Parkway Properties, a member of the New York Stock Exchange, specializes in the operation, leasing, acquisition, and ownership of quality office properties. We have been a steward of capital in the public arena since 1971 and have been solely dedicated to the office industry since the mid‐1990's. Parkway team members apply an uncompromising focus on operations, the cornerstone of our business strategy, to create a solid dividend and long-term returns to our shareholders and investment partners.

 

 

Investment Strategy

Geographically, the Company seeks to invest in top tier metropolitan statistical areas, which represent high population and job growth areas in core markets located in the Southeastern and Southwestern United States. Our customer base is comprised of approximately 1,400 customers from diverse industry sectors.

Allocating Capital

The methodology for allocating capital speaks to our long‐standing approach to this very important matter. Capital allocation is reviewed by our board, investment team, and senior officer group based on many factors, including the overall capital markets, our weighted average cost of capital, our buying criteria, the real estate market and the risk associated with the return. We examine all aspects of each type of investment opportunity whether it is the purchase of a fund asset, a value‐add initiative, or a fee simple asset. Each opportunity has a current yield and a leveraged and unleveraged rate of return that can be measured on a relative and absolute basis. Each carries a relationship to replacement cost which is still an important underwriting discipline for us.