This excerpt taken from the HIW 8-K filed Oct 31, 2007.
$500 Million Development Pipeline 75% Pre-leased
Raleigh, NC October 30, 2007 Highwoods Properties, Inc. (NYSE: HIW), the largest owner and operator of suburban office properties in the Southeast, today reported financial and operational results for the three and nine months ended September 30, 2007.
Ed Fritsch, President and CEO, stated, Third quarter results were again strong with 90.4% total occupancy at September 30, 2007, up 110 basis points from June 30, 2007 and up 100 basis points year-over-year. We expanded our development pipeline (which now stands at a healthy $500 million that is 75% pre-leased), signed a lease to backfill our largest single 2008 lease expiration and sold $36.8 million of non-core properties at a weighted average cap rate of 6.6%.
This excerpt taken from the HIW 8-K filed Aug 2, 2007.
$464 Million Development Pipeline 66% Pre-Leased
72,000 Square Foot Lease Signed at Bay Center in Tampa 57% Pre-Leased
45,000 Square Foot Lease Signed at Berkshire in Orlando 61% Pre-Leased
Raleigh, NC August 1, 2007 Highwoods Properties, Inc. (NYSE: HIW), the largest owner and operator of suburban office properties in the Southeast, today reported results for the three and six months ended June 30, 2007.
Ed Fritsch, President and CEO, stated, Our business continues to be strong. Solid execution of our Strategic Plan is resulting in a higher quality portfolio, robust development pipeline and a healthier, more flexible balance sheet. As a result, our strong performance is delivering meaningful long-term value for our shareholders.
During the second quarter, we leased 1.6 million square feet of first and second generation space, increased same store NOI (net of term fees and straight line rent) by 2.3% from the second quarter of 2006, expanded our development pipeline by $26 million, and acquired with a joint venture partner a 167,000 office building in Orlando. Our robust, $464 million development pipeline is now 66% pre-leased and we expect to deliver an additional $69 million of development by the end of the year, added Mr. Fritsch.
RELATED TOPICS for HIW: