XML 22 R9.htm IDEA: XBRL DOCUMENT v3.22.4
Business and Organization
12 Months Ended
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Business and Organization Business and Organization
 
Armada Hoffler Properties, Inc. (the "Company") is a full-service real estate company with extensive experience developing, building, owning, and managing high-quality, institutional-grade office, retail, and multifamily properties in attractive markets primarily throughout the Mid-Atlantic and Southeastern United States.
 
The Company is a real estate investment trust ("REIT"), the sole general partner of Armada Hoffler, L.P. (the "Operating Partnership"), and as of December 31, 2022, owned 76.7% of the economic interest in the Operating Partnership, of which 0.1% is held as general partnership units. The operations of the Company are carried on primarily through the Operating Partnership and the wholly-owned subsidiaries of the Operating Partnership. Both the Company and the Operating Partnership were formed on October 12, 2012 and commenced operations upon completion of the underwritten initial public offering of shares of the Company’s common stock (the "IPO") and certain related formation transactions on May 13, 2013.
 
 As of December 31, 2022, the Company's operating portfolio consisted of the following properties:  
PropertySegmentLocationOwnership Interest
4525 Main Street OfficeVirginia Beach, Virginia*100%
Armada Hoffler Tower OfficeVirginia Beach, Virginia*100%
Brooks Crossing Office OfficeNewport News, Virginia100%
Constellation Office OfficeBaltimore, Maryland**79%
(1)
One City Center OfficeDurham, North Carolina100%
One Columbus Office Virginia Beach, Virginia*100%
Thames Street Wharf OfficeBaltimore, Maryland**100%
Two ColumbusOfficeVirginia Beach, Virginia*100%
Wills WharfOfficeBaltimore, Maryland**100%
249 Central Park Retail RetailVirginia Beach, Virginia*100%
Apex Entertainment RetailVirginia Beach, Virginia*100%
Broad Creek Shopping Center RetailNorfolk, Virginia100%
Broadmoor Plaza RetailSouth Bend, Indiana100%
Brooks Crossing Retail RetailNewport News, Virginia65%
(2)
Columbus VillageRetailVirginia Beach, Virginia*100%
Columbus Village IIRetailVirginia Beach, Virginia*100%
Commerce Street Retail RetailVirginia Beach, Virginia*100%
Delray Beach Plaza RetailDelray Beach, Florida100%
Dimmock SquareRetailColonial Heights, Virginia100%
Fountain Plaza RetailRetailVirginia Beach, Virginia*100%
Greenbrier SquareRetailChesapeake, Virginia100%
Greentree Shopping CenterRetailChesapeake, Virginia100%
Hanbury Village RetailChesapeake, Virginia100%
Harrisonburg RegalRetail Harrisonburg, Virginia100%
Lexington SquareRetailLexington, South Carolina100%
Market at Mill CreekRetailMount Pleasant, South Carolina100%
Marketplace at Hilltop RetailVirginia Beach, Virginia100%
Nexton SquareRetail Summerville, South Carolina100%
North Hampton Market RetailTaylors, South Carolina100%
North Pointe Center RetailDurham, North Carolina100%
PropertySegmentLocationOwnership Interest
Overlook VillageRetailAsheville, North Carolina100%
Parkway Centre RetailMoultrie, Georgia100%
Parkway Marketplace RetailVirginia Beach, Virginia100%
Patterson PlaceRetailDurham, North Carolina100%
Pembroke SquareRetailVirginia Beach, Virginia*100%
Perry Hall MarketplaceRetailPerry Hall, Maryland100%
Premier RetailRetailVirginia Beach, Virginia*100%
Providence Plaza Retail Charlotte, North Carolina100%
Red Mill Commons RetailVirginia Beach, Virginia100%
Sandbridge Commons RetailVirginia Beach, Virginia100%
South Retail Retail Virginia Beach, Virginia*100%
South Square RetailDurham, North Carolina100%
Southgate Square RetailColonial Heights, Virginia100%
Southshore Shops RetailChesterfield, Virginia100%
Studio 56 Retail RetailVirginia Beach, Virginia*100%
Tyre Neck Harris TeeterRetailPortsmouth, Virginia100%
Wendover VillageRetailGreensboro, North Carolina100%
1305 Dock StreetMultifamilyBaltimore, Maryland**79%
(1)
1405 PointMultifamilyBaltimore, Maryland**100%
Edison ApartmentsMultifamilyRichmond, Virginia100%
Encore ApartmentsMultifamilyVirginia Beach, Virginia*100%
Gainesville ApartmentsMultifamilyGainesville, Georgia100%
Greenside ApartmentsMultifamilyCharlotte, North Carolina100%
Liberty ApartmentsMultifamilyNewport News, Virginia100%
Premier ApartmentsMultifamilyVirginia Beach, Virginia*100%
Smith’s LandingMultifamilyBlacksburg, Virginia100%
The CosmopolitanMultifamilyVirginia Beach, Virginia*100%
________________________________________
* Located in the Town Center of Virginia Beach
** Located at Harbor Point in Baltimore
(1) The Company owned a 90% economic interest in this property, including an 11% economic interest through a note receivable as of December 31, 2022. In January 2023 the Company acquired the additional 11% membership interest in the property in exchange for full satisfaction of $12.8 million note.
(2) The Company is entitled to a preferred return on its investment in this property.
 
As of December 31, 2022, the following properties were under development, redevelopment or not yet stabilized:
PropertySegmentLocationOwnership Interest
Chronicle MillMultifamilyBelmont, North Carolina85%
(1)
Southern PostMixed-useRoswell, Georgia100%
________________________________________
(1) We are entitled to a preferred return on our joint investment in this property.