June 3, 2020

ARMADA HOFFLER PROPERTIES COMPLETES $90 MILLION RETAIL PORTFOLIO SALE

“Armada Hoffler, the Virginia Beach-based commercial developer and property owner, had announced in early April that a deal to sell seven of its grocery-anchored shopping centers for $106.5 million had fallen through because of the coronavirus pandemic.

On Monday, the company said a new deal with the same buyer had closed, this time selling the properties for $90 million. The buyer was a Canadian company focused on owning U.S. grocery-anchored shopping centers, Slate Retail REIT.”

Read more on www.pilotonline.com.

 

 

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UPDATE AS OF June 1, 2020: At Armada Hoffler, our goal remains the safety and well-being of our employees, their families and all of our stakeholder groups.  In response to the ongoing COVID-19 pandemic, our offices have pivoted to a phased-in approach consisting of remote work and in office work. We are working every day to remain consistent with guidelines and protocol issued by the state authorities. Implementation of contingency plans for unseen circumstances such as this, allow our employees to conduct business as usual, regardless of office location. We are committed to providing the same support to our partners and tenants as well as continued communication for our investors. We have always been dedicated to the communities around us and devoted to do our part to keep them safe. We will continue to monitor the situation as it progresses and provide updates as needed.