Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Derivatives

Armada Hoffler’s derivatives comprised the following as of December 31, 2013 and 2012 (in thousands):

	December 31,
	2013							2012
	Notional Amount		Fair Value					Notional Amount		Fair Value
			Asset		Liability					Asset		Liability
Pay fixed interest rate swaps	$	705	$	—	$	(16	)	$	11,721	$	—	$	(239	)
Interest rate caps		130,672		102		—			9,356		9		—
Total	$	131,377	$	102	$	(16	)	$	21,077	$	9	$	(239	)

The changes in the fair value of Armada Hoffler’s derivatives during each of the three years ended December 31, 2013 was as follows (in thousands):

	Years Ended December 31,
	2013			2012			2011
Pay fixed interest rate swaps	$	152		$	445		$	436
Interest rate caps		(164	)		(37	)		—
Other (expense) income	$	(12	)	$	408		$	436