SEC Comment Letter for AH Realty Trust, Inc. (AHRT, AHRT-PA) (CIK 0001569187) (AHRT) — May 3, 2013
AH Realty Trust, Inc. (AHRT, AHRT-PA) (CIK 0001569187)
Date: May 3, 2013 · CIK: 0001569187 · Accession: 0000000000-13-024257
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May 2, 2013 Via E -mail Louis S. Haddad President and Chief Executive Officer Armada Hoffler Properties, Inc. 222 Central Park Avenue, Suite 2100 Virginia Beach, Virginia 23462 Re: Armada Hoffler Properties, Inc. Amendment No. 2 to Registration Statement on Form S -11 Filed April 25, 2013 File No. 333 -187513 Dear Mr. Haddad: We have reviewed your registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information . If you do not believe our comments apply to your fa cts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments. Distribution Policy, page 62 1. Please revise your disclosure to describe your estimated general contracting and real estate segment profit as a forecast. Financial Statements Unaudited Pro Forma Consolidated Financial Statements Pro Forma Consolidated Income Statement Note (FF), page F -8 2. Please enhance your disclosure to more thoroughly describe all the adjustments made for additional general and administrative expenses. In your revised disclosure please include Louis S. Haddad Armada Hoffler Properties, Inc. May 2, 2013 Page 2 a table summarizing each adjustment made which reconciles to the total amount included on the face of the pro forma consolidated income statement. We urge all persons who are responsible for the accuracy and adequacy of the disclosure in the filing to be certain that the filing i ncludes the information the Securities Act of 193 3 and all applicable Securities Act rules require. Since the company and its management are in possession of all facts relating to a company’s disclosure, they are responsible for the accuracy and adequacy of the disclosures they have made. Notwithstanding our comments, in the event you request acceleration of the effective date of the pending regist ration statement please provide a written statement from the company acknowledging that: should the Commission or the staff, acting pursuant to delegated authority, declare the filing effective, it does not foreclose the Commission from taking any action with respect to the filing; the action of the Commission or the staff, acting pursuant t o delegated authority, in declaring the filing effective, does not relieve the company from its full responsibility for the adequacy and accuracy of the disclosure in the filing; and the company may not assert staff comments and the declaration of effect iveness as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. Please refer to Rules 460 and 461 regarding requests for acceleration . We will consider a written request for accele ration of the effective date of the registration statement as confirmation of the fact that those requesting acceleration are aware of their respective responsibilities under the Securities Act of 1933 and the Securities Exchange Act of 1934 as they relate to the proposed public offering of the securities specified in the above registration statement. Please allow adequate time for us to review any amendment prior to the requested effective date of the registration statement. You may contact Shannon Sobotka, Staff Accountant, at (202) 551 -3856 or Robert Telewicz, Staff Accountant, at (202) 551 -3438 if you have questions regarding comments on the financial statements and related matters. Please contact Folake Ayoola, Attorney Advisor, at (202) 551 -3673 or Michael McTiernan at (202) 551 -3852 with any other questions. Sincerely, /s/ Tom Kluck Tom Kluck Legal Branch Chief