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Armada Hoffler Properties Pricing of Public Offering of Common Stock

Armada Hoffler Properties, Inc. (NYSE: AHH) (the "Company") today announced that it has priced an underwritten public offering of 5,000,000 shares of its common stock at a public offering price of $9.05 per share, for net proceeds, after the underwriting discount but before estimated expenses of the offering payable by the Company, of approximately $43.1 million.

The offering is expected to close on September 15, 2014, subject to customary closing conditions. The Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares.

The Company intends to use the net proceeds from the offering to repay a portion of the indebtedness borrowed under its revolving credit facility, which was incurred to fund its development activities.

Baird, Raymond James and Stifel are serving as joint book-running managers for the offering. Janney Montgomery Scott, Oppenheimer & Co. and Wunderlich Securities are serving as co-managers for the offering.

Copies of the prospectus supplement and base prospectus relating to the common stock may be obtained from: Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 E. Wisconsin Avenue, Milwaukee, WI 53202, telephone: 800-792-2473 or email syndicate@rwbaird.com; Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, or by calling (800) 248-8863, or by email at prospectus@raymondjames.com; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One South Street, 15th Floor, Baltimore, MD 21202, telephone: (855) 300‐7136, email: SyndProspectus@stifel.com.

The offering is being made pursuant to a shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission on June 11, 2014. A preliminary prospectus supplement relating to the offering was filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Armada Hoffler Properties, Inc.

Armada Hoffler Properties, Inc. is a full service real estate company with extensive experience developing, building, owning and managing high-quality, institutional-grade office, retail and multifamily properties in attractive markets throughout the Mid-Atlantic United States. The Company intends to elect and qualify to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.

Forward-Looking Statements

Certain matters within this press release are discussed are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. For example, the fact that the offering has priced may imply that the offering will close, but the closing is subject to conditions customary in transactions of this type and may be delayed or may not occur at all. In addition, the fact that the underwriters have an option to purchase additional shares may imply that this option will be exercised. However, the underwriters are not under any obligation to exercise this option, or any portion of it, and may not do so. Investors should not place undue reliance upon forward-looking statements.

Contacts:

Armada Hoffler Properties, Inc.
Julie Loftus Trudell
Vice President of Investor Relations
757-366-6692
JTrudell@ArmadaHoffler.com

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