Benzinga | Jul 20, 2021 09:32AM EDT

Harbor Custom Development Reports National Expansion Contract With Corporate Capital Solutions, No Terms Disclosed

Harbor Custom Development, Inc. ("Harbor," "Harbor Custom Homes(r)," 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 Harbor's real estate acquisition arm and provide project management consulting services on a national basis. Harbor Custom Homes has worked closely with CCS since the Company's IPO in August 2020, utilizing CCS's 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 country's 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 CCS's 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 Harbor's rapid growth," stated Christopher Deluca, Chief Executive Officer of Corporate Capital Solutions.