HIW Highwoods Properties Inc.

Highwoods Sells $127.5M of Greensboro and Memphis Assets

Highwoods Sells $127.5M of Greensboro and Memphis Assets

RALEIGH, N.C., Nov. 09, 2020 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has sold non-core properties in Greensboro and Memphis for combined gross proceeds of $127.5 million. The sold properties include 7023 Albert Pick Road, a 49,500 square foot property, a three-building office portfolio in Greensboro that comprises 292,400 square feet, and a medical office building portfolio in Greensboro and Memphis that comprises 284,700 square feet. These properties were a combined 91.3% occupied upon closing and were projected to generate approximately $8.8 million of annual cash and GAAP net operating income in 2020.

The Company expects to record non-FFO gains of approximately $52.4 million in the fourth quarter of 2020 in connection with these sales.  

About Highwoods

Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (“REIT”) and a member of the S&P MidCap 400 Index.  Highwoods is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.  For more information about Highwoods, please visit our website at .

Contact:Brendan Maiorana
 Executive Vice President, Finance
 919-431-1529

EN
09/11/2020

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April 23, 2024 1 EN
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Highwoods Declares Quarterly Dividends

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April 17, 2024 1 EN
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Highwoods Announces Recent Disposition Activity

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April 4, 2024 1 EN
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Highwoods to Release First Quarter 2024 Results Tuesday, April 23rd   ...

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April 2, 2024 1 EN
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Highwoods Provides Leasing Update

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March 1, 2024 1 EN

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