March 19, 2020

Armada Hoffler Properties Provides Development Pipeline Update

Armada Hoffler Properties, Inc. (AHH: NYSE) today provided an update on the projects currently under development.

The Company announced that it will be deferring the previously announced Chronicle Mill, Southern Post, and Ten Tryon development projects until economic conditions stabilize. Each of these projects had previously been scheduled to commence during the second quarter of 2020.

The Company also announced that both Summit Place and Wills Wharf remain on schedule for delivery in 2020 as previously disclosed with sufficient construction loan commitments to fund the remaining estimated costs to complete.

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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.