Armada Hoffler Properties Inc
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
AHRT$6.38-1.2%Stored close · as of Nov 10, 2026
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Schedule III—Consolidated Real Estate Investments and Accumulated Depreciation
December 31, 2023
| Initial Cost · Cost Capitalized · Gross Carrying Amount · Year of | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Building and · Subsequent to · Building and · Accumulated · Net Carrying · Construction/ | |||||||||||
| Encumbrances · Land · Improvements · Acquisition · Land · Improvements · Total · Depreciation · Amount (1) · Acquisition | |||||||||||
| Retail | |||||||||||
| 249 Central Park Retail | $— | (2) | $713 | $— | $17,464 | $713 | $17,464 | $18,177 | $10,694 | $7,483 | 2004 |
| Apex Entertainment | — | (2) | 67 | — | 17,920 | 67 | 17,920 | 17,987 | 8,432 | 9,555 | 2002 |
| Broad Creek Shopping Center | — | (2) | — | — | 9,763 | — | 9,763 | 9,763 | 5,486 | 4,277 | 1997/2001 |
| Broadmoor Plaza | — | (2) | 2,410 | 9,010 | 1,607 | 2,410 | 10,617 | 13,027 | 3,827 | 9,200 | 1980/2016 |
| Brooks Crossing Retail | — | 117 | — | 2,512 | 117 | 2,512 | 2,629 | 537 | 2,092 | 2016 | |
| Columbus Village | — | (2) | 7,631 | 10,135 | 8,536 | 7,631 | 18,671 | 26,302 | 6,057 | 20,245 | 1980/2015 |
| Columbus Village II | — | (2) (3) | 8,853 | 10,922 | 153 | 8,853 | 11,075 | 19,928 | 6,035 | 13,893 | 1995/2016 |
| Commerce Street Retail | — | (2) | 118 | — | 3,357 | 118 | 3,357 | 3,475 | 2,185 | 1,290 | 2008 |
| Delray Beach Plaza | — | (2) | — | 27,151 | 486 | — | 27,637 | 27,637 | 2,720 | 24,917 | 2021 |
| Dimmock Square | — | (2) | 5,100 | 13,126 | 1,210 | 5,100 | 14,336 | 19,436 | 3,777 | 15,659 | 1998/2014 |
| Fountain Plaza Retail | — | (2) | 425 | — | 8,543 | 425 | 8,543 | 8,968 | 4,547 | 4,421 | 2004 |
| Greenbrier Square | 19,569 | 8,549 | 21,170 | 605 | 8,549 | 21,775 | 30,324 | 1,679 | 28,645 | 2017/2021 | |
| Greentree Shopping Center | — | (2) | 1,103 | — | 4,197 | 1,103 | 4,197 | 5,300 | 1,661 | 3,639 | 2014 |
| Hanbury Village | — | (2) | 2,566 | — | 16,655 | 2,566 | 16,655 | 19,221 | 8,553 | 10,668 | 2006 |
| Harrisonburg Regal | — | 1,554 | — | 4,148 | 1,554 | 4,148 | 5,702 | 2,628 | 3,074 | 1999 | |
| Lexington Square | 13,599 | 3,035 | 20,581 | 341 | 3,035 | 20,922 | 23,957 | 3,956 | 20,001 | 2017/2018 | |
| Market at Mill Creek | 11,347 | 2,042 | — | 21,167 | 2,042 | 21,167 | 23,209 | 3,484 | 19,725 | 2018 | |
| Marketplace at Hilltop | — | (2) | 2,023 | 19,886 | 1,388 | 2,023 | 21,274 | 23,297 | 2,752 | 20,545 | 2000/2019 |
| Nexton Square | 21,581 | 9,086 | 27,760 | 6,304 | 9,086 | 34,064 | 43,150 | 3,880 | 39,270 | 2020/2020 | |
| North Hampton Market | — | (2) | 7,250 | 10,210 | 1,017 | 7,250 | 11,227 | 18,477 | 3,415 | 15,062 | 2004/2016 |
| North Pointe Center | — | (4) | 1,276 | — | 23,292 | 1,276 | 23,292 | 24,568 | 12,513 | 12,055 | 1998 |
| Overlook Village | — | (2) | 6,328 | 20,101 | 701 | 6,328 | 20,802 | 27,130 | 1,764 | 25,366 | 1990/2021 |
| Parkway Centre | — | (2) | 1,372 | 7,864 | 184 | 1,372 | 8,048 | 9,420 | 1,467 | 7,953 | 2017/2018 |
| Parkway Marketplace | — | (2) | 1,150 | — | 4,175 | 1,150 | 4,175 | 5,325 | 2,534 | 2,791 | 1998 |
| Patterson Place | — | (2) | 15,060 | 20,180 | 1,447 | 15,060 | 21,627 | 36,687 | 5,162 | 31,525 | 2004/2016 |
| Pembroke Square | — | (2) | 14,513 | 9,290 | 446 | 14,513 | 9,736 | 24,249 | 799 | 23,450 | 1966/2015/2022 |
| Perry Hall Marketplace | — | (2) | 3,240 | 8,316 | 667 | 3,240 | 8,983 | 12,223 | 2,991 | 9,232 | 2001/2015 |
| Premier Retail | 7,898 | 318 | — | 15,496 | 318 | 15,496 | 15,814 | 2,756 | 13,058 | 2018 | |
| Providence Plaza | — | (2) | 9,950 | 12,369 | 2,530 | 9,950 | 14,899 | 24,849 | 4,225 | 20,624 | 2007/2015 |
| Red Mill Commons | 10,654 | (4) | 44,252 | 30,348 | 6,375 | 44,252 | 36,723 | 80,975 | 8,532 | 72,443 | 2000/2019 |
| Sandbridge Commons | — | (2) | 4,118 | — | 7,509 | 4,118 | 7,509 | 11,627 | 2,861 | 8,766 | 2015 |
| South Retail | — | (2) | 190 | — | 8,316 | 190 | 8,316 | 8,506 | 5,637 | 2,869 | 2002 |
| South Square | — | (2) | 14,130 | 12,670 | 1,296 | 14,130 | 13,966 | 28,096 | 3,762 | 24,334 | 1977/2016 |
| Southgate Square | 25,331 | 10,238 | 25,950 | 7,076 | 10,238 | 33,026 | 43,264 | 7,949 | 35,315 | 1991/2016 | |
| Southshore Shops | — | (2) | 1,770 | 6,509 | 726 | 1,770 | 7,235 | 9,005 | 1,704 | 7,301 | 2006/2016 |
| Studio 56 Retail | — | (2) | 76 | — | 3,806 | 76 | 3,806 | 3,882 | 1,375 | 2,507 | 2007 |
| Initial Cost · Cost Capitalized · Gross Carrying Amount · Year of | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Building and · Subsequent to · Building and · Accumulated · Net Carrying · Construction/ | ||||||||||||
| Encumbrances · Land · Improvements · Acquisition · Land · Improvements · Total · Depreciation · Amount (1) · Acquisition | ||||||||||||
| Tyre Neck Harris Teeter | — | (2) | — | — | 3,306 | — | 3,306 | 3,306 | 1,920 | 1,386 | 2011 | |
| Wendover Village | — | (2) | 19,893 | 22,638 | 1,393 | 19,893 | 24,031 | 43,924 | 5,256 | 38,668 | 2004/2016-2019 | |
| The Interlock Retail | — | (2) | — | 66,104 | 841 | — | 66,945 | 66,945 | 1,162 | 65,783 | 2021/2023 | |
| Total retail | $109,979 | $210,516 | $412,290 | $216,955 | $210,516 | $629,245 | $839,761 | $160,674 | $679,087 | |||
| Office | ||||||||||||
| 4525 Main Street | 30,074 | 982 | — | 47,170 | 982 | 47,170 | 48,152 | 15,795 | 32,357 | 2014 | ||
| Armada Hoffler Tower | — | (2) | 1,976 | — | 72,567 | 1,976 | 72,567 | 74,543 | 45,789 | 28,754 | 2002 | |
| Brooks Crossing Office | — | (2) | 295 | — | 19,497 | 295 | 19,497 | 19,792 | 3,123 | 16,669 | 2016/2019 | |
| Constellation Office | 175,000 | 21,152 | 176,943 | 1,910 | 21,152 | 178,853 | 200,005 | 9,279 | 190,726 | 2016/2022 | ||
| One City Center | — | (2) | 2,911 | 28,202 | 6,463 | 2,911 | 34,665 | 37,576 | 5,058 | 32,518 | 2019 | |
| One Columbus | — | (2) | 960 | 10,269 | 16,244 | 960 | 26,513 | 27,473 | 16,063 | 11,410 | 1984 | |
| Thames Street Wharf | 67,894 | 15,861 | 64,689 | 2,152 | 15,861 | 66,841 | 82,702 | 7,708 | 74,994 | 2010/2019 | ||
| Two Columbus | — | (2) | 53 | — | 22,167 | 53 | 22,167 | 22,220 | 11,693 | 10,527 | 2009 | |
| Wills Wharf | — | (2) | — | — | 113,200 | — | 113,200 | 113,200 | 11,893 | 101,307 | 2020 | |
| The Interlock Office | — | (2) | — | 117,864 | 758 | — | 118,622 | 118,622 | 2,022 | 116,600 | 2021/2023 | |
| Total office | $272,968 | $44,190 | $397,967 | $302,128 | $44,190 | $700,095 | $744,285 | $128,423 | $615,862 | |||
| Multifamily | ||||||||||||
| 1305 Dock Street | $— | $2,165 | $18,114 | $313 | $2,165 | $18,427 | $20,592 | $965 | $19,627 | 2016/2022 | ||
| 1405 Point | — | (2) | — | 95,466 | 4,258 | — | 99,724 | 99,724 | 15,090 | 84,634 | 2018/2019 | |
| Chronicle Mill | 34,438 | 1,788 | 533 | 57,523 | 1,788 | 58,056 | 59,844 | 2,301 | 57,543 | 2021 | ||
| The Edison | 15,179 | 3,428 | 18,582 | 1,592 | 3,428 | 20,174 | 23,602 | 2,819 | 20,783 | 1919/ 2014/2020 | ||
| Encore Apartments | 23,421 | 1,293 | — | 31,913 | 1,293 | 31,913 | 33,206 | 9,002 | 24,204 | 2014 | ||
| The Everly | 30,000 | 4,832 | — | 45,386 | 4,832 | 45,386 | 50,218 | 2,299 | 47,919 | 2020 | ||
| Greenside Apartments | 31,104 | 5,711 | — | 45,735 | 5,711 | 45,735 | 51,446 | 7,934 | 43,512 | 2018 | ||
| Liberty Apartments | 20,588 | 3,580 | 23,494 | 2,768 | 3,580 | 26,262 | 29,842 | 8,503 | 21,339 | 2013/2014 | ||
| Premier Apartments | 16,036 | 647 | — | 29,371 | 647 | 29,371 | 30,018 | 4,772 | 25,246 | 2018 | ||
| Smith’s Landing | 14,578 | — | 35,105 | 5,595 | — | 40,700 | 40,700 | 12,928 | 27,772 | 2009/2013 | ||
| Southern Post | 30,546 | 5,000 | — | 87,502 | 5,000 | 87,502 | 92,502 | — | 92,502 | 2021 | (5) | |
| The Cosmopolitan | 40,367 | 985 | — | 78,584 | 985 | 78,584 | 79,569 | 37,459 | 42,110 | 2006 | ||
| Total multifamily | $256,257 | $29,429 | $191,294 | $390,540 | $29,429 | $581,834 | $611,263 | $104,072 | $507,191 | |||
| Held for development | $— | (6) | $11,978 | $— | $— | $11,978 | $— | $11,978 | $— | $11,978 | ||
| Real estate investments | $639,204 | $296,113 | $1,001,551 | $909,623 | $296,113 | $1,911,174 | $2,207,287 | $393,169 | $1,814,118 | |||
(1)The net carrying amount of real estate for federal income tax purposes was $1,579.1 million as of December 31, 2023.
(2)Borrowing base collateral for the amended credit facility, M&T term loan facility, and TD term loan facility as of December 31, 2023.
(3)As of December 31, 2023, $5.7 million of this property's land value was included in held for development related to redevelopment plans.
(4)A portion of this property is borrowing base collateral for the amended credit facility, M&T term loan facility, and TD term loan facility as of December 31, 2023.
(5)Construction in progress as of December 31, 2023.
(6)Held for development includes Columbus Village II land held for redevelopment and Ten Tryon, both of which are borrowing base collateral for the amended credit facility, M&T term loan facility, and TD term loan facility as of December 31, 2023.
Income producing property is depreciated on a straight-line basis over the following estimated useful lives:
| Buildings | 39 years |
|---|---|
| Capital improvements | 5—20 years |
| Equipment | 3—7 years |
| Tenant improvements | Term of the related lease (or estimated useful life, if shorter) |
| Real Estate · Accumulated | ||||
|---|---|---|---|---|
| Investments · Depreciation | ||||
| December 31, | ||||
| 2023 | 2022 | 2023 | 2022 | |
| Balance at beginning of the year | $1,943,575 | $1,737,438 | $329,963 | $285,814 |
| Construction costs and improvements | 80,089 | 93,467 | — | — |
| Acquisitions | 183,982 | 242,423 | — | — |
| Dispositions | (260) | (129,342) | (260) | (10,396) |
| Reclassifications | (99) | (411) | — | — |
| Depreciation | — | — | 63,466 | 54,545 |
| Balance at end of the year | $2,207,287 | $1,943,575 | $393,169 | $329,963 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.