Armada Hoffler to repay revolver borrowings via preferred proceeds

By Taylor Fox

New York, Aug. 13 – Armada Hoffler Properties, Inc. intends to repay outstanding debt, including amounts outstanding under its unsecured revolving credit facility, using proceeds from its new offering of 6.75% series A cumulative redeemable perpetual preferred stock, according to a news release.

Any remaining proceeds will be used to fund potential acquisitions and/or for general corporate purposes and working capital, including development, redevelopment, construction and other commitments

Armada is a real estate company based in Virginia Beach.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.