Financial Services and Front Office Executive and Former NBA Player Wally Walker Appointed to Harbor Custom Development, Inc....
October 19 2020 - 8:00AM
Harbor Custom Development, Inc. (“Harbor” “Harbor Custom Homes™” or
the “Company”), (NASDAQ:HCDI), an innovative and market leading
real estate company involved in all aspects of the land development
cycle, today announced that it has appointed Walter (“Wally”)
Walker to the Company’s Board of Directors, effective immediately.
Mr. Walker will be an independent director in accordance with
the applicable rules of the Nasdaq Stock Market LLC.
In 1987, following a nine-year career as a
professional basketball player, Mr. Walker began his financial
services career at Goldman Sachs & Co, serving as Vice
President of Private Client Services, becoming a Chartered
Financial Analyst in 1992. In 1994, Mr. Walker returned to
professional basketball in the front office to become President of
the Seattle SuperSonics of the NBA. Beginning in 2001, he took on
the additional role of CEO with the SuperSonics, and served as
President and CEO of the Seattle Storm of the WNBA. Upon the sale
of the Seattle franchises in 2006, Walker founded Hana Road
Capital, LLC, an investment advisory firm in 2007, which he
continues to own as well as serving as Chief Investment Officer.
Since 2005, Mr. Walker has been a member of the Advisory Council of
Stone Arch Capital, a Minneapolis based private equity firm. Mr.
Walker also serves on the Board of Trustees of Smead Capital
Management, a Seattle based mutual fund. In 2017, Mr. Walker was
named an independent director on the Board of Directors of Atlas
Financial Holdings, Inc. Mr. Walker graduated from the University
of Virginia in 1976 as an Academic All-American with a BA in
psychology. and upon retiring as a player from professional
basketball in 1985, he attained a Masters of Business
Administration from Stanford University Graduate School of Business
in 1987.
Sterling Griffin, President and CEO of Harbor
stated, “We are delighted to welcome Wally to the Harbor team as an
independent Board Director. Wally’s stellar collegiate and
professional basketball career as a player foreshadowed his
abilities and characteristics as a proven winner and leader which
he transitioned from the court to Wall Street and the front office
on some of the world’s biggest stages.”
Mr. Walker commented, “I am honored to be named
an independent director at Harbor Custom Development, Inc.
The Company is extremely well positioned to capitalize on the
unique market forces that have driven home inventory to
historically low levels, at a time when demand for suburban
residential living is in high demand. I look forward to
helping Harbor Custom Development, Inc. realize its potential,
while representing the interest of its stakeholders.”
About Harbor Custom Development, Inc.
Harbor Custom Development, Inc., dba Harbor
Custom Homes™, is a real estate development company involved in all
aspects of the land development cycle including land acquisition,
entitlements, construction of project infrastructure, home
building, marketing, sales, and management of various residential
projects in Western Washington’s Puget Sound region. Harbor has
active or recently sold out residential communities in Gig Harbor,
Bremerton, Silverdale, Bainbridge Island, and Allyn in the state of
Washington. Harbor Custom Development’s business strategy is to
acquire and develop land strategically, based on an understanding
of population growth patterns, entitlement restrictions,
infrastructure development, and geo-economic forces. Harbor
focuses on real estate within target markets with convenient access
to metropolitan areas that are generally characterized by diverse
economic and employment bases and increasing populations. For more
information on Harbor Custom Development, Inc., please visit
www.harborcustomdev.com.
Forward-Looking Statements
Certain statements in this press release
constitute “forward-looking statements” within the meaning of the
federal securities laws. Words such as “may,” “might,”
“should,” “believe,” “expect,” “anticipate,” “estimate,”
“continue,” “predict,” “forecast,” “project,” “plan,” “intend” or
similar expressions, or statements regarding intent, belief, or
current expectations, are forward-looking statements. These
forward-looking statements are based upon current estimates and
assumptions. While the Company believes these forward-looking
statements are reasonable, undue reliance should not be placed on
any such forward-looking statements, which are based on information
available to us on the date of this release. These
forward-looking statements are subject to various risks and
uncertainties, including without limitation those set forth in the
Company’s filings with the Securities and Exchange
Commission. Thus, actual results could be materially
different. The Company expressly disclaims any obligation to
update or alter statements whether as a result of new information,
future events or otherwise, except as required by law.
Investor Relations
Hanover International
IR@harborcustomdev.com
866-744-0974
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