Armada Hoffler takes controlling stake in Harbor Point apartment tower


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.

The company…

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