Comstock's Nevada land fund hires Newmark to find development partners

Comstock Inc. (NYSE: LODE) and Sierra Springs Opportunity Fund, Inc. (SSOF) have engaged Newmark (Nasdaq: NMRK) to advise on approximately 2,200 acres of land in Silver Springs, Nevada, according to a press release from the companies.

Comstock holds a 47.63% fully diluted ownership interest in SSOF, a qualified opportunity zone fund that owns Sierra Springs Enterprises, Inc. SSOF's holdings in Silver Springs include a leased manufacturing facility, the Silver Springs Regional Airport, water and sewer rights, and other infrastructure assets.

Newmark will advise SSOF on development strategy for the properties and will design and administer a competitive request-for-proposal process to identify and evaluate prospective development and operating partners. Steve Golubchik, Executive Vice Chairman and President of Newmark's Western Region Capital Markets, will lead the relationship.

Corrado De Gasperis, Comstock's Chief Executive Officer and President of SSOF, said the engagement is aimed at "maximizing value while mitigating Comstock's capital requirements."

The planned process is scheduled through the fourth quarter of 2026. The companies noted that the completion of any development partnership or transaction is not guaranteed.

Newmark reported more than $3.6 billion in revenue for the 12 months ended June 30, 2026, and operates from more than 195 offices with over 10,000 professionals across four continents.

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