Armada Hoffler recently acquired Phase One of The Interlock, a mixed-use 9-acre development in West Midtown Atlanta, for $215 million from SJC Ventures. The off-market transaction included $100 million in fixed-rate financing and the conversion of Armada Hoffler’s existing mezzanine loan to equity plus limited partnership interest. Expected to close this quarter, the deal covers 311,000 square feet of office and retail space with an 835-space garage as well as a hotel and residential space that was 89 percent leased at sale time.
Phase Two is still under construction by SJC with completion expected in 2024; it will include 186,000 square feet of office space along with 92,000 square feet of retail space plus a 682 bed student housing tower.
Armada Hoffler served as general contractor for Phase One which opened earlier this year at 1115 Howell Mill Road NW – part of the total estimated cost being $750 million dollars for both phases combined
