logo
Share SHARE
FONT-SIZE Plus   Neg

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

Parkway Properties Inc. (PKY) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Cable-cutters have now one more reason to do so as live television streaming will be available on YouTube TV in 14 more markets in the U.S. Facebook Chief Operating Officer Sheryl Sandberg has donated nearly $100 million in Facebook shares to charity. This is her second charitable donation within a year. A document was filed on Thursday with the Security and Exchange Commission, which shows that Sandberg transferred shares to a special fund she uses for charitable donations. Ford Motor Co.'s new CEO Jim Hackett has taken a more cautious approach to the automaker's plans for rolling out autonomous vehicles. Ford is currently undertaking a 100-day review of its operations and Hackett indicated at delays to the company's plans to launch a fully-autonomous vehicle by 2021.
comments powered by Disqus
Follow RTT