Parkway Properties, Inc. was a
real estate investment trust
A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...
that invested in office buildings in the
Sun Belt. In 2016, the company was acquired by
Cousins Properties
Cousins Properties Incorporated is a publicly traded real estate investment trust (REIT) that invests in office buildings in Atlanta, Charlotte, Austin, Phoenix, Tampa, and Chapel Hill, North Carolina. The company has developed notable prope ...
.
Notable properties owned by the company included
Liberty Place
Liberty Place is a skyscraper complex in Philadelphia. The complex is composed of a 61-story, skyscraper called One Liberty Place, a 58-story, skyscraper called Two Liberty Place, a two-story shopping mall called the Shops at Liberty Place, a ...
,
Phoenix Tower,
San Felipe Plaza
San Felipe Plaza is a 46-story tower west of the Uptown Houston district in Houston, Texas, United States. Designed by architect Richard Keating, the building was constructed in 1984 by Linbeck Construction Corporation and contains of leaseable ...
in Houston
Raymond James Tower
Raymond James Tower is a 21-story skyscraper and is the second tallest building in Memphis, Tennessee. The building is located at the corner of North Front Street and Jefferson Avenue and South Main Street. It is tall, including a spire, and ...
in Memphis, Tennessee and
The Murano
The Murano is a residential skyscraper in Center City, Philadelphia. Part of a condominium boom occurring in the city, the Murano was announced in 2005 and was developed jointly by Thomas Properties Group and P&A Associates. The building, named ...
in Philadelphia.
The company was formed on May 17, 1996.
In 2011, the company acquired the
property management
Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate. Management indicates the need for real estate to be cared for and monit ...
business of Eola Capital and its ownership stake in 6 properties for $462 million.
In 2012, the company acquired
Hearst Tower for $250 million. The company also sold 15 properties in
Memphis
Memphis most commonly refers to:
* Memphis, Egypt, a former capital of ancient Egypt
* Memphis, Tennessee, a major American city
Memphis may also refer to:
Places United States
* Memphis, Alabama
* Memphis, Florida
* Memphis, Indiana
* Memp ...
for $147.5 million.
References
{{Reflist, 1
1996 establishments in Florida
Financial services companies established in 1996
Financial services companies disestablished in 2016
Defunct real estate companies of the United States