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Real Estate Investments (Tables)
 9 Months Ended
Sep. 30, 2013
Real Estate Investments

Armada Hoffler’s real estate investments comprised the following as of September 30, 2013 and December 31, 2012 (in thousands):

 

                                           
     September 30,
2013		     December 31,
2012		  
     (Unaudited)        

Land

    $ 37,812      $ 24,511   

Land improvements

      12,567        11,543   

Buildings and improvements

      364,439        316,596   

Development costs

      4,173        2,090   

Construction in progress

      21,923        —     
  

 

 

    

 

 

  
     440,914        354,740   
  

 

 

    

 

 

  

Accumulated depreciation

      (101,920 )      (92,454 ) 
  

 

 

    

 

 

  

Net real estate investments

    $ 338,994      $ 262,286