Parkway sells 49 pct of Greenway Plaza and Phoenix Tower

Parkway Inc said Feb. 17 that it has sold a 49 percent stake in Greenway Plaza and Phoenix Tower for $512 million. TH Real Estate and Silverpeak is buying a 24.5 percent stake in Greenway, while CPPIB will have 24.5 percent. Parkway is expected to receive $315.8 million in net proceeds. The Greenway portfolio is a nearly 5 million square foot campus consisting of 11 office properties in Houston.

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