CHARLOTTE, NC-Parkway Properties Inc. in Orlando has reached a contract to purchase the Hearst Tower for $250 million from Bank of America Corp. The purchase will initially be financed using the cash received from TPG, which has decided to make an equity investment amounting $200 million in Parkway.
BofA will lease 322,000 square feet from Parkway as part of the deal and its lease will run through March 2022. For the full story, go to Charlotte Business Journal .
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