Armada Hoffler’s Partnership with Virginia Beach Enters New Phase

Lou Haddad, president and CEO of Armada Hoffler Properties, Inc. (NYSE: AHH), joined REIT.com for a CEO Spotlight video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.

Armada Hoffler owns and develops institutional-grade office, retail and multifamily properties in markets throughout the Mid-Atlantic United States.

Haddad discussed that company’s ongoing partnership with Virginia Beach, Virginia, which began in 2001. Armada Hoffler is about to launch phase six of the project, which involves ground-level luxury retailers, signature restaurants, a small performing arts center and multifamily space.

Haddad stressed that mixed-use development has been a core competency of the company for a long time. He noted that the live-work-play concept has really caught on, particularly with millennials. “It’s a trend that I think we’re going to continue to see,” he said.

On the acquisitions front, Haddad said the company is active in acquiring properties that will be long-term holds in the portfolio. Armada Hoffler is facilitating those deals through stock swaps and operating partnerships with “people who are interested in buying into the story,” he said.