Lou Haddad, CEO of Armada Hoffler Properties (NYSE:AHH), sat down for a video interview at Nareit's REITweek: 2024 Investor Conference, held in New York June 3-6.
Haddad pointed to Armada Hoffler's latest earnings report, emphasizing a consistent 95% occupancy rate across all asset classes and attributing this success to a resilient mixed-use strategy. He highlighted the REIT’s ongoing $600 million development program set to launch in the second half of the year, projecting substantial growth into 2025 and beyond.
Haddad also discussed the Southern Post property in Roswell, Georgia, currently rolling out as a multifaceted development akin to Armada Hoffler’s acclaimed Virginia Beach Town Center and Harbor Point projects. This mixed-use complex integrates office, retail, and multifamily spaces, with early successes in leasing across all sectors. Haddad expressed high expectations for Southern Post, foreseeing rapid stabilization and significant NOI contributions starting in 2025.
Looking forward, Haddad emphasized Armada Hoffler's commitment to enhancing shareholder value through strategic expansions and maintaining occupancy resilience amidst economic fluctuations. The company's proactive development approach and diversified portfolio position them strongly for continued growth and stability in the commercial real estate sector. "Our mixed-use strategy, our live-work-play developments stay full virtually through any sort of economy,” Haddad said.