The 17-story 1405 Point in Harbor Point has a new majority owner.
Armada Hoffler Properties Inc. acquired a controlling stake this week in the waterfront high-rise apartment tower that opened last spring. The deal dates back to 2015 when Armada Hoffler provided Harbor Point developer Beatty Development Group with up to $23 million in mezzanine financing. Armada Hoffler has now acquired a 79 percent ownership stake in the property under an option it was given in the financing deal.
