HIGHWOODS PROPERTIES, INC., 10-Q filed on 4/28/2026
Quarterly Report
v3.26.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2026
Apr. 21, 2026
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2026  
Document Transition Report false  
Entity Registrant Name HIGHWOODS PROPERTIES, INC.  
Entity Incorporation, State or Country Code MD  
Entity File Number 001-13100  
Entity Tax Identification Number 56-1871668  
Entity Address, Address Line One 150 Fayetteville Street  
Entity Address, Address Line Two Suite 1400  
Entity Address, City or Town Raleigh  
Entity Address, State or Province NC  
Entity Address, Postal Zip Code 27601  
City Area Code 919  
Local Phone Number 872-4924  
Title of 12(b) Security Common Stock, $.01 par value, of Highwoods Properties, Inc.  
Trading Symbol HIW  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   110,272,697
Entity Central Index Key 0000921082  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Highwoods Realty Limited Partnership [Member]    
Entity Information [Line Items]    
Entity Registrant Name HIGHWOODS REALTY LIMITED PARTNERSHIP  
Entity Incorporation, State or Country Code NC  
Entity File Number 000-21731  
Entity Tax Identification Number 56-1869557  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0000941713  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.26.1
HPI - Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Real estate assets, at cost:    
Land $ 636,317 $ 609,177
Buildings and tenant improvements 6,450,630 6,144,697
Development in-process 0 6,248
Land held for development 198,256 214,149
Total real estate assets 7,285,203 6,974,271
Less-accumulated depreciation (1,955,094) (1,902,276)
Net real estate assets 5,330,109 5,071,995
Real estate and other assets, net, held for sale 0 23,201
Cash and cash equivalents 32,423 27,358
Restricted cash 20,210 15,691
Accounts receivable 29,790 28,263
Mortgages and notes receivable 12,231 12,228
Accrued straight-line rents receivable 325,636 318,024
Investments in and advances to unconsolidated affiliates 495,261 471,580
Deferred leasing costs, net of accumulated amortization of $176,466 and $169,972, respectively 289,131 244,258
Prepaid expenses and other assets, net of accumulated depreciation of $26,410 and $25,144, respectively 62,110 61,240
Total Assets 6,596,901 6,273,838
Liabilities, Noncontrolling Interests in the Operating Partnership and Equity:    
Mortgages and notes payable, net 3,703,498 3,554,178
Accounts payable, accrued expenses and other liabilities 279,360 284,006
Total Liabilities 3,982,858 3,838,184
Commitments and contingencies
Noncontrolling interests in the Operating Partnership 43,189 52,777
Equity:    
Preferred Stock, $.01 par value, 50,000,000 authorized shares; 8.625% Series A Cumulative Redeemable Preferred Shares (liquidation preference $1,000 per share), 26,691 and 28,811 shares issued and outstanding, respectively 26,631 26,691
Common Stock, $.01 par value, 200,000,000 authorized shares; 109,553,557 and 107,623,777 shares issued and outstanding, respectively 1,103 1,099
Additional paid-in capital 3,237,704 3,223,767
Distributions in excess of net income available for common stockholders (893,681) (870,083)
Accumulated other comprehensive loss (2,557) (2,494)
Total Stockholders’ Equity 2,369,200 2,378,980
Noncontrolling interests in consolidated affiliates 201,654 3,897
Total Equity/Capital 2,570,854 2,382,877
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital $ 6,596,901 $ 6,273,838
v3.26.1
HPI - Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Assets:    
Deferred leasing costs, accumulated amortization $ 176,466 $ 169,972
Prepaid expenses and other assets, accumulated depreciation $ 26,410 $ 25,144
Equity:    
Series A Preferred Stock, par value (in dollars per share) $ 0.01 $ 0.01
Series A Preferred Stock, authorized shares (in shares) 50,000,000 50,000,000
Series A Preferred Stock, dividend rate percentage (in hundredths) 8.625% 8.625%
Series A Preferred Stock, liquidation preference (in dollars per share) $ 1,000 $ 1,000
Series A Preferred Stock, shares issued (in shares) 26,631 26,691
Series A Preferred Stock, shares outstanding (in shares) 26,631 26,691
Common Stock, par value (in dollars per share) $ 0.01 $ 0.01
Common Stock, authorized shares (in shares) 200,000,000 200,000,000
Common Stock, shares issued (in shares) 110,272,697 109,905,241
Common Stock, shares outstanding (in shares) 110,272,697 109,905,241
v3.26.1
HRLP - Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Real estate assets, at cost:    
Land $ 636,317 $ 609,177
Buildings and tenant improvements 6,450,630 6,144,697
Development in-process 0 6,248
Land held for development 198,256 214,149
Total real estate assets 7,285,203 6,974,271
Less-accumulated depreciation (1,955,094) (1,902,276)
Net real estate assets 5,330,109 5,071,995
Real estate and other assets, net, held for sale 0 23,201
Cash and cash equivalents 32,423 27,358
Restricted cash 20,210 15,691
Accounts receivable 29,790 28,263
Mortgages and notes receivable 12,231 12,228
Accrued straight-line rents receivable 325,636 318,024
Investments in and advances to unconsolidated affiliates 495,261 471,580
Deferred leasing costs, net of accumulated amortization of $176,466 and $169,972, respectively 289,131 244,258
Prepaid expenses and other assets, net of accumulated depreciation of $26,410 and $25,144, respectively 62,110 61,240
Total Assets 6,596,901 6,273,838
Liabilities, Redeemable Operating Partnership Units and Capital:    
Mortgages and notes payable, net 3,703,498 3,554,178
Accounts payable, accrued expenses and other liabilities 279,360 284,006
Total Liabilities 3,982,858 3,838,184
Commitments and contingencies
Capital:    
Accumulated other comprehensive loss (2,557) (2,494)
Noncontrolling interests in consolidated affiliates 201,654 3,897
Total Equity/Capital 2,570,854 2,382,877
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital 6,596,901 6,273,838
Highwoods Realty Limited Partnership [Member]    
Real estate assets, at cost:    
Land 636,317 609,177
Buildings and tenant improvements 6,450,630 6,144,697
Development in-process 0 6,248
Land held for development 198,256 214,149
Total real estate assets 7,285,203 6,974,271
Less-accumulated depreciation (1,955,094) (1,902,276)
Net real estate assets 5,330,109 5,071,995
Real estate and other assets, net, held for sale 0 23,201
Cash and cash equivalents 32,423 27,358
Restricted cash 20,210 15,691
Accounts receivable 29,790 28,263
Mortgages and notes receivable 12,231 12,228
Accrued straight-line rents receivable 325,636 318,024
Investments in and advances to unconsolidated affiliates 495,261 471,580
Deferred leasing costs, net of accumulated amortization of $176,466 and $169,972, respectively 289,131 244,258
Prepaid expenses and other assets, net of accumulated depreciation of $26,410 and $25,144, respectively 62,110 61,240
Total Assets 6,596,901 6,273,838
Liabilities, Redeemable Operating Partnership Units and Capital:    
Mortgages and notes payable, net 3,703,498 3,554,178
Accounts payable, accrued expenses and other liabilities 279,360 284,006
Total Liabilities 3,982,858 3,838,184
Commitments and contingencies
Redeemable Operating Partnership Units:    
Common Units, 2,044,053 and 2,151,423 outstanding, respectively 43,189 52,777
Series A Preferred Units (liquidation preference $1,000 per unit), 26,691 and 28,811 units issued and outstanding, respectively 26,631 26,691
Total Redeemable Operating Partnership Units 69,820 79,468
Capital:    
General partner Common Units, 1,118,811 and 1,115,405 outstanding, respectively 23,452 23,547
Limited partner Common Units, 108,745,077 and 108,381,027 outstanding, respectively 2,321,674 2,331,236
Accumulated other comprehensive loss (2,557) (2,494)
Noncontrolling interests in consolidated affiliates 201,654 3,897
Total Equity/Capital 2,544,223 2,356,186
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital $ 6,596,901 $ 6,273,838
v3.26.1
HRLP - Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets:    
Deferred leasing costs, accumulated amortization $ 176,466 $ 169,972
Prepaid expenses and other assets, accumulated depreciation 26,410 25,144
Highwoods Realty Limited Partnership [Member]    
Assets:    
Deferred leasing costs, accumulated amortization 176,466 169,972
Prepaid expenses and other assets, accumulated depreciation $ 26,410 $ 25,144
Redeemable Operating Partnership Units: [Abstract]    
Redeemable Common Units outstanding (in shares) 2,017,248 2,044,053
Series A Preferred Units, liquidation preference (in dollars per share) $ 1,000 $ 1,000
Series A Preferred Units, issued (in shares) 26,631 26,691
Series A Preferred Units, outstanding (in shares) 26,631 26,691
Common Units: [Abstract]    
General partners' capital account, units outstanding (in shares) 1,118,811 1,115,405
Limited partners' capital account, units outstanding (in shares) 108,745,077 108,381,027
v3.26.1
HPI - Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Statement [Abstract]    
Rental and other revenues $ 214,034 $ 200,383
Operating expenses:    
Rental property and other expenses 71,118 65,034
Depreciation and amortization 77,537 71,405
General and administrative 13,434 12,457
Total operating expenses 162,089 148,896
Interest expense 41,696 36,642
Other income 3,168 1,625
Gains on disposition of property 16,963 82,215
Equity in earnings of unconsolidated affiliates 2,985 1,315
Net income 33,365 100,000
Net (income) attributable to noncontrolling interests in the Operating Partnership (579) (1,956)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (849) 26
Dividends on Preferred Stock (574) (621)
Net income available for common stockholders $ 31,363 $ 97,449
Earnings per Common Share – basic:    
Net income available for common stockholders (in dollars per share) $ 0.29 $ 0.91
Weighted average Common Shares outstanding - basic (in shares) 110,039 107,683
Earnings per Common Share - diluted:    
Net income available for common stockholders (in dollars per share) $ 0.29 $ 0.91
Weighted average Common Shares outstanding - diluted (in shares) 112,062 109,834
v3.26.1
HRLP - Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Rental and other revenues $ 214,034 $ 200,383
Operating expenses:    
Rental property and other expenses 71,118 65,034
Depreciation and amortization 77,537 71,405
General and administrative 13,434 12,457
Total operating expenses 162,089 148,896
Interest expense 41,696 36,642
Other income 3,168 1,625
Gains on disposition of property 16,963 82,215
Equity in earnings of unconsolidated affiliates 2,985 1,315
Net income 33,365 100,000
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (849) 26
Highwoods Realty Limited Partnership [Member]    
Rental and other revenues 214,034 200,383
Operating expenses:    
Rental property and other expenses 71,118 65,034
Depreciation and amortization 77,537 71,405
General and administrative 13,434 12,457
Total operating expenses 162,089 148,896
Interest expense 41,696 36,642
Other income 3,168 1,625
Gains on disposition of property 16,963 82,215
Equity in earnings of unconsolidated affiliates 2,985 1,315
Net income 33,365 100,000
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (849) 26
Distributions on Preferred Units (574) (621)
Net income available for common unitholders $ 31,942 $ 99,405
Earnings per Common Unit - basic:    
Net income available for common unitholders (in dollars per share) $ 0.29 $ 0.91
Weighted average Common Units outstanding - basic (in shares) 111,653 109,425
Earnings per Common Unit - diluted:    
Net income available for common unitholders (in dollars per share) $ 0.29 $ 0.91
Weighted average Common Units outstanding - diluted (in shares) 111,653 109,425
v3.26.1
HPI - Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Comprehensive income:    
Net income $ 33,365 $ 100,000
Other comprehensive loss:    
Amortization of cash flow hedges (63) (62)
Total other comprehensive loss (63) (62)
Total comprehensive income 33,302 99,938
Less-comprehensive (income) attributable to noncontrolling interests (1,428) (1,930)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders $ 31,874 $ 98,008
v3.26.1
HRLP - Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Comprehensive income:    
Net income $ 33,365 $ 100,000
Other comprehensive loss:    
Amortization of cash flow hedges (63) (62)
Other comprehensive loss (63) (62)
Total comprehensive income 33,302 99,938
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (1,428) (1,930)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders 31,874 98,008
Highwoods Realty Limited Partnership [Member]    
Comprehensive income:    
Net income 33,365 100,000
Other comprehensive loss:    
Amortization of cash flow hedges (63) (62)
Other comprehensive loss (63) (62)
Total comprehensive income 33,302 99,938
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (849) 26
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders $ 32,453 $ 99,964
v3.26.1
HPI - Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Highwoods Realty Limited Partnership [Member]
Highwoods Realty Limited Partnership [Member]
General Partners' Common Units [Member]
Highwoods Realty Limited Partnership [Member]
Limited Partners' Common Units [Member]
Highwoods Realty Limited Partnership [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Highwoods Realty Limited Partnership [Member]
Noncontrolling Interests in Consolidated Affiliates [Member]
Common Stock [Member]
Series A Cumulative Redeemable Preferred Shares [Member]
Additional Paid-in Capital [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Noncontrolling Interests in Consolidated Affiliates [Member]
Distributions in Excess of Net Income Available for Common Stockholders [Member]
Balance (in shares) at Dec. 31, 2024             107,623,777          
Balance at Dec. 31, 2024 $ 2,365,454 $ 2,336,643 $ 23,345 $ 2,311,253 $ (2,246) $ 4,291 $ 1,076 $ 28,811 $ 3,144,130 $ (2,246) $ 4,291 $ (810,608)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuances of Common Stock, net of issuance costs and tax withholdings - shares             (55,036)          
Issuances of Common Stock, net of issuance costs and tax withholdings (1,762)               (1,762)      
Conversions of Common Units to Common Stock 0                      
Dividends on Common Stock (53,820)                     (53,820)
Dividends on Preferred Stock (621)                     (621)
Adjustment of noncontrolling interests in the Operating Partnership to fair value 2,902               2,902      
Distributions to noncontrolling interests in consolidated affiliates (80) (80)       (80)         (80)  
Issuances of restricted stock - shares             241,888          
Issuances of restricted stock 0                      
Share-based compensation expense, net of forfeitures, value             $ 2          
Share-based compensation expense, net of forfeitures 4,967 4,967 50 4,917         4,965      
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,956)                     (1,956)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 0 0 0 26   (26)         (26) 26
Comprehensive income:                        
Net income 100,000 100,000 1,000 99,000               100,000
Other comprehensive loss (62) (62)     (62)         (62)    
Total comprehensive income 99,938 99,938                    
Balance (in shares) at Mar. 31, 2025             107,810,629          
Balance at Mar. 31, 2025 $ 2,415,022 2,386,211 23,842 2,360,492 (2,308) 4,185 $ 1,078 28,811 3,150,235 (2,308) 4,185 (766,979)
Balance (in shares) at Dec. 31, 2025 109,905,241           109,905,241          
Balance at Dec. 31, 2025 $ 2,382,877 2,356,186 23,547 2,331,236 (2,494) 3,897 $ 1,099 26,691 3,223,767 (2,494) 3,897 (870,083)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuances of Common Stock, net of issuance costs and tax withholdings - shares             (69,257)          
Issuances of Common Stock, net of issuance costs and tax withholdings (1,643)           $ 0   (1,643)      
Conversions of Common Units to Common Stock - Shares             25,855          
Conversions of Common Units to Common Stock 700               700      
Dividends on Common Stock (54,961)                     (54,961)
Dividends on Preferred Stock (574)                     (574)
Adjustment of noncontrolling interests in the Operating Partnership to fair value 8,434               8,434      
Distributions to noncontrolling interests in consolidated affiliates (294) (294)       (294)         (294)  
Contributions from noncontrolling interests in consolidate affiliates 197,202 197,202       197,202         197,202  
Issuances of restricted stock - shares             410,858          
Issuances of restricted stock 0                      
Redemptions/repurchases of Preferred Stock (60)             (60)        
Share-based compensation expense, net of forfeitures, value             $ 4          
Share-based compensation expense, net of forfeitures 6,450 6,450 65 6,385         6,446      
Net (income) attributable to noncontrolling interests in the Operating Partnership (579)                     (579)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 0 0 (8) (841)   849         849 (849)
Comprehensive income:                        
Net income 33,365 33,365 334 33,031               33,365
Other comprehensive loss (63) (63)     (63)         (63)    
Total comprehensive income $ 33,302 33,302                    
Balance (in shares) at Mar. 31, 2026 110,272,697           110,272,697          
Balance at Mar. 31, 2026 $ 2,570,854 $ 2,544,223 $ 23,452 $ 2,321,674 $ (2,557) $ 201,654 $ 1,103 $ 26,631 $ 3,237,704 $ (2,557) $ 201,654 $ (893,681)
v3.26.1
HPI - Consolidated Statements of Equity (Parentheticals) - Highwoods Properties, Inc. [Member] - $ / shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dividends on Common Stock (per share) $ 0.50 $ 0.50
Series A Cumulative Redeemable Preferred Shares [Member]    
Dividends on Preferred Stock (per share) $ 21.5625 $ 21.5625
v3.26.1
HRLP - Consolidated Statements of Capital - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance $ 2,382,877 $ 2,365,454
Share-based compensation expense, net of forfeitures 6,450 4,967
Distributions to noncontrolling interests in consolidated affiliates (294) (80)
Contributions from noncontrolling interests in consolidate affiliates 197,202  
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 0 0
Comprehensive income:    
Net income 33,365 100,000
Other comprehensive loss (63) (62)
Total comprehensive income 33,302 99,938
Balance 2,570,854 2,415,022
Highwoods Realty Limited Partnership [Member]    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance 2,356,186 2,336,643
Issuances of Common Units, net of issuance costs and tax withholdings (1,643) (1,762)
Redemption of Common Units (24) (10)
Distributions on Common Units (55,765) (54,691)
Distributions on Preferred Units (574) (621)
Share-based compensation expense, net of forfeitures 6,450 4,967
Distributions to noncontrolling interests in consolidated affiliates (294) (80)
Contributions from noncontrolling interests in consolidate affiliates 197,202  
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner 9,383 1,827
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 0 0
Comprehensive income:    
Net income 33,365 100,000
Other comprehensive loss (63) (62)
Total comprehensive income 33,302 99,938
Balance 2,544,223 2,386,211
General Partners' Common Units [Member] | Highwoods Realty Limited Partnership [Member]    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance 23,547 23,345
Issuances of Common Units, net of issuance costs and tax withholdings (16) (18)
Redemption of Common Units 0 0
Distributions on Common Units (558) (547)
Distributions on Preferred Units (6) (6)
Share-based compensation expense, net of forfeitures 65 50
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner 94 18
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (8) 0
Comprehensive income:    
Net income 334 1,000
Balance 23,452 23,842
Limited Partners' Common Units [Member] | Highwoods Realty Limited Partnership [Member]    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance 2,331,236 2,311,253
Issuances of Common Units, net of issuance costs and tax withholdings (1,627) (1,744)
Redemption of Common Units (24) (10)
Distributions on Common Units (55,207) (54,144)
Distributions on Preferred Units (568) (615)
Share-based compensation expense, net of forfeitures 6,385 4,917
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner 9,289 1,809
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (841) 26
Comprehensive income:    
Net income 33,031 99,000
Balance 2,321,674 2,360,492
Accumulated Other Comprehensive Income (Loss) [Member] | Highwoods Realty Limited Partnership [Member]    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance (2,494) (2,246)
Comprehensive income:    
Other comprehensive loss (63) (62)
Balance (2,557) (2,308)
Noncontrolling Interests in Consolidated Affiliates [Member] | Highwoods Realty Limited Partnership [Member]    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance 3,897 4,291
Distributions to noncontrolling interests in consolidated affiliates (294) (80)
Contributions from noncontrolling interests in consolidate affiliates 197,202  
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 849 (26)
Comprehensive income:    
Balance $ 201,654 $ 4,185
v3.26.1
HRLP - Consolidated Statements of Capital (Parentheticals) - Highwoods Realty Limited Partnership [Member] - $ / shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Distributions on Common Units (per unit) $ 0.50 $ 0.50
Series A Cumulative Redeemable Preferred Shares [Member]    
Distributions on Preferred Units (per unit) $ 21.5625 $ 21.5625
v3.26.1
HPI - Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities:    
Net income $ 33,365 $ 100,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 77,537 71,405
Amortization of lease incentives and acquisition-related intangible assets and liabilities 845 491
Share-based compensation expense 6,450 4,967
Net credit losses on operating lease receivables 1,176 556
Accrued interest on mortgages and notes receivable (204) (178)
Amortization of debt issuance costs 1,500 1,404
Amortization of cash flow hedges (63) (62)
Amortization of mortgages and notes payable fair value adjustments 88 28
Net gains on disposition of property (16,963) (82,215)
Equity in earnings of unconsolidated affiliates (2,985) (1,315)
Distributions of earnings from unconsolidated affiliates 2,560 1,942
Changes in operating assets and liabilities:    
Accounts receivable (2,848) 1,587
Prepaid expenses and other assets (1,509) (2,092)
Accrued straight-line rents receivable (8,267) (3,144)
Accounts payable, accrued expenses and other liabilities (27,833) (47,050)
Net cash provided by operating activities 62,849 46,324
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (309,838) (137,828)
Investments in development in-process (1,438) 0
Investments in tenant improvements and deferred leasing costs (36,359) (25,304)
Investments in building improvements (12,295) (11,038)
Net proceeds from disposition of real estate assets 40,105 137,779
Distributions of capital from unconsolidated affiliates 3,934 941
Investments in mortgages and notes receivable 0 (1,577)
Repayments of mortgages and notes receivable 0 6,320
Investments in and advances to unconsolidated affiliates (27,344) (8,191)
Changes in earnest money deposits 0 10,000
Changes in other investing activities 3,063 1,689
Net cash used in investing activities (340,172) (27,209)
Financing activities:    
Dividends on Common Stock (54,961) (53,820)
Redemptions/repurchases of Preferred Stock (60) 0
Redemptions of Common Units (24) (10)
Dividends on Preferred Stock (574) (621)
Distributions to noncontrolling interests in the Operating Partnership (1,009) (1,076)
Distributions to noncontrolling interest in consolidated affiliates (294) (80)
Contributions from noncontrolling interests in consolidated affiliates 197,202 0
Proceeds from the issuance of Common Stock 288 411
Costs paid for the issuance of Common Stock (68) (164)
Repurchase of shares related to tax withholdings (1,863) (2,009)
Borrowings on revolving credit facility 203,000 185,000
Repayments of revolving credit facility (53,000) (139,000)
Repayments of mortgages and notes payable (1,730) (1,909)
Net cash provided by/(used in) financing activities 286,907 (13,278)
Net increase in cash and cash equivalents and restricted cash 9,584 5,837
Cash and cash equivalents and restricted cash at beginning of the period 43,049 33,677
Cash and cash equivalents and restricted cash at end of the period 52,633 39,514
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 32,423 20,107
Restricted cash at end of the period 20,210 19,407
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 50,351 50,530
Supplemental disclosure of non-cash investing and financing activities:    
Conversions of Common Units to Common Stock 700 0
Changes in accrued capital expenditures [1] 15,114 (4,059)
Write-off of fully depreciated real estate assets 12,860 34,243
Write-off of fully amortized leasing costs 6,180 18,674
Adjustment of noncontrolling interests in the Operating Partnership to fair value (8,434) (2,902)
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 60,100 $ 48,800
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities as of March 31, 2026 and 2025 were $60.1 million and $48.8 million, respectively.
v3.26.1
HRLP - Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities:    
Net income $ 33,365 $ 100,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 77,537 71,405
Amortization of lease incentives and acquisition-related intangible assets and liabilities 845 491
Share-based compensation expense 6,450 4,967
Net credit losses on operating lease receivables 1,176 556
Accrued interest on mortgages and notes receivable (204) (178)
Amortization of debt issuance costs 1,500 1,404
Amortization of cash flow hedges (63) (62)
Amortization of mortgages and notes payable fair value adjustments 88 28
Net gains on disposition of property (16,963) (82,215)
Equity in earnings of unconsolidated affiliates (2,985) (1,315)
Distributions of earnings from unconsolidated affiliates 2,560 1,942
Changes in operating assets and liabilities:    
Accounts receivable (2,848) 1,587
Prepaid expenses and other assets (1,509) (2,092)
Accrued straight-line rents receivable (8,267) (3,144)
Accounts payable, accrued expenses and other liabilities (27,833) (47,050)
Net cash provided by operating activities 62,849 46,324
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (309,838) (137,828)
Investments in development in-process (1,438) 0
Investments in tenant improvements and deferred leasing costs (36,359) (25,304)
Investments in building improvements (12,295) (11,038)
Net proceeds from disposition of real estate assets 40,105 137,779
Distributions of capital from unconsolidated affiliates 3,934 941
Investments in mortgages and notes receivable 0 (1,577)
Repayments of mortgages and notes receivable 0 6,320
Investments in and advances to unconsolidated affiliates (27,344) (8,191)
Changes in earnest money deposits 0 10,000
Changes in other investing activities 3,063 1,689
Net cash used in investing activities (340,172) (27,209)
Financing activities:    
Redemptions of Common Units (24) (10)
Distributions to noncontrolling interest in consolidated affiliates (294) (80)
Contributions from noncontrolling interests in consolidated affiliates 197,202 0
Borrowings on revolving credit facility 203,000 185,000
Repayments of revolving credit facility (53,000) (139,000)
Repayments of mortgages and notes payable (1,730) (1,909)
Net cash provided by/(used in) financing activities 286,907 (13,278)
Net increase in cash and cash equivalents and restricted cash 9,584 5,837
Cash and cash equivalents and restricted cash at beginning of the period 43,049 33,677
Cash and cash equivalents and restricted cash at end of the period 52,633 39,514
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 32,423 20,107
Restricted cash at end of the period 20,210 19,407
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 50,351 50,530
Supplemental disclosure of non-cash investing and financing activities:    
Changes in accrued capital expenditures [1] 15,114 (4,059)
Write-off of fully depreciated real estate assets 12,860 34,243
Write-off of fully amortized leasing costs 6,180 18,674
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities 60,100 48,800
Highwoods Realty Limited Partnership [Member]    
Operating activities:    
Net income 33,365 100,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 77,537 71,405
Amortization of lease incentives and acquisition-related intangible assets and liabilities 845 491
Share-based compensation expense 6,450 4,967
Net credit losses on operating lease receivables 1,176 556
Accrued interest on mortgages and notes receivable (204) (178)
Amortization of debt issuance costs 1,500 1,404
Amortization of cash flow hedges (63) (62)
Amortization of mortgages and notes payable fair value adjustments 88 28
Net gains on disposition of property (16,963) (82,215)
Equity in earnings of unconsolidated affiliates (2,985) (1,315)
Distributions of earnings from unconsolidated affiliates 2,560 1,942
Changes in operating assets and liabilities:    
Accounts receivable (2,848) 1,587
Prepaid expenses and other assets (1,509) (2,092)
Accrued straight-line rents receivable (8,267) (3,144)
Accounts payable, accrued expenses and other liabilities (27,833) (47,050)
Net cash provided by operating activities 62,849 46,324
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (309,838) (137,828)
Investments in development in-process (1,438) 0
Investments in tenant improvements and deferred leasing costs (36,359) (25,304)
Investments in building improvements (12,295) (11,038)
Net proceeds from disposition of real estate assets 40,105 137,779
Distributions of capital from unconsolidated affiliates 3,934 941
Investments in mortgages and notes receivable 0 (1,577)
Repayments of mortgages and notes receivable 0 6,320
Investments in and advances to unconsolidated affiliates (27,344) (8,191)
Changes in earnest money deposits 0 10,000
Changes in other investing activities 3,063 1,689
Net cash used in investing activities (340,172) (27,209)
Financing activities:    
Distributions on Common Units (55,765) (54,691)
Redemptions/repurchases of Preferred Units (60) 0
Redemptions of Common Units (24) (10)
Distributions on Preferred Units (574) (621)
Distributions to noncontrolling interest in consolidated affiliates (294) (80)
Contributions from noncontrolling interests in consolidated affiliates 197,202 0
Proceeds from the issuance of Common Units 288 411
Costs paid for the issuance of Common Units (68) (164)
Repurchase of units related to tax withholdings (1,863) (2,009)
Borrowings on revolving credit facility 203,000 185,000
Repayments of revolving credit facility (53,000) (139,000)
Repayments of mortgages and notes payable (1,730) (1,909)
Payments for debt issuance costs and other financing activities (205) (205)
Net cash provided by/(used in) financing activities 286,907 (13,278)
Net increase in cash and cash equivalents and restricted cash 9,584 5,837
Cash and cash equivalents and restricted cash at beginning of the period 43,049 33,677
Cash and cash equivalents and restricted cash at end of the period 52,633 39,514
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 32,423 20,107
Restricted cash at end of the period 20,210 19,407
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 50,351 50,530
Supplemental disclosure of non-cash investing and financing activities:    
Changes in accrued capital expenditures [1] 15,114 (4,059)
Write-off of fully depreciated real estate assets 12,860 34,243
Write-off of fully amortized leasing costs 6,180 18,674
Adjustment of Redeemable Common Units to fair value (9,588) (2,032)
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 60,100 $ 48,800
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities as of March 31, 2026 and 2025 were $60.1 million and $48.8 million, respectively.
v3.26.1
Description of Business and Significant Accounting Policies
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business and Significant Accounting Policies Description of Business and Significant Accounting Policies
Description of Business

Highwoods Properties, Inc. (the “Company”) is a fully integrated office real estate investment trust (“REIT”) that owns, develops, acquires, leases and manages properties primarily in the best business districts of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa. The Company conducts its activities through Highwoods Realty Limited Partnership (the “Operating Partnership”). As of March 31, 2026, we owned or had an interest in 27.4 million rentable square feet of in-service properties, 0.8 million rentable square feet of office properties under development and development land with approximately 3.5 million rentable square feet of potential office build out.

Capital Structure

The Company is the sole general partner of the Operating Partnership. As of March 31, 2026, the Company owned all of the Preferred Units and 109.9 million, or 98.2%, of the Common Units in the Operating Partnership. Limited partners owned the remaining 2.0 million Common Units. During the three months ended March 31, 2026, the Company redeemed 25,855 Common Units for a like number of shares of Common Stock and 950 Common Units for cash.

During the first quarter of 2026, we entered into separate equity distribution agreements pursuant to which the Company may offer and sell up to $300.0 million in aggregate gross sales price of shares of Common Stock, including on a forward basis under forward sale agreements. During the three months ended March 31, 2026, the Company issued no shares of Common Stock under its equity distribution agreements.

Basis of Presentation

Our Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

The Company’s Consolidated Financial Statements include the Operating Partnership, wholly owned subsidiaries and those entities in which the Company has the controlling interest. The Operating Partnership’s Consolidated Financial Statements include wholly owned subsidiaries and those entities in which the Operating Partnership has the controlling interest. We consolidate joint venture investments, such as interests in partnerships and limited liability companies, when we control the major operating and financial policies of the investment through majority ownership, in our capacity as a general partner or managing member or through some other contractual right. In addition, we consolidate those entities deemed to be variable interest entities in which we are determined to be the primary beneficiary.

As of March 31, 2026, we are involved with eight entities we determined to be variable interest entities, three of which we are the primary beneficiary and are consolidated and five of which we are not the primary beneficiary and are not consolidated. In addition, during 2025, we acquired a building using a special purpose entity owned by a qualified intermediary to facilitate a potential Section 1031 reverse exchange under the Internal Revenue Code. To realize the tax deferral available under the Section 1031 exchange, we must complete the Section 1031 exchange, and take title to the to-be-exchanged building within 180 days of the acquisition date. We have determined that this entity is a variable interest entity of which we are the primary beneficiary and therefore, we consolidate this entity. As of March 31, 2026, this variable interest entity had total assets and liabilities of $205.5 million and $8.0 million, respectively.

All intercompany transactions and accounts have been eliminated.

In the opinion of management, the unaudited interim Consolidated Financial Statements and accompanying unaudited consolidated financial information contain all adjustments (including normal recurring accruals) necessary for a fair presentation of our financial position, results of operations and cash flows. We have condensed or omitted certain notes and other information from the interim Consolidated Financial Statements presented in this Quarterly Report as permitted by SEC
rules and regulations. These Consolidated Financial Statements should be read in conjunction with our 2025 Annual Report on Form 10-K.

Use of Estimates

The preparation of consolidated financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in our Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates.

Insurance

We are primarily self-insured for health care claims for participating employees. To limit our exposure to significant claims, we have stop-loss coverage on a per claim and annual aggregate basis. We use all relevant information to determine our liabilities for claims, including actuarial estimates of claim liabilities. When determining our liabilities, we include claims for incurred losses, even if they are unreported. As of March 31, 2026, a reserve of $0.5 million was recorded to cover estimated reported and unreported claims.

Recently Issued Accounting Standards

The Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) that requires disaggregated disclosure of income statement expenses. Certain expense captions will be disaggregated into specified categories in disclosures within the Notes to Consolidated Financial Statements. The ASU is required to be adopted starting with our 2027 Annual Report on Form 10-K. We do not expect this adoption will have a material effect on our Consolidated Financial Statements.
v3.26.1
Leases
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases Leases
Operating Leases

We generally lease our office properties to lessees in exchange for fixed monthly payments that cover rent, property taxes, insurance and certain cost recoveries, primarily common area maintenance. Our office properties that are under lease are primarily located in Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa and are leased to a wide variety of lessees across many industries. Our leases are operating leases and mostly range from three to 10 years. We recognized rental and other revenues related to operating lease payments of $209.8 million and $196.5 million during the three months ended March 31, 2026 and 2025, respectively. Included in these amounts were variable lease payments of $18.2 million and $16.9 million during the three months ended March 31, 2026 and 2025, respectively.
v3.26.1
Investments in and Advances to Affiliates
 3 Months Ended
Mar. 31, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Investments in and Advances to Affiliates Investments in and Advances to Affiliates
Unconsolidated Affiliates

- Granite Park Six JV, LLC (“Granite Park Six joint venture”)

We own the Granite Park Six building in Dallas as part of a joint venture with Granite Properties (“Granite”). We own a 50.0% interest in this joint venture. We determined that we have a variable interest in the Granite Park Six joint venture primarily because the entity was designed to pass along interest rate risk, equity price risk and operation risk to us and Granite as equity holders. The joint venture was further determined to be a variable interest entity as it requires additional subordinated financial support in the form of a loan because the initial equity investments provided by us and Granite were not sufficient to finance the planned investments and operations. We concluded we do not have the power to direct matters that most significantly impact the activities of the entity and therefore do not qualify as the primary beneficiary. Accordingly, the entity is not consolidated.

The Granite Park Six joint venture obtained a construction loan for up to $115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. During the first quarter of 2026, we contributed preferred equity of $19.3 million to the Granite Park Six joint venture. The joint venture used these funds to pay off at maturity the $16.2 million outstanding balance of the construction loan. The preferred equity contributed by us is entitled to receive monthly distributions at a rate of 8.0%. These reconsideration events did not change our initial conclusion that the Granite Park Six joint venture is a variable interest entity of which we are not the primary beneficiary. As such, the entity remains unconsolidated.

As of March 31, 2026, our risk of loss with respect to this arrangement was limited to the carrying value of our investment balance of $94.3 million, which includes the $19.3 million of preferred equity we funded to the joint venture.

- GPI 23 Springs JV, LLC (“23Springs joint venture”)

We own the 23Springs building in Dallas as part of a joint venture with Granite. We own a 50.0% interest in this joint venture. We determined that we have a variable interest in the 23Springs joint venture primarily because the entity was designed to pass along interest rate risk, equity price risk and operation risk to us and Granite as equity holders. The joint venture was further determined to be a variable interest entity as it requires additional subordinated financial support in the form of a loan because the initial equity investments provided by us and Granite were not sufficient to finance the planned investments and operations. We concluded we do not have the power to direct matters that most significantly impact the activities of the entity and therefore do not qualify as the primary beneficiary. Accordingly, the entity is not consolidated.

The 23Springs joint venture obtained a construction loan for up to $265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026, which can be extended for up to two additional years at our option. During the first quarter of 2026, the joint venture exercised its option to extend the loan by an additional year. The new maturity date is March 2027. As of March 31, 2026, $178.0 million was drawn on this loan.

As of March 31, 2026, our risk of loss with respect to this arrangement was limited to the carrying value of our investment balance of $108.8 million. The assets of the 23Springs joint venture can only be used to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets.

- M+O JV, LLC (“McKinney & Olive joint venture”)

We own the McKinney & Olive building in Dallas as part of a joint venture with Granite in which we own a 50.0% interest. As part of the original acquisition of McKinney & Olive, the McKinney & Olive joint venture assumed a secured loan recorded at fair value of $137.0 million, with a stated interest rate of 4.5% and an effective interest rate of 5.3%. We determined that we have a variable interest in the McKinney & Olive joint venture primarily because the entity was designed to pass along interest rate risk, equity price risk and operation risk to us and Granite as equity holders. The McKinney & Olive joint venture was further determined to be a variable interest entity as it required additional subordinated financial support in the form of the secured mortgage loan because the initial equity investments by us and Granite were not sufficient to finance its planned investments and operations. The secured mortgage loan was subsequently paid in full at maturity. We concluded we do not have the power to direct matters that most significantly impact the activities of the entity and therefore do not qualify as the primary beneficiary. Accordingly, the entity is not consolidated.
As of March 31, 2026, our risk of loss with respect to this arrangement was limited to the carrying value of our investment balance of $177.8 million. The assets of the McKinney & Olive joint venture can be used only to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets.

- Midtown East Tampa, LLC (“Midtown East joint venture”)

We own the Midtown East building in Tampa as part of a joint venture with The Bromley Companies (“Bromley”) in which we own a 50.0% interest. We determined that we have a variable interest in the Midtown East joint venture primarily because the entity was designed to pass along interest rate risk, equity price risk and operation risk to us as both a debt and equity holder and to Bromley as an equity holder. The Midtown East joint venture was further determined to be a variable interest entity as it requires additional subordinated financial support in the form of a loan because the initial equity investments provided by us and Bromley were not sufficient to finance its planned investments and operations. We concluded we do not have the power to direct matters that most significantly impact the activities of the entity and therefore do not qualify as the primary beneficiary. Accordingly, the entity is not consolidated.

As of March 31, 2026, our risk of loss with respect to this arrangement was $48.2 million, which consists of the $12.6 million carrying value of our investment balance plus the $35.6 million outstanding balance of the loan we have provided to the joint venture. The outstanding balance on the loan is recorded in investments in and advances to unconsolidated affiliates on our Consolidated Balance Sheets. The assets of the Midtown East joint venture can be used only to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets.

- Brand/HRLP 2827 Peachtree LLC (“2827 Peachtree joint venture”)

We own the 2827 Peachtree building in Atlanta as part of a joint venture with Brand Properties, LLC (“Brand”) in which we own a 50.0% interest. We determined that we have a variable interest in the 2827 Peachtree joint venture primarily because the entity was designed to pass along interest rate risk, equity price risk and operation risk to us as both a debt and equity holder and to Brand as an equity holder. The 2827 Peachtree joint venture was further determined to be a variable interest entity as it requires additional subordinated financial support in the form of a loan because the initial equity investments provided by us and Brand were not sufficient to finance its planned investments and operations. We concluded we do not have the power to direct matters that most significantly impact the activities of the entity and therefore do not qualify as the primary beneficiary. Accordingly, the entity is not consolidated.

As of March 31, 2026, our risk of loss with respect to this arrangement was $61.8 million, which consists of the $11.9 million carrying value of our investment balance plus the $49.9 million outstanding balance of the loan we have provided to the joint venture. The outstanding balance on the loan is recorded in investments in and advances to unconsolidated affiliates on our Consolidated Balance Sheets. The assets of the 2827 Peachtree joint venture can be used only to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets.

Consolidated Affiliates

- HRLP Bloc 83, L.P. (“Bloc 83 joint venture”)

During the first quarter of 2026, we acquired Bloc83, a two-building, 492,000 square foot mixed-use asset in CBD Raleigh, through the formation of a joint venture with the North Carolina Investment Authority (“NCIA”), in which we initially own a 10.0% interest. We retained an option to increase our ownership interest to 50.0%. The Bloc 83 joint venture has an anticipated total investment of $210.5 million, which includes planned near-term building improvements and transaction costs. The joint venture’s planned total investment will be funded with $21.0 million of common equity contributed by us and $189.5 million of common equity contributed by the NCIA. The assets acquired and liabilities assumed were recorded at relative fair value as determined by management based on information available at the acquisition date and on current assumptions as to future operations. The NCIA has the right to sell to us its interest in the joint venture under certain circumstances for fair market value at any time after the fifth anniversary of the formation date. If the NCIA exercises this right, in lieu of us acquiring the NCIA's interest, we have the option to instead cause the Bloc 83 joint venture to market the asset for sale to a third party for fair market value.

We determined that we have a variable interest in the Bloc 83 joint venture primarily because the entity was designed to pass along equity price risk and operation risk to us and the NCIA as equity holders. The Bloc 83 joint venture was further determined to be a variable interest entity as the initial equity investments provided by us and the NCIA were not sufficient to finance its planned investments and operations. We, as the general partner and through our control rights as set forth in the joint venture’s governance documents, were determined to be the primary beneficiary as we have the power to direct the activities
that most significantly affect the entity (primarily lease rates, property operations and capital expenditures). As such, the Bloc 83 joint venture is consolidated and all intercompany transactions and accounts are eliminated.

The following table sets forth the assets and liabilities of the Bloc 83 joint venture included on our Consolidated Balance Sheets:
March 31,
2026
Net real estate assets$174,528 
Cash and cash equivalents$8,755 
Restricted cash$5,504 
Accounts receivable$183 
Accrued straight-line rents receivable$275 
Deferred leasing costs, net$29,496 
Accounts payable, accrued expenses and other liabilities$7,983 

The assets of the Bloc 83 joint venture can be used only to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets.

- Terraces JV, LLC (“Terraces joint venture”)

During the first quarter of 2026, we expanded our Dallas market presence by acquiring The Terraces, a 173,000 square foot office building in the Preston Center BBD of Dallas, through the formation of a joint venture with Granite in which we own an 80.0% interest. The Terraces joint venture has an anticipated total investment of $109.3 million, which includes planned near-term building improvements and transaction costs. The joint venture’s planned total investment will be funded with $64.3 million of preferred equity contributed by us, $36.0 million of common equity contributed by us and $9.0 million of common equity contributed by Granite. The preferred equity contributed by us is entitled to receive monthly distributions from available cash at a rate of 5.75%. The assets acquired and liabilities assumed were recorded at relative fair value as determined by management based on information available at the acquisition date and on current assumptions as to future operations. We have a right to buy, and Granite has a right to sell to us, Granite’s interest in the joint venture under certain circumstances for fair market value at any time after the third anniversary of the formation date. If Granite exercises this right, in lieu of us acquiring Granite's interest, we have the option to instead cause the Terraces joint venture to market the asset for sale to a third party for fair market value.

We determined that we have a variable interest in the Terraces joint venture primarily because the entity was designed to pass along equity price risk and operation risk to us and Granite as equity holders. The Terraces joint venture was further determined to be a variable interest entity as the initial equity investments provided by us and Granite were not sufficient to finance its planned investments and operations. We, as the majority owner and through our control rights as set forth in the joint venture’s governance documents, were determined to be the primary beneficiary as we have both the power to direct the activities that most significantly affect the entity (primarily lease rates, property operations and capital expenditures) and significant economic exposure through our equity investment. As such, the Terraces joint venture is consolidated and all intercompany transactions and accounts are eliminated.

The following table sets forth the assets and liabilities of the Terraces joint venture included on our Consolidated Balance Sheets:
March 31,
2026
Net real estate assets$93,928 
Cash and cash equivalents$2,628 
Accrued straight-line rents receivable$384 
Deferred leasing costs, net$13,814 
Accounts payable, accrued expenses and other liabilities$4,355 

The assets of the Terraces joint venture can be used only to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets.
- HRLP MTW, LLC (“Midtown West joint venture”)

We own the Midtown West building in Tampa as part of a joint venture with Bromley in which we own an 80.0% interest. We determined that we have a variable interest in the Midtown West joint venture primarily because the entity was designed to pass along interest rate risk, equity price risk and operation risk to us and Bromley as equity holders. The Midtown West joint venture was further determined to be a variable interest entity as it requires additional subordinated financial support in the form of a loan because the initial equity investments provided by us and Bromley were not sufficient to finance its planned investments and operations. We, as the majority owner and managing member and through our control rights as set forth in the joint venture’s governance documents, were determined to be the primary beneficiary as we have both the power to direct the activities that most significantly affect the entity (primarily lease rates, property operations and capital expenditures) and significant economic exposure through our equity investment. As such, the Midtown West joint venture is consolidated and all intercompany transactions and accounts are eliminated.

The following table sets forth the assets and liabilities of the Midtown West joint venture included on our Consolidated Balance Sheets:
March 31,
2026		December 31,
2025
Net real estate assets$55,803 $56,299 
Cash and cash equivalents$1,675 $1,361 
Accounts receivable$257 $203 
Accrued straight-line rents receivable$5,210 $5,254 
Deferred leasing costs, net$2,081 $2,211 
Prepaid expenses and other assets, net$101 $124 
Mortgages and notes payable, net$43,986 $44,059 
Accounts payable, accrued expenses and other liabilities$1,318 $1,170 
The assets of the Midtown West joint venture can be used only to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets.
v3.26.1
Real Estate Assets
 3 Months Ended
Mar. 31, 2026
Real Estate [Abstract]  
Real Estate Assets Real Estate Assets
Dispositions
During the first quarter of 2026, we sold three buildings in Richmond for an aggregate sales price of $42.3 million and recorded aggregate gains on disposition of property of $17.0 million.
v3.26.1
Intangible Assets and Below Market Lease Liabilities
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Below Market Lease Liabilities Intangible Assets and Below Market Lease Liabilities
The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:

March 31,
2026		December 31,
2025
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)$465,597 $414,230 
Less accumulated amortization(176,466)(169,972)
$289,131 $244,258 
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities$37,646 $32,628 
Less accumulated amortization(17,853)(17,102)
$19,793 $15,526 

The following table sets forth amortization of intangible assets and below market lease liabilities:

Three Months Ended
March 31,
20262025
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)$10,953 $9,004 
Amortization of lease incentives (in rental and other revenues)$884 $645 
Amortization of acquisition-related above market lease intangible assets (in rental and other revenues)$845 $598 
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)$(884)$(752)

The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:

Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization)Amortization of Lease Incentives (in Rental and Other Revenues)Amortization of Acquisition-Related Above Market Lease Intangible Assets (in Rental and Other Revenues)Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
April 1 through December 31, 2026$35,615 $2,063 $2,589 $(2,544)
202742,139 2,557 2,997 (3,080)
202837,189 2,353 2,802 (2,666)
202932,977 2,061 2,572 (2,289)
203028,888 1,747 2,246 (2,154)
Thereafter76,017 5,252 7,067 (7,060)
$252,825 $16,033 $20,273 $(19,793)
Weighted average remaining amortization periods as of March 31, 2026 (in years)7.37.67.77.6
The following table sets forth the intangible assets acquired as a result of the acquisitions of Bloc83 in Raleigh and The Terraces in Dallas in the first quarter of 2026:

Acquisition-Related Above Market Lease Intangible Assets (amortized in Rental and Other Revenues)Acquisition-Related Intangible Assets (amortized in Depreciation and Amortization)Acquisition-Related Below Market Lease Liabilities (amortized in Rental and Other Revenues)
Amount recorded at acquisition$7,751 $37,190 $(5,152)
Weighted average remaining amortization periods as of March 31, 2026 (in years)8.26.96.7
v3.26.1
Mortgages and Notes Payable
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Mortgages and Notes Payable Mortgages and Notes Payable
The following table sets forth our mortgages and notes payable:

March 31,
2026		December 31,
2025
Secured indebtedness$701,302 $703,409 
Unsecured indebtedness3,017,210 2,866,745 
Less-unamortized debt issuance costs(15,014)(15,976)
Total mortgages and notes payable, net$3,703,498 $3,554,178 

As of March 31, 2026, our secured mortgage loans were collateralized by real estate assets with an undepreciated book value of $1,278.0 million.

Our $750.0 million unsecured revolving credit facility is scheduled to mature in January 2028 (but can be extended for two additional six-month periods at our option assuming no defaults have occurred). The interest rate on our revolving credit facility is SOFR plus a related spread adjustment of 10 basis points and a borrowing spread of 85 basis points, based on current credit ratings. The annual facility fee is 20 basis points. The interest rate and facility fee are based on the higher of the publicly announced ratings from Moody’s Investors Service or Standard & Poor’s Ratings Services. The interest rate may be adjusted upward or downward by 2.5 basis points depending upon whether or not we achieve certain pre-determined sustainability goals with respect to the ongoing reduction of greenhouse gas emissions. There was $175.0 million outstanding under our revolving credit facility as of both March 31, 2026 and April 21, 2026. As of both March 31, 2026 and April 21, 2026, we had $0.1 million of outstanding letters of credit, which reduce the availability on our revolving credit facility. As a result, the unused capacity of our revolving credit facility as of both March 31, 2026 and April 21, 2026 was $574.9 million.

We are currently in compliance with financial covenants with respect to our consolidated debt.

We have considered our short-term liquidity needs within one year from April 28, 2026 (the date of issuance of the quarterly financial statements) and the adequacy of our estimated cash flows from operating activities and other available financing sources to meet these needs. In particular, we have given consideration to our scheduled debt maturities during such one-year period, which consists of $300.0 million principal amount of unsecured notes that are scheduled to mature in March 2027. We have concluded it is probable we will meet these short-term liquidity requirements through a combination of the following:
•available cash and cash equivalents;
•cash flows from operating activities;
•issuance of debt securities by the Operating Partnership;
•secured debt;
•bank term loans;
•borrowings under our revolving credit facility;
•issuance of equity securities by the Company or the Operating Partnership; and
•the disposition of non-core assets.
v3.26.1
Noncontrolling Interests
 3 Months Ended
Mar. 31, 2026
Noncontrolling Interest [Abstract]  
Noncontrolling Interests Noncontrolling Interests
Noncontrolling Interests in Consolidated Affiliates

As of March 31, 2026, our noncontrolling interest in consolidated affiliates relates to our joint venture partners' 20.0% interest in the Midtown West joint venture, 90.0% interest in the Bloc 83 joint venture and 20.0% interest in the Terraces joint venture. Each of our joint venture partners is an unrelated third party.

Noncontrolling Interests in the Operating Partnership

The following table sets forth the Company’s noncontrolling interests in the Operating Partnership:

Three Months Ended
March 31,
20262025
Beginning noncontrolling interests in the Operating Partnership$52,777 $65,791 
Adjustment of noncontrolling interests in the Operating Partnership to fair value(8,434)(2,902)
Conversions of Common Units to Common Stock(700)— 
Redemptions of Common Units(24)(10)
Net income attributable to noncontrolling interests in the Operating Partnership579 1,956 
Distributions to noncontrolling interests in the Operating Partnership(1,009)(1,076)
Total noncontrolling interests in the Operating Partnership$43,189 $63,759 

The following table sets forth net income available for common stockholders and transfers from the Company’s noncontrolling interests in the Operating Partnership:

Three Months Ended
March 31,
20262025
Net income available for common stockholders$31,363 $97,449 
Increase in additional paid in capital from conversions of Common Units to Common Stock700 — 
Redemptions of Common Units24 10 
Change from net income available for common stockholders and transfers from noncontrolling interests$32,087 $97,459 
v3.26.1
Disclosure About Fair Value of Financial Instruments
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Disclosure About Fair Value of Financial Instruments Disclosure About Fair Value of Financial Instruments
The following summarizes the levels of inputs that we use to measure fair value.

Level 1.  Quoted prices in active markets for identical assets or liabilities.

Our Level 1 asset is our investment in marketable securities that we use to pay benefits under our non-qualified deferred compensation plan. Our Level 1 liability is our non-qualified deferred compensation obligation. The Company’s Level 1 noncontrolling interests in the Operating Partnership relate to the ownership of Common Units by various individuals and entities other than the Company.

Level 2. Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities.

Our Level 2 assets include the fair value of our mortgages and notes receivable. Our Level 2 liabilities include the fair value of our mortgages and notes payable and any interest rate swaps.

The fair value of mortgages and notes receivable and mortgages and notes payable is estimated by the income approach, which uses contractual cash flows and market-based interest rates to approximate the price that would be paid in an orderly transaction between market participants. The fair value of any interest rate swaps is determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The
variable cash payments of interest rate swaps are based on the expectation of future interest rates (forward curves) derived from observed market interest rate curves. In addition, credit valuation adjustments are considered in the fair values to account for potential nonperformance risk, but were concluded to not be significant inputs to the calculation for the periods presented.

Level 3. Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Our Level 3 assets include any real estate assets recorded at fair value on a non-recurring basis as a result of our quarterly impairment analysis, which are valued using unobservable local and national industry market data such as comparable sales, appraisals, brokers’ opinions of value and/or the terms of definitive sales contracts. Significant increases or decreases in any valuation inputs in isolation would result in a significantly lower or higher fair value measurement.

The following table sets forth our assets and liabilities and the Company’s noncontrolling interests in the Operating Partnership that are measured or disclosed at fair value within the fair value hierarchy:

Level 1Level 2
TotalQuoted Prices
in Active
Markets for Identical Assets or Liabilities		Significant Observable Inputs
Fair Value as of March 31, 2026:
Assets:
Mortgages and notes receivable, at fair value (1)
$12,231 $— $12,231 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
593 593 — 
Total Assets$12,824 $593 $12,231 
Noncontrolling Interests in the Operating Partnership$43,189 $43,189 $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$3,586,387 $— $3,586,387 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
593 593 — 
Total Liabilities
$3,586,980 $593 $3,586,387 
Fair Value as of December 31, 2025:
Assets:
Mortgages and notes receivable, at fair value (1)
$12,228 $— $12,228 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
1,396 1,396 — 
Total Assets$13,624 $1,396 $12,228 
Noncontrolling Interests in the Operating Partnership$52,777 $52,777 $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$3,471,003 $— $3,471,003 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
1,396 1,396 — 
Total Liabilities
$3,472,399 $1,396 $3,471,003 
__________
(1)    Amounts are not recorded at fair value on our Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025.
v3.26.1
Share-Based Payments
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Share-Based Payments Share-Based Payments
During the three months ended March 31, 2026, the Company granted 250,062 shares of time-based restricted stock and 160,796 shares of total return-based restricted stock with weighted average grant date fair values per share of $22.49 and $24.02, respectively. We recorded share-based compensation expense of $6.4 million and $5.0 million during the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, there was $6.7 million of total unrecognized share-based compensation costs, which will be recognized over a weighted average remaining contractual term of 2.6 years.
v3.26.1
Real Estate and Other Assets Held For Sale
 3 Months Ended
Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Real Estate and Other Assets Held For Sale Real Estate and Other Assets Held For Sale
The following table sets forth our assets held for sale, which are considered non-core:

March 31,
2026		December 31,
2025
Assets:
Land$— $3,454 
Buildings and tenant improvements— 42,123 
Less-accumulated depreciation— (25,468)
Net real estate assets— 20,109 
Accrued straight-line rents receivable— 2,083 
Deferred leasing costs, net— 1,006 
Prepaid expenses and other assets, net— 3 
Real estate and other assets, net, held for sale$— $23,201 
v3.26.1
Earnings Per Share and Per Unit
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Earnings Per Share and Per Unit Earnings Per Share and Per Unit
The following table sets forth the computation of basic and diluted earnings per share of the Company:

Three Months Ended
March 31,
20262025
Earnings per Common Share - basic:
Numerator:
Net income$33,365 $100,000 
Net (income) attributable to noncontrolling interests in the Operating Partnership
(579)(1,956)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (849)26 
Dividends on Preferred Stock(574)(621)
Net income available for common stockholders$31,363 $97,449 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
110,039 107,683 
Net income available for common stockholders$0.29 $0.91 
Earnings per Common Share - diluted:
Numerator:
Net income$33,365 $100,000 
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates(849)26 
Dividends on Preferred Stock(574)(621)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$31,942 $99,405 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
110,039 107,683 
Add:
Noncontrolling interests Common Units2,023 2,151 
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions
112,062 109,834 
Net income available for common stockholders$0.29 $0.91 
__________
(1)Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.
The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:

Three Months Ended
March 31,
20262025
Earnings per Common Unit - basic:
Numerator:
Net income$33,365 $100,000 
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates(849)26 
Distributions on Preferred Units(574)(621)
Net income available for common unitholders$31,942 $99,405 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
111,653 109,425 
Net income available for common unitholders$0.29 $0.91 
Earnings per Common Unit - diluted:
Numerator:
Net income$33,365 $100,000 
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates(849)26 
Distributions on Preferred Units(574)(621)
Net income available for common unitholders$31,942 $99,405 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
111,653 109,425 
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions
111,653 109,425 
Net income available for common unitholders$0.29 $0.91 
__________
(1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.
v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
Our principal business is the operation, acquisition and development of rental office properties. We evaluate our business by geographic location, which is why our primary geographic locations are included as reportable segments below. The operating results by geographic grouping are regularly reviewed by our chief operating decision maker for assessing performance and other purposes. Our chief executive officer is our chief operating decision maker. There are no material inter-segment transactions.
Our accounting policies of the segments are the same as those used in our Consolidated Financial Statements. All operations are within the United States.
The following tables summarize rental and other revenues, rental property and other expenses and net operating income for each of our reportable segments. Net operating income is the primary industry property-level performance metric used by our chief operating decision maker and is defined as rental and other revenues less rental property and other expenses. Our chief operating decision maker uses net operating income to help assess segment performance and decide how to allocate resources accordingly.

Three Months Ended
March 31,
20262025
Rental and other revenues:
Atlanta$36,514 $35,594 
Charlotte27,648 22,056 
Dallas2,657 — 
Nashville38,199 39,544 
Orlando14,541 14,296 
Raleigh51,604 44,494 
Richmond7,752 9,178 
Tampa22,376 22,712 
Rental and other revenues for reportable segments201,291 187,874 
Other12,743 12,509 
Total rental and other revenues214,034 200,383 
Rental property and other expenses:
Atlanta14,773 14,368 
Charlotte8,147 5,841 
Dallas833 — 
Nashville10,393 11,357 
Orlando5,107 5,542 
Raleigh14,197 11,733 
Richmond3,223 3,003 
Tampa8,199 8,609 
Rental property and other expenses for reportable segments64,872 60,453 
Other6,246 4,581 
Total rental property and other expenses71,118 65,034 
Net operating income:
Atlanta21,741 21,226 
Charlotte19,501 16,215 
Dallas1,824 — 
Nashville27,806 28,187 
Orlando9,434 8,754 
Raleigh37,407 32,761 
Richmond4,529 6,175 
Tampa14,177 14,103 
Net operating income for reportable segments136,419 127,421 
Other6,497 7,928 
Total net operating income$142,916 $135,349 
Three Months Ended
March 31,
20262025
Reconciliation to net income:
Depreciation and amortization$(77,537)$(71,405)
General and administrative expenses(13,434)(12,457)
Interest expense(41,696)(36,642)
Other income3,168 1,625 
Gains on disposition of property16,963 82,215 
Equity in earnings of unconsolidated affiliates2,985 1,315 
Net income$33,365 $100,000 
v3.26.1
Subsequent Events
 3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On April 22, 2026, the Company declared a cash dividend of $0.50 per share of Common Stock, which is payable on June 9, 2026 to stockholders of record as of May 18, 2026.

On April 22, 2026, we announced that the Company’s Board of Directors has authorized the repurchase of up to $250.0 million of outstanding shares of Common Stock under a new stock repurchase program. We anticipate funding any stock repurchases with proceeds from non-core asset sales, available cash and borrowings under our revolving credit facility. The Company may purchase shares of Common Stock from time to time in amounts and at prices determined by the Company in its discretion. Shares of Common Stock may be repurchased in the open market or in privately negotiated transactions (which may include block trades). If and when the Company repurchases Common Stock under this program, the Operating Partnership will repurchase an equal number of Common Units from the Company. The timing, manner, price and actual number of shares repurchased will be subject to a variety of factors, including price, market conditions, corporate and regulatory requirements, applicable SEC rules and other liquidity requirements and priorities. The Common Stock repurchase program does not have an expiration date, does not obligate the Company to repurchase any dollar amount or number of shares and may be suspended, modified or discontinued at any time without prior notice.
On April 23, 2026, the Granite Park Six joint venture obtained a secured loan for up to $100.0 million, with an interest rate of SOFR plus 225 basis points and a maturity date of April 2028 (but can be extended for one additional year at the joint venture’s option assuming no defaults have occurred). In connection with this loan, the Granite Park Six joint venture obtained an interest rate swap that effectively fixes the underlying SOFR rate at 3.68%. As of April 23, 2026, $85.3 million was drawn on this loan. The joint venture used the net proceeds from the secured loan to redeem the preferred equity that we contributed during the first quarter of 2026 and distributed the remainder equally to Granite and us.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
Description of Business and Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation

Our Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

The Company’s Consolidated Financial Statements include the Operating Partnership, wholly owned subsidiaries and those entities in which the Company has the controlling interest. The Operating Partnership’s Consolidated Financial Statements include wholly owned subsidiaries and those entities in which the Operating Partnership has the controlling interest. We consolidate joint venture investments, such as interests in partnerships and limited liability companies, when we control the major operating and financial policies of the investment through majority ownership, in our capacity as a general partner or managing member or through some other contractual right. In addition, we consolidate those entities deemed to be variable interest entities in which we are determined to be the primary beneficiary.

As of March 31, 2026, we are involved with eight entities we determined to be variable interest entities, three of which we are the primary beneficiary and are consolidated and five of which we are not the primary beneficiary and are not consolidated. In addition, during 2025, we acquired a building using a special purpose entity owned by a qualified intermediary to facilitate a potential Section 1031 reverse exchange under the Internal Revenue Code. To realize the tax deferral available under the Section 1031 exchange, we must complete the Section 1031 exchange, and take title to the to-be-exchanged building within 180 days of the acquisition date. We have determined that this entity is a variable interest entity of which we are the primary beneficiary and therefore, we consolidate this entity. As of March 31, 2026, this variable interest entity had total assets and liabilities of $205.5 million and $8.0 million, respectively.

All intercompany transactions and accounts have been eliminated.

In the opinion of management, the unaudited interim Consolidated Financial Statements and accompanying unaudited consolidated financial information contain all adjustments (including normal recurring accruals) necessary for a fair presentation of our financial position, results of operations and cash flows. We have condensed or omitted certain notes and other information from the interim Consolidated Financial Statements presented in this Quarterly Report as permitted by SEC
rules and regulations. These Consolidated Financial Statements should be read in conjunction with our 2025 Annual Report on Form 10-K.
Use of Estimates
Use of Estimates

The preparation of consolidated financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in our Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates.
Insurance
Insurance
We are primarily self-insured for health care claims for participating employees. To limit our exposure to significant claims, we have stop-loss coverage on a per claim and annual aggregate basis. We use all relevant information to determine our liabilities for claims, including actuarial estimates of claim liabilities. When determining our liabilities, we include claims for incurred losses, even if they are unreported.
Recently Issued Accounting Standards
Recently Issued Accounting Standards

The Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) that requires disaggregated disclosure of income statement expenses. Certain expense captions will be disaggregated into specified categories in disclosures within the Notes to Consolidated Financial Statements. The ASU is required to be adopted starting with our 2027 Annual Report on Form 10-K. We do not expect this adoption will have a material effect on our Consolidated Financial Statements.
v3.26.1
Variable Interest Entities (Tables)
 3 Months Ended
Mar. 31, 2026
HRLP Bloc 83, LP [Member]  
Variable Interest Entities [Line Items]  
Schedule of Variable Interest Entities
The following table sets forth the assets and liabilities of the Bloc 83 joint venture included on our Consolidated Balance Sheets:
March 31,
2026
Net real estate assets$174,528 
Cash and cash equivalents$8,755 
Restricted cash$5,504 
Accounts receivable$183 
Accrued straight-line rents receivable$275 
Deferred leasing costs, net$29,496 
Accounts payable, accrued expenses and other liabilities$7,983 
Terraces JV, LLC [Member]  
Variable Interest Entities [Line Items]  
Schedule of Variable Interest Entities
The following table sets forth the assets and liabilities of the Terraces joint venture included on our Consolidated Balance Sheets:
March 31,
2026
Net real estate assets$93,928 
Cash and cash equivalents$2,628 
Accrued straight-line rents receivable$384 
Deferred leasing costs, net$13,814 
Accounts payable, accrued expenses and other liabilities$4,355 
HRLP MTW, LLC [Member]  
Variable Interest Entities [Line Items]  
Schedule of Variable Interest Entities
The following table sets forth the assets and liabilities of the Midtown West joint venture included on our Consolidated Balance Sheets:
March 31,
2026		December 31,
2025
Net real estate assets$55,803 $56,299 
Cash and cash equivalents$1,675 $1,361 
Accounts receivable$257 $203 
Accrued straight-line rents receivable$5,210 $5,254 
Deferred leasing costs, net$2,081 $2,211 
Prepaid expenses and other assets, net$101 $124 
Mortgages and notes payable, net$43,986 $44,059 
Accounts payable, accrued expenses and other liabilities$1,318 $1,170 
v3.26.1
Intangible Assets and Below Market Lease Liabilities (Tables)
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Total Intangible Assets and Below Market Lease Liabilities
The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:

March 31,
2026		December 31,
2025
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)$465,597 $414,230 
Less accumulated amortization(176,466)(169,972)
$289,131 $244,258 
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities$37,646 $32,628 
Less accumulated amortization(17,853)(17,102)
$19,793 $15,526 
Amortization of Intangible Assets and Below Market Lease Liabilities
The following table sets forth amortization of intangible assets and below market lease liabilities:

Three Months Ended
March 31,
20262025
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)$10,953 $9,004 
Amortization of lease incentives (in rental and other revenues)$884 $645 
Amortization of acquisition-related above market lease intangible assets (in rental and other revenues)$845 $598 
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)$(884)$(752)
Scheduled Future Amortization of Intangible Assets and Below Market Lease Liabilities
The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:

Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization)Amortization of Lease Incentives (in Rental and Other Revenues)Amortization of Acquisition-Related Above Market Lease Intangible Assets (in Rental and Other Revenues)Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
April 1 through December 31, 2026$35,615 $2,063 $2,589 $(2,544)
202742,139 2,557 2,997 (3,080)
202837,189 2,353 2,802 (2,666)
202932,977 2,061 2,572 (2,289)
203028,888 1,747 2,246 (2,154)
Thereafter76,017 5,252 7,067 (7,060)
$252,825 $16,033 $20,273 $(19,793)
Weighted average remaining amortization periods as of March 31, 2026 (in years)7.37.67.77.6
Total Intangible Assets from Acquisition Activity
The following table sets forth the intangible assets acquired as a result of the acquisitions of Bloc83 in Raleigh and The Terraces in Dallas in the first quarter of 2026:

Acquisition-Related Above Market Lease Intangible Assets (amortized in Rental and Other Revenues)Acquisition-Related Intangible Assets (amortized in Depreciation and Amortization)Acquisition-Related Below Market Lease Liabilities (amortized in Rental and Other Revenues)
Amount recorded at acquisition$7,751 $37,190 $(5,152)
Weighted average remaining amortization periods as of March 31, 2026 (in years)8.26.96.7
v3.26.1
Mortgages and Notes Payable (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Consolidated Mortgages and Notes Payable
The following table sets forth our mortgages and notes payable:

March 31,
2026		December 31,
2025
Secured indebtedness$701,302 $703,409 
Unsecured indebtedness3,017,210 2,866,745 
Less-unamortized debt issuance costs(15,014)(15,976)
Total mortgages and notes payable, net$3,703,498 $3,554,178 
v3.26.1
Noncontrolling Interests (Tables) - Highwoods Properties, Inc. [Member]
 3 Months Ended
Mar. 31, 2026
Noncontrolling Interest [Line Items]  
Noncontrolling Interests in the Operating Partnership
The following table sets forth the Company’s noncontrolling interests in the Operating Partnership:

Three Months Ended
March 31,
20262025
Beginning noncontrolling interests in the Operating Partnership$52,777 $65,791 
Adjustment of noncontrolling interests in the Operating Partnership to fair value(8,434)(2,902)
Conversions of Common Units to Common Stock(700)— 
Redemptions of Common Units(24)(10)
Net income attributable to noncontrolling interests in the Operating Partnership579 1,956 
Distributions to noncontrolling interests in the Operating Partnership(1,009)(1,076)
Total noncontrolling interests in the Operating Partnership$43,189 $63,759 
Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership
The following table sets forth net income available for common stockholders and transfers from the Company’s noncontrolling interests in the Operating Partnership:

Three Months Ended
March 31,
20262025
Net income available for common stockholders$31,363 $97,449 
Increase in additional paid in capital from conversions of Common Units to Common Stock700 — 
Redemptions of Common Units24 10 
Change from net income available for common stockholders and transfers from noncontrolling interests$32,087 $97,459 
v3.26.1
Disclosure About Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements of Assets, Liabilities and Noncontrolling Interests
The following table sets forth our assets and liabilities and the Company’s noncontrolling interests in the Operating Partnership that are measured or disclosed at fair value within the fair value hierarchy:

Level 1Level 2
TotalQuoted Prices
in Active
Markets for Identical Assets or Liabilities		Significant Observable Inputs
Fair Value as of March 31, 2026:
Assets:
Mortgages and notes receivable, at fair value (1)
$12,231 $— $12,231 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
593 593 — 
Total Assets$12,824 $593 $12,231 
Noncontrolling Interests in the Operating Partnership$43,189 $43,189 $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$3,586,387 $— $3,586,387 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
593 593 — 
Total Liabilities
$3,586,980 $593 $3,586,387 
Fair Value as of December 31, 2025:
Assets:
Mortgages and notes receivable, at fair value (1)
$12,228 $— $12,228 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
1,396 1,396 — 
Total Assets$13,624 $1,396 $12,228 
Noncontrolling Interests in the Operating Partnership$52,777 $52,777 $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$3,471,003 $— $3,471,003 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
1,396 1,396 — 
Total Liabilities
$3,472,399 $1,396 $3,471,003 
__________
(1)    Amounts are not recorded at fair value on our Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025.
v3.26.1
Real Estate and Other Assets Held For Sale (Tables)
 3 Months Ended
Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Real Estate and Other Assets of the Properties Classified As Held For Sale
The following table sets forth our assets held for sale, which are considered non-core:

March 31,
2026		December 31,
2025
Assets:
Land$— $3,454 
Buildings and tenant improvements— 42,123 
Less-accumulated depreciation— (25,468)
Net real estate assets— 20,109 
Accrued straight-line rents receivable— 2,083 
Deferred leasing costs, net— 1,006 
Prepaid expenses and other assets, net— 3 
Real estate and other assets, net, held for sale$— $23,201 
v3.26.1
Earnings Per Share and Per Unit (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share and Per Unit Basic and Diluted [Line Items]  
Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share of the Company:

Three Months Ended
March 31,
20262025
Earnings per Common Share - basic:
Numerator:
Net income$33,365 $100,000 
Net (income) attributable to noncontrolling interests in the Operating Partnership
(579)(1,956)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (849)26 
Dividends on Preferred Stock(574)(621)
Net income available for common stockholders$31,363 $97,449 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
110,039 107,683 
Net income available for common stockholders$0.29 $0.91 
Earnings per Common Share - diluted:
Numerator:
Net income$33,365 $100,000 
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates(849)26 
Dividends on Preferred Stock(574)(621)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$31,942 $99,405 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
110,039 107,683 
Add:
Noncontrolling interests Common Units2,023 2,151 
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions
112,062 109,834 
Net income available for common stockholders$0.29 $0.91 
__________
(1)Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.
Highwoods Realty Limited Partnership [Member]  
Earnings Per Share and Per Unit Basic and Diluted [Line Items]  
Earnings Per Unit
The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:

Three Months Ended
March 31,
20262025
Earnings per Common Unit - basic:
Numerator:
Net income$33,365 $100,000 
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates(849)26 
Distributions on Preferred Units(574)(621)
Net income available for common unitholders$31,942 $99,405 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
111,653 109,425 
Net income available for common unitholders$0.29 $0.91 
Earnings per Common Unit - diluted:
Numerator:
Net income$33,365 $100,000 
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates(849)26 
Distributions on Preferred Units(574)(621)
Net income available for common unitholders$31,942 $99,405 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
111,653 109,425 
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions
111,653 109,425 
Net income available for common unitholders$0.29 $0.91 
__________
(1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.
v3.26.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated
The following tables summarize rental and other revenues, rental property and other expenses and net operating income for each of our reportable segments. Net operating income is the primary industry property-level performance metric used by our chief operating decision maker and is defined as rental and other revenues less rental property and other expenses. Our chief operating decision maker uses net operating income to help assess segment performance and decide how to allocate resources accordingly.

Three Months Ended
March 31,
20262025
Rental and other revenues:
Atlanta$36,514 $35,594 
Charlotte27,648 22,056 
Dallas2,657 — 
Nashville38,199 39,544 
Orlando14,541 14,296 
Raleigh51,604 44,494 
Richmond7,752 9,178 
Tampa22,376 22,712 
Rental and other revenues for reportable segments201,291 187,874 
Other12,743 12,509 
Total rental and other revenues214,034 200,383 
Segment, Reconciliation of Other Items from Segments to Consolidated
Rental property and other expenses:
Atlanta14,773 14,368 
Charlotte8,147 5,841 
Dallas833 — 
Nashville10,393 11,357 
Orlando5,107 5,542 
Raleigh14,197 11,733 
Richmond3,223 3,003 
Tampa8,199 8,609 
Rental property and other expenses for reportable segments64,872 60,453 
Other6,246 4,581 
Total rental property and other expenses71,118 65,034 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Net operating income:
Atlanta21,741 21,226 
Charlotte19,501 16,215 
Dallas1,824 — 
Nashville27,806 28,187 
Orlando9,434 8,754 
Raleigh37,407 32,761 
Richmond4,529 6,175 
Tampa14,177 14,103 
Net operating income for reportable segments136,419 127,421 
Other6,497 7,928 
Total net operating income$142,916 $135,349 
Three Months Ended
March 31,
20262025
Reconciliation to net income:
Depreciation and amortization$(77,537)$(71,405)
General and administrative expenses(13,434)(12,457)
Interest expense(41,696)(36,642)
Other income3,168 1,625 
Gains on disposition of property16,963 82,215 
Equity in earnings of unconsolidated affiliates2,985 1,315 
Net income$33,365 $100,000 
v3.26.1
Description of Business and Significant Accounting Policies (Details)
$ in Thousands, ft² in Millions
 3 Months Ended
Mar. 31, 2026
USD ($)
ft²
numberOfEntities
shares
Mar. 31, 2025
USD ($)
Dec. 31, 2025
USD ($)
Description of Business [Abstract]      
Rentable square feet of commercial real estate properties (in sq feet) | ft² 27.4    
Rentable square feet of commercial real estate office properties under development (in sq feet) | ft² 0.8    
Rentable square feet of potential office build (in sq feet) | ft² 3.5    
Net proceeds of Common Stock sold during the period $ (1,643) $ (1,762)  
Number of VIE entities | numberOfEntities 8    
Total VIE assets $ 6,596,901   $ 6,273,838
Total VIE liabilities 3,982,858   3,838,184
Self insurance liability $ 500    
Highwoods Properties, Inc. [Member]      
Description of Business [Abstract]      
Common Units of partnership owned by the Company (in shares) | shares 109,900,000    
Percentage of ownership of Common Units (in hundredths) 98.20%    
Common Units redeemed for a like number of shares of Common Stock | shares 25,855    
Common Units redeemed for cash | shares 950    
Highwoods Properties, Inc. [Member] | ATM Equity Offering [Member]      
Description of Business [Abstract]      
Number of Common Stock sold during the period (in shares) | shares 0    
Highwoods Properties, Inc. [Member] | ATM Equity Offering [Member] | Maximum [Member]      
Description of Business [Abstract]      
Net proceeds of Common Stock sold during the period $ 300,000    
Highwoods Realty Limited Partnership [Member]      
Description of Business [Abstract]      
Common Units of partnership not owned by the Company (in shares) | shares 2,000,000.0    
Total VIE assets $ 6,596,901   6,273,838
Total VIE liabilities $ 3,982,858   $ 3,838,184
Variable Interest Entity, Primary Beneficiary [Member]      
Description of Business [Abstract]      
Number of VIE entities | numberOfEntities 3    
Variable Interest Entity, Non Primary Beneficiary [Member]      
Description of Business [Abstract]      
Number of VIE entities | numberOfEntities 5    
6HUNDRED Acquisition VIE      
Description of Business [Abstract]      
VIE term of arrangements   180 days  
Total VIE assets $ 205,500    
Total VIE liabilities $ 8,000    
v3.26.1
Leases ASC 842 (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Lessor Disclosure [Abstract]    
Rental and other revenues related to operating lease payments $ 209.8 $ 196.5
Variable lease income $ 18.2 $ 16.9
Minimum [Member]    
Lessor Disclosure [Abstract]    
Operating leases, term of leases (in years) 3 years  
Maximum [Member]    
Lessor Disclosure [Abstract]    
Operating leases, term of leases (in years) 10 years  
v3.26.1
Investments in and Advances to Affiliates (Details)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2026
USD ($)
ft²
numberOfBuildings
Rate
Dec. 31, 2025
Schedule of Equity Method Investments [Line Items]    
Preferred Stock, monthly distribution rate percentage (in hundredths) 8.625% 8.625%
Rentable square feet of commercial real estate properties (in sq feet) | ft² 27,400,000  
Granite Park Six JV, LLC [Member]    
Schedule of Equity Method Investments [Line Items]    
Percentage of equity interest in joint venture (in hundredths) 50.00%  
Construction loan obtained by joint venture $ 115.0  
Interest rate basis SOFR  
Interest rate, basis spread (in hundredths) 3.94%  
Amount of loan funded to affiliate $ 16.2  
Preferred Stock, monthly distribution rate percentage (in hundredths) | Rate 8.00%  
GPI23 Springs JV, LLC [Member]    
Schedule of Equity Method Investments [Line Items]    
Percentage of equity interest in joint venture (in hundredths) 50.00%  
Construction loan obtained by joint venture $ 265.0  
Interest rate basis SOFR  
Interest rate, basis spread (in hundredths) 3.55%  
Amount of loan funded to affiliate $ 178.0  
Term of optional extension 2 years  
M+O JV, LLC [Member]    
Schedule of Equity Method Investments [Line Items]    
Percentage of equity interest in joint venture (in hundredths) 50.00%  
Fair value of debt assumed from acquisition $ 137.0  
Stated interest rate (in hundredths) | Rate 4.50%  
Effective interest rate (in hundredths) | Rate 5.30%  
Midtown East Tampa, LLC [Member]    
Schedule of Equity Method Investments [Line Items]    
Percentage of equity interest in joint venture (in hundredths) 50.00%  
Brand/HRLP 2827 Peachtree LLC [Member]    
Schedule of Equity Method Investments [Line Items]    
Percentage of equity interest in joint venture (in hundredths) 50.00%  
HRLP Bloc 83, LP [Member]    
Schedule of Equity Method Investments [Line Items]    
Number of buildings | numberOfBuildings 2  
Rentable square feet of commercial real estate properties (in sq feet) | ft² 492,000  
Percentage of equity interest in consolidated joint venture (in hundredths) 10.00%  
Total anticipated development costs $ 210.5  
Equity funded to acquire interest in joint venture 21.0  
North Carolina Investment Authority [Member]    
Schedule of Equity Method Investments [Line Items]    
Equity funded to acquire interest in joint venture $ 189.5  
Terraces JV, LLC [Member]    
Schedule of Equity Method Investments [Line Items]    
Preferred Stock, monthly distribution rate percentage (in hundredths) | Rate 5.75%  
Rentable square feet of commercial real estate properties (in sq feet) | ft² 173,000  
Percentage of equity interest in consolidated joint venture (in hundredths) 80.00%  
Total anticipated development costs $ 109.3  
Equity funded to acquire interest in joint venture 36.0  
Granite Properties [Member]    
Schedule of Equity Method Investments [Line Items]    
Equity funded to acquire interest in joint venture 9.0  
Granite Park Six JV, LLC [Member]    
Schedule of Equity Method Investments [Line Items]    
Preferred equity contributed to affiliate 19.3  
Terraces JV, LLC [Member]    
Schedule of Equity Method Investments [Line Items]    
Preferred equity contributed to affiliate $ 64.3  
HRLP MTW, LLC [Member]    
Schedule of Equity Method Investments [Line Items]    
Percentage of equity interest in consolidated joint venture (in hundredths) 80.00%  
Maximum [Member] | HRLP Bloc 83, LP [Member]    
Schedule of Equity Method Investments [Line Items]    
Percentage of equity interest in consolidated joint venture (in hundredths) 50.00%  
v3.26.1
Variable Interest Entities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Variable Interest Entities [Line Items]      
Investments in and advances to unconsolidated affiliates $ 495,261 $ 471,580  
Assets and liabilities of consolidated variable interest entity [Abstract]      
Net real estate assets 5,330,109 5,071,995  
Cash and cash equivalents 32,423 27,358 $ 20,107
Restricted cash 20,210 15,691 $ 19,407
Accounts receivable 29,790 28,263  
Accrued straight-line rents receivable 325,636 318,024  
Deferred leasing costs, net 289,131 244,258  
Prepaid expense and other assets, net 62,110 61,240  
Mortgages and notes payable 3,703,498 3,554,178  
Accounts payable, accrued expenses and other liabilities 279,360 284,006  
Granite Park Six JV, LLC [Member]      
Variable Interest Entities [Line Items]      
Risk of loss limited to carrying value 94,300    
GPI23 Springs JV, LLC [Member]      
Variable Interest Entities [Line Items]      
Risk of loss limited to carrying value 108,800    
M+O JV, LLC [Member]      
Variable Interest Entities [Line Items]      
Risk of loss limited to carrying value 177,800    
Midtown East Tampa, LLC [Member]      
Variable Interest Entities [Line Items]      
Risk of loss limited to carrying value 48,200    
Investments in and advances to unconsolidated affiliates 12,600    
Amount of loan funded to affiliate 35,600    
Brand/HRLP 2827 Peachtree LLC [Member]      
Variable Interest Entities [Line Items]      
Risk of loss limited to carrying value 61,800    
Investments in and advances to unconsolidated affiliates 11,900    
Amount of loan funded to affiliate 49,900    
HRLP Bloc 83, LP [Member]      
Assets and liabilities of consolidated variable interest entity [Abstract]      
Net real estate assets 174,528    
Cash and cash equivalents 8,755    
Restricted cash 5,504    
Accounts receivable 183    
Accrued straight-line rents receivable 275    
Deferred leasing costs, net 29,496    
Accounts payable, accrued expenses and other liabilities 7,983    
Terraces JV, LLC [Member]      
Assets and liabilities of consolidated variable interest entity [Abstract]      
Net real estate assets 93,928    
Cash and cash equivalents 2,628    
Accrued straight-line rents receivable 384    
Deferred leasing costs, net 13,814    
Accounts payable, accrued expenses and other liabilities 4,355    
HRLP MTW, LLC [Member]      
Assets and liabilities of consolidated variable interest entity [Abstract]      
Net real estate assets 55,803 56,299  
Cash and cash equivalents 1,675 1,361  
Accounts receivable 257 203  
Accrued straight-line rents receivable 5,210 5,254  
Deferred leasing costs, net 2,081 2,211  
Prepaid expense and other assets, net 101 124  
Mortgages and notes payable 43,986 44,059  
Accounts payable, accrued expenses and other liabilities $ 1,318 $ 1,170  
v3.26.1
Real Estate Assets (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
numberOfBuildings
Mar. 31, 2025
USD ($)
Dispositions [Abstract]    
Gains on disposition of property $ 16,963 $ 82,215
2026 Dispositions    
Dispositions [Abstract]    
Number of buildings sold | numberOfBuildings 3  
Sales price of real estate $ 42,300  
Gains on disposition of property $ 17,000  
v3.26.1
Intangible Assets and Below Market Lease Liabilities (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Assets:      
Deferred leasing costs, gross $ 465,597   $ 414,230
Deferred leasing costs, accumulated amortization (176,466)   (169,972)
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 289,131   244,258
Liabilities (in accounts payable, accrued expenses and other liabilities):      
Acquisition-related below market lease liabilities, gross 37,646   32,628
Acquisition-related below market lease liabilities, accumulated amortization (17,853)   (17,102)
Acquisition-related below market lease liabilities, net 19,793   $ 15,526
Amortization of intangible assets and below market lease liabilities [Abstract]      
Acquired intangible assets (amortized in rental and other revenue) 7,751    
Acquired intangible assets (amortized in depreciation and amortization) 37,190    
Assumed below market lease liabilities (amortized in rental and other revenue) (5,152)    
Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) [Member]      
Assets:      
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 252,825    
Amortization of intangible assets and below market lease liabilities [Abstract]      
Amortization of intangible assets 10,953 $ 9,004  
Lease Incentives (in Rental and Other Revenues) [Member]      
Assets:      
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 16,033    
Amortization of intangible assets and below market lease liabilities [Abstract]      
Amortization of intangible assets 884 645  
Acquisition-Related Above Market Lease Intangible Assets (in Rental and Other Revenues) [Member]      
Assets:      
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 20,273    
Amortization of intangible assets and below market lease liabilities [Abstract]      
Amortization of intangible assets 845 598  
Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues) [Member]      
Liabilities (in accounts payable, accrued expenses and other liabilities):      
Acquisition-related below market lease liabilities, net 19,793    
Amortization of intangible assets and below market lease liabilities [Abstract]      
Amortization of acquisition-related below market lease liabilities $ (884) $ (752)  
v3.26.1
Intangible Assets and Below Market Lease Liabilities - Scheduled Future Amortization (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Scheduled future amortization of intangible assets [Abstract]    
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 289,131 $ 244,258
Scheduled future amortization of below market lease liabilities [Abstract]    
Acquisition-related below market lease liabilities, net (19,793) $ (15,526)
Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
April 1 through December 31, 2026 35,615  
2027 42,139  
2028 37,189  
2029 32,977  
2030 28,888  
Thereafter 76,017  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 252,825  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived intangible assets, average useful life (in years) 7 years 3 months 18 days  
Lease Incentives (in Rental and Other Revenues) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
April 1 through December 31, 2026 $ 2,063  
2027 2,557  
2028 2,353  
2029 2,061  
2030 1,747  
Thereafter 5,252  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 16,033  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived intangible assets, average useful life (in years) 7 years 7 months 6 days  
Acquisition-Related Above Market Lease Intangible Assets (in Rental and Other Revenues) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
April 1 through December 31, 2026 $ 2,589  
2027 2,997  
2028 2,802  
2029 2,572  
2030 2,246  
Thereafter 7,067  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 20,273  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived intangible assets, average useful life (in years) 7 years 8 months 12 days  
Acquired finite-lived intangible assets, weighted average useful life (in years) 8 years 2 months 12 days  
Acquisition-Related Intangible Assets (Amortized in Depreciation and Amortization) [Member]    
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Acquired finite-lived intangible assets, weighted average useful life (in years) 6 years 10 months 24 days  
Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues) [Member]    
Scheduled future amortization of below market lease liabilities [Abstract]    
April 1 through December 31, 2026 $ (2,544)  
2027 (3,080)  
2028 (2,666)  
2029 (2,289)  
2030 (2,154)  
Thereafter (7,060)  
Acquisition-related below market lease liabilities, net $ (19,793)  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived below market lease liabilities, average useful life (in years) 7 years 7 months 6 days  
Acquired below market lease liability, weighted average remaining amortization period (in years) 6 years 8 months 12 days  
v3.26.1
Mortgages and Notes Payable (Details)
 3 Months Ended
Mar. 31, 2026
USD ($)
extension
Apr. 21, 2026
USD ($)
Dec. 31, 2025
USD ($)
Debt Instrument [Line Items]      
Mortgages and notes payable $ 3,703,498,000   $ 3,554,178,000
Unamortized debt issuance costs $ (15,014,000)   (15,976,000)
Maximum liquidity requirements 1 year    
Revolving Credit Facility [Member]      
Debt Instrument [Line Items]      
Maximum borrowing capacity on credit facility $ 750,000,000.0    
Number of additional extensions | extension 2    
Term of optional extension 6 months    
Temporary reduction in interest rate due to sustainability goals (in hundredths) 0.025%    
Amount outstanding on revolving credit facility $ 175,000,000.0    
Outstanding letters of credit on revolving credit facility 100,000    
Unused borrowing capacity on revolving credit facility 574,900,000    
3.875% (4.038% effective rate) Notes due 2027      
Debt Instrument [Line Items]      
Principal amount of debt 300,000,000.0    
Secured indebtedness [Member]      
Debt Instrument [Line Items]      
Mortgages and notes payable 701,302,000   703,409,000
Aggregate undepreciated book value of secured real estate assets 1,278,000,000    
Unsecured indebtedness [Member]      
Debt Instrument [Line Items]      
Mortgages and notes payable $ 3,017,210,000   $ 2,866,745,000
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Revolving Credit Facility [Member]      
Debt Instrument [Line Items]      
Facility interest rate basis SOFR    
Interest rate, basis spread (in hundredths) 0.85%    
Annual facility fee (in hundredths) 0.20%    
SOFR Related Spread Adjustment [Member] | Revolving Credit Facility [Member]      
Debt Instrument [Line Items]      
Interest rate, basis spread (in hundredths) 0.10%    
Subsequent Event [Member] | Revolving Credit Facility [Member]      
Debt Instrument [Line Items]      
Amount outstanding on revolving credit facility   $ 175,000,000.0  
Outstanding letters of credit on revolving credit facility   100,000  
Unused borrowing capacity on revolving credit facility   $ 574,900,000  
v3.26.1
Noncontrolling Interests (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Noncontrolling Interests in the Operating Partnership [Roll Forward]    
Beginning noncontrolling interests in the Operating Partnership $ 52,777  
Adjustment of noncontrolling interests in the Operating Partnership to fair value (8,434) $ (2,902)
Conversions of Common Units to Common Stock (700) 0
Redemptions of Common Units (24) (10)
Net income attributable to noncontrolling interests in the Operating Partnership 579 1,956
Distributions to noncontrolling interests in the Operating Partnership (1,009) (1,076)
Total noncontrolling interests in the Operating Partnership 43,189  
Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership [Abstract]    
Net income available for common stockholders 31,363 97,449
Highwoods Properties, Inc. [Member]    
Noncontrolling Interests in the Operating Partnership [Roll Forward]    
Beginning noncontrolling interests in the Operating Partnership 52,777 65,791
Adjustment of noncontrolling interests in the Operating Partnership to fair value (8,434) (2,902)
Conversions of Common Units to Common Stock (700) 0
Redemptions of Common Units (24) (10)
Net income attributable to noncontrolling interests in the Operating Partnership 579 1,956
Distributions to noncontrolling interests in the Operating Partnership (1,009) (1,076)
Total noncontrolling interests in the Operating Partnership 43,189 63,759
Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership [Abstract]    
Net income available for common stockholders 31,363 97,449
Increase in additional paid in capital from conversions of Common Units to Common Stock 700 0
Redemptions of Common Units 24 10
Change from net income available for common stockholders and transfers from noncontrolling interests $ 32,087 $ 97,459
Midtown West Joint Venture [Member]    
Noncontrolling Interests in Consolidated Affiliates [Abstract]    
Consolidated joint venture, partner's interest (in hundredths) 20.00%  
HRLP Bloc 83, LP [Member]    
Noncontrolling Interests in Consolidated Affiliates [Abstract]    
Consolidated joint venture, partner's interest (in hundredths) 90.00%  
Terraces JV, LLC [Member]    
Noncontrolling Interests in Consolidated Affiliates [Abstract]    
Consolidated joint venture, partner's interest (in hundredths) 20.00%  
v3.26.1
Disclosure About Fair Value of Financial Instruments - Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets:    
Mortgages and notes receivable, at fair value $ 12,231 $ 12,228
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 593 1,396
Total Assets 12,824 13,624
Liabilities:    
Mortgages and notes payable, net, at fair value 3,586,387 3,471,003
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 593 1,396
Total Liabilities 3,586,980 3,472,399
Level 1 [Member]    
Assets:    
Mortgages and notes receivable, at fair value 0 0
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 593 1,396
Total Assets 593 1,396
Liabilities:    
Mortgages and notes payable, net, at fair value 0 0
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 593 1,396
Total Liabilities 593 1,396
Level 2 [Member]    
Assets:    
Mortgages and notes receivable, at fair value 12,231 12,228
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 0 0
Total Assets 12,231 12,228
Liabilities:    
Mortgages and notes payable, net, at fair value 3,586,387 3,471,003
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 0 0
Total Liabilities 3,586,387 3,471,003
Highwoods Properties, Inc. [Member]    
Assets:    
Noncontrolling Interests in the Operating Partnership 43,189 52,777
Highwoods Properties, Inc. [Member] | Level 1 [Member]    
Assets:    
Noncontrolling Interests in the Operating Partnership 43,189 52,777
Highwoods Properties, Inc. [Member] | Level 2 [Member]    
Assets:    
Noncontrolling Interests in the Operating Partnership $ 0 $ 0
v3.26.1
Share-Based Payments (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation expense $ 6,450 $ 4,967
Total unrecognized share-based compensation costs $ 6,700  
Weighted average remaining contractual term for recognition of unrecognized share-based compensation costs (in years) 2 years 7 months 6 days  
Highwoods Properties, Inc. [Member] | Time-Based Restricted Stock [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Restricted stock shares granted (in shares) 250,062  
Weighted average grant date fair value of each restricted stock share granted (in dollars per share) $ 22.49  
Highwoods Properties, Inc. [Member] | Total Return-Based Restricted Stock [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Restricted stock shares granted (in shares) 160,796  
Weighted average grant date fair value of each restricted stock share granted (in dollars per share) $ 24.02  
v3.26.1
Real Estate and Other Assets Held For Sale (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Real Estate and Other Assets Held For Sale [Abstract]    
Land $ 0 $ 3,454
Buildings and tenant improvements 0 42,123
Less-accumulated depreciation 0 (25,468)
Net real estate assets 0 20,109
Accrued straight-line rents receivable 0 2,083
Deferred leasing costs, net 0 1,006
Prepaid expenses and other assets, net 0 3
Real estate and other assets, net, held for sale $ 0 $ 23,201
v3.26.1
Earnings Per Share and Per Unit (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Earnings per Common Share and Per Unit - basic: [Abstract]    
Net income $ 33,365 $ 100,000
Net (income) attributable to noncontrolling interests in the Operating Partnership (579) (1,956)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (849) 26
Dividends on Preferred Stock (574) (621)
Net income available for common stockholders $ 31,363 $ 97,449
Denominator:    
Denominator for basic earnings per Common Share - weighted average shares (in shares) 110,039 107,683
Earnings per Common Share - basic:    
Net income available for common stockholders (in dollars per share) $ 0.29 $ 0.91
Earnings per Common Share and Per Unit - diluted: [Abstract]    
Net income $ 33,365 $ 100,000
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (849) 26
Dividends on Preferred Stock (574) (621)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership $ 31,942 $ 99,405
Denominator:    
Denominator for basic earnings per Common Share - weighted average shares (in shares) 110,039 107,683
Noncontrolling interests Common Units (in shares) 2,023 2,151
Denominator for diluted earnings per Common Share - adjusted weighted average shares and assumed conversions (in shares) 112,062 109,834
Earnings per Common Share - diluted:    
Net income available for common stockholders (in dollars per share) $ 0.29 $ 0.91
Highwoods Realty Limited Partnership [Member]    
Earnings per Common Share and Per Unit - basic: [Abstract]    
Net income $ 33,365 $ 100,000
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (849) 26
Distributions on Preferred Units (574) (621)
Net income available for common unitholders $ 31,942 $ 99,405
Denominator:    
Denominator for basic earnings per Common Unit - weighted average units (in shares) 111,653 109,425
Earnings per Common Unit - basic:    
Net income available for common unitholders (in dollars per share) $ 0.29 $ 0.91
Earnings per Common Share and Per Unit - diluted: [Abstract]    
Net income $ 33,365 $ 100,000
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (849) 26
Distributions on Preferred Units (574) (621)
Net income available for common unitholders $ 31,942 $ 99,405
Denominator:    
Denominator for basic earnings per Common Unit - weighted average units (in shares) 111,653 109,425
Earnings per Common Unit - diluted:    
Net income available for common unitholders (in dollars per share) $ 0.29 $ 0.91
v3.26.1
Segment Information (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
numberOfSegments
Mar. 31, 2025
USD ($)
Segment Reporting Information [Line Items]    
Total rental and other revenues $ 214,034 $ 200,383
Total rental property and other expenses 71,118 65,034
Total net operating income 142,916 135,349
Reconciliation to net income:    
Depreciation and amortization (77,537) (71,405)
General and administrative (13,434) (12,457)
Interest expense (41,696) (36,642)
Other income 3,168 1,625
Gains on disposition of property 16,963 82,215
Equity in earnings of unconsolidated affiliates 2,985 1,315
Net income $ 33,365 100,000
Number of reportable segments | numberOfSegments 8  
Total Reportable Segment [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues $ 201,291 187,874
Total rental property and other expenses 64,872 60,453
Total net operating income 136,419 127,421
Atlanta, GA [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 36,514 35,594
Total rental property and other expenses 14,773 14,368
Total net operating income 21,741 21,226
Charlotte, NC [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 27,648 22,056
Total rental property and other expenses 8,147 5,841
Total net operating income 19,501 16,215
Dallas, TX    
Segment Reporting Information [Line Items]    
Total rental and other revenues 2,657 0
Total rental property and other expenses 833 0
Total net operating income 1,824 0
Nashville, TN [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 38,199 39,544
Total rental property and other expenses 10,393 11,357
Total net operating income 27,806 28,187
Orlando, FL [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 14,541 14,296
Total rental property and other expenses 5,107 5,542
Total net operating income 9,434 8,754
Raleigh, NC [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 51,604 44,494
Total rental property and other expenses 14,197 11,733
Total net operating income 37,407 32,761
Richmond, VA [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 7,752 9,178
Total rental property and other expenses 3,223 3,003
Total net operating income 4,529 6,175
Tampa, FL [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 22,376 22,712
Total rental property and other expenses 8,199 8,609
Total net operating income 14,177 14,103
Other Segment [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 12,743 12,509
Total rental property and other expenses 6,246 4,581
Total net operating income $ 6,497 $ 7,928
v3.26.1
Subsequent Events (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Apr. 23, 2026
Apr. 22, 2026
Mar. 31, 2026
Mar. 31, 2025
Granite Park Six JV, LLC [Member]        
Subsequent Event [Line Items]        
Interest rate basis     SOFR  
Interest rate, basis spread (in hundredths)     3.94%  
Highwoods Properties, Inc. [Member]        
Subsequent Event [Line Items]        
Dividends declared per share of Common Stock (in dollars per share)     $ 0.50 $ 0.50
Subsequent Event [Member] | Granite Park Six JV, LLC [Member]        
Subsequent Event [Line Items]        
Interest rate basis SOFR      
Interest rate, basis spread (in hundredths) 2.25%      
Term of optional extension 1 year      
Underlying SOFR rate fixed by interest rate swap (in hundredths) 3.68%      
Outstanding balance of debt $ 85.3      
Subsequent Event [Member] | Maximum [Member] | Granite Park Six JV, LLC [Member]        
Subsequent Event [Line Items]        
Principal amount of debt $ 100.0      
Subsequent Event [Member] | Highwoods Properties, Inc. [Member]        
Subsequent Event [Line Items]        
Dividends declared per share of Common Stock (in dollars per share)   $ 0.50    
Subsequent Event [Member] | Highwoods Properties, Inc. [Member] | Maximum [Member] | Share Repurchase Plan [Member]        
Subsequent Event [Line Items]        
Share Repurchase Program, authorized amount   $ 250.0