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AHH - Armada Hoffler closes $24M retail sale of two single-tenant assets
Armada Hoffler Properties Inc.
Armada Hoffler ( NYSE: AHH ) closed on the dispositio n of two single-tenant assets leased to Costco and Home Depot for $24M,
The 4.0% exit capitalization rate represents a substantial improvement over the 4.5% goal shared during its Q1 earnings in early May.
Earlier, the company announced its intent to sell up to $200M of noncore assets that were expected to yield premium prices in the current market environment before year end.