PARKWAY, INC. (NYSE:PKY) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD
release announcing that the Company, through Parkway Operating
Partnership LP, its operating partnership, and certain other
subsidiaries, has entered into an Omnibus Contribution and
Partial Interest Assignment Agreement with CPPIB US RE-A, Inc.,
an affiliate of the Canada Pension Plan Investment Board, and
Permian Investor LP, an entity controlled by TH Real Estate and
Silverpeak Real Estate Partners, to form a new joint venture with
respect to the Companys Greenway Plaza and Phoenix Tower
properties. A copy of the press release is furnished as Exhibit
99.1 to this Current Report on Form 8-K.
Form 8-K with respect to this agreement will be filed in a
separate Current Report on Form 8-K.
this Item 7.01 (including Exhibit 99.1) shall not be deemed filed
for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the Exchange Act), or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated
by reference into any filing made by the Company under the
Exchange Act or Securities Act of 1933, as amended, except as
shall be expressly set forth by specific reference in such
filing.
those that express a belief, expectation or intention, as well as
those that are not statements of historical fact, are
forward-looking statements within the meaning of the federal
securities laws and as such are based upon the Companys current
beliefs as to the outcome and timing of future events. There can
be no assurance that actual future developments affecting the
Company will be those anticipated by the Company. Examples of
forward-looking statements include projected capital resources,
projected profitability and portfolio performance, estimates of
market rental rates, projected capital improvements, expected
sources of financing, expectations as to the timing of closing of
acquisitions, dispositions, or other transactions, the expected
operating performance of anticipated near-term acquisitions and
descriptions relating to these expectations, including without
limitation, the anticipated net operating income yield. The
Company cautions investors that any forward-looking statements
presented in this presentation are based on managements beliefs
and assumptions made by, and information currently available to,
management. When used, the words anticipate, assume, believe,
estimate, expect, forecast, guidance, intend, may, might,
outlook, project, should or similar expressions that do not
relate solely to historical matters are intended to identify
forward-looking statements. You can also identify forward-looking
statements by discussions of strategy, plans or intentions.
Forward-looking statements involve risks and uncertainties (some
of which are beyond the Companys control) and are subject to
change based upon various factors, including but not limited to
the following risks and uncertainties: the Companys lack of
operating history as an independent company; conditions
associated with the Companys primary market, including an
oversupply of office space, customer financial difficulties and
general economic conditions; that certain of the Companys
properties represent a significant portion of the Companys
revenues and costs; that the spin-off from Cousins Properties
Incorporated (Cousins) will not qualify for tax-free treatment;
the Companys ability to meet mortgage debt obligations on certain
of the Companys properties; the availability of refinancing
current debt obligations; potential co-investments with
third-parties; changes in any credit rating the Company may
obtain; changes in the real estate industry and in performance of
the financial markets and interest rates and the Companys ability
to effectively hedge against interest rate changes; the actual or
perceived impact of global and economic conditions; declines in
commodity prices, which may negatively impact the Houston, Texas
market; the concentration of the Companys customers in the energy
sector; the demand for and market acceptance of the Companys
properties for rental purposes; the Companys ability to enter
into new leases or renewal leases on favorable terms; the
potential for termination of existing leases to customer
termination rights; the amount, growth and relative inelasticity
of the Companys expenses; risks associated with the ownership and
development of real property; termination of property management
contracts; the bankruptcy or insolvency of companies for which
the Company provides property management services or the sale of
these properties; the outcome of claims and litigation involving
or affecting the Company; the ability to satisfy conditions
necessary to close pending transactions and the ability to
successfully integrate the assets and related operations acquired
in such transactions after closing; applicable regulatory
changes; risks associated with acquisitions, including the
integration of the portion of the combined business of Parkway
Properties, Inc. (Legacy Parkway) and Cousins relating to the
fee-based real estate business; risks associated with the fact
that the Companys historical and predecessors financial
information may not be a reliable indicator of the Companys
future results; risks associated with achieving expected
synergies or cost savings; risks associated with the potential
volatility of the Companys common stock; and other risks and
uncertainties detailed from time to time in the Companys
Securities and Exchange Commission filings.
should underlying assumptions prove incorrect, the Companys
business, financial condition, liquidity, cash flows and results
could differ materially from those expressed in any
forward-looking statement. While forward-looking statements
reflect the Companys good faith beliefs, they are not guarantees
of future performance. Any forward-looking statement speaks only
as of the date on which it is made. New risks and uncertainties
arise overtime, and it is not possible for us to predict the
occurrence of those matters or the manner in which they may
affect us. The Company disclaims any obligation to publicly
update or revise any forward-looking statement to reflect changes
in underlying assumptions or factors, of new information, data or
methods, future events or other changes. Accordingly, investors
should use caution in relying on past forward-looking statements,
which were based on results and trends at the time they were
made, to anticipate future results or trends.
Exhibit No.
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Description
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99.1
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Press Release, dated February 17, 2017
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About PARKWAY, INC. (NYSE:PKY)
Parkway, Inc. is a real estate investment trust (REIT). The Company has a portfolio of approximately five Class A office assets totaling over 8.7 million rentable square feet in the Galleria, Greenway and Westchase submarkets of Houston, Texas. The Company offers fee-based real estate services through its subsidiaries, which in total manages or leases approximately 2.7 million square feet primarily for third-party owners. The Company holds, directly and through its ownership of Parkway Properties General Partners, Inc. (Parkway GP), approximately 98% common partnership interest in the Parkway Operating Partnership LP (the Operating Partnership). The Company, through its Operating Partnership, owns substantially all of its assets and conducts substantially all of its operations. The Company’s assets include Greenway Plaza, Post Oak Central, CityWestPlace, Phoenix Tower and San Felipe Plaza. PARKWAY, INC. (NYSE:PKY) Recent Trading Information
PARKWAY, INC. (NYSE:PKY) closed its last trading session up +0.10 at 21.58 with 392,704 shares trading hands.