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Stock impact report

ARMADA HOFFLER PROPERTIES PROVIDES UPDATE ON 2020 ASSET RECYCLING INITIATIVE

Armada Hoffler Properties, Inc. (AHH) 
Last armada hoffler properties, inc. earnings: 4/30 06:00 am Check Earnings Report
US:NYSE Investor Relations: ir.armadahoffler.com
Company Research Source: GlobeNewswire
VIRGINIA BEACH, Va., April 09, 2020 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (AHH: NYSE) announced today that further activity under its 2020 asset recycling program has been indefinitely suspended. The Company had previously announced plans to acquire approximately $135 million of assets during 2020 by redeploying and reinvesting proceeds from anticipated dispositions. The Company announced today that its agreement to sell a portfolio of seven grocery-anchored retail assets for $106.5 million to an institutional buyer has been terminated. As a result, the Company has indefinitely postponed all asset acquisition activity. “The current coronavirus pandemic has served to emphasize the essential role that grocery-anchored retail centers play in our communities,” said Louis Haddad, President and Chief Executive Officer. “In addition to our multifamily and office properties, our portfolio of high-quality, well-located neighborhood centers, anchored by market dominant high-cr Show less Read more
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