- Funds From Operations (“FFO”) of $6.5 million, or $0.20 per diluted share.
- Core FFO of $7.1 million, or $0.22 per diluted share.
- Occupancy increased slightly to 94.5%, compared to 94.4% as of December 31, 2013.
- Eleven properties under development including approximately 675,000 square feet of office and retail space and 686 multifamily units.
- $165.9 million of new construction contract work, including the Harbor Point project in Baltimore, Maryland, and $193.3 million of backlog.
- Cash dividend of $0.16 per share payable on July 10, 2014 to stockholders of record on July 1, 2014.
- Anthropologie will be opening a 9,000 square foot store at the Town Center of Virginia Beach in the fourth quarter of 2014.
- Today, the Company announced two new development projects, both with the Commonwealth of Virginia, for a total of 47,000 square feet. Both properties will be 100% leased for 12 years starting in early 2015.
- In April, the Company announced Lightfoot Marketplace, a new shopping center in Williamsburg, Virginia that will be anchored by Harris Teeter on a 20-year lease.
- In January, the Company closed on the previously announced acquisition of Liberty Apartments in Newport News, Virginia.
Armada Hoffler Properties Reports First Quarter 2014 Results
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