Armada Hoffler Properties, Inc. announced the closing of the $75 million sale of student housing property Nine East 33rd in Baltimore, Maryland. This transaction is part of a strategic execution to exit the student housing space laid out by the company in previous earnings calls and to provide a ready source of inexpensive capital to fund development and acquisition opportunities. Armada Hoffler Properties plans to continue its strategy to invest in mixed-use assets, conventional multifamily and grocery anchored shopping centers.