Armada Hoffler Properties, Inc. (NYSE:AHH) Q4 2023 Earnings Call Transcript

Matthew T. Barnes-Smith: Yes. Certainly, great question. We have, in fact, replaced all of those derivatives. So, if you look on our debt management page, Page 12 of the supplemental, you will see that we are over a 100% hedged. So, that one in March has already been replaced. We replaced those in October or November of 2023. What we have done, as I’ve said, is our weighted average cost of debt across the whole portfolio is now 4%, and we expect that to remain consistent through ‘24 and ‘25 when those set of derivatives expire in the latter half last quarter of 2025.

Andrew Berger: Great. Thank you very much.

Matthew T. Barnes-Smith: Appreciate it. Thank you.

Operator: Thank you. There are no further questions at this time. You may proceed.

Louis S. Haddad: Thanks very much. Thanks for all your time and attention this morning. Please stay tuned for further announcements as we backfill that WeWork space as well as some other leases that are on the horizon. Have a great day.

Operator: Ladies and gentlemen, this concludes your conference call for today. We thank you for participating and ask that you please disconnect your lines.