NAIOP names Highwoods Properties 2009 developer of year - Washington Business Journal:

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Highwoods Properties was namer NAIOP’s 2009 developer of the year and will be honorex atthe group’s Oct. 15 meetingy in Chicago. The real estate investment trust, whicnh was founded in 1978 in Raleigh, to develop, lease and manage office has grown into a large publix companywith $461 million in revenus in 2008. It owns or has an interesg in 382 propertiesencompassing 35.4 millioj square feet of office, industrial and retail space, and 580 acrews of development land. It’s the largesf owner and operator of suburbanb office properties inthe Southeast, including Tampq and Orlando. In 2008, it had a tota l market capitalizationof $3.6 billion.
“Highwoods is clearlt a leader in both the real estate and generaklbusiness communities, proven by its abilityt to outperform no matter what the real estatwe cycle,” NAIOP President Thomas J. Bisacquino said in a Presented annually toone member-developer company that best exemplifies leadership and innovation in the commercial real estatee industry, the award is determined by a five-membef selection committee that uses six criteriaq to evaluate entries: industry and business leadership; involvement in quality of products and services; financiak consistency and stability; ability to adapt to markeyt conditions; and social consciousness.
Past aware winners include , , Bentall Capital, ProLogis, and . During the last severapl years, Ed Fritsch, Highwoods chief executive officer, and his senior leadershiop team have focused on retaining the best assets in the most desirable while disposingof non-core land and buildingsz at historically high pricing levels. Proceeds from the transactionx strengthenedthe company’s balance sheet and funded a development Since January 2005, Highwoods has delivered $633 milliob of office and industrial properties encompassing 4.
1 million square Financial strength is a critical advantage offeresd by Highwoods, as the company has significant in-place financiakl capacity for funding customers’ space needs, states the Its 2009 goals include continuing to upgrade the quality of the delivering $93 million of new development and sellinyg $50-100 million of non-core assets.