The purchase of Hearst Tower was financed with the cash received from TPG combined with borrowings on the Company's credit facility. While the property is currently unencumbered, the Company expects to obtain financing on the property to provide capital for future investment opportunities. Non-Core Asset Sales The Pinnacle at Jackson Place and Parking at Jackson Place are both located in the central business district of Jackson and total 271,000 square feet. Parkway sold the two assets for a combined purchase price of $29.5 million, and the buyer assumed the $29.5 million non-recourse mortgage loan secured by The Pinnacle at closing. About Parkway Properties Parkway Properties, Inc., a member of the S&P Small Cap 600 Index, is a self-administered real estate investment trust specializing in the ownership of quality office properties in higher growth submarkets in the Sunbelt region of the United States.