September 24, 2020

Armada Hoffler Properties Provides September Rent Collection Update

September rent collections currently at 94%

VIRGINIA BEACH, VA, September 24, 2020 — Armada Hoffler Properties, Inc. (NYSE: AHH) today provided an update on rent collections for September. As of September 22nd, the Company collected 94% of total portfolio rents due for the month; office tenants paid 100%, multifamily tenants paid 95%, and retail tenants paid 90%.

“We are pleased to report continued and sustained improvement in our portfolio rent collections,” said Louis Haddad, President & CEO. “Collections for the month of September are ahead of our prior month’s pace across the portfolio and we anticipate finishing the quarter with over 96% of portfolio rents collected. These results coupled with added liquidity provide us further confidence as we turn our attention to growing our asset base through acquisitions and ground-up development.”

Monthly rent collections by tenant type and in the aggregate across the Company’s portfolio are presented in the below table:

 

 

Rent Collected as a % of Monthly Billings

  Full Month As of
Tenant Type(1) July 2020 August 2020 September 22, 2020
Office 100% 100% 100%
Multifamily 99% 97% 95%
Retail 92% 92% 90%
Portfolio 96% 96% 94%
(1) May differ from financial reporting segment groupings for tenants in mixed-use properties.

 

Recommended Articles