OLD GREENWICH, Conn., Jan. 7, 2025 - Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) announced that KBS Builders, a subsidiary of the company, has secured a $3.2 million contract to manufacture a multifamily housing project in Maine.

The contract involves the creation of 40 modules for five 4-unit townhouse condominiums in Lincoln County, Maine. Production is slated to begin in January, with deliveries set for the second quarter of 2025. This project follows the $2.1 million Vermont project announced in December, marking the second of two contracts worth over $5 million referenced in Star’s third-quarter earnings release for 2024.

Rick Coleman, CEO of Star, stated, “This project marks another multifamily housing win for us in Maine and further solidifies KBS’ strong reputation and market position in New England. We are pleased with the recent pace at which we have been converting large commercial projects from our sales pipeline into booked backlog.”

He added, “We believe our location and expertise uniquely position us to address the shortage of housing in New England and allow us to provide best-in-class construction solutions for our customers.”

About Star Equity Holdings, Inc.

‍Star Equity Holdings, Inc. is a diversified holding company with two divisions: Building Solutions and Investments. The Building Solutions division operates in modular building manufacturing, structural wall panel and wood foundation manufacturing, and glue-laminated timber manufacturing. The Investments division manages the company’s real estate assets and investments in private and public companies.