Comstock Holding Companies, Inc. announced that effective as of December 29, 2015, the company entered into a revolving line of credit promissory note with Comstock Growth Fund II, L.C. whereby CGF II made a loan to the company in the initial principal amount of $5 million and a maximum amount available for borrowing of up to $10 million with a two year term, which may be extended an additional year upon payment of a $10,000 extension fee. The interest rate is ten percent (10%) per annum, and interest payments will be paid in kind quarterly for the first year, and then paid current quarterly in arrears beginning March 31, 2017. The company pays an origination fee of one percent (1%) on the amount of the advance, up to an aggregate amount of $100,000, and a maintenance fee of one quarter of one percent (0.25%) of the average outstanding balance of the Loan on a quarterly basis.

The capital provided to the company by the Loan will be used by the company (i) to capitalize the company's current and future development pipeline, (ii) to repay all or a portion of the Company's prior private placements; and (iii) for general corporate purposes.