Highwoods Announces $40.2M Of Non-Core Asset Sales
Portfolio Pulse from Happy Mohamed
Highwoods Properties (NYSE:HIW) has sold two non-core assets, One Independence Park in Tampa for $19.5 million and Riverbirch in Raleigh for $20.7 million. The proceeds will be used to reduce outstanding debt and for general corporate purposes.
May 31, 2023 | 8:21 pm
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Highwoods Properties sold two non-core assets for $40.2M, which will be used to reduce outstanding debt and for general corporate purposes.
The sale of these non-core assets will help Highwoods Properties reduce its outstanding debt and improve its balance sheet. This will enhance the company's liquidity and position it for future growth opportunities. As a result, the stock price is likely to go up in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100