VIRGINIA BEACH, Va.--(BUSINESS WIRE)--Armada Hoffler Properties, Inc. (NYSE: AHH) has completed its previously announced acquisition of Dimmock Square, a retail power center located in Colonial Heights, Virginia.
The Company acquired a 100% interest in Dimmock Square in exchange for approximately 990,000 of operating partnership units and approximately $10 million of cash. The acquisition is expected to be accretive to annual FFO per diluted share.
Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These forward-looking statements may include comments relating to, among other things, the impact of the acquisition of Dimmock Square on the Company’s FFO per diluted share. For a description of factors that may cause the Company's actual results or performance to differ from its forward-looking statements, please review the information under the heading “Risk Factors” included in the Company's Annual Report on Form 10-K for the year ended December 31, 2013, and other documents filed by the Company with the Securities and Exchange Commission.
About Armada Hoffler Properties, Inc.
Armada Hoffler Properties, Inc. is a full service real estate company with extensive experience developing, building, owning and managing high-quality, institutional-grade office, retail and multifamily properties in attractive markets throughout the Mid-Atlantic United States. The Company has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.