planned developments strategically located at key Metro stations, Comstock is at the forefront of the urban transformation taking place in the fastest growing segments of one of the nation's best real estate markets. Comstock's developments include some of the largest and most prominent mixed-use and transit-oriented projects in the mid-Atlantic region, as well as multiple large-scale public-private partnership developments. For more information, please visit Comstock.com.

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