Deal Details
Follow-On Offering
Summary
Baird served as a book-running manager to Armada Hoffler Properties, Inc.
About
Armada Hoffler Properties, Inc. (“Armada” or the “Company”) (NYSE: AHH) recently completed a follow-on offering of 3,450,000 shares of common stock at a price of $10.70 per share, generating gross proceeds of approximately $37.0 million. The Company intends to use the net proceeds from the offering, along with asset sales, to acquire an identified portfolio of eleven shopping centers and to repay outstanding debt.Armada develops, acquires, owns and operates high quality office, retail and multifamily properties in the Mid-Atlantic region. As of September 30, 2015, Armada Hoffler’s stabilized operating property portfolio was comprised of eight office properties and thirty retail properties aggregating over 3.1 million net rentable square feet as well as four multifamily properties aggregating 1,109 apartment units. In addition to Armada’s operating property portfolio, it had one office property and two retail properties aggregating over 0.3 million net rentable square feet as well as two multifamily properties aggregating 446 apartment units that were under development or had not yet reached stabilization as of September 30, 2015. Armada is headquartered in Virginia Beach, Virginia.
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- Date
- December 2015
- Company
- Armada Hoffler Properties, Inc.
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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