AH Realty Trust sells financing investments for $63 million

AH Realty Trust (NYSE: AHRT) completed the sale of two multifamily real estate financing investments for $63 million. The company sold its investments in Solis North Creek and Solis Peachtree as part of its exit from the real estate financing program.

The transaction supports the company's strategic transformation aimed at simplifying its platform. AH Realty Trust plans to use proceeds to pay down debt and support its share repurchase program.

"By divesting our non-core assets, including our multifamily and real estate financing platforms, we are reducing leverage and sharpening our focus on our core retail and office portfolios," said Shawn Tibbetts, Chairman, President and Chief Executive Officer.

The company also announced the repurchase of approximately 3.6 million shares at $5.72 per share, totaling $22 million in recent capital markets activity.

AH Realty Trust, formerly Armada Hoffler, operates as a real estate investment trust focusing on retail and office assets primarily in the Mid-Atlantic and Southeastern United States. The information is based on a company press release.

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