M&A - Armada Hoffler Properties, Inc.

Form Type: 8-K

Filing Date: 2025-05-05

Corporate Action: Acquisition

Type: New

Accession Number: 000156918725000064

Filing Summary: On April 29, 2025, Armada Hoffler Properties, Inc. (the 'Company') announced a binding term sheet for the acquisition of the remaining partnership interest of Beatty Partner in Harbor Point Parcel 4. Currently, the Company holds a 77% interest while Beatty holds 23%. The acquisition will occur in two steps: the first involves acquiring a 13% interest for approximately $14.3 million, which includes repayment of $13.6 million in loans to Beatty. The second step includes acquiring an additional 10% interest, with the Armada Partner agreeing to deed the North Parcel to Beatty and pay $3.5 million in cash. Future arrangements regarding parking rights and easements between parties are also established. The acquisition will be financed partly by a new $90 million loan following the transaction, and all activities are expected to be concluded in Q2 2025, pending documentation and customary closing conditions.