ORLANDO, Fla., March 7, 2013 /PRNewswire/ -- Parkway Properties, Inc. (NYSE:PKY) announced today that it has completed the previously announced purchase of eight office properties totaling 1.0 million square feet located in the Deerwood submarket of Jacksonville, Florida for a purchase price of $130 million. The properties were developed in phases from 1996 through 2005 and are currently a combined 93.7% occupied. Parkway placed secured financing on the properties simultaneous with closing totaling $84.5 million that has a maturity date of April 1, 2023 and a fixed interest rate of 3.9%.
Other Financing Activity
On February 21, 2013, Parkway closed on an $80 million first mortgage secured by Phoenix Tower in Houston, Texas. Phoenix Tower is a 626,000 square foot office tower located in the Greenway Plaza submarket of Houston that was 83.6% occupied as of January 1, 2013. The mortgage has a maturity date of March 1, 2023 and a fixed interest rate of 3.9%.