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JACKSON, Miss., Aug. 18 /PRNewswire-FirstCall/ — Parkway Properties, Inc. today announced the closing of the fee simple sale of the Wachovia Plaza office property, located in the CBD of St. Petersburg, Florida, and the assignment of the leasehold interest in 240 parking spaces in the adjacent Mid-Core Garage owned by the City of St. Petersburg. Wachovia Plaza is a 186,000 square foot property that was 97.8% occupied as of August 1, 2008. The gross sales price was $26.0 million and represents a capitalization rate of approximately 6.8% on twelve months projected cash net operating income from the date of closing. Parkway received net cash proceeds from the sale of approximately $25.0 million, which were used to reduce amounts outstanding under the Company’s line of credit. The Company will recognize a gain on the sale of approximately $9.3 million in the third quarter of 2008.
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Parkway Properties, Inc., a member of the S&P Small Cap 600 Index, is a self-administered real estate investment trust specializing in the operation, leasing, acquisition, and ownership of office properties. The Company is geographically focused on the Southeastern and Southwestern United States and Chicago. Parkway owns or has an interest in 67 office properties located in 11 states with an aggregate of approximately 13.8 million square feet of leasable space as of August 18, 2008. Included in the portfolio are 21 properties totaling 3.8 million square feet that are owned jointly with other investors, representing 27.9% of the portfolio. Under the Company’s GEAR UP Plan, which started January 1, 2006 and ends December 31, 2008, it is the Company’s goal to transform its strategy from being an owner-operator to being an operator-owner. The strategy highlights the Company’s strength in providing excellent service in the operation of office properties in addition to its direct ownership of real estate assets. Fee-based real estate services are offered through the Company’s wholly-owned subsidiary, Parkway Realty Services, which also manages and/or leases approximately 1.8 million square feet for third party owners as of August 18, 2008.
Parkway Properties, Inc.’s press releases and additional information about the Company are available on the World Wide Web at .
Contact: Steven G. Rogers
President & Chief Executive Officer
J. Mitchell Collins
Chief Financial Officer
(601) 948-4091

Parkway Properties, Inc.

KISSIMMEE, Fla., June 16 /PRNewswire/ — The newest resort property in Central Florida promises to become one of the premier tennis destinations in the world. Heritage Key () offers upscale accommodations and will feature world-class tennis, with 20 hard and clay courts, a state-of-the-art Racquet Club & Spa, and unique tennis and lifestyle programming designed by tennis champion Peter Fleming.
Heritage Key is the home of Peter Fleming’s Power Tennis, providing competitive and recreational play and an impressive array of peak performance, health and fitness resources. tennis legend Peter Fleming (who partnered John McEnroe to four Wimbledon and three US Open titles) has combined his vast tennis expertise with years of study in the fields of movement, health/nutrition and peak performance for a one-of-a-kind experience for players of all ages and abilities.
Peter Fleming’s Power tennis will be the unofficial home of top-class competitive tennis, with a steady stream of professional, college, and amateur events-giving resort guests the opportunity to compete as well as watch and mix with up-and-coming tour pros. Also, seminars on the mental side of tennis and health, nutrition and fitness will be offered.
“Heritage Key will have all the resources to make your stay first-class and your tennis experience unforgettable,” says Fleming. “At Power tennis our goal is simple: to provide all players, no matter what their ambitions or ability level, with a positive life experience through tennis.”
The Spanish Revival architecture of the tennis Villas, designed by the world-renowned resort architectural firm Fugleberg Koch, creates a tranquil and serene atmosphere. The state-of-the-art tennis complex and spa is slated to open by summer 2009. The completed resort will offer more than 600 villas, all approved for short-term rentals.
Heritage Key owners and guests also can enjoy all that the spectacular Central Florida location offers. The resort is minutes from Orlando International Airport and Disney World, and near the Florida Turnpike.
For more information and details on “Peter Fleming Invites You to a Complimentary Three-Night Stay in Orlando” (three-bedroom villa, additional nights at $95/each, based on availability), contact , 888-850-2494 (toll free) or 407-846-4614, or visit
Heritage Key

FREDERICKSBURG, Va., April 28 /PRNewswire-USNewswire/ — Hazel Land Companies, Inc. and their Hazel Homes division has announced the Official Grand Opening of Hopyard Hall, the unprecedented Clubhouse in their new Hopyard Farm community in King George County, VA, that takes the concept of residential recreation amenities to a new level. Hopyard Farm is a country club style community along the Rappahannock River, just a few miles outside of Fredericksburg, and with its new Clubhouse — combined with its riverfront location and overall land plan — is unlike anything else in metro Washington, DC’s southern suburbs. On Saturday, May 17th, the community will hold a Grand Opening celebration and Homebuying Open House to kick off an energetic summer for Hopyard residents and interested home shoppers.The new Hopyard Hall Clubhouse epitomizes the resort-quality design plan of the Hopyard Farm community. Moreover, its debut at such an early stage of the community’s development speaks to the emphasis on health, wellness and resident involvement that Hazel Land is placing on this community.Hopyard Hall is a 10,000 square foot facility — very large in comparison to typical clubhouses or recreation centers in master-planned communities in the National Capital area. Set on the Rappahannock River shoreline in the center of the Hopyard Farm community, Hopyard Hall includes a fitness center, swimming pools, a tennis court, a playground, a media room and a business center. Nature trails wind through the community, encircle the clubhouse and lead to a nature overlook on the river’s edge. A community boat ramp also gives residents a convenient put-in spot for afternoons on the scenic Rappahannock.”Hopyard Farm is unlike any other community in the area, and it was imperative that the recreation facility here be a real showpiece. Hopyard Hall will definitely become the heart of the community.” said Stephen Norair, CEO of Hazel Land Companies. “We also wanted to open Hopyard Hall as soon as possible so that even the first residents at Hopyard Farm could enjoy it. Often, community recreation facilities are the last elements of a community that developers build, but we didn’t want our homebuyers to have to wait to fully enjoy the Hopyard Farm lifestyle,” Norair explained.The Hopyard Farm Homebuying Open House and Clubhouse Grand Opening on Saturday, May 17th will include refreshments, door prizes and community tours. Hopyard Farm is designed to protect and enhance the Rappahannock River and the surrounding environment. When complete, Hopyard Farm will include approximately 900 new executive and estate style single-family homes. Home prices start in the upper $200s.Founded in 1971, family-owned Hazel Land Companies has developed award-winning communities in Northern Virginia for buyers from all walks of life, from singles and couples just starting out, to growing families and 55-and-over Active Adults. Working in concert with homebuilding subsidiary Hazel Homes, the developer has created renowned communities in the most sought-after locations, from Hopyard Farm in King George County to Lee’s Hill in Fredericksburg, and Fair Lakes and Burke Centre in Fairfax County. Today, more than 15,000 families in the National Capital area call Hazel communities their homes.For more information about Hopyard Farm and the Grand Opening of the community’s resort-style clubhouse and recreation center, Hopyard Hall, interested homebuyers and their Realtors should phone 540-775-8411, or visit online at HYPERLINK “”. Hazel Land Companies, Inc.

MIAMI, April 25 /PRNewswire/ — Group Metro, the acclaimed real estate leader in the Dominican Republic, is pleased to announce their latest, exciting project, Costa Blanca by Metro. The residential golf & beach community will span across 270 acres of lush property including almost 3 miles of coastline overlooking the Caribbean Sea, which also includes a half mile of gorgeous beach front in the blue lagoon bay of the project. Adorning the property will be an 18-hole signature Greg Norman Signature Golf Course, international tennis center, beach club, 52 Founder’s Club villas, state-of-the-art condominium towers, a luxurious full-scale marina for over 100 yachts, and private golf club house featuring the Hole 19 Bar, fine dining restaurant, cigar lounge, pro shop, conference center, and more. With top-of-the-line activities and lavish sporting complexes alongside magnificent residences, owners at Costa Blanca will find not only a haven and retreat from the everyday, but also an outlet for recreation and enjoyment.Costa Blanca has had immense success with the introduction of their Founder’s Club. This exclusive and select group of 52 individuals were the first to purchase packages of staggering value, including: a luxurious private villa with golf, bay or marina views, 2 condominiums, a private boat slip in the marina, and membership to the prestigious golf club. Members of The Founder’s Club will enjoy top VIP treatment in addition to their various properties and onsite amenities.Residents and guests of Costa Blanca will find their every whim catered to and any accommodation imaginable right at their fingertips. Costa Blanca will house a Greg Norman Signature Golf Course, which will be a PGA quality Golf Course in the Dominican Republic. With Mr. Norman’s signature stamp of quality and expertise, residents and guests will enjoy the luxury of having this course onsite. In addition, the marina will house 150 boats with slips up to 120 feet and the Marina is planned with a Marina Village resplendent with retail and commercial space housing restaurants, boutiques, and yachting shops.When Phase One of this billion dollar retail undertaking is complete, Costa Blanca will house multiple, opulent high rise condominium towers for residents. Residential offerings will span an assortment of styles and sizes; ensuring a perfect match for any property seeker, with all properties featuring balconies with breathtaking views of the Caribbean Sea or golf course.The Group Metro Team, the developers and visionaries of this grand-scale resort community, have over three decades of experience and expertise that they will be bringing to the project. Dr. Luis Jose Asilis, CEO of Group Metro states, “We are very pleased and excited to start construction on the 1st PGA Quality Golf Course in Juan Dolio. Costa Blanca will offer a complete luxury lifestyle only 30 minutes from Santo Domingo and the International Airport.”The Launch of Costa Blanca will commence with an invitation-only, glittering gala featuring over 1000 VIPs and special guest, Mr. Greg Norman on May 2nd, 2008 and will continue into the weekend with a special cocktail and brunch reception open only to members of The Founders Club.For information, please visit or please call their sales office at: 809-526-1200Media inquiries: Call Kia Zalewski at 305-572-9833 x306 or Group Metro

PORTOLA VALLEY Calif April 14 PRNewswire-USNewswire - Cycling enthusiasts have dubbed Race Across America RAAM the worlds toughest bike race That moniker doesnt scare the four-person team of everyday folks from Valley Presbyterian Church VPC now called Team H4 or Holy Rollers Hammering for Habitat Homes In fact Team H4 hopes the drama generated by the coast-to-coast race on June 11-20 and their own relative inexperience in the event will draw attention to a cause they believe in Peninsula Habitat for Humanity a local non-profit organization that builds affordable ownership homes for low-income families The ultra-distance riders want their endurance efforts to raise 50000 for Peninsula Habitat The plan may seem like an insurmountable challenge but then securing affordable housing seems impossible to those who need it mostWe are thrilled that Valley Presbyterian Church and the VPC bike team are supporting Peninsula Habitat in this awesome fundraising effort said Barbara Evans Director of Development at Peninsula Habitat We are grateful for all the hard work and dedication going into the race on behalf of so many deserving families in the community To make a financial gift to the cause visit the Peninsula Habitat website at and select the VPC Race Across America program from the online giving pageRAAMs 3000-mile route begins in Oceanside CA and concludes in Annapolis MD Unlike a stage race riders pedal twenty-four hours a day in a relay format that keeps one team member on the road while the others rest To prepare for this grueling competition the team has scheduled a three-day practice on May 16-18 starting from Peninsula Habitats current construction site on Lincoln Avenue in Redwood City Team H4 riders include Rafael Ornes Joel Phillips Sally Phillips and Michelle Santilhano Sally and Joel have been VPC members since 2001 Raf is the churchs Minister of Music while Michelle is a member of Menlo Park Presbyterian None is a professional cyclist While the four riders consider themselves endurance cyclists with a thirst for something new and crazy they are drawing motivation for their unparalleled training and participation not from visions of glory in the winners circle but from the ideal of more new Peninsula Habitat homes on the PeninsulaTo compete in such a constant and complex competition requires a hardy and organized support crew which currently consists of Stanford student Mary Elting and husband Matthew and VPC members Anne Hubble Cathy Paniagua Wedding Coordinator and Karen Russell Associate for Church Programs Its not every day that you have a chance to put your faith into action in such an extreme way commented VPC Pastor Mark Goodman-Morris who will also participate as part of the support crewPeninsula Habitat for Humanity is a local affiliate of Habitat for Humanity International that partners with families in need along with community volunteers and donors to build affordable homes on the Peninsula Peninsula Habitat homes allow families working in service manufacturing retail and other sectors to own decent safe permanent homes near their jobs With only 19 percent of households able to afford an entry-level home San Mateo County is one of the least affordable counties in California and scored well below the overall US affordability rate of 65 percent The median price of a first-time home is 790500 and requires a minimum qualifying income of 158100 In 18 years Peninsula Habitat has built more than 110 homes throughout San Mateo CountyFour church members on bikes leave one coast on an arduous journey to the opposite side of this enormous country The ultra marathon will test them physically and spiritually and serve as a two-wheeled vehicle for generating fundraising and awareness for Peninsula Habitat To these RAAM novices and committed missionaries nine days and thousands of miles feels like a small price to pay especially compared to the high price of housing beyond the reach of hard-working families in the communityFor more information and photos please visit the Team H4 biking website and blog at For more information about the whole race please visit the RAAM website at Source California Association of Realtors Media Contact Kelly Brieger 650-704-1748 Team H4 Coordinator Contact Karen Russell 650-851-8282 ext 104 Peninsula Habitat for Humanity Contacts Barbara Evans 650-568-7331 Jennifer Doettling Communications Director 650-568-7335 Valley Presbyterian Church

NEW YORK, April 4, 2008 /PRNewswire-FirstCall/ — iStar Financial Inc. , a leading publicly traded finance company focused on the commercial real estate industry, today announced that it will release its financial results for the first quarter of 2008 on Friday, May 2, 2008, prior to the opening of the market.The Company will host an earnings conference call reviewing these results and its operations beginning at 10:00 a.m. EDT. This conference call will be broadcast live over the Internet and can be accessed by all interested parties through iStar Financial’s website, , in the “Investor Relations” section. To listen to the live call, please go to the Company’s “Investor Relations” section of the website at least 15 minutes prior to the start of the call to register and download any necessary audio software. For those who are not able to listen to the live broadcast, a replay will be available shortly after the call on the iStar Financial website.* * *iStar Financial Inc. is a leading publicly traded finance company focused on the commercial real estate industry. The Company primarily provides custom- tailored investment capital to high-end private and corporate owners of real estate, including senior and mezzanine real estate debt, senior and mezzanine corporate capital, as well as corporate net lease financing and equity. The Company, which is taxed as a real estate investment trust (”REIT”), seeks to deliver strong dividends and superior risk-adjusted returns on equity to shareholders by providing innovative and value added financing solutions to its customers. Additional information on iStar Financial is available on the Company’s website at . iStar Financial Inc.

SANTA ANA, Calif., April 3, 2008 /PRNewswire-FirstCall/ — Grubb & Ellis Realty Investors, LLC has acquired Six Forks Station in Raleigh, N.C., on behalf of tenant-in-common investors.Located at 8601 Olde Station Drive, Six Forks Station is a 321-unit garden-style multifamily community situated on more than 32 acres. The property consists of 39 apartment buildings and a separate structure housing a clubhouse and leasing center. The unit mix consists of 88 one-, 161 two- and 72 three-bedroom apartments. The net rentable area of the property is nearly 360,000 square feet, with an average unit size of 1,120 square feet. Six Forks Station is currently 96 percent occupied.”The consistent growth of the Raleigh-Durham area, as well as the high tenancy and stable cash flow of Six Forks Station makes it an attractive opportunity for our investors,” said Grubb & Ellis Realty Investors President and Chief Investment Officer Jeff Hanson.Built in three phases between 1985 and 1997, Six Forks Station offers tenants a healthy parking supply with 656 spaces, which results in a 2.04 space per unit parking ratio.Community amenities include two swimming pools, playgrounds, multi-purpose sports courts, a fitness center and an onsite laundry facility. Individual apartment units feature fireplaces, dishwashers, garden tubs, walk-in closets, ceiling fans and patios and balconies in select units.Raleigh is home to a part of North Carolina’s Research Triangle Park, the largest research park in the world and one of the leading centers for high-technology research and development in the country. Raleigh and the Research Triangle Park area consistently rank among the nation’s best local economies.Numerous high-technology and medical corporations have been attracted to the Raleigh-Durham area due to the outstanding educational and research facilities at area universities, including North Carolina State University, home to the nation’s tenth largest school of engineering, Duke University and the University of North Carolina at Chapel Hill.According to the United States Census Bureau, the Greater Raleigh-Durham area has experienced a population growth of approximately 68 percent since 1990, and is expected to grow more than 12 percent by 2011. Unemployment remains below the national average, just four percent as of February 2008.About Grubb & Ellis Realty InvestorsGrubb & Ellis Realty Investors, LLC is the real estate investment and asset management subsidiary of Grubb & Ellis Company , a leading real estate services and investment firm. Grubb & Ellis Realty Investors and affiliates manage a growing portfolio of assets valued in excess of $5.7 billion located throughout 30 states. One of the nation’s most active buyers and sellers of commercial real estate, Grubb & Ellis Realty Investors has completed acquisition and disposition volume totaling approximately $10 billion on behalf of program investors since its founding in 1998; more than 70 percent of this volume has been transacted since Jan. 1, 2005.Grubb & Ellis Realty Investors and affiliates are currently buying and selling properties throughout the United States, offering a full range of commercial real estate investment programs, including tenant-in-common (TIC) programs for investors structuring tax-deferred (like-kind) exchanges under Section 1031 of the Internal Revenue Code, non-traded public real estate investment trusts (REITs), multi-member limited liability companies (LLCs) and institutional investments. Through the Grubb & Ellis Wealth Management program, Grubb & Ellis Realty Investors also offers high net worth investors a comprehensive program to build or expand their commercial real estate portfolio, whether their investment objectives are 1031 exchange driven or not. Grubb & Ellis Realty Investors, LLC

DALLAS, March 24 /PRNewswire/ — The Regus Group , the world’s largest provider of fully furnished and equipped offices with 950 locations in 70 countries, today announced that it has recently renovated its Alamo Corporate Center, which is located in the heart of downtown Colorado Springs on the 11th floor of 102 South Tejon Street. The 15,000 square foot Alamo Corporate Center features 53 offices, 107 workstations, and three conference rooms. The center will also soon be adding a videoconferencing studio.Renovations at the center include outfitting all of the centers’ 53 offices with new furniture and high speed data lines as well as a completely remodeled business cafe and expanded reception area. The reception area includes all new furniture, contemporary art work, decorative frosted glass, new carpeting and track lighting.”Clients selecting our newly renovated Alamo Corporate Center will have the unique opportunity to have a state-of-the-art, fully equipped office in one of the most picturesque settings in the country,” said Jennifer Gilbert, Regional Vice President for Regus. “Not only will they have offices in one of the most prestigious business addresses in downtown Colorado Springs, but they’ll also have great, unobstructed views of the scenic surrounding areas including Pikes Peak and The Cheyenne Mountain Range.”The Alamo Corporate Center is within minutes of both the court house and the Pioneers Museum. The building in which the Regus center is located comes with a number of amenities including a fitness center and a full-service bank. In addition, the center is within walking distance of numerous dining and entertainment options.Gilbert added, “Our flexible office space options make our center ideal for various sized companies, regardless of industry. So whether you’re a government contract vendor or a branch office of a large corporation or a one-person attorney, we’re confident that we have the perfect workplace solution to fit your unique requirements.”Every day Regus provides more than 200,000 clients worldwide with flexible and cost-effective workplace options to meet their specific needs. Whether using a fully furnished office, a virtual office that provides clients with a local business address, meeting rooms or videoconferencing facilities, businesses working with Regus are able to establish an immediate presence at prime business center locations such as the Alamo Corporate Center.Mark Rees is president and CEO of Cyber Dog Media, a media podcasting company, and has a full-time office in Regus’ Alamo Corporate Center.”I have to present a certain image — that includes a high sense of professionalism — to my clients and my office plays a big role in allowing me to successfully accomplish this objective,” said Rees. “My office and the amenities that come with it give me the appearance of a large, well-run company. I know that my clients will experience a wow-factor when they come to the office.”Rees added, “When I first started looking for office space over a year ago I considered several options and they either required too much of a resource commitment from me, such as installing phone lines or Internet or the rent was too high. I also looked at providers that were not nearly as professional as Regus. The Regus staff really delivered when it came to providing the space that I needed at the quoted price. With Regus I knew exactly what I was getting and there were no surprises.”Regus offers its clients: the freedom to grow, downsize, or expand their business to any geographic location with minimal disruption; simple, one-page contracts; one, fixed monthly price, that includes everything they need to run their business; state-of-the-art IT; and a global network of more than 950 locations that allows members unlimited access to Regus business lounges worldwide.About The Regus GroupThe Regus Group is the world’s leading provider of pioneering workplace solutions, with products and services ranging from fully equipped offices to professional meeting rooms, business lounges and the largest network of videoconferencing studios. The Regus Group delivers a new way to work, whether it’s from home, on the road or from an office.Clients such as Google, GlaxoSmithKline, IBM, Nokia and Accenture join thousands of growing small and medium businesses that benefit from outsourcing their office and workplace needs to The Regus Group and allowing them to focus on their core business.Over 200,000 clients a day benefit from Regus Group facilities spread across a global footprint of 950 locations in 400 cities and 70 countries, which allows individuals and companies to work wherever, however and whenever they want to.For more information, visit . The Regus Group