Hertz Investment Group Completes Acquisition of 14 Premier Commercial Real Estate Assets from Parkway Properties

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These are best-in-class structures at the core of very vital regional business centers across the South and represent an important expansion of the company's commercial real estate footprint in the United States.

We have succeeded in commercial real estate by making strategic acquisitions at the right time in the market, aggressively marketing our properties to top-tier tenants, and then maintaining the very highest standards of quality in every area of operation.

Hertz Investment Group confirmed today it has completed the acquisition of 14 premier commercial buildings from Parkway Properties of Orlando, Florida. The 14 properties, which included 13 commercial office buildings and one parking structure, total 1.7 million square feet and are located in Jackson, Mississippi; Memphis, Tennessee; and Richmond, Virginia. Hertz Investment Group expects to close on the on the purchase of two additional assets from Parkway Properties by the end of April 2012.

Said Judah Hertz, CEO of Hertz Investment Group, “We have succeeded in commercial real estate by making strategic acquisitions at the right time in the market, aggressively marketing our properties to top-tier tenants and then maintaining the very highest standards of quality in every area of operation. The premier buildings we have now acquired from Parkway Properties more than meet all these criteria. They are best-in-class structures at the core of very vital regional business centers across the South and represent an important expansion of our commercial real estate footprint in the United States.”

The completion of all the transactions will raise the square footage of the properties owned and managed by the Hertz Investment Group to more than 12 million square feet and will expand the company’s geographic presence from 11 U.S. cities in 8 states to 13 cities in ten states.

Hertz Investment Group has acquired these properties from Parkway Properties:

JACKSON, MISSISSIPPI
One Jackson Place
River Oaks Place
UBS Building

MEMPHIS TENNESSEE
Falls Building
Forum I
Forum II
Forum III
Toyota Center
Toyota Center Garage

RICHMOND VIRGINIA
Boulders Centers
Moorefield I
Moorefield II
Moorefield III
Winchester Building

About The Hertz Investment Group

The Hertz Investment Group specializes in the acquisition, marketing and management of exceptional real estate properties with a special emphasis on downtown revitalization. The company, which is privately held, currently owns and manages 38 major urban properties, representing nearly 12 million square feet of office space in the central business districts of 13 U.S. cities across ten states.

Since its founding by Judah Hertz in 1979, the Hertz Investment Group has successfully acquired and managed a diverse collection of more than 100 premier properties throughout the United States, including prominent high-rise office buildings; international market centers for fashion and jewelry; historically significant landmark properties; luxury hotels; high profile theaters and society clubs; large retail centers; and multi-family residential properties.

For more information, visit us at http://www.hertzgroup.com on the Web.

Press contact:
Susan Iida
310-584-8000
susan(at)hertzgroup(dot)com

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SUSAN IIDA
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