REIT Armada Hoffler sets terms for $175 million IPO


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Armada Hoffler Properties, a REIT that develops, builds and owns office, retail and multifamily properties, announced terms for its IPO on Friday. The Virginia Beach, VA-based company plans to raise $175 million by offering 14.6 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Armada Hoffler Properties would command a market value of $333 million, which includes units expected to be issued in the formation transactions.

Armada Hoffler Properties, which was founded in 1979 and booked $108 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol AHH. Armada Hoffler Properties initially filed confidentially on 2/12/2013. Baird was originally listed as the sole bookrunner, but the most recent filling added Raymond James and Stifel as joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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