Armada Hoffler Announces Closing of Inaugural Private Debt Placement

Core Points - Armada Hoffler has successfully closed its inaugural private placement of $115 million in senior unsecured notes, issued in three tranches with maturities of 3, 5, and 7 years, at a blended interest rate of 5.86% and a weighted average maturity of 5.3 years [1][2] - The proceeds from the offering will be utilized for general corporate purposes and to refinance existing debt, enhancing the company's balance sheet flexibility and supporting its long-term strategy [2] - Morningstar DBRS reaffirmed Armada Hoffler's BBB credit rating in January 2025, revising its outlook to stable due to the company's improved leverage profile and diversified real estate portfolio [2] Company Overview - Armada Hoffler is a vertically integrated, self-managed real estate investment trust (REIT) with over 40 years of experience in developing, building, acquiring, and managing high-quality office, retail, and multifamily properties, primarily in the Mid-Atlantic and Southeastern United States [4] - The company also provides general construction and development services to third-party clients, in addition to developing properties for its stabilized portfolio [4]