Parkway Properties Shells Out $86M For Fla. Office Buildings

Law360, Miami (January 7, 2014, 7:35 PM EST) -- Parkway Properties Inc. has paid $52.5 million to buy Orlando, Fla.'s Bank of America Center, where the real estate investment trust is headquartered, and $33.3 million for the JTB Center office complex in Jacksonville, Fla., the company said Monday.

Parkway picked up a 70 percent interest in the BofA Center previously owned by its co-investor, Parkway Properties Office Fund II LP, to give it complete ownership of the 421,000-square-foot office building in Orlando's central business district.

With the JTB Center, Parkway adds to its portfolio of...
To view the full article, register now.