Harbor Custom Development strikes deal to sell 20 lots in Washington state to Noffke Land Holdings for US$3.8M
Harbor acquired 214 acres, which included 71 developed lots, adjacent to the Semiahmoo resort at Blaine in July this year
Company
Harbor Custom Development Inc.
NASDAQ:HCDI
Harbor Custom Development, Inc. is a real estate development company involved in all aspects of the land development cycle including land acquisition, entitlements, construction of project infrastructure, home building, marketing, sales, and management of various residential projects in Western Washington's Puget Sound region; Sacramento, California; Austin, Texas and Punta Gorda, Florida. As a land developer and builder of apartments, condominiums, single-family homes and luxury homes, Harbor Custom Development's business strategy is to acquire and develop land strategically based on an understanding of population growth patterns, entitlement restrictions, infrastructure development, and geo-economic forces. Harbor focuses on acquiring land with scenic views to develop and sell residential lots, new home communities, and multi-story condominium and apartment properties within a 20 to 60-minute commute of the nation's fastest-growing metro employment corridors. Harbor is leading the real estate industry as the first national land developer and home builder accepting payment in the form of cryptocurrency for its listed land, developed lots, residential homes, condominiums, and apartments.
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Harbor Custom Development enters contract to sell 24 developed lots in Washington State for $4.8M
In July 2021, Harbor acquired 214 acres which included 71 developed lots adjacent to the Semiahmoo resort in the town of Blaine
Harbor Custom Development enters contract to sell 30 developed lots in Horseshoe Bay, Texas for over $6M
“Selling the 30 Summit Rock lots demonstrates execution of our stated business objective by monetizing a portion of our real estate assets early in the development cycle,” president and CEO Sterling Griffin said
Harbor Custom Development authorizes repurchase of up to $5M worth of shares
“The board’s decision to authorize a stock repurchase plan demonstrates their confidence in Harbor’s business and growth opportunities we see over the long term,” said president and CEO Sterling Griffin
Harbor Custom Development appoints Lance Brown as the company’s new chief financial officer
Prior to joining Harbor, Brown was the vice president and chief accounting officer at Select Interior Concepts, where he was responsible for finance, accounting, SEC reporting, and tax
Harbor Custom Development reports estimated 3Q net income of $3.6M
The real estate development company also said it generated $18 million in revenue during the quarter
Harbor Custom Development expects to lead growth in housing development due to nationwide US shortage
The company said the coronavirus pandemic exacerbated the already significant shortage of housing nationally, which is now estimated at over five million units across the US
Harbor Custom Development closes on purchase of 4.31-acre property permitted for the construction of 75 condominium units in Yelm, Washington for $3.325M
Yelm is located 22 miles from Washington State's capital of Olympia to the south and 32 miles north to the downtown Tacoma job market. It offers easy access to several outdoor recreational opportunities such as the Yelm Tenino trail
Harbor Custom Development closes on $20M construction loan to build condominium complex in Tacoma, Washington
Located less than 10 minutes from downtown Tacoma’s urban core job market, the 80 condominiums will cater to first-time homebuyers searching for affordable options
Harbor Custom Development closes on $36M underwritten public offering
The real estate development company intends to use the net proceeds for land acquisition, construction, and development, and working capital