Balance Sheet

 
  • No additional debt maturities for 2008 and $21.8 million in debt maturities for 2009.
  • As of May 2, 2008, $238.4 million owed related to $311.0 million line of credit.
  • The Company is in compliance with all debt covenants.
  • Debt to market capitalization at March 31, 2008, of 59.3% and 57.2% at May 2, 2008.
  • Total debt of $1.1 billion at a weighted average rate of 5.6% per annum and weighted average remaining term of 6.2 years. 
  • Parkway, on behalf of the Fund, placed three non-recourse first mortgages totaling $142.2 million and with a weighted average interest rate of 5.7% for the acquisitions of Gateway Center, Desert Ridge Corporate Center, and Citicorp Plaza.
  • $118 million or 10.6% of total unhedged debt at March 31, 2008, with a weighted average interest rate of 4.15%.
  • On May 2, 2008, the Company closed on a $60 million recourse mortgage on Capital City Plaza at a rate of LIBOR plus 165 basis points.