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. This off-market transaction is expected to close this quarter and includes $100 million in fixed rate financing as well as the conversion of Armada Hoffler’s existing mezzanine loan to equity plus limited partnership interest.
Phase One opened in 2021 at 1115 Howell Mill Road NW and consists of 311,000 square feet of office and retail space, an 835-space garage, a hotel and residential space with 89 percent occupancy at the time it was sold. Phase Two is still being worked on by SJC with completion estimated for 2024; it will include 186,000 square feet of office space along with 92K SF retail area plus 682 bed student housing tower.
