Armada Hoffler Properties may sell 3 million common shares to public

Raymond James, Baird, Stifel help fund credit facility debt repayment

By Devika Patel

Knoxville, Tenn., Dec. 3 – Armada Hoffler Properties, Inc. will sell 3 million common shares in a public sale with a 30-day greenshoe of 450,000 additional shares, according to a preliminary prospectus supplement filed Thursday with the Securities and Exchange Commission.

Raymond James & Associates, Baird and Stifel Nicolaus & Co. are the bookrunners.

Proceeds will be used to pay down debt under the company’s unsecured revolving credit facility, which will allow it to re-borrow the debt to acquire a portfolio of 11 retail properties.

The real estate company is based in Virginia Beach.

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