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Stock Market & Financial Investment News

News Breaks
January 27, 2014
08:34 EDTPKYParkway Properties completes acquisition of additional interest in Austin JV
Parkway Properties announced that it has completed its acquisition of its co-investor's approximately 17% interest in a joint venture that owns a portfolio of five office properties in Austin, Texas for a purchase price of approximately $41.5M. After giving effect to this acquisition, each of Parkway and CalSTRS has a 50% interest in the CalSTRS JV and Austin properties. Pursuant to an agreement entered into between Parkway and CalSTRS, CalSTRS has until February 5 to exercise an option to purchase up to 60% of Madison's former interest on the same terms as Parkway. If CalSTRS exercises its option to purchase a portion of Madison's former interest, Parkway's interest in the CalSTRS JV and the Austin properties will be reduce to 40%, with CalSTRS owning the remaining 60%.
News For PKY From The Last 14 Days
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October 7, 2014
16:07 EDTPKYParkway Properties announces agreement to sell portfolio of buildings for $237M
Parkway Properties announced that it has reached an agreement to sell a portfolio of 19 office buildings for a gross sale price of $237.0M. Parkway recently agreed to purchase the 19 office assets, which are located in six states and total approximately 2.1M square feet, as part of the same transaction pursuant to which Parkway has agreed to acquire Corporate Center I, II, and III at International Plaza located in the Westshore submarket of Tampa, Florida. The 19 office assets that Parkway has agreed to sell are not consistent with Parkway's current investment strategy. As part of the agreement, the prospective buyer posted a $10.0M earnest money deposit. Parkway expects the closing of the sale of the 19 office portfolio to occur during Q4.

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