Comstock and Sierra Springs Tap Newmark for Nevada Land-Power-Compute Platform

GlobeNewswire··US·Read original
2▲2 ▼0Impact / 5
Summary · why it matters

Comstock Inc. and Sierra Springs Opportunity Fund announced that SSOF has engaged Newmark for properties it holds in Silver Springs, Nevada. Newmark, a global commercial real estate and advisory firm and a leading advisor on data centers and powered land transactions, will advise SSOF on development strategy for the powered lands and will design and administer a competitive request-for-proposal process to identify and evaluate prospective development and operating partners. Comstock holds a 47.63% fully diluted ownership interest in SSOF, a qualified opportunity zone fund that owns Sierra Springs Enterprises, Inc., through which it owns or controls approximately 2,200 acres of land in Silver Springs, along with a leased manufacturing facility, the Silver Springs Regional Airport, significant water and sewer rights, and other infrastructure assets. Steve Golubchik, Executive Vice Chairman and President of Western Region Capital Markets, leads Newmark's relationship with SSOF and Comstock. Comstock Chief Executive Officer Corrado De Gasperis, who also serves as President of SSOF, said the companies have consolidated the potential for one of the most significant powered land positions for energy infrastructure, datacenters and advanced manufacturing in Northern Nevada. While completion of any development partnership or transaction is not guaranteed, the planned process is scheduled, with future updates anticipated through the fourth quarter of 2026.

Impact on assets 3

Synthetic Biology (non-pharma)▲ · 1 stocks
Comstock Inc.
LODE
▲ PositiveCapitalrelevance

Comstock holds a 47.63% stake in SSOF, whose Silver Springs powered-land platform is being advanced via Newmark's advisory and RFP process.

Real Estate▲ · 1 stocks
Newmark Group Inc
NMRK
▲ PositiveDemandrelevance

Newmark is engaged to advise SSOF on development strategy and administer the RFP process for the Nevada powered-land platform.

Others▲ · 1 stocks

Off-coverage companies 2

Sierra Springs Opportunity Fund Inc.Private▲ Positive
Capitalrelevance

SSOF engaged Newmark to advise on development strategy and run a competitive RFP for its Silver Springs powered lands.

Sierra Springs Enterprises, Inc.Private▲ Positive
Capitalrelevance

Sierra Springs Enterprises owns the ~2,200 acres and infrastructure that SSOF is positioning for datacenter and advanced-manufacturing development.

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