Profile: Highwoods Properties, Inc. (HIW)

Highwoods Properties, Inc., incorporated in 1994, is a fully integrated, self-administered, and self-managed equity real estate investment trust (REIT). It is engaged in the business of acquisition, development, and operation of rental real estate properties. The Company operates office, industrial, retail, and residential properties. The Company is an owner and operator of suburban office, industrial, and retail properties in the southeastern and midwestern United States. The Company conducts virtually all of its activities through the Highwoods Realty Limited Partnership (Operating Partnership). The Company is the sole general partner of the Operating Partnership. During the year ended December 31, 2008, it owned or had an interest in 383 in-service office, industrial, and retail properties, encompassing approximately 35.3 million square feet and 514 rental residential units. In 2008, the Company acquired an aggregate of 8.3 acres of land in the Atlanta metropolitan area and 135,000 square foot office building in Memphis, TN.

In 2008, the Company wholly owned 311 in-service office, industrial, and retail properties, encompassing approximately 27.4 million rentable square feet and 96 rental residential units; owned an interest (50.0% or less) in 72 in-service office and industrial properties, encompassing approximately 8.0 million rentable square feet, and 418 rental residential units; wholly owned 580 acres of undeveloped land, approximately 490 acres of which are considered core holdings, and which are suitable to develop approximately 7.6 million rentable square feet of office and industrial space; and were developing eight wholly owned properties comprising approximately 1.2 million square feet that were under construction, and owned an interest in 74 for-sale residential condominiums (through a consolidated majority owned joint venture). The Company is based in Raleigh, North Carolina, and its properties and development land are located in Florida, Georgia, Iowa, Kansas, Maryland, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, and Virginia.