Parkway Announces Closing Of Eight Office Buildings In Prime Submarket Of Jacksonville, Florida
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%.
(Logo: http://photos.prnewswire.com/prnh/20030513/PARKLOGO )
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%.
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