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Armada Hoffler to repay debt with proceeds from retail asset sale
By Sarah Lizee
Olympia, Wash., March 16 – Armada Hoffler Properties, Inc. plans to pay down debt using some proceeds from the sale of a portfolio of seven retail assets comprising over 630,000 square feet for $106.5 million.
About $45 million of proceeds from the sale will be used for the paydown, and the remaining amount will be used to complete asset acquisitions.
Armada is a real estate company based in Virginia Beach.
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