HIW - Highwoods Properties makes non-core sales worth $56M

Highwoods Properties (NYSE:HIW) has sold 4421 and 4401 Waterfront Drive, two non-core office buildings encompassing 97,000 square feet in Richmond, for $20.8M. Additionally, has sold Progress Center, which consists of two in-service non-core office buildings encompassing 147,000 square feet and an associated development parcel in Raleigh, for $35M. Company has also closed on the previously announced plan to sell three non-core buildings for a combined purchase price of $65.9M. During Q4 2021, company expects to record total gains of ~$92.9M, including non-FFO gains of ~$83.5M and FFO gains of ~$9.4M.

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Highwoods Properties makes non-core sales worth $56M