Funds from operations before minority interest were $64.2 million, 97 cents per diluted share compared with $61.1 million, 86 cents per diluted share, in fourth quarter 1999. For the year, FFO increased 7.5% on a per-share basis, with a total $251.4 million, $3.71 per diluted share, compared to $244.2 million, $3.45 per diluted share, in 1999.
Fourth-quarter revenues were $141.2 million, down from $144.3 in fourth quarter 1999. Revenues for the year totaled $566.4 million, down from $584.9 million in 1999.
Highwoods has 26 projects totaling 2.9 million sf in its development pipeline. Sixty percent are pre-leased or committed. As of Dec. 31, 2000, those projects have a budgeted cost of $336.2 million, with $152.2 million already funded. Highwoods is hearquartered in Raleigh, about 200 miles east of Charlotte.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
