Parkway Properties
Where business works
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| Industry | Real estate investment trust |
|---|---|
| Fate | Acquired |
| Founded | May 17, 1996 |
| Headquarters | Orlando, Florida |
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Key people
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James R. Heistand, President & CEO |
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Number of employees
|
286 |
| Website | pky |
Parkway Properties, Inc. was a real estate investment trust that invested in office buildings in the Sun Belt. In 2016, the company was acquired by Cousins Properties.
Notable properties owned by the company included Liberty Place, Phoenix Tower, San Felipe Plaza and Raymond James Tower in Memphis, Tennessee.
The company was formed on May 17, 1996.
In 2011, the company acquired the property management business of Eola Capital and its ownership stake in 6 properties for $462 million.
In 2012, the company acquired Hearst Tower for $250 million. The company also sold 15 properties in Memphis, for $147.5 million.
In 2013, the company acquired Thomas Properties Group in a $1.2 billion transaction. The company also acquired Deerwood North and Deerwood South for $130 million. The company sold Carmel Crossing for $37.5 million.
In 2014, the company sold Fair Oaks Plaza and an office building in Houston leased to Schlumberger. It also sold 3 office buildings in Central Florida Research Park for $44 million. It acquired Corporate Center I, II and III in Tampa, Florida for $238 million.
In 2015, the company sold Millenia Park One for $28.2 million.
In 2016, the company was acquired by Cousins Properties, which spun off its Houston assets into a new company called Parkway, Inc.
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Wikipedia