HOUSTON, Aug. 30, 2017 /PRNewswire/ -- Parkway, Inc.
(NYSE: PKY) announced today that its properties incurred only
minimal damage as a result of Hurricane Harvey. The
properties maintained power throughout the storm and remained
accessible to our customers as needed at all times. We
expect that all damage will be insurable under our existing
insurance policies subject to a nominal deductible. All of
Parkway's buildings are open for business and operational as of
today.
"We are grateful and happy to report that all of our employees
are safe and secure, though a few did experience flooding at their
homes," stated James R. Heistand,
President and Chief Executive Officer of Parkway. "Our hearts
go out to those who suffered loss as a result of this storm, and we
will do everything we can to support the city of Houston as it recovers. Under the
leadership of Mike Fransen, our
Senior Vice President and Managing Director, our employees
performed extremely well under very difficult circumstances, and I
am thankful for their dedication and support. Our properties
experienced minimal damage, and all buildings are open for our
customers."
About Parkway
Parkway, Inc. is an independent, publicly traded, self-managed
real estate investment trust ("REIT") that owns and operates
high-quality office properties located in attractive submarkets in
Houston, Texas. As of June 30, 2017, our portfolio consists of five
Class A assets comprising 19 buildings and totaling approximately
8.7 million rentable square feet in the Greenway, Galleria and
Westchase submarkets of Houston.
Forward Looking Statements
Certain statements contained in this press release, including
those that express a belief, expectation or intention, as well as
those that are not statements of historical fact, are
forward-looking statements within the meaning of the federal
securities laws and as such are based upon Parkway's current
beliefs as to the outcome and timing of future events. There can be
no assurance that actual future developments affecting Parkway will
be those anticipated by Parkway. Parkway cautions investors that
any forward-looking statements presented in this press release are
based on management's beliefs and assumptions made by, and
information currently available to, management. When used, the
words "anticipate," "assume," "believe," "estimate," "expect,"
"forecast," "guidance," "intend," "may," "might," "plan,"
"potential," "should," "will," "result" or similar expressions that
do not relate solely to historical matters are intended to identify
forward-looking statements. You can also identify forward-looking
statements by discussions of strategy, plans or intentions.
Forward-looking statements involve risks and uncertainties (some of
which are beyond Parkway's control) and are subject to change based
upon various factors, including but not limited to the following
risks and uncertainties: the ability of Parkway to obtain required
stockholder approval required to consummate its proposed merger
with an affiliate of Canada Pension Plan Investment Board (the
"merger") pursuant to the merger agreement (the "merger
agreement"); the satisfaction or waiver of other conditions in the
merger agreement; the outcome of any legal proceedings that may be
instituted against Parkway and others related to the merger
agreement; the risk that the merger, or the other transactions
contemplated by the merger agreement may not be completed in the
time frame expected by the parties or at all; the ability of
Parkway to implement its operating strategy; changes in economic
cycles; and competition within the office properties real estate
industry; and other risks and uncertainties detailed from time to
time in Parkway's Securities and Exchange Commission ("SEC")
filings.
Should one or more of these risks or uncertainties occur, or
should underlying assumptions prove incorrect, Parkway's business,
financial condition, liquidity, cash flows and results could differ
materially from those expressed in any forward-looking statement.
While forward-looking statements reflect Parkway's good faith
beliefs, they are not guarantees of future performance. Any
forward-looking statement speaks only as of the date on which it is
made. New risks and uncertainties arise over time, and it is not
possible for us to predict the occurrence of those matters or the
manner in which they may affect us. Except as required by law,
Parkway undertakes no obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying
assumptions or factors, of new information, data or methods, future
events or other changes.
Additional Information about the Proposed Transaction and
Where to Find It
In connection with the proposed transactions contemplated by the
merger agreement, Parkway has filed with the SEC, and mailed or
otherwise disseminated to Parkway's stockholders, a definitive
proxy statement. Parkway may file other relevant documents
with the SEC regarding the proposed transactions.
INVESTORS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND
OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IF AND WHEN THEY BECOME
AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. You
may obtain a free copy of the proxy statement (if and when it
becomes available) and other relevant documents filed by Parkway
with the SEC at the SEC's website at www.sec.gov. Copies of the
documents filed by Parkway will be available free of charge on its
website at www.pky.com or by directing a request by mail to
Parkway, Inc., One Orlando Centre, 800 North Magnolia Avenue, Suite
1625, Orlando, Florida 32803,
Attention: Investor Relations.
Parkway and its directors and executive officers may be deemed
to be participants in the solicitation of proxies in respect of the
proposed merger transaction. You can find information about
Parkway's directors and executive officers in Parkway's definitive
proxy statement filed with the SEC on April 5, 2017 in
connection with its 2017 annual meeting of stockholders. Additional
information regarding the interests of such potential participants
will be included in the proxy statement and other relevant
documents filed with the SEC if and when they become available. You
may obtain free copies of these documents from Parkway using the
sources indicated above.
This document shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
Contact:
Thomas Blalock
Vice President, Finance & Capital Markets
(407) 581-2915
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SOURCE Parkway, Inc.
