Parkway Properties Commences Public Offering; Announces Property Acquisitions

(RTTNews) - Parkway Properties, Inc. (PKY) announced an agreement to acquire three Class A office properties located in the Westshore submarket of Tampa, Florida. Corporate Center I, II, and III at International Plaza, which are adjacent to Parkway's Corporate Center IV at International Plaza. As part of the same deal, Parkway agreed to purchase 19 additional office properties located in six states totaling approximately 2.1 million square feet. Gross purchase price for the entire portfolio is $475.0 million.

The company also announced that it has commenced an underwritten public offering of 10 million shares of common stock. The company intends to use the net proceeds to fund a portion of the purchase price of a portfolio of 22 office properties located in six states.