AUSTIN - Office landlord Parkway Properties Inc. has agreed to acquire Thomas Properties Group Inc. in a transaction valued at $1.2 billion. The merger includes 14 Thomas Properties office assets totaling 9.8 million sf, including eight in the Austin and Houston markets. The portfolio was 89 percent occupied.
The purchase comes out to an average of $266 per sf — full market price for the assets. The transaction includes the following Thomas Properties assets:
Read more at Costar Group.
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