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CHARLOTTE, N.C. — Armada Hoffler Properties, a publicly traded REIT based in Virginia Beach, Va., has entered into a joint venture with Southern Apartment Group to develop and own a new $45 million apartment community in Midtown Charlotte. The eight-story project will feature 225 apartment residences and a 350-space parking structure. Armada Hoffler and Southern Apartment Group plan to break ground on the property in the fourth quarter for a targeted completion date in mid-2018.