He is a member of the International Council of Shopping Centers, the National Fire Protection Association, and the Building Owners and Managers Association. And, on top of that, it has a top-20 tenant that is moving out (accounting for 0.84% of rents in 2022) that will reduce occupancy. So, if you are a contrarian looking to find opportunities in the out-of-favor office REIT arena, this Sun Belt landlord might be worth a deep dive. She is a director and member of the Audit Committee of James Hardie Industries, plc (NYSE:THX), a world leader in manufaturing film cement siding and backboard. Seed, Series A, Private Equity), Whether an Organization is for profit or non-profit, General contact email for the organization. Previously, he was a partner with DLA Piper US LLP and Alston & Bird LLP. Jeff joined Highwoods in 2007. Choosing a selection results in a full page refresh. Highwoods Publishes 2020 Corporate Responsibility Report Highwoods Properties, Inc. is a publicly traded real estate investment trust engaged in owning, managing, developing, and acquiring Class A office properties. They acquired more office and industrial properties throughout the southeastern United States. Highwoods Properties, headquartered in Raleigh, North Carolina, is a publicly traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. Randy is responsible for development across all of the companys divisions. Previously, Mr. Anderson spent 27 years at Bank of America as President of Bank of America South Carolina and head of its Carolinas Business Banking group. Rising interest rates and recession fears have joined to batter commercial real estate investors since the pandemic came calling, and perhaps none more than real estate investment trusts (REITs) that concentrate on office properties. Down 41%, Should You Buy This Beaten-Down Growth Stock? We are extremely fortunate to have Brendan become our new CFO. Source: FactSet, Markets Diary: Data on U.S. Overview page represent trading in all U.S. markets and updates until 8 p.m. See Closing Diaries table for 4 p.m. closing data. The Company is a fully-integrated REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Kansas. Prior to joining Highwoods, Mr. Maiorana spent 11 years in equity research at Wells Fargo Securities, starting as an associate equity research analyst. Brendan Maiorana, 45, who currently serves as Executive Vice President of Finance and Treasurer, will assume the role of CFO upon Mr. Mulherns retirement. But, even at the low end of 2023 guidance, the FFO payout ratio will only rise to around 55% or so. His strong strategic thinking and people leadership skills will always be held in the highest regard here at Highwoods. Mr. Hunt joined Highwoods in 1997 and quickly transitioned his focus to technology. Overview. Highwoods Properties reported funds from operations (FFO), which is like earnings for a REIT, of $4.03 in 2022, up from $3.86 in 2021. RALEIGH, N.C., Jan. 06, 2022 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) and Brand Properties, LLC have formed a joint venture to (a 4.31% increase). The value of the non-core assets represents less than 12% of the anticipated total investment. Previous to Highwoods, Brian served as president of Crescent Communities commercial and mixed-use business unit since 2014 where he directed the companys office, industrial and retail developments and property management across the country. Sources: FactSet, Tullett Prebon, Commodities & Futures: Futures prices are delayed at least 10 minutes as per exchange requirements. Highwoods Properties sells Greensboro Highwoods It operates what it calls "collaborative campuses" in just a few markets, such as San Francisco, Boston, Raleigh-Durham's Research Triangle, and the D.C. suburbs. While working at Highwoods, Mr. Hunt earned his BS in Management Information Systems from NC State University. 150 Fayetteville Raleigh (CBD)150 Fayetteville is a 29-story, Class A officer tower encompassing 560,000 square feet in CBD Raleigh. This 300,000 square foot building, which has a wide array of office and amenity retail customers, was 98% leased at December 31, 2020 with a current weighted average lease term of 8.3 years. An LLC addressed to Duy Khuong Ong was the buyer. representing a decrease of -1.75% So the company is going to shrink its business this year, not grow it. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. Presentation A presentation highlighting the planned acquisition and planned acceleration of non-core dispositions can be accessed through the link below and in the Investors section of the Companys website at www.highwoods.com. WebThe average home insurance policy in Florida is $6,000 annually, almost four times the national average. 150 Fayetteville Street Suite 1400 Raleigh North Carolina 27601 United States. Board of Directors | Highwoods Reuben Gregg Brewer has no position in any of the stocks mentioned. A copy of the report can be accessed by clicking on the link below and on the Companys website at www.highwoods.com. While a lease is already signed for that space, it won't be filled until 2024. VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. BENSON INVESTMENT MANAGEMENT COMPANY, INC. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND. Ted joined Highwoods in March 2012, became President and Chief Executive Officer in 2018. RALEIGH, N.C., May 31, 2023 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has sold One Independence Park, a 116,000 square foot office building in Tampas Westshore BBD, for $19.5 million. Highwoods Properties Announces CFO Succession Plan Highwoods Properties, Inc. Raleigh, NC 27601, If you have an existing account, please opt to reset your password before logging in. David J. Hartzell has been a director since 2009. Both facilities bear interest at LIBOR plus 90 basis points. Highwoods Properties, Inc. is a real estate investment trust (REIT). Highwoods We're now beginning to see headlines about developers and owners of office space in some major markets considering handing over the keys to lenders. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. He is a trustee of Ravenscroft School and a member of the Wake Forest School of Law Board of Visitors. Seminole Towne Center mall owner delinquent taxes Orlando BS, Architecture and MS, City Planning, Georgia Tech. With skyrocketing premiums, Florida's property insurance is in crisis. He also currently serves on the boards of National Association of Clean Water Association (NACWA), the National Forum of Black Public Administrators (NGBPA) and the DC Utility Infrastructure Advisory Council. Highwoods Properties is a Sun Belt office landlord. WebThe company owns a total of about 27.4 million sq. May 10, 2021 07:00 ET Prior to that, he worked four years at Ernst & Young LLP. Ted has 26 years of extensive real estate experience, and prior to joining Goddard Investment, he spent 16 years with Morgan Stanley Real Estate, including its predecessor companies Lend Lease and Equitable Real Estate. That's while the S&P 500 itself is up about 18%. Just go in knowing that 2023 will not be a good year. Overview. He is a former president of the American Real Estate and Urban Economics Association. WebHighwoods Properties, Inc. (HIW) is owned by institutional investors, mutual funds, and individual investors. Highwoods Properties, Inc. (HIW) DCF Excel Template, Your email address will not be published. Highwoods Properties, Inc. is a real estate investment trust (REIT) that operates mainly in the eastern part of the United States. Highwoods Properties If PAC chooses not to sell Armour Yards to a third party, Highwoods will close on the acquisition of the creative office project no later than the first quarter of 2022. Highwoods Announces $40.2M of Non-Core Asset Sales. RALEIGH, N.C., May 31, 2023 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has sold One Independence Park, a 116,000 square foot office building in Tampas Westshore BBD, for $19.5 million. Sources: FactSet, Dow Jones, Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. up 0.45% compared to the previous quarter. Highwoods (NYSE: HIW) sold the property at 5000 Falls of Neuse Road for $11 million, according to Wake County deed records. As of Mar 31 2023, Highwoods Properties's largest institutional buyer is FRANKLIN RESOURCES INC. Highwoods Properties (HIW) has 103.16M shares outstanding as of 31 Mar 23, There are some very notable drivers here that investors are worried about. As part of the transaction, PAC will separately market Armour Yards for sale to a third party. Mike is responsible for the companys overall asset management. The bridge facility, which is subject to definitive documentation and customary conditions, can be extended at the Companys option for an additional six-month period and will contain financial and other covenants that are similar to the covenants under the Companys revolving credit facility. The chart above shows how Alexandria and Highwoods share prices have performed in the past five years. Highwoods Properties, Inc. The company started with a portfolio of just three properties, all located in Raleigh, NC. Raleigh, NC 27601, RALEIGH, N.C., April 19, 2021 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has agreed to acquire a portfolio of office assets from Preferred Apartment Communities, Inc. (NYSE:APTS) (PAC). The Motley Fool has a disclosure policy. With this acquisition, the Company will own nearly 1.5 million square feet of Class A office buildings concentrated within four city blocks in CBD Raleigh, one of the citys Best Business Districts (BBDs). WebHighwoods Properties Leases 60,800 Square Feet at Highwoods Preserve to MetLife; 100% of the Preserve is Leased or Sold to Owner Occupants 11/01/2005 Highwoods Properties Announces the Addition of Sherry Kellett, CPA, to its Board of Directors Why You Should Retain Highwoods Properties (HIW) Stock for Now City, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond, Tampa and the Triad. Highwoods Properties is owned by institutional shareholders (95.90%), insiders (1.60%), and public (2.50%). The last insider buy of HIW was made by Klinck Theodore J on Mar 24 2023, Executive Vice President of Finance and Treasurer. HIW | Highwoods Properties Inc. Company Profile & Executives Randy is a LEED Accredited Professional. Our plan is to effectively match-fund our purchase of these trophy assets in the high-growth markets of Charlotte and Raleigh by selling a select portfolio of non-core assets. Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. Highwoods Properties's largest mutual fund holder by % of total assets is "JNL/Heitman US Focused Real Estate Fund", Tickergate does not provide financial advices and does not issue recommendations or offers to buy stocks of sell any securities. He is Chair of the Board and the Executive Committee, and a member of the Compensation and Governance Committee.Mr. ET(800) 756-3565 or www.highwoods.com_________________________________________. Highwoods Properties The Motley Fool has no position in any of the stocks mentioned. April 19, 2021 06:00 ET Data are provided 'as is' for informational purposes only and are not intended for trading purposes. Further, there is long-term upside from potential synergies with our existing portfolio and an attractive redevelopment parcel in Atlanta. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. WebAs a 35-year real estate veteran, Mike has extensive leadership experience in property management, asset management, leasing, acquisitions, dispositions, risk management, Highwoods Properties Ownership | Who Owns Highwoods RALEIGH, N.C., Jan. 06, 2022 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) and Brand Properties, LLC have formed a joint venture to The Company is a fully integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa. Invest better with The Motley Fool. WebHighwoods Properties, headquartered in Raleigh, North Carolina, is a publicly traded (NYSE:HIW) real estate investment trust ("REIT") and a member of the S&P MidCap 400 ET, Highwoods will host a conference call to discuss the matters highlighted in this press release. For US/Canada callers, dial (800) 756-3565. For more information about Highwoods Properties, please visit our website at www.highwoods.com. Highwoods Properties, Inc. Ted joined Highwoods in March 2012, became President and Chief Executive Officer in 2018. As of Mar 31 2023, Highwoods Properties's biggest institutional seller is BROOKFIELD CORP /ON/.