Armada Hoffler Announces Steps to Reduce Variable-Rate Debt Exposure

MT Newswires Live

Jan 29, 2025

Armada Hoffler Properties (AHH) announced Wednesday the steps it has taken since Q3 2024 to reduce its variable-rate debt exposure.

The company said it executed a $150 million floating-to-fixed rate swap, effective Jan. 2, for two years at a 2.5% fixed rate, costing $4.6 million, which fully hedges its variable-rate debt exposure through Q4 2025.

The company also repaid $45.6 million in secured variable-rate debt with a 6.80% weighted average interest rate, refinanced its Premier mixed-use property in November 2024 with a $29.4 million agency loan at a fixed 5.53% rate, replacing a $23.4 million variable-rate loan, and reduced its Secured Overnight Financing Rate, or SOFR-linked, revolving credit facility by $19 million as of Dec. 31, 2024.

Shares of Armada Hoffler were down 0.4% in recent Wednesday trading.

Price: 9.63, Change: -0.04, Percent Change: -0.41

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