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Washington DC  + DC Metro  + Apartments  | 
Armada Hoffler Properties, Inc., has closed the sale of Hoffler Place in Charleston, SC.

Armada Hoffler Graduates from Student Housing to Traditional Multifamily

Virginia Beach, VA-based Armada Hoffler Properties, Inc., has closed the sale of Hoffler Place in Charleston, SC. Hoffler Place was one of two remaining student housing assets in the company’s portfolio; the pending sale of Summit Place, also in Charleston, is anticipated to close by the end of April.

The company is in the process of executing a strategic plan to exit the student housing space and utilize the proceeds for new development and acquisition opportunities centered around conventional multifamily, mixed-use and grocery-anchored shopping center properties.

“As we’ve said before, one of the strengths of a diversified model is our ability to adjust and adapt to changing economic dynamics,” said Louis Haddad, president and CEO of Armada Hoffler Properties. “Based on current, favorable market conditions, our student housing assets represent one of the most attractive sources of capital available to fund our future growth.”

The 2019-constructed Hoffler Place caters to College of Charleston students.

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Inside The Story

Armada Hoffler Properties' Haddad

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
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