RALEIGH, N.C., May  12, 2026  (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has sold Bridgestone Tower, a 513,000 square foot office tower in CBD Nashville, for $255 million. This property is 100% leased and

Highwoods Sells Bridgestone Tower in CBD Nashville

HIW Realizes Significant Asset Sale with Projected $75M Gain

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>RALEIGH, N.C., May  12, 2026  (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has sold Bridgestone Tower, a 513,000 square foot office tower in CBD Nashville, for $255 million. This property is 100% leased and</p>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Highwoods Properties, Inc. has sold the fully-leased Bridgestone Tower for $255 million, anticipating a substantial non-FFO gain of approximately $75 million in Q2 2026. This sale marks a strategic move to optimize their asset portfolio amidst prevailing market conditions.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>HIW sold Bridgestone Tower in Nashville for $255 million.</li><li>The tower is fully leased, generating $17 million annually.</li><li>A non-FFO gain of $75 million is expected in Q2 2026.</li><li>HIW operates primarily in top business districts across the Southeast.</li><li>Market conditions could affect future performance and valuations.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Highwoods Properties, Inc. (HIW)</strong>: The company is benefiting from strategic asset sales.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news falls under &#039;Corporate Developments&#039; as it involves a significant asset transaction. The sale aligns with HIW&#039;s strategy to streamline operations and optimize asset valuations, which is crucial for maintaining investor confidence and financial health.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>The $75 million non-FFO gain could positively affect HIW&#039;s stock price.</li><li>The successful sale of a fully-leased asset enhances HIW&#039;s liquidity.</li><li>Investor sentiment may improve due to effective asset management strategies.</li><li>Potential impacts from market conditions affecting future asset valuations.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Bridgestone Tower sold for $255 million.</li><li>The asset is generating $17 million annual income in 2026.</li><li>HIW expects a $75 million non-FFO gain in Q2 2026.</li><li>The property covers 513,000 square feet.</li><li>HIW operates in major Southeast markets including Nashville and Atlanta.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>HIW is positioned for short-term gains following the asset sale announcement.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="justify">RALEIGH, N.C., May  12, 2026  (GLOBE NEWSWIRE) -- <strong>Highwoods</strong> <strong>Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HIW">HIW</a>)</strong> has sold Bridgestone Tower, a 513,000 square foot office tower in CBD Nashville, for $255 million. This property is 100% leased and is projected to generate approximately $17 million of annual cash and GAAP net operating income in 2026.</p>  <p align="justify">The Company expects to record a non-FFO gain of approximately $75 million in the second quarter of 2026 in connection with this sale.</p>  <p><strong>About Highwoods</strong></p>  <p align="justify">Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HIW">HIW</a>), fully-integrated office real estate investment trust ("REIT") that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa. Our vision is to be a leader in the evolution of commercial real estate for the benefit of our customers, our communities and those who invest with us. Our mission is to create environments and experiences that inspire our teammates and our customers to achieve more together. We are in the work-placemaking business and believe that by creating exceptional environments and experiences, we can deliver greater value to our customers, their teammates and, in turn, our shareholders. For more information about Highwoods, please visit our website at <a href="https://www.globenewswire.com/Tracker?data=WtsLZOppgMwvtUlrlvTfYYNmVG8kFj3aQpu9vt2HDu6zl5ekpGZckwVBLRyZ0ySFsCEMR_mO3Cj_aJCthrOZrlxQL9jZRSJNxj5nkhqxJDc=" rel="nofollow" target="_blank">www.highwoods.com.</a></p>  <p><strong>Forward-Looking Statements</strong></p>  <p align="justify">Some of the information in this press release may contain forward-looking statements. Such statements include, in particular, statements about the common stock repurchase program and our plans, strategies and prospects such as the following: the expected financial and operational results and the related assumptions underlying our expected results; the planned sales of non-core assets and expected pricing and impact with respect to such sales, including the tax impact of such sales; the anticipated total investment, projected leasing activity, estimated replacement cost and expected net operating income of acquired properties and properties to be developed; and expected future leverage of the Company. You can identify forward-looking statements by our use of forward-looking terminology such as "may," "will," "expect," "anticipate," "estimate," "continue" or other similar words. Although we believe that our plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, we cannot assure you that our plans, intentions or expectations will be achieved.</p>  <p align="justify">Factors that could cause our actual results to differ materially from Highwoods' current expectations include, among others, the following: the financial condition of our customers could deteriorate; our assumptions regarding potential losses related to customer financial difficulties could prove incorrect; counterparties under our debt instruments, particularly our revolving credit facility, may attempt to avoid their obligations thereunder, which, if successful, would reduce our available liquidity; we may not be able to lease or re-lease second generation space, defined as previously occupied space that becomes available for lease, quickly or on as favorable terms as old leases; we may not be able to lease newly constructed buildings as quickly or on as favorable terms as originally anticipated; we may not be able to complete development, acquisition, reinvestment, disposition or joint venture projects as quickly or on as favorable terms as anticipated; development activity in our existing markets could result in an excessive supply relative to customer demand; our markets may suffer declines in economic and/or office employment growth; increases in interest rates could increase our debt service costs; increases in operating expenses could negatively impact our operating results; natural disasters and climate change could have an adverse impact on our cash flow and operating results; we may not be able to meet our liquidity requirements or obtain capital on favorable terms to fund our working capital needs and growth initiatives or repay or refinance outstanding debt upon maturity; and the Company could lose key executive officers.</p>  <p align="justify">This list of risks and uncertainties, however, is not intended to be exhaustive. You should also review the other cautionary statements we make in "Risk Factors" set forth in our 2025 Annual Report on Form 10-K. Given these uncertainties, you should not place undue reliance on forward-looking statements. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements to reflect any future events or circumstances or to reflect the occurrence of unanticipated events.</p> <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td style="max-width:8%; width:8%; min-width:8%;;text-align: left ;  vertical-align: middle; vertical-align: top ; "><strong>Contact:</strong></td><td style="max-width:2%; width:2%; min-width:2%;;text-align: left ;  vertical-align: middle; vertical-align: top ; "> </td><td style="max-width:90%; width:90%; min-width:90%;;text-align: left ;  vertical-align: middle; vertical-align: top ; ">Brendan Maiorana<br></br>Executive Vice President and Chief Financial Officer<br></br>brendan.maiorana@highwoods.com<br></br>919-872-4924</td></tr><tr><td style="text-align: left ;  vertical-align: middle; vertical-align: top ; "> </td><td style="text-align: left ;  vertical-align: middle; vertical-align: top ; "> </td><td style="text-align: left ;  vertical-align: middle; vertical-align: top ; "> </td></tr></table> <p align="justify"><br></br></p>  <p align="justify">        </p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTcxODk5MyM3NTk5Nzc5IzIwMDg0MDc="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/MDA2ZjliMjItYWI3OS00NjRjLWFhMWEtYmE5N2RkNmRmYWYxLTEwMTk5ODAtMjAyNi0wNS0xMi1lbg==/tiny/Highwoods-Properties-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/f95a88f6-4179-4f43-8bc5-2bec9bd68393"><img src="https://ml.globenewswire.com/media/f95a88f6-4179-4f43-8bc5-2bec9bd68393/small/tm-colortrees-solid-black-no-properties-png.png" border="0" width="150" height="25" alt="Primary Logo"></img></a></p>

Highwoods Properties, Inc. has sold the fully-leased Bridgestone Tower for $255 million, anticipating a substantial non-FFO gain of approximately $75 million in Q2 2026. This sale marks a strategic move to optimize their asset portfolio amidst prevailing market conditions.

Highwoods Sells Bridgestone Tower in CBD Nashville

AI Summary

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Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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