Welcome to our dedicated page for Armada Hoffler Pptys news (Ticker: AHH), a resource for investors and traders seeking the latest updates and insights on Armada Hoffler Pptys stock.
AH Realty Trust, Inc., formerly Armada Hoffler Properties, Inc., reports news on a self-managed, vertically integrated REIT that develops, builds, acquires, and manages office, retail, and multifamily properties primarily in the Mid-Atlantic and Southeastern United States. Company updates commonly address operating results, FFO and normalized FFO, portfolio occupancy, leasing activity, development and construction services, and property-level activity such as mixed-use office assets.
Recurring announcements also cover common and preferred stock dividends, tax treatment of distributions, earnings-call schedules, board and executive governance matters, and capital-structure disclosures tied to the company's operating partnership and preferred securities.
Armada Hoffler Properties (NYSE: AHH) has completed the acquisition of The Residences at Annapolis Junction, previously under mezzanine loan by the company. The property, featuring 416 luxury apartments, was refinanced with a 10-year $84 million loan at 2.74% interest for the first three years. Located in Howard County, Maryland, the community is near key locations like Fort Meade. The acquisition boosts Armada's multifamily portfolio to over 2,300 units, with a focus on high-demand Mid-Atlantic and Southeast markets.
Armada Hoffler Properties (NYSE: AHH) released its October rent collection update as of October 27, 2020, reporting a strong 96% collection rate across its portfolio. This includes 100% for office spaces, 97% for multifamily units, and 94% for retail. These numbers indicate resilience amidst the ongoing economic challenges due to COVID-19. The company, which operates primarily in the Mid-Atlantic and Southeastern U.S., expressed confidence in its tenants' ability to meet financial obligations despite external pressures.
Armada Hoffler Properties (NYSE: AHH) announced the termination of two leases with Regal Cinemas following the tenant's default. The reclaimed sites span 3 acres in the Town Center of Virginia Beach and nearly 10 acres near James Madison University in Harrisonburg. This strategic move allows the company to expedite redevelopment plans, enhancing its focus on creative, mixed-use developments, which include residential components. CEO Louis Haddad emphasized the advantage of their integrated approach to respond swiftly to market changes, aiming to unlock value for shareholders.
Armada Hoffler Properties, Inc. (NYSE: AHH) will announce its earnings for Q3 2020 on November 5, 2020, at 6:00 a.m. ET. A conference call led by senior management will follow at 8:30 a.m. ET to discuss earnings and company updates. Investors can join the call by dialing 877-407-3982 (domestic) or 201-493-6780 (international). A replay will be available until December 5, 2020. Armada Hoffler is a vertically-integrated REIT with 40 years of experience in developing and managing real estate properties, mainly in the Mid-Atlantic and Southeastern U.S.
Armada Hoffler Properties (NYSE: AHH) has successfully completed the acquisition of the Edison Apartments in Richmond, Virginia, for $25 million, which includes debt assumption and Operating Partnership Units issuance. This acquisition adds 174 contemporary units to their portfolio and includes a 365-space parking garage. The Edison is currently 97% leased. The transaction underscores the company’s strategy to enhance its multifamily asset base, with the addition of nearly 400 units across recent projects.
Armada Hoffler Properties (NYSE: AHH) reported a robust rental collection performance for September 2020, achieving 94% of total rents collected as of September 22. Office tenants maintained a perfect 100% payment rate, while multifamily and retail sectors reported 95% and 90% respectively. President & CEO Louis Haddad expressed optimism, noting an expected completion of Q3 with over 96% total rent collection. This demonstrates a positive trend in rent collections and indicates the company's readiness for future acquisitions and developments.
Armada Hoffler Properties (NYSE: AHH) announced a joint venture with Terwilliger Pappas to develop Solis Gainesville, a 223-unit multifamily project in Gainesville, Georgia, with a total investment of $52 million. This development will feature upscale amenities and public spaces, enhancing community connectivity. The groundbreaking is expected later this month, with completion anticipated in 2022. This venture marks the company's continuous efforts to achieve a balanced portfolio across various real estate segments, following their growth strategy in the Mid-Atlantic and Southeastern U.S.
Armada Hoffler announced that its One City Center in Durham will serve as WeWork's sole location in the area following the closure of another site. This 27-story mixed-use project features 130,000 square feet of office space, predominantly leased to Duke University, along with 22,000 square feet of retail. CEO Louis Haddad expressed enthusiasm for the continued partnership with WeWork, emphasizing their long-term commitment to flexibility in workspace solutions.
Armada Hoffler Properties (NYSE: AHH) reported a significant update on August rent collections, achieving 93% of total rents due as of August 21, 2020. Notably, office tenants demonstrated full compliance at 100%, while multifamily and retail tenants collected 92% and 89%, respectively. The company had previously collected over 95% of July rents and anticipates surpassing this threshold in August. Additionally, Armada Hoffler successfully raised nearly $90 million in new capital, paving the way for upcoming acquisitions and development activities.
Armada Hoffler Properties, Inc. (NYSE: AHH) announced a public offering of 3,600,000 shares of its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock at $24.75 per share, generating approximately $86.3 million in net proceeds. The offering is a re-opening and will close on August 20, 2020. Proceeds will be used to repay debts, including its revolving credit facility, and for potential acquisitions and corporate purposes. The Series A Preferred Stock is listed under the symbol 'AHHPrA' on the NYSE.