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Stock Market & Financial Investment News

News Breaks
March 19, 2013
07:06 EDTPKYParkway Properties agrees to purchase Tampa Fund II assets and Tempe office
Parkway Properties announced that it has entered into a purchase and sale agreement to acquire its co-investor's 70% interest in three office properties located in the Westshore submarket of Tampa, Florida and has entered into a purchase and sale agreement to acquire a 75% interest in the US Airways Building, a 225,000 square foot office building located in the Tempe submarket of Phoenix, Arizona. The agreed-upon gross valuation of the Tampa Fund II Assets is $139.3M. Parkway's purchase price for its co-investor's 70% interest in the Tampa Fund II Assets is $97.5M. The agreed-upon gross valuation of the US Airways Building is $56M. Parkway's purchase price for the approximate 75% interest is $41.8M.
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