DENVER-In its biggest deal ever, Denver-based Miller Global Properties Inc. has entered into a $412-million joint venture with Highwoods Properties Inc., a large North Carolina-based REIT.

The venture will borrow $276 million from GE Capital Real Estate to finance the deal, which gives Miller Global 80% interest. The team expects to spend $62 million to develop properties in Atlanta and Orlando and Tampa, FL but will equally share ownership in this segment of the operation. Highwoods’ portfolio includes office buildings in those three cities plus Raleigh, NC, all of which will continue to be leased and managed by the REIT.

The initial transaction calls for Highwoods to sell 21 offices buildings and four development sites in Georgia, Florida and North Carolina to the new venture. In exchange, it will get cash and a 20% stake in the venture.

Myron “Micky” Miller heads up Miller Global, a privately held company being run by his son Jim Miller. The elder Miller is the former partner of billionaire Marvin Davis on his real estate ventures.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.