Armada Hoffler Properties’ Student Housing Portfolio 95% Pre-Leased

Rhea-AI Summary

Armada Hoffler Properties (NYSE: AHH) announced a strong leasing update for its student housing properties, revealing a 95% pre-leased status for the 2020-2021 academic year as of July 27, 2020.

• Hoffler Place in Charleston, SC reports 100% occupancy.
• Summit Place in Charleston is 97% pre-leased.
• Johns Hopkins Village in Baltimore, MD shows 91% pre-leased status with additional prospects for remaining beds.

CEO Louis Haddad expressed satisfaction with the leasing performance, indicating effective occupancy in key markets.

Positive

• 95% overall pre-leased status for student housing portfolio.
• 100% pre-leased at Hoffler Place in Charleston.
• Strong leasing at Summit Place and Johns Hopkins Village, indicating high demand.

Negative

• Only 91% pre-leased at Johns Hopkins Village, indicating potential availability risk.

VIRGINIA BEACH, Va., July 28, 2020 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE: AHH) today provided a leasing update on its student housing properties. As of July 27, the Company’s student housing portfolio is 95% pre-leased for the 2020-2021 academic year.

• Hoffler Place in Charleston, South Carolina is 100% pre-leased.
• Summit Place in Charleston, South Carolina is 97% pre-leased.
• Johns Hopkins Village (Nine East 33^rd) in Baltimore, Maryland is 91% pre-leased.

“I am pleased to report that all three of our student housing assets will be essentially fully occupied for the coming school year,” said Louis Haddad, President and Chief Executive Officer. “Both of our Charleston properties, including the newly-delivered Summit Place, are effectively 100% pre-leased and at Johns Hopkins, we have ample prospects for the remaining available beds. Our Class-A communities strive to provide clean, safe, and healthy living environments for returning students. As part of the Johns Hopkins University and College of Charleston communities, we are excited to welcome students back to campus.”

About Armada Hoffler Properties, Inc.
Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. In addition to developing and building properties for its own account, the Company also provides development and general contracting construction services to third-party clients. Founded in 1979 by Daniel A. Hoffler, the Company has elected to be taxed as a REIT for U.S. federal income tax purposes. For more information, visit ArmadaHoffler.com.

Contact:
Michael P. O’Hara
Armada Hoffler Properties, Inc.
Chief Financial Officer, Treasurer, and Secretary
Email: MOHara@ArmadaHoffler.com
Phone: (757) 366-6684

FAQ

What is the leasing status of Armada Hoffler Properties' student housing for the 2020-2021 academic year?

As of July 27, 2020, Armada Hoffler Properties' student housing portfolio is 95% pre-leased.

What are the pre-leased percentages for individual properties of AHH?

Hoffler Place is 100% pre-leased, Summit Place is 97% pre-leased, and Johns Hopkins Village is 91% pre-leased.

Who is the CEO of Armada Hoffler Properties?

The CEO of Armada Hoffler Properties is Louis Haddad.