Harbor Custom Development Inc: Rises on land acquisition deal

Harbor Custom Development

22/09/2020 16:02

** Real estate company's shares  HCDI.O  rise 14.46% to
$5.78
    ** Co enters into a purchase and sale agreement for
acquiring 9.6 acres of land in Port Orchard, Washington for
$1.44 mln  urn:newsml:reuters.com:*:nGNXc268kv
    ** Co said the land will be used to develop a 144-unit
multi-family apartment complex 
    ** The deal will mark co's entry into Port Orchard rental
market, which has seen about 60% growth in population since 2009
to 2018 resulting in higher demand for apartment rentals

 (Reporting by Madhvi Pokhriyal in Bengaluru)
 ((madhvi.pokhriyal@thomsonreuters.com))