VIRGINIA BEACH, VA – Gerald S. Divaris, Chairman and CEO of Divaris Real Estate, Inc. (DRE), announced that Armada Hoffler Properties has acquired two grocery-anchored shopping centers in Maryland, totaling 186,583 square feet. The properties were acquired for an aggregate of $20.2 million in cash, net of $15.2 million in 1031 exchange proceeds, and 415,500 shares of Armada Hoffler common stock.
Tags: armada hoffler, investment sales, Maryland, shopping centers