Discontinued Operations

6 Months Ended

Jun. 30, 2013

Discontinued Operations

10. Discontinued Operations

Armada Hoffler presents held for sale properties as discontinued operations only when Armada Hoffler will not have any significant continuing involvement in the properties’ operations after their disposition and when the properties’ operations and cash flows (i) can be clearly distinguished and (ii) will be eliminated from Armada Hoffler’s ongoing operations upon disposition. Armada Hoffler presented the held for sale Studio 56 Retail residential condominium units as discontinued operations during the three and six months ended June 30, 2012. Net sale proceeds during the three and six months ended June 30, 2012 were $0.5 million and $0.2 million, respectively. Armada Hoffler sold the last Studio 56 Retail residential condominium unit during the three months ended June 30, 2012. Armada Hoffler currently has no plans to develop and sell residential condominium units.