Armada Hoffler Properties has completed the sale of $90M in retail assets representing 15% of their retail portfolio.
“This transaction represents a significant step toward achieving our longer-term goal of improving overall portfolio quality, focused on ground-up multifamily and urban infill mixed-use development projects, leading to both net asset value growth and future value creation for our shareholders.”
Louis Haddad, President & CEO of Armada Hoffler Properties
The deal significantly reduces the amount of retail assets in the portfolio and increases the company’s liquidity position during this period of uncertainty.