Armada Hoffler Hits Reset to Focus on Retail, Office Portfolio

Armada Hoffler (NYSE: AHH) Chairman, President, and CEO Shawn Tibbetts says the launch of a new strategic direction for the REIT, which involves paring its portfolio to focus on retail and office properties, is all about creating a trajectory for continued, consistent growth that drives long-term shareholder value.

The Virginia Beach, Virginia-based REIT, founded in 1979, has spent four decades developing, building, acquiring, and managing institutional-grade office, retail, and multifamily properties primarily in the Mid-Atlantic and Southeastern United States. The company will rebrand as AH Realty Trust, Inc . (NYSE: AHRT) in early March.

In an interview with REIT.com, Tibbetts, who assumed the CEO role at the start of 2025 and became chairman this January, emphasized the solid foundation built by his predecessors while acknowledging the need to produce more value for shareholders. To achieve that, he said, “we need to decrease leverage and unlock some of the value pinned up in the portfolio—specifically in the multifamily space.”

The company has entered into a letter of intent with a global real estate investment management firm for the potential sale of 11 of the 14 multifamily assets in its portfolio. In addition to exiting multifamily, Armada Hoffler will step away from its construction business and all of its real estate financing platform investments.

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