Benzinga | Nov 9, 2021 11:10AM EST

Highwoods Announces $134M Of Non-Core Asset Sales

Highwoods Properties, Inc. (NYSE:HIW) has sold 5405 Windward Parkway, a 248,000 square foot office building in Atlanta, for $48.0 million and 50 Glenlake, a 145,000 square foot office building also in Atlanta, for $20.6 million. Additionally, the Company expects to close on the sale of three additional non-core buildings encompassing 366,000 square feet for a combined purchase price of $65.5 million prior to December 31, 2021.

On a combined basis, these office properties are 78% occupied and were projected to generate $7.8 million of GAAP net operating income and $7.3 million of cash net operating income in 2021.