Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Parkway Properties Closes Sale Of 12 Non-Core Assets - Quick Facts

RELATED NEWS
Trade PKY now with 

Parkway Properties Inc. (PKY: Quote) announced that 12 of the 15 properties included in Parkway's previously announced portfolio sale of non-core assets have closed. The 12 assets sold include five assets in Richmond, four assets in Memphis, and three assets in Jackson. The closings occurred in different phases throughout the first quarter of 2012 and generated total net proceeds to Parkway of approximately $88.1 million. The sold properties total 1.5 million square feet and were a combined 79.5% occupied as of January 1, 2012.

The three remaining assets that were part of the Non-Core Portfolio sale that have not yet closed are The Pinnacle at Jackson Place, Parking at Jackson Place, and 111 Capitol Building, all located in Jackson. The Pinnacle and Parking at Jackson Place are expected to close during the second quarter of 2012, subject to the buyer's successful assumption of the existing mortgage loan and customary closing conditions. The contract to sell 111 Capitol Building has expired without a sale.

Click here to receive FREE breaking news email alerts for Parkway Properties and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame. India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday. Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months. Eurozone inflation slowed as expected in August on falling energy prices giving room for the central bank to support demand and economic recovery without stoking inflation and help the region to create more jobs. The unemployment rate remained unchanged at an elevated level in July. Nonetheless, it was at the lowest since September 2012.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.