Parkway 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
Check below for free stories on PKY the last two weeks.