VIRGINIA BEACH, VA—Armada Hoffler Properties has acquired a controlling interest in 1405 Point, a 17-story luxury high-rise apartment building located in the emerging Harbor Point area of the Baltimore waterfront. Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing. “We continue to see foreign capital buying core deals in Center City, Philadelphia,” says Ken Wellar, managing partner at Rittenhouse Realty Advisors.