Harbor Customized Growth, Inc. Secures $7,683,000 in Acquisition and Building Financing from Seem Funds Financial loans for Austin Metro Market Nasdaq: HCDI

Gig Harbor, Washington , March 17, 2021 (Globe NEWSWIRE) — Harbor Custom Advancement, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ: HCDI), an progressive and market foremost actual estate enterprise associated in all features of the land progress cycle, nowadays announced that it has secured $7,683,000 in funding from Sound Money for the acquisition of 30 a lot in Horseshoe Bay, Texas, and design financial loans for 9 plenty in Dripping Springs, Texas.

Harbor Customized Homes® formerly introduced contracting to purchase the 30 Horseshoe Bay, Texas loads which the Enterprise anticipates commencing house building on in the third quarter of 2021. The plenty are situated in the vicinity of the desired destination resort, “The Club at Horseshow Bay,” (clubhsbresort.com).  Anticipated pricing for the 4 and 5 bedroom homes will assortment from $600,000 to $1,000,000.  Harbor also anticipates beginning design on the 9 heaps in the La Ventana subdivision in Dripping Springs, Texas beginning in the 2nd quarter of 2021. The La Ventana tons typical one acre each and every.  Approximated pricing for the La Ventana residences ranges from $900,000 to $1,200,000.

Sterling Griffin, President and CEO of Harbor stated, “We are psyched to have secured this financing to build upscale single-spouse and children households in the Austin metro marketplace.  Harbor has a reliable small business marriage with Seem Funds which has supplied financing for quite a few of our Western Washington communities.  We also value David Huey and his staff for demonstrating their ongoing assistance for our Company’s growth outside of Washington Point out in each the Sacramento and Austin metro marketplaces.” 

David Huey, CEO of Audio Cash Loans, said, “We are happy to carry on entering into funding agreements with Harbor Custom Progress and to participate in the Company’s expansion in new markets. Sterling Griffin and Harbor’s management group have a deep knowledge of building benefit in the course of the complete acquisition, advancement, and property building approach as evidenced by their several household communities.  We are energized to be an integral aspect of their good results.”

About Harbor Custom made Enhancement, Inc.

Harbor Tailor made Progress, Inc. is a true estate progress company involved in all factors of the land improvement cycle together with land acquisition, entitlements, construction of venture infrastructure, household setting up, marketing, income, and management of a variety of household tasks in Washington state, California, and Texas.  Harbor has active or just lately marketed-out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the state of Washington. Harbor has also acquired formulated loads and strategies to start off setting up houses in the Sacramento and Austin metro markets starting in the second quarter of 2021. The Darkhorse Golf Study course group found around 50 miles northeast of Sacramento in Auburn, California, and the La Ventana and Bunker Ranch subdivisions positioned close to 22 miles from Austin, in Driftwood and Dripping Springs, Texas, are Harbor’s latest locations. Harbor Custom Development’s organization approach is to purchase and acquire land strategically, centered on an comprehending of populace progress patterns, entitlement constraints, infrastructure enhancement, and geo-financial forces. Harbor focuses on authentic estate in just target marketplaces with practical entry to metropolitan locations that are usually characterized by assorted economic and work bases and growing populations.  For more information on Harbor Customized Progress, Inc., remember to stop by www.harborcustomdev.com.

About Audio Cash Financial loans

Launched in 2007, Audio Cash Loans (formerly Audio Equity) has lifted hundreds of millions of dollars in investment decision funds to fund loans in the course of numerous West Coast and Southern U.S. markets.  Currently, they lend tens of millions for each month, funding all kinds of new design tasks, including ground-up and construction-completion loans.   Seem Capital’s wide know-how of new construction lending provides for the versatility of a custom made financial loan composition based mostly on a particular project’s properties.  With lending expectations that prioritize expertise and observe report, large quantity debtors have obtain to charges and conditions that are among the industry’s best.  For more facts, go to www.soundcapital.com

Forward-Looking Statements

Selected statements in this press release represent “forward-hunting statements” within the indicating of the federal securities legislation.  Words these types of as “may,” “might,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements with regards to intent, perception, or existing anticipations, are forward-seeking statements.  These forward-on the lookout statements are based on present-day estimates and assumptions.  Though the Corporation thinks these ahead-seeking statements are realistic, undue reliance need to not be positioned on any these ahead-wanting statements, which are based on info out there to us on the day of this release.  These forward-seeking statements are subject matter to many dangers and uncertainties, which include with out limitation these set forth in the Company’s filings with the Securities and Trade Fee.  So, actual benefits could be materially unique.  The Company expressly disclaims any obligation to update or change statements regardless of whether as a consequence of new data, foreseeable future events or usually, apart from as necessary by legislation.

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Hanover International