Highwoods Properties (HIW) Obtains $200M Secured Loan

Highwoods Properties, Inc. (NYSE: HIW) announces it has obtained a $200 million, 5-year secured loan provided by a life insurance company at a fixed rate of 5.69% secured by Bank of America Tower at Legacy Union in Uptown Charlotte.

Ted Klinck, President and CEO of Highwoods, stated “We are very pleased with this loan execution, which will further fortify our already healthy balance sheet, enhance our liquidity and position Highwoods to take advantage of future growth opportunities.”

The proceeds have been used to reduce amounts outstanding on the Company’s revolving credit facility and for general corporate purposes.

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