NYSE:HIWOffice REITs
Highwoods Properties (HIW) Valuation: Gauging Fresh Upside After Legacy Union Parking Garage Acquisition in Charlotte
If you are watching Highwoods Properties (HIW) stock after the company’s $111.5 million acquisition of the Legacy Union Parking Garage in Uptown Charlotte, you are not alone. The deal has instantly added a new source of revenue closely linked to Highwoods’ extensive office portfolio in the area. Management is presenting the purchase as a strategic win for connectivity and, more importantly, as a way to secure and boost cash flows because of the garage’s ties with long-term office...