Highwoods Takes Full Ownership Of 5 Orlando Office Towers

Law360, New York (July 23, 2013, 3:09 PM EDT) -- Highwoods Properties Inc. now has a 100 percent stake in five Orlando office buildings it acquired in a joint venture with German real estate investment trust Kapital-Consult after purchasing Kapital-Consult's majority interest in the venture for $113 million, Highwoods said Tuesday.

North Carolina-based Highwoods acquired Kapital-Consult's 60 percent interest in HIW-KC Orlando LLC, whose portfolio of five buildings encompasses 1.3 million square feet in Orlando's central business district. Highwoods will also assume Kapital-Consult's share of planned building improvements, which brings Highwoods' total incremental investment to $117.5...
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