GlobeNewswire Inc | Jul 20, 2021 09:30AM EDT

July 20, 2021

Gig Harbor, Washington , July 20, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (Harbor, Harbor Custom Homes, or the Company), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has entered into a contract with Corporate Capital Solutions, Inc. (CCS) to guide Harbors real estate acquisition arm and provide project management consulting services on a national basis. Harbor Custom Homes has worked closely with CCS since the Companys IPO in August 2020, utilizing CCSs services in California, Texas, and Florida.

We are excited to establish this national contract with Corporate Capital Solutions allowing us to rapidly accelerate our footprint in the countrys fastest growing metro areas without deploying significant regional resources. This contract meets the key objective of our business plan by providing a clear direction for territorial expansion without requiring the significant costs associated with the traditional acquisition model for regional growth so often utilized by our peers, stated Sterling Griffin, President and CEO of Harbor Custom Development, Inc. We are pleased to formalize this relationship with a proven and trusted partner like Corporate Capital Solutions. We look forward to a nationwide value-driven growth strategy utilizing CCSs experience and expertise, stated Jeff Habersetzer, Chief Operating Officer of Harbor Custom Development, Inc.

Our entire team is thrilled with the opportunity to be a national service provider for Harbor Custom Development, Inc. Our network of real estate brokers, lenders, and project managers provides us the unique ability to support Harbors rapid growth, stated Christopher Deluca, Chief Executive Officer of Corporate Capital Solutions.

About Harbor Custom Development, Inc.

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 Washingtons Puget Sound region; Sacramento, California; and Austin, Texas. Harbor has active or recently sold-out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the state of Washington. In addition, Harbor has acquired land and will begin constructing homes in two new markets. In the Sacramento metro market, Harbor will be constructing homes in completed subdivisions in both Rocklin and Auburn, California. In the Austin metro market, Harbor has acquired developed lot inventory in Dripping Springs, Driftwood, and Horseshoe Bay, Texas. Harbor Custom Developments 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 real estate within target markets with convenient access to metropolitan areas that are generally characterized by diverse economic and employment bases and increasing populations. For more information on Harbor Custom Development, Inc., please visit www.harborcustomdev.com.

About Corporate Capital Solutions, Inc.

Corporate Capital Solutions, Inc. is a full-service financial services institution with a focus in financing land acquisition, construction, and real estate development projects worldwide. Corporate Capital Solutions, Inc. works with businesses across the US facilitating their financial needs by providing critical capital for property acquisition and business expansion. Corporate Capital Solutions has partnerships with some of the worlds premiere banking firms and lending institutions, allowing for fast and creative financing options for projects of all sizes. In addition to the financing and lending side, Corporate Capital Solutions also provides consulting services for clients in multiple capacities as well as project management services for real estate development and vertical construction. For more information on Corporate Capital Solutions, Inc., please visitwww.CorporateCapitalSolutions.com.

Forward-Looking Statements

Certain statements in this press release constitute forward-looking statements within the meaning of the federal securities laws. Words such as may, might, should, believe, expect, anticipate, estimate, continue, predict, forecast, project, plan, intend or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, including without limitation those set forth in the Companys filings with the Securities and Exchange Commission. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Investor RelationsHanover InternationalIR@harborcustomdev.com866-744-0974