Armada Hoffler Acquires Full Ownership of Allied | Harbor Point

Core Viewpoint - Armada Hoffler has reached an agreement to acquire full ownership of Allied | Harbor Point, a 312-unit multifamily asset in Baltimore, aligning with its strategy to simplify operations and enhance long-term value [1][2][3] Acquisition Details - The agreement involves Armada Hoffler acquiring the minority interest from its joint venture partner, Beatty Development Group, transitioning to sole ownership [2] - The acquisition is expected to close in June, pending customary closing conditions [2] Strategic Intent - The CEO of Armada Hoffler emphasized the commitment to streamline operations and focus on wholly owned assets in prime mixed-use environments [3] - Full ownership of the Allied | Harbor Point asset is expected to enhance portfolio quality and provide 100% control and flexibility for future operations [3] Property Highlights - Allied | Harbor Point has shown strong demand since its opening in early 2025, featuring a landscaped rooftop terrace and waterfront views, making it a valuable addition to Armada Hoffler's portfolio [3] Company Overview - Armada Hoffler is a self-managed real estate investment trust (REIT) with over 40 years of experience in developing, acquiring, and managing high-quality properties primarily in the Mid-Atlantic and Southeastern United States [4] - The company also provides development and general contracting services to third-party clients, having been founded in 1979 [4]