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 plus the conversion of Armada Hoffler’s existing mezzanine loan to equity and limited partnership interest.
Phase One opened in 2021 at 1115 Howell Mill Road NW with 311,000 square feet of office and retail space along with an 835-space garage, hotel accommodations and residential units. At the time of sale it was 89 percent leased.
SJC Ventures is still working on Phase Two which will be completed by 2024 featuring 186,000 square feet of office space as well as 92,000 square feet for retail use plus a 682 bed student housing tower.
