Parkway Properties to redeem all 8% preferreds, sell common stock

By Tali David

Minneapolis, March 19 - Parkway Properties, Inc. plans to use the proceeds of a common stock offering to redeem all of its outstanding 8% series D cumulative redeemable preferred stock, according to a notice.

The company will also use proceeds to fund potential acquisition opportunities, to repay amounts outstanding from time to time under its senior unsecured revolving credit facility and/or for general corporate purposes.

Parkway Properties is a real estate investment trust specializing in the ownership of office properties. It is based in Orlando.

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