- Generated Pro Forma Core FFO of $6.5 million, or $0.20 per share.
- Average occupancy stable at 93.5% compared to the prior quarter and year end 2012.
- Executed new and renewal leases totaling over 80,000 square feet in the office and retail property portfolios.
- Development pipeline of six properties, consisting of 384,600 square feet of office and retail property and 491 multifamily units. The Main Street Office development in Virginia Beach is 46% pre-leased.
- Engaged in 17 construction contracts at an estimated value of approximately $117.3 million, with approximately $58.2 million of work still to be completed.
- Completed a successful initial public offering (IPO) raising gross proceeds of approximately $218.5 million.
Armada Hoffler Properties, Inc. (NYSE: AHH), a full service real estate company, which develops and owns high-quality office, retail and multifamily properties in key Mid-Atlantic markets, today announced its pro forma results for the quarter ended June 30, 2013. Company Highlights for the Second Quarter 2013