March 16, 2020

Armada Hoffler Properties Agrees To Sell Seven Retail Assets For $106.5 Million

As part of Armada Hoffler Properties’ (AHH: NYSE) previously announced asset recycling program, Armada Hoffler Properties announced today that it has entered into a definitive agreement with an institutional buyer to sell a portfolio of seven retail assets comprising over 630,000 square feet for $106.5 million. Management intends to use approximately $45 million of the proceeds from the sale to pay down debt and the remaining proceeds to consummate previously identified asset acquisitions.