RESTON, Va.--(BUSINESS WIRE)--Mar 23, 2026--
Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock” or the "Company"), a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region, today announced that it has completed the acquisition of The Reed, a 417-unit Class A multifamily property located at 15955 Frederick Road in Rockville, Maryland. The acquisition was completed on behalf of a joint venture between the Company and a third-party Benefit Street Partners-advised institutional fund. Comstock Partners, LC, a privately held affiliate of the Company, co-invested in the joint venture. Two wholly owned subsidiaries of Comstock, CHCI Residential Management and ParkX Management, will provide best-in-class, customer-focused property management services for The Reed.
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Built in 2015, The Reed is located directly adjacent to the Shady Grove Metro Station and within walking distance to the restaurants, shops, and outdoor spaces in Rockville's bustling King Farm neighborhood. Its floor plans offer everything from cozy 1-bedroom apartments to expansive 3-bedroom layouts, each thoughtfully designed and well-appointed. The property includes a resort-style swimming pool, fitness center with yoga/boxing studio, clubroom, serene outdoor gathering spaces, multiple resident lounges, and a private parking garage.
“This investment checks every box for us and we’re thrilled to partner with Comstock on this exceptional asset,” said Brian Buffone, Head of Equity Investments at Benefit Street Partners. “Comstock has a proven track record as a best‑in‑class operator. We’re excited to expand our relationship and look forward to creating value together.”
The acquisition of The Reed expands Comstock’s footprint in the Rockville submarket, where the Company now owns and manages more than 900 apartment units across three transit-oriented, multifamily properties, including BLVD Forty Four and BLVD Ansel.
“The Reed is exactly the type of institutional-quality asset we seek as we continue to scale our Institutional Venture Platform,” said Tim Steffan, Chief Operating Officer of Comstock. “This acquisition demonstrates our ability to deploy capital alongside a high-quality, strategic partner to acquire core, core+ and value-add assets. The Metro-adjacent location of The Reed fits perfectly in our transit-oriented portfolio. With our experienced property management teams in place, we see a clear opportunity to elevate the resident experience and drive value for all stakeholders.”
NewPoint Real Estate Capital arranged the Freddie Mac financing as well as the equity component for the transaction.
About Benefit Street Partners
Benefit Street Partners (BSP) is an alternative credit pioneer with $92 billion in assets under management (including Apera). It seeks to deliver attractive, risk-adjusted returns through its deep specialism, long-term relationships and global reach. A wholly owned subsidiary of Franklin Templeton, BSP is focused exclusively on credit. Through its disciplined, solutions-oriented approach, BSP unlocks opportunities across market cycles and geographies. The firm manages strategies spanning private debt, real estate debt, structured credit, and liquid loans. For more information, visit bspcredit.com
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 at full build-out and including stabilized and development assets 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.
The Reed | Rockville, MD
NEW YORK (AP) — Relief is ripping through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war. Oil prices are easing, and stock prices are jumping on Wall Street following severe losses elsewhere in the world before Trump’s announcement.
The price for a barrel of Brent crude fell 8% to $103.23, down from nearly $120 last week, after Trump said on his social media network that the United States and Iran held productive talks the last two days “regarding a complete and total resolution of our hostilities in the Middle East.”
The S&P 500 leaped 1.3% toward its best day since well before the war began following the step down in tensions, even though Iran denied there were any negotiations.
Over the weekend, Trump had threatened to obliterate Iran’s power plants if it doesn’t open up the Strait of Hormuz within 48 hours. The strait has become a sore point for Trump because its near-closure by Iran has prevented oil tankers from leaving the Persian Gulf to supply customers around the world.
Trump said Monday that he is postponing attacks on Iranian power plants for five days to allow talks to continue. Still, caution remains, and the optimism in financial markets was measured. Shortly after Trump’s announcement — hours before his original deadline was set to expire — Iranian state television declared that the American leader had backed down “following Iran’s firm warning.” And a state-owned newspaper said Iran’s Foreign Ministry denied that any negotiations have taken place with the U.S.
The price of Brent crude fell as low as $96 immediately after Trump’s announcement of the postponement, but it quickly recovered a chunk of that loss. Benchmark U.S. crude had a similar reaction, immediately falling toward $84 per barrel before paring its loss and reaching $90.85.
Financial markets have gone through vicious swings up and down since the war began because of uncertainty about how long it may last. The fear is that the war could keep so much oil and natural gas from the Persian Gulf off global markets that it sends a debilitating wave of inflation crashing through the global economy.
That in turn could keep the Federal Reserve and other central banks from resuming their cuts to interest rates, which would give the global economy and prices for investments a boost.
Still, the overriding reaction in financial markets on Monday was one of relief. The Dow Jones Industrial Average was up 654 points, or 1.4%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 1.6% higher.
In Europe, stock indexes immediately flipped from losses to gains following Trump’s announcement and then held onto them. France’s CAC 40 jumped 1.3%, and Germany’s DAX returned 1.8%.
That compares with sharp drops for Asian stock indexes, which finished trading before Trump made his announcement. South Korea’s Kospi careened 6.5% lower, Japan’s Nikkei 225 dropped 3.5% and Hong Kong’s Hang Seng fell 3.5%.
Treasury yields also eased in the bond market following Trump’s announcement. But like oil prices, they nevertheless remain well above where they were before the war began.
The yield on the 10-year Treasury fell to 4.38% from 4.39% late Friday. But it remains solidly above its 3.97% level from just before the war.
AP Business Writers Yuri Kageyama, Matt Ott and Chan Ho-him contributed.
Michael Capolino works on the floor at the New York Stock Exchange in New York, Thursday, March 19, 2026. (AP Photo/Seth Wenig)
The New York Stock Exchange is seen in New York, Thursday, March 19, 2026. (AP Photo/Seth Wenig)
The New York Stock Exchange is seen in New York, Thursday, March 19, 2026. (AP Photo/Seth Wenig)
FILE - Liberia-flagged tanker Shenlong Suezmax, carrying crude oil from Saudi Arabia, that arrived clearing the Strait of Hormuz, is seen at the Mumbai Port in Mumbai, India, Thursday, March 12, 2026. (AP Photo/Rafiq Maqbool, File)
A person walks near an electronic stock board showing Japan's Nikkei index at a securities firm Monday, March 23, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
A person looks at an electronic stock board showing Japan's Nikkei index chart at a securities firm Monday, March 23, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
Traders work on the floor at the New York Stock Exchange in New York, Thursday, March 19, 2026. (AP Photo/Seth Wenig)
