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| January 1, 2005 |
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HFH INVESTS IN COMMUNITY DYNAMICS
SANTA MONICA, CA – Loren Bloch, Community Dynamics’ President, announced the sale of a 40% minority interest in the Company’s development arm, ComDyn LLC, to HFH, Ltd., a Los Angeles based owner-operator of income producing real estate. |
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In return, Community Dynamics will receive a series of capital contributions which will provide the company with substantial operating reserves and project development capital for the next several years. HFH’s capital infusion will “provide the Company with an opportunity to grow our business and choose our development sites selectively,” Bloch said.
Prior to its acquisition of an interest in the Company, HFH invested with Dynamics in three successful residential development projects delivering more than $40 million in revenues over a four year period. HFH brings 40 years of experience and more than $60 million in assets as an owner-operator of commercial, industrial and residential income property throughout the United States to the relationship.
"We feel that this marriage of interests brings added resources, capabilities and perspective to the Company that can only strengthen our underpinnings and better provide for future growth," said Josh Freeman, the Company's spokesperson.
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