-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AUfY1mgvN86frVTgjtgJPe1YJIGkcqdtxPRwt0alka383zTMcmASlaRZFxtJjY96 vbizPXzfXWgxxCw4byed9w== 0000729237-98-000006.txt : 19980304 0000729237-98-000006.hdr.sgml : 19980304 ACCESSION NUMBER: 0000729237-98-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980223 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980302 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: PARKWAY PROPERTIES INC CENTRAL INDEX KEY: 0000729237 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF NONRESIDENTIAL BUILDINGS [6512] IRS NUMBER: 742123597 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-11533 FILM NUMBER: 98554095 BUSINESS ADDRESS: STREET 1: ONE JACKSON PL STREET 2: 188 E CAPITOL ST STE 1000 CITY: JACKSON STATE: MS ZIP: 39225-4647 BUSINESS PHONE: 6019484091 MAIL ADDRESS: STREET 1: P O BOX 22728 STREET 2: P O BOX 22728 CITY: JACKSON STATE: MS ZIP: 39201 FORMER COMPANY: FORMER CONFORMED NAME: PARKWAY CO DATE OF NAME CHANGE: 19951018 8-K 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ---------------------------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date earliest event reported): February 25,1998 ------------------ PARKWAY PROPERTIES, INC. - ------------------------------------------------------------------ (Exact name of Registrant as specified in its charter) Maryland 1-11533 74-2123597 - ------------------------------------------------------------------ (State or other (Commission File Number) (IRS Employer jurisdiction of Identification incorporation) Number) One Jackson Place Suite 1000 188 East Capitol Street P. O. Box 24647 Jackson, Mississippi 39225-4647 - ------------------------------------------------------------------ Registrant's telephone number, including area code: (601) 948-4091 -------------- - ------------------------------------------------------------------ (Former name or former address, if changed since last report) FORM 8-K PARKWAY PROPERTIES, INC. Item 2. Acquisition or Disposition of Assets. On February 25, 1998, Parkway Portfolio I LLC, a limited liability corporation of which the sole member and Manager is Parkway Properties LP, a limited partnership in which Parkway Properties, Inc. is a 99% limited partner and a wholly-owned subsidiary is a 1% general partner, purchased a 13 building Southeastern office portfolio ("Southeastern Office Portfolio") comprising a total of approximately 1,470,000 net rentable square feet from Brookdale Investors, L.P., an Atlanta based real estate investment firm for $163,014,000 in cash. The total purchase price, including closing costs, anticipated capital expenditures and leasing commissions, is expected to be approximately $165,714,000. The Company funded the purchase with short-term bank borrowings of $85,000,000 from a consortium of banks led by Deposit Guaranty National Bank and $75,000,000 from NationsBank, NA. The interest rate on both loans is LIBOR plus 140 basis points, which equates to a rate of 7.025% today. In addition, two parcels of land were purchased for $1,575,000 in non-interest bearing notes receivables. Item 7. Financial Statements and Exhibits. (a) Financial Statements The audited financial statement of the Southeastern Office Portfolio for the year ended December 31, 1996 is incorporated by reference to the Registrant's Form 8-K dated and filed on February 18, 1998. Also incorporated is the unaudited financial statement for the nine months ended September 30, 1997. (b) Pro Forma Consolidated Financial Statements The pro forma consolidated financial statements required are incorporated by reference to the Registrant's Form 8-K dated and filed on February 18, 1998. (c) Exhibits (10) The Sale Agreement and Amendments between Brookdale Investors, L.P., a Delaware limited partnership, and Parkway Properties LP, a Delaware limited partnership is incorporated by reference to the Registrant's Form 8- K dated and filed February 18, 1998. Parkway agrees to furnish supplementally to the Securities and Exchange Commission on request a copy of any omitted schedule or exhibit to this agreement. FORM 8-K PARKWAY PROPERTIES, INC. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DATE: February 27, 1998 PARKWAY PROPERTIES, INC. BY: /s/Sarah P. Clark Sarah P. Clark Senior Vice President, Chief Financial Officer, Treasurer and Secretary -----END PRIVACY-ENHANCED MESSAGE-----