- As part of the deal, Parkway Properties (NYSE:PKY) acquired CalSTRS' 60% interest in San Jacinto Center and One Congress Plaza, and now has 100% ownership of these properties. Sold to CalSTRS was Parkway's 40% interest in Frost Bank Tower, 300 West 6th Street, and One American Center. Net proceeds of about $43.6M flowed to Parkway from CalSTRS in the transaction.
- Prior to the ending of the JV, Parkway had pro rata ownership of 967K square feet, but now has 926K.
- Source: Press Release