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
Shares of Airbus Group SE declined around 2 percent in the early morning trading in Paris after the aerospace and defense major reported a loss in its fourth quarter, compared to a profit last year, mainly due to a hefty charge related to the A400M programme. Revenues, however, increased from last year. Further, the company lifted its dividend, and said it expects higher adjusted ea Federal Network Agency (Bundesnetzagentur) has asked parents who bought the popular My Friend Cayla doll to destroy the toy or disable its wireless connection. The Bundesnetzagentur has banned the unauthorized wireless transmitting equipment in a children's toy and has already removed the product... Saudi Arabia is reportedly considering to list its state-run oil behemoth Saudi Aramco in New York Stock Exchange. According to a WSJ report, citing people familiar with the matter, Aramco prefers to float its shares on the NYSE, or in London or Toronto after discussion to list on an Asian stock exchange...
comments powered by Disqus
Follow RTT