HIW's $223M Bet on 6Hundred at Legacy Union: Time to Buy the Stock?

Impact · against what's priced in

Highwoods Properties is expanding its Charlotte footprint with a $223 million acquisition of the 6Hundred at Legacy Union tower. The move is potentially accretive due to in-place rents being 20% below market and a targeted stabilized NOI of $17.5-$18.5 million, while remaining leverage-neutral.

HIW+0.50: No priced-in read yet
In context: The acquisition of a 411,000-square-foot Class AA tower with rents 20% below market rates provides a clear path to rental growth and a projected stabilized annual NOI of $17.5-$18.5 million.
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HIW's $223M Bet on 6Hundred at Legacy Union: Time to Buy the Stock?

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HIW's $223M Bet on 6Hundred at Legacy Union: Time to Buy the Stock?

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What matters in this story

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