Maryland

COMMERCIAL REAL ESTATE SPECIALISTS

Divaris Brokers Acquisition of Two Maryland Shopping Centers

Posted on April 24, 2015  /  in News Releases  /  No Comments

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.

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