Armada Hoffler Properties’ Student Housing Portfolio 95% Pre-Leased
Armada Hoffler Properties (NYSE: AHH) announced a strong leasing update for its student housing properties, revealing a 95% pre-leased status for the 2020-2021 academic year as of July 27, 2020.
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Rhea-AI Summary
Armada Hoffler Properties (NYSE: AHH) announced a strong leasing update for its student housing properties, revealing a 95% pre-leased status for the 2020-2021 academic year as of July 27, 2020.
- Hoffler Place in Charleston, SC reports 100% occupancy.
- Summit Place in Charleston is 97% pre-leased.
- Johns Hopkins Village in Baltimore, MD shows 91% pre-leased status with additional prospects for remaining beds.
Positive
- 95% overall pre-leased status for student housing portfolio.
- 100% pre-leased at Hoffler Place in Charleston.
- Strong leasing at Summit Place and Johns Hopkins Village, indicating high demand.
Negative
- Only 91% pre-leased at Johns Hopkins Village, indicating potential availability risk.
Details
News Market Reaction – AHH
The recorded move for AHH in the trading session of this news was +2.78%.
Data tracked by StockTitan Argus. Session date unavailable.
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VIRGINIA BEACH, Va., July 28, 2020 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE: AHH) today provided a leasing update on its student housing properties. As of July 27, the Company’s student housing portfolio is
- Hoffler Place in Charleston, South Carolina is
100% pre-leased. - Summit Place in Charleston, South Carolina is
97% pre-leased. - Johns Hopkins Village (Nine East 33rd) in Baltimore, Maryland is
91% pre-leased.
“I am pleased to report that all three of our student housing assets will be essentially fully occupied for the coming school year,” said Louis Haddad, President and Chief Executive Officer. “Both of our Charleston properties, including the newly-delivered Summit Place, are effectively
About Armada Hoffler Properties, Inc.
Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. In addition to developing and building properties for its own account, the Company also provides development and general contracting construction services to third-party clients. Founded in 1979 by Daniel A. Hoffler, the Company has elected to be taxed as a REIT for U.S. federal income tax purposes. For more information, visit ArmadaHoffler.com.
Contact:
Michael P. O’Hara
Armada Hoffler Properties, Inc.
Chief Financial Officer, Treasurer, and Secretary
Email: MOHara@ArmadaHoffler.com
Phone: (757) 366-6684
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