Profile: Highwoods Properties Inc (HIW.N)
9 Jul 2014
Highwoods Properties, Inc., incorporated in 1994, is a self-administered and self-managed equity real estate investment trust (REIT). The Company is engaged in the business of operation, acquisition and development of rental real estate properties. It operates office, industrial, retail and residential properties. The Company provides a line of real estate services to its customers. The Company owns and operates office properties in the Southeastern and Midwestern United States. The Company conducts all of its activities through Highwoods Realty Limited Partnership (the Operating Partnership). Its properties and development land are located in Florida, Georgia, Maryland, Mississippi, Missouri, North Carolina, South Carolina, Tennessee and Virginia. On September 28, 2011, the Company sold a non-core, 80% leased office property in Winston-Salem and an adjacent, three-acre undeveloped site. In March 2012, the Company sold a 96-unit, vacant apartment building located in Country Club Plaza. In April 2012, it has sold Feather Sound II. In July 2012, it sold five non-core office properties encompassing approximately 484,000 square feet in the airport submarket of Nashville. In July 2012, it acquired three medical office properties in Greensboro. The Company has completed the acquisition of Church Street Medical Two and Three in Greensboro. In August 2012, the Company announced that it sold One Ward Parkway, a three-storey, 62,000 square foot building in Kansas City, Missouri. In September 2012, the Company acquired Two Alliance Center. In January 2013, the Company acquired two Class A office properties. In January 2013, it sold Metrowest Commerce Center and Cambridge in Orlando. In February 2013, the Company acquired Colonial Place I and II, two 10-story Class A office properties encompassing 372,000 square feet with structured parking located in the heart of the Westshore submarket of Tampa. . Effective July 23, 2013, Highwoods Properties Inc acquired the remaining 60% interest, which it did not already own, in HIW-KC Orlando LLC from its joint venture partner, Kapital-Consult. In August 2013, Highwoods Properties, Inc. acquired its joint venture partner's 57% interest in Glenlake North and South Towers.
As of December 31, 2011, the Company wholly owned 303 in-service office, industrial and retail properties, including approximately 29.3 million rentable square feet, one 228,000 square foot office property and an associated retail property under development, which are a combined 89% pre-leased, 96 rental residential units and 17 for-sale residential condominiums; owned an interest (50% or less) in 35 in-service office properties, encompassing approximately 5.3 million rentable square feet, one 215-unit rental residential property under development and 11 acres of development land, including a 12.5% interest in a 261,000 square foot office property; wholly owned 586 acres of undeveloped land, approximately 524 acres of which are considered core holdings, and which are suitable to develop approximately 5.7 million and 2.7 million rentable square feet of office and industrial space, and wholly owned one completed office properties encompassing 117,000 square feet. The Company’s portfolio consists of office properties in Raleigh, Tampa, Nashville, Memphis, Pittsburgh, Richmond and Orlando, office and industrial properties in Atlanta and Greensboro and retail and office properties in Kansas City.
Highwoods Properties Inc
3100 Smoketree Court, Suite 600
RALEIGH NC 27604