HIW · 10-Q · 2026Q1 · Full report

Acquisitions and Dispositions

HIGHWOODS PROPERTIES, INC. · 2026-04-28 · Importance 59 · Surprise 60

During Q1 2026 the Company acquired Bloc83, a two-building, 492,000 square foot mixed-use asset in CBD Raleigh via a joint venture with the North Carolina Investment Authority (NCIA), in which Highwoods initially owns a 10.0% interest with an option to increase to 50.0%. The Bloc83 joint venture has an anticipated total investment of $210.5 million, which includes planned near-term building improvements and transaction costs, and was funded with $21.0 million of common equity from Highwoods and $189.5 million from NCIA. The NCIA has the contractual right to sell its interest to Highwoods under certain circumstances for fair market value any time after the fifth anniversary of formation. The acquisition and its $210.5 million total investment are material to the Company's investment activity and balance sheet for 2026.

Key facts

• Property acquisitions in Raleigh, Charlotte and Dallas increased rental and other revenues by $16.3 million in the first quarter of 2026.
• Property acquisitions in Raleigh, Charlotte and Dallas increased operating expenses by $4.8 million in the first quarter of 2026.

Impact estimates