RALEIGH, N.C., Sept. 16, 2018 (GLOBE NEWSWIRE) — Highwoods Properties, Inc. (NYSE:HIW) reports after having conducted a thorough assessment that none of its assets have sustained any damage. This assessment is inclusive of the Company’s underway development projects. All building utilities are operational and minor clean-up is near completion.
Ed Fritsch, President and CEO stated, “While we are pleased to report our portfolio and all HIW personnel are unscathed by Hurricane Florence, we are saddened by the loss of lives and homes down east. Our thoughts and prayers are with all those who have been hit hard by this storm and who will undoubtedly need help from our greater community. I am extremely appreciative for the terrific work our team did preparing for this storm and grateful to have fared so well.”
About Highwoods
Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (“REIT”) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa. For more information about Highwoods, please visit our website at www.highwoods.com.
Certain matters discussed in this press release are forward-looking statements within the meaning of the federal securities laws, such as the expected cost, timing and impact of Highwoods development activity. These statements are distinguished by use of the words “will,” “plan,” “anticipate,” “expect,” “intend” and words of similar meaning. Although Highwoods believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
Factors that could cause actual results to differ materially from Highwoods current expectations include, among others, the following: development activity by competitors in existing markets could result in excessive supply of properties relative to customer demand; development, acquisition, reinvestment, disposition or joint venture projects may not be completed as quickly or on as favorable terms as anticipated; Highwoods may not be able to lease or re-lease second generation space quickly or on as favorable terms as old leases; Highwoods markets may suffer declines in economic growth; Highwoods may not be able to lease newly constructed buildings as quickly or on as favorable terms as originally anticipated; unanticipated increases in interest rates could increase debt service costs; unanticipated increases in operating expenses could negatively impact Highwoods net operating income; Highwoods may not be able to meet its liquidity requirements or obtain capital on favorable terms to fund its working capital needs and growth initiatives or to repay or refinance outstanding debt upon maturity; Highwoods could lose key executive officers; and others detailed in Highwoods 2017 Annual Report on Form 10-K and subsequent SEC reports.
| Contact: | Brendan Maiorana |
| Senior Vice President, Finance and Investor Relations | |
| 919-431-1529 |