AHH - Armada Hoffler strategically exits from student housing space with last sale

Armada Hoffler Properties (NYSE:AHH) completed its strategic exit from the student housing space by closing the sale of Summit Place in Charleston, South Carolina. The disposition of the student housing property marks the final sale in the asset class thereby enabling the company to focus on conventional apartment communities when acquiring or developing multifamily assets. Armada Hoffler Properties is utilizing the proceeds for development and acquisition opportunities centered around conventional multifamily, mixed-use and grocery-anchored shopping center properties. Early this month, the company closed the sale of Hoffler Place, also in Charleston.

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Armada Hoffler strategically exits from student housing space with last sale