Louis Haddad, president and CEO of Armada Hoffler Properties, Inc. (NYSE: AHH), joined REIT.com for a CEO Spotlight video interview at REITWorld 2015: NAREIT’s Annual Convention for All Things REIT at the Wynn Las Vegas.
Armada Hoffler develops, builds, owns and manages institutional-grade office, retail and multifamily properties in markets throughout the Mid-Atlantic United States. The company specializes in high-barrier-to-entry properties.
Haddad observed that as the company continues to actively manage its portfolio, it is not seeking a particular balance between the various components.
“We’re looking for the best opportunities. Right now, the balance is skewed a little more toward the retail side, but that is subject to change at any minute,” he said.
Haddad also discussed the company’s capacity to raise its earnings guidance for the last three consecutive quarters. He attributed the improved outlook to faster lease-ups in the multifamily sector, as well as “superior results” in the construction side of the business. “It sets us up very well for next year (2016),” he said.
Haddad elaborated on Armada Hoffler’s construction operations.
The company offers general contracting, construction management and design build project delivery, as well as a broad spectrum of preconstruction services. Haddad said opportunities are “at an all-time-high right now.” Armada Hoffler has been able to “earn money at the highest end of its range for the last couple of years, and we see that continuing,” according to Haddad.