Armada Hoffler to acquire full ownership of Harbor Point Parcel 4 JV for ~$17.8M and new $90M loan

AH Realty Trust, Inc.

Armada Partner exercises option to buy 13% of Beatty's JV interest for $14.3M; proceeds repay $13.6M of Beatty-affiliate loans.
Acquires remaining 10% for $3.5M cash and transfer of North Parcel; expects Q2 2025 close.
New $90M Bank of America loan secured by South Parcel will replace M&T Loan; M&T Loan partially repaid and modified.
Armada grants Beatty rights of first offer/refusal on South Parcel sale and future parking rights for North Parcel development.
Definitive documentation and customary closing conditions remain; parties will enter reciprocal easement and cost-sharing agreement.

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