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.