Highwoods Properties, Inc. announces a series of investment activities that will enhance its Best Business District office focus.

Ed Fritsch, President and CEO, stated, “The acquisitions of Monarch Centre in Buckhead and SunTrust Financial Centre in CBD Tampa strengthen our franchise of owning high-quality, trophy office buildings in our markets’ BBDs. These transactions provide substantial NOI upside through lease-up, rent growth, Highwoodtizing and operating efficiencies.  Our plan is to effectively fund these acquisitions by selling Country Club Plaza at a cap rate meaningfully lower than the stabilized returns on our newly-acquired assets.  With this sale, we will return our leverage ratio to the low end of our 40% to 45% comfort zone, simplify our business model and garner G&A savings.”