The sale of a fully-leased core asset at a ~6.7% cap rate is a modest positive for balance sheet flexibility but reduces recurring NOI. Monitor for reinvestment plans or debt reduction use of proceeds; no immediate catalyst for stock movement.
Price Chart
Executive Summary
Highwoods Properties sold Bridgestone Tower in Nashville for $255 million, a 513,000 sq ft office tower that is 100% leased and projected to generate ~$17 million in annual NOI. The sale will result in a non-FFO gain of ~$75 million in Q2 2026, representing a strategic disposition of a core asset at a favorable price.
Key Financial Metrics
Key Facts
- Sold Bridgestone Tower (513,000 sq ft) in Nashville for $255 million
- Property is 100% leased with projected annual NOI of ~$17 million
- Expects to record non-FFO gain of ~$75 million in Q2 2026
- Sale price implies a ~6.7% cap rate on projected NOI
Financial Impact
$255 million sale price with $75 million non-FFO gain
Risk Factors
- Loss of recurring NOI from a 100% leased asset
- Potential capital gains tax implications despite non-FFO treatment
- Uncertainty on reinvestment of proceeds
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3293560 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 16d ago | Press Release | $30.70 $29.69 | ▼ −3.29% | ▼ −5.11% | $29.65 (−3.42%) |
Sep 14, 2026 18d ago | Press Release | $30.66 $31.08 | ▲ +1.37% | ▲ +1.26% | $29.65 (−3.29%) |
Jul 28, 2026 9w ago | Press Release | $34.40 $32.42 | ▼ −5.76% | ▼ −11.28% | $29.65 (−13.81%) |
May 12, 2026 20w ago | Press Release | $26.04 $25.18 | ▼ −3.30% | ▼ −2.14% | $29.65 (+13.86%) |
Mar 27, 2026 26w ago | DEFA14A | $20.90 $21.56 | ▲ +3.16% | ▼ −1.14% | $29.65 (+41.87%) |
Mar 24, 2026 27w ago | Press Release | $21.12 $21.42 | ▲ +1.42% | ▲ +1.66% | $29.65 (+40.39%) |
US Market Status
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