HIGHWOODS PROPERTIES, INC., 10-Q filed on 10/25/2022
Quarterly Report
v3.22.2.2
Cover Page - shares
 9 Months Ended
Sep. 30, 2022
Oct. 18, 2022
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2022  
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, $.01 par value, of Highwoods Properties, Inc.  
Trading Symbol HIW  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   105,197,658
Entity Central Index Key 0000921082  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2022  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Highwoods Realty Limited Partnership    
Entity Information [Line Items]    
Entity Registrant Name HIGHWOODS REALTY LIMITED PARTNERSHIP  
Entity Incorporation, State or Country Code NC  
Entity File Number 000-21731  
Entity Tax Identification Number 56-1869557  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0000941713  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2022  
Document Fiscal Period Focus Q3  
Amendment Flag false  
v3.22.2.2
HPI - Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Real estate assets, at cost:    
Land $ 548,720 $ 549,228
Buildings and tenant improvements 5,867,137 5,718,169
Development in-process 29,774 6,890
Land held for development 231,911 215,257
Total real estate assets 6,677,542 6,489,544
Less-accumulated depreciation (1,562,374) (1,457,511)
Net real estate assets 5,115,168 5,032,033
Real estate and other assets, net, held for sale 0 3,518
Cash and cash equivalents 23,055 23,152
Restricted cash 6,038 8,046
Accounts receivable 24,589 14,002
Mortgages and notes receivable 1,103 1,227
Accrued straight-line rents receivable 284,515 268,324
Investments in and advances to unconsolidated affiliates 88,974 7,383
Deferred leasing costs, net of accumulated amortization of $157,205 and $143,111, respectively 255,831 258,902
Prepaid expenses and other assets, net of accumulated depreciation of $20,753 and $21,408, respectively 71,278 78,551
Total Assets 5,870,551 5,695,138
Liabilities, Noncontrolling Interests in the Operating Partnership and Equity:    
Mortgages and notes payable, net 2,973,369 2,788,915
Accounts payable, accrued expenses and other liabilities 307,294 294,976
Total Liabilities 3,280,663 3,083,891
Commitments and contingencies
Noncontrolling interests in the Operating Partnership 64,219 111,689
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), 28,821 shares issued and outstanding 28,821 28,821
Common Stock, $.01 par value, 200,000,000 authorized shares; 105,197,658 and 104,892,780 shares issued and outstanding, respectively 1,052 1,049
Additional paid-in capital 3,083,229 3,027,861
Distributions in excess of net income available for common stockholders (608,181) (579,616)
Accumulated other comprehensive loss (1,137) (973)
Total Stockholders’ Equity 2,503,784 2,477,142
Noncontrolling interests in consolidated affiliates 21,885 22,416
Total Equity/Capital 2,525,669 2,499,558
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital $ 5,870,551 $ 5,695,138
v3.22.2.2
HPI - Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Assets:    
Deferred leasing costs, accumulated amortization $ 157,205 $ 143,111
Prepaid expenses and other assets, accumulated depreciation $ 20,753 $ 21,408
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) 28,821 28,821
Series A Preferred Stock, shares outstanding (in shares) 28,821 28,821
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) 105,197,658 104,892,780
Common Stock, shares outstanding (in shares) 105,197,658 104,892,780
v3.22.2.2
HRLP - Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Real estate assets, at cost:    
Land $ 548,720 $ 549,228
Buildings and tenant improvements 5,867,137 5,718,169
Development in-process 29,774 6,890
Land held for development 231,911 215,257
Total real estate assets 6,677,542 6,489,544
Less-accumulated depreciation (1,562,374) (1,457,511)
Net real estate assets 5,115,168 5,032,033
Real estate and other assets, net, held for sale 0 3,518
Cash and cash equivalents 23,055 23,152
Restricted cash 6,038 8,046
Accounts receivable 24,589 14,002
Mortgages and notes receivable 1,103 1,227
Accrued straight-line rents receivable 284,515 268,324
Investments in and advances to unconsolidated affiliates 88,974 7,383
Deferred leasing costs, net of accumulated amortization of $157,205 and $143,111, respectively 255,831 258,902
Prepaid expenses and other assets, net of accumulated depreciation of $20,753 and $21,408, respectively 71,278 78,551
Total Assets 5,870,551 5,695,138
Liabilities, Redeemable Operating Partnership Units and Capital:    
Mortgages and notes payable, net 2,973,369 2,788,915
Accounts payable, accrued expenses and other liabilities 307,294 294,976
Total Liabilities 3,280,663 3,083,891
Commitments and contingencies
Capital:    
Accumulated other comprehensive loss (1,137) (973)
Noncontrolling interests in consolidated affiliates 21,885 22,416
Total Equity/Capital 2,525,669 2,499,558
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital 5,870,551 5,695,138
Highwoods Realty Limited Partnership    
Real estate assets, at cost:    
Land 548,720 549,228
Buildings and tenant improvements 5,867,137 5,718,169
Development in-process 29,774 6,890
Land held for development 231,911 215,257
Total real estate assets 6,677,542 6,489,544
Less-accumulated depreciation (1,562,374) (1,457,511)
Net real estate assets 5,115,168 5,032,033
Real estate and other assets, net, held for sale 0 3,518
Cash and cash equivalents 23,055 23,152
Restricted cash 6,038 8,046
Accounts receivable 24,589 14,002
Mortgages and notes receivable 1,103 1,227
Accrued straight-line rents receivable 284,515 268,324
Investments in and advances to unconsolidated affiliates 88,974 7,383
Deferred leasing costs, net of accumulated amortization of $157,205 and $143,111, respectively 255,831 258,902
Prepaid expenses and other assets, net of accumulated depreciation of $20,753 and $21,408, respectively 71,278 78,551
Total Assets 5,870,551 5,695,138
Liabilities, Redeemable Operating Partnership Units and Capital:    
Mortgages and notes payable, net 2,973,369 2,788,915
Accounts payable, accrued expenses and other liabilities 307,294 294,976
Total Liabilities 3,280,663 3,083,891
Commitments and contingencies
Redeemable Operating Partnership Units:    
Common Units, 2,382,009 and 2,504,805 outstanding, respectively 64,219 111,689
Series A Preferred Units (liquidation preference $1,000 per unit), 28,821 units issued and outstanding 28,821 28,821
Total Redeemable Operating Partnership Units 93,040 140,510
Capital:    
General partner Common Units, 1,071,709 and 1,069,888 outstanding, respectively 24,759 24,492
Limited partner Common Units, 103,717,140 and 103,414,083 outstanding, respectively 2,451,341 2,424,802
Accumulated other comprehensive loss (1,137) (973)
Noncontrolling interests in consolidated affiliates 21,885 22,416
Total Equity/Capital 2,496,848 2,470,737
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital $ 5,870,551 $ 5,695,138
v3.22.2.2
HRLP - Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Assets:    
Deferred leasing costs, accumulated amortization $ 157,205 $ 143,111
Prepaid expenses and other assets, accumulated depreciation 20,753 21,408
Highwoods Realty Limited Partnership    
Assets:    
Deferred leasing costs, accumulated amortization 157,205 143,111
Prepaid expenses and other assets, accumulated depreciation $ 20,753 $ 21,408
Redeemable Operating Partnership Units: [Abstract]    
Redeemable Common Units outstanding (in shares) 2,382,009 2,504,805
Series A Preferred Units, liquidation preference (in dollars per share) $ 1,000 $ 1,000
Series A Preferred Units, issued (in shares) 28,821 28,821
Series A Preferred Units, outstanding (in shares) 28,821 28,821
Common Units: [Abstract]    
General partners' capital account, units outstanding (in shares) 1,071,709 1,069,888
Limited partners' capital account, units outstanding (in shares) 103,717,140 103,414,083
v3.22.2.2
HPI - Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Rental and other revenues $ 206,997 $ 195,495 $ 617,216 $ 564,802
Operating expenses:        
Rental property and other expenses 66,334 60,567 190,125 172,982
Depreciation and amortization 73,057 66,547 212,466 189,423
Impairments of real estate assets 1,515 0 36,515 0
General and administrative 9,586 10,350 32,733 30,409
Total operating expenses 150,492 137,464 471,839 392,814
Interest expense 26,392 21,986 75,812 60,755
Other income 138 424 621 1,068
Gains on disposition of property 9,402 38,572 63,546 80,371
Equity in earnings of unconsolidated affiliates 457 546 1,083 1,614
Net income 40,110 75,587 134,815 194,286
Net (income) attributable to noncontrolling interests in the Operating Partnership (881) (1,967) (3,049) (5,084)
Net (income) attributable to noncontrolling interests in consolidated affiliates (357) (894) (880) (1,469)
Dividends on Preferred Stock (621) (621) (1,864) (1,864)
Net income available for common stockholders $ 38,251 $ 72,105 $ 129,022 $ 185,869
Earnings per Common Share – basic:        
Net income available for common stockholders (in dollars per share) $ 0.36 $ 0.69 $ 1.23 $ 1.79
Weighted average Common Shares outstanding - basic (in shares) 105,184 104,277 105,094 104,117
Earnings per Common Share - diluted:        
Net income available for common stockholders (in dollars per share) $ 0.36 $ 0.69 $ 1.23 $ 1.79
Weighted average Common Shares outstanding - diluted (in shares) 107,601 107,139 107,570 106,972
v3.22.2.2
HRLP - Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Rental and other revenues $ 206,997 $ 195,495 $ 617,216 $ 564,802
Operating expenses:        
Rental property and other expenses 66,334 60,567 190,125 172,982
Depreciation and amortization 73,057 66,547 212,466 189,423
Impairments of real estate assets 1,515 0 36,515 0
General and administrative 9,586 10,350 32,733 30,409
Total operating expenses 150,492 137,464 471,839 392,814
Interest expense 26,392 21,986 75,812 60,755
Other income 138 424 621 1,068
Gains on disposition of property 9,402 38,572 63,546 80,371
Equity in earnings of unconsolidated affiliates 457 546 1,083 1,614
Net income 40,110 75,587 134,815 194,286
Net (income) attributable to noncontrolling interests in consolidated affiliates (357) (894) (880) (1,469)
Highwoods Realty Limited Partnership        
Rental and other revenues 206,997 195,495 617,216 564,802
Operating expenses:        
Rental property and other expenses 66,334 60,567 190,125 172,982
Depreciation and amortization 73,057 66,547 212,466 189,423
Impairments of real estate assets 1,515 0 36,515 0
General and administrative 9,586 10,350 32,733 30,409
Total operating expenses 150,492 137,464 471,839 392,814
Interest expense 26,392 21,986 75,812 60,755
Other income 138 424 621 1,068
Gains on disposition of property 9,402 38,572 63,546 80,371
Equity in earnings of unconsolidated affiliates 457 546 1,083 1,614
Net income 40,110 75,587 134,815 194,286
Net (income) attributable to noncontrolling interests in consolidated affiliates (357) (894) (880) (1,469)
Distributions on Preferred Units (621) (621) (1,864) (1,864)
Net income available for common unitholders $ 39,132 $ 74,072 $ 132,071 $ 190,953
Earnings per Common Unit - basic:        
Net income available for common unitholders (in dollars per share) $ 0.37 $ 0.69 $ 1.23 $ 1.79
Weighted average Common Units outstanding - basic (in shares) 107,192 106,705 107,154 106,546
Earnings per Common Unit - diluted:        
Net income available for common unitholders (in dollars per share) $ 0.37 $ 0.69 $ 1.23 $ 1.79
Weighted average Common Units outstanding - diluted (in shares) 107,192 106,730 107,161 106,563
v3.22.2.2
HPI - Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Comprehensive income:        
Net income $ 40,110 $ 75,587 $ 134,815 $ 194,286
Other comprehensive income/(loss):        
Unrealized losses on cash flow hedges 0 (6) 0 (17)
Amortization of cash flow hedges (75) 129 (164) 377
Total other comprehensive income/(loss) (75) 123 (164) 360
Total comprehensive income 40,035 75,710 134,651 194,646
Less-comprehensive (income) attributable to noncontrolling interests (1,238) (2,861) (3,929) (6,553)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders $ 38,797 $ 72,849 $ 130,722 $ 188,093
v3.22.2.2
HRLP - Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Comprehensive income:        
Net income $ 40,110 $ 75,587 $ 134,815 $ 194,286
Other comprehensive income/(loss):        
Unrealized losses on cash flow hedges 0 (6) 0 (17)
Amortization of cash flow hedges (75) 129 (164) 377
Total other comprehensive income/(loss) (75) 123 (164) 360
Total comprehensive income 40,035 75,710 134,651 194,646
Less-comprehensive (income) attributable to noncontrolling interests (1,238) (2,861) (3,929) (6,553)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders 38,797 72,849 130,722 188,093
Highwoods Realty Limited Partnership        
Comprehensive income:        
Net income 40,110 75,587 134,815 194,286
Other comprehensive income/(loss):        
Unrealized losses on cash flow hedges 0 (6) 0 (17)
Amortization of cash flow hedges (75) 129 (164) 377
Total other comprehensive income/(loss) (75) 123 (164) 360
Total comprehensive income 40,035 75,710 134,651 194,646
Less-comprehensive (income) attributable to noncontrolling interests (357) (894) (880) (1,469)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders $ 39,678 $ 74,816 $ 133,771 $ 193,177
v3.22.2.2
HPI - Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
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, 2020   103,921,546          
Balance at Dec. 31, 2020 $ 2,358,170 $ 1,039 $ 28,826 $ 2,993,946 $ (1,462) $ 22,046 $ (686,225)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuances of Common Stock, net of issuance costs and tax withholdings - shares   277,441          
Issuances of Common Stock, net of issuance costs and tax withholdings 13,405 $ 3   13,402      
Conversions of Common Units to Common Stock - Shares   6,238          
Conversions of Common Units to Common Stock 278     278      
Dividends on Common Stock (151,898)           (151,898)
Dividends on Preferred Stock (1,864)           (1,864)
Adjustment of noncontrolling interests in the Operating Partnership to fair value (11,072)     (11,072)      
Distributions to noncontrolling interests in consolidated affiliates (1,342)         (1,342)  
Issuances of restricted stock - shares   184,584          
Issuances of restricted stock 0            
Redemptions/repurchases of Preferred Stock (5)   (5)        
Share-based compensation expense, net of forfeitures - shares   (6,747)          
Share-based compensation expense, net of forfeitures 6,751 $ 2   6,749      
Net (income) attributable to noncontrolling interests in the Operating Partnership (5,084)           (5,084)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0         1,469 (1,469)
Comprehensive income:              
Net income 194,286           194,286
Other comprehensive income/(loss) 360       360    
Total comprehensive income 194,646            
Balance (in shares) at Sep. 30, 2021   104,383,062          
Balance at Sep. 30, 2021 2,401,985 $ 1,044 28,821 3,003,303 (1,102) 22,173 (652,254)
Balance (in shares) at Jun. 30, 2021   104,209,513          
Balance at Jun. 30, 2021 2,367,643 $ 1,042 28,821 2,989,405 (1,225) 21,839 (672,239)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuances of Common Stock, net of issuance costs and tax withholdings - shares   168,311          
Issuances of Common Stock, net of issuance costs and tax withholdings 7,508 $ 2   7,506      
Conversions of Common Units to Common Stock - Shares   5,238          
Conversions of Common Units to Common Stock 234     234      
Dividends on Common Stock (52,120)           (52,120)
Dividends on Preferred Stock (621)           (621)
Adjustment of noncontrolling interests in the Operating Partnership to fair value 4,262     4,262      
Distributions to noncontrolling interests in consolidated affiliates (560)         (560)  
Share-based compensation expense, net of forfeitures - shares   0          
Share-based compensation expense, net of forfeitures 1,896 $ 0   1,896      
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,967)           (1,967)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0         894 (894)
Comprehensive income:              
Net income 75,587           75,587
Other comprehensive income/(loss) 123       123    
Total comprehensive income 75,710            
Balance (in shares) at Sep. 30, 2021   104,383,062          
Balance at Sep. 30, 2021 $ 2,401,985 $ 1,044 28,821 3,003,303 (1,102) 22,173 (652,254)
Balance (in shares) at Dec. 31, 2021 104,892,780 104,892,780          
Balance at Dec. 31, 2021 $ 2,499,558 $ 1,049 28,821 3,027,861 (973) 22,416 (579,616)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuances of Common Stock, net of issuance costs and tax withholdings - shares   92,941          
Issuances of Common Stock, net of issuance costs and tax withholdings 4,797 $ 1   4,796      
Conversions of Common Units to Common Stock - Shares   30,909          
Conversions of Common Units to Common Stock 1,251     1,251      
Dividends on Common Stock (157,587)           (157,587)
Dividends on Preferred Stock (1,864)           (1,864)
Adjustment of noncontrolling interests in the Operating Partnership to fair value 42,480     42,480      
Distributions to noncontrolling interests in consolidated affiliates (1,411)         (1,411)  
Issuances of restricted stock - shares   181,807          
Issuances of restricted stock 0            
Share-based compensation expense, net of forfeitures - shares   (779)          
Share-based compensation expense, net of forfeitures 6,843 $ 2   6,841      
Net (income) attributable to noncontrolling interests in the Operating Partnership (3,049)           (3,049)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0         880 (880)
Comprehensive income:              
Net income 134,815           134,815
Other comprehensive income/(loss) (164)       (164)    
Total comprehensive income $ 134,651            
Balance (in shares) at Sep. 30, 2022 105,197,658 105,197,658          
Balance at Sep. 30, 2022 $ 2,525,669 $ 1,052 28,821 3,083,229 (1,137) 21,885 (608,181)
Balance (in shares) at Jun. 30, 2022   105,184,854          
Balance at Jun. 30, 2022 2,521,701 $ 1,052 28,821 3,065,208 (1,062) 21,528 (593,846)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuances of Common Stock, net of issuance costs and tax withholdings - shares   13,583          
Issuances of Common Stock, net of issuance costs and tax withholdings 362 $ 0   362      
Dividends on Common Stock (52,586)           (52,586)
Dividends on Preferred Stock (621)           (621)
Adjustment of noncontrolling interests in the Operating Partnership to fair value 16,952     16,952      
Share-based compensation expense, net of forfeitures - shares   (779)          
Share-based compensation expense, net of forfeitures 707 $ 0   707      
Net (income) attributable to noncontrolling interests in the Operating Partnership (881)           (881)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0         357 (357)
Comprehensive income:              
Net income 40,110           40,110
Other comprehensive income/(loss) (75)       (75)    
Total comprehensive income $ 40,035            
Balance (in shares) at Sep. 30, 2022 105,197,658 105,197,658          
Balance at Sep. 30, 2022 $ 2,525,669 $ 1,052 $ 28,821 $ 3,083,229 $ (1,137) $ 21,885 $ (608,181)
v3.22.2.2
HPI - Consolidated Statements of Equity (Parentheticals) - Highwoods Properties, Inc. [Member] - $ / shares
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dividends on Common Stock (per share) $ 0.50 $ 0.50 $ 1.50 $ 1.46
Series A Cumulative Redeemable Preferred Shares [Member]        
Dividends on Preferred Stock (per share) $ 21.5625 $ 21.5625 $ 64.6875 $ 64.6875
v3.22.2.2
HRLP - Consolidated Statements of Capital - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Increase (Decrease) in Partners' Capital [Roll Forward]        
Balance $ 2,521,701 $ 2,367,643 $ 2,499,558 $ 2,358,170
Share-based compensation expense, net of forfeitures 707 1,896 6,843 6,751
Distributions to noncontrolling interests in consolidated affiliates   (560) (1,411) (1,342)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0 0 0 0
Comprehensive income:        
Net income 40,110 75,587 134,815 194,286
Other comprehensive income/(loss) (75) 123 (164) 360
Total comprehensive income 40,035 75,710 134,651 194,646
Balance 2,525,669 2,401,985 2,525,669 2,401,985
Highwoods Realty Limited Partnership        
Increase (Decrease) in Partners' Capital [Roll Forward]        
Balance 2,492,880 2,338,822 2,470,737 2,329,344
Issuances of Common Units, net of issuance costs and tax withholdings 362 7,508 4,797 13,405
Redemptions of Common Units (3,101)   (3,101)  
Distributions on Common Units (53,573) (53,333) (160,660) (155,445)
Distributions on Preferred Units (621) (621) (1,864) (1,864)
Share-based compensation expense, net of forfeitures 707 1,896 6,843 6,751
Distributions to noncontrolling interests in consolidated affiliates   (560) (1,411) (1,342)
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner 20,159 3,742 46,856 (12,331)
Net (income) attributable to noncontrolling interests in consolidated affiliates 0 0 0 0
Comprehensive income:        
Net income 40,110 75,587 134,815 194,286
Other comprehensive income/(loss) (75) 123 (164) 360
Total comprehensive income 40,035 75,710 134,651 194,646
Balance 2,496,848 2,373,164 2,496,848 2,373,164
General Partners' Common Units [Member] | Highwoods Realty Limited Partnership        
Increase (Decrease) in Partners' Capital [Roll Forward]        
Balance 24,723 23,182 24,492 23,087
Issuances of Common Units, net of issuance costs and tax withholdings 4 75 48 134
Redemptions of Common Units (31)   (31)  
Distributions on Common Units (536) (533) (1,607) (1,554)
Distributions on Preferred Units (7) (7) (19) (19)
Share-based compensation expense, net of forfeitures 7 19 68 68
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner 202 38 469 (123)
Net (income) attributable to noncontrolling interests in consolidated affiliates (4) (9) (9) (15)
Comprehensive income:        
Net income 401 756 1,348 1,943
Balance 24,759 23,521 24,759 23,521
Limited Partners' Common Units [Member] | Highwoods Realty Limited Partnership        
Increase (Decrease) in Partners' Capital [Roll Forward]        
Balance 2,447,691 2,295,026 2,424,802 2,285,673
Issuances of Common Units, net of issuance costs and tax withholdings 358 7,433 4,749 13,271
Redemptions of Common Units (3,070)   (3,070)  
Distributions on Common Units (53,037) (52,800) (159,053) (153,891)
Distributions on Preferred Units (614) (614) (1,845) (1,845)
Share-based compensation expense, net of forfeitures 700 1,877 6,775 6,683
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner 19,957 3,704 46,387 (12,208)
Net (income) attributable to noncontrolling interests in consolidated affiliates (353) (885) (871) (1,454)
Comprehensive income:        
Net income 39,709 74,831 133,467 192,343
Balance 2,451,341 2,328,572 2,451,341 2,328,572
Accumulated Other Comprehensive Income (Loss) [Member] | Highwoods Realty Limited Partnership        
Increase (Decrease) in Partners' Capital [Roll Forward]        
Balance (1,062) (1,225) (973) (1,462)
Comprehensive income:        
Other comprehensive income/(loss) (75) 123 (164) 360
Balance (1,137) (1,102) (1,137) (1,102)
Noncontrolling Interests in Consolidated Affiliates [Member] | Highwoods Realty Limited Partnership        
Increase (Decrease) in Partners' Capital [Roll Forward]        
Balance 21,528 21,839 22,416 22,046
Distributions to noncontrolling interests in consolidated affiliates   (560) (1,411) (1,342)
Net (income) attributable to noncontrolling interests in consolidated affiliates 357 894 880 1,469
Comprehensive income:        
Balance $ 21,885 $ 22,173 $ 21,885 $ 22,173
v3.22.2.2
HRLP - Consolidated Statements of Capital (Parentheticals) - Highwoods Realty Limited Partnership - $ / shares
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Distributions on Common Units (per unit) $ 0.50 $ 0.50 $ 1.50 $ 1.46
Series A Cumulative Redeemable Preferred Shares [Member]        
Distributions on Preferred Units (per unit) $ 21.5625 $ 21.5625 $ 64.6875 $ 64.6875
v3.22.2.2
HPI - Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net income $ 134,815 $ 194,286
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 212,466 189,423
Amortization of lease incentives and acquisition-related intangible assets and liabilities (342) (1,770)
Share-based compensation expense 6,843 6,751
Net credit losses/(reversals) on operating lease receivables 3,167 (60)
Accrued interest on mortgages and notes receivable (67) (79)
Amortization of debt issuance costs 3,096 2,963
Amortization of cash flow hedges (164) 377
Amortization of mortgages and notes payable fair value adjustments (60) 882
Impairments of real estate assets 36,515 0
Losses on debt extinguishment 0 134
Net gains on disposition of property (63,546) (80,371)
Equity in earnings of unconsolidated affiliates (1,083) (1,614)
Distributions of earnings from unconsolidated affiliates 606 1,410
Changes in operating assets and liabilities:    
Accounts receivable (11,454) 5,753
Prepaid expenses and other assets (2,150) (1,210)
Accrued straight-line rents receivable (20,558) (13,734)
Accounts payable, accrued expenses and other liabilities 21,795 6,077
Net cash provided by operating activities 319,879 309,218
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (224,934) (270,160)
Investments in development in-process (26,220) (65,333)
Investments in tenant improvements and deferred leasing costs (90,910) (68,197)
Investments in building improvements (45,289) (34,452)
Investment in acquired controlling interest in unconsolidated affiliate 0 (127,339)
Net proceeds from disposition of real estate assets 130,038 187,964
Investments in mortgages and notes receivable (24) (56)
Repayments of mortgages and notes receivable 215 229
Investments in and advances to unconsolidated affiliates (81,693) 0
Payments of earnest money deposits (3,000) 0
Changes in other investing activities 224 4,119
Net cash used in investing activities (341,593) (373,225)
Financing activities:    
Dividends on Common Stock (157,587) (151,898)
Redemptions/repurchases of Preferred Stock 0 (5)
Redemption of Common Units (3,101) 0
Dividends on Preferred Stock (1,864) (1,864)
Distributions to noncontrolling interests in the Operating Partnership (3,687) (4,144)
Distributions to noncontrolling interests in consolidated affiliates (1,411) (1,342)
Proceeds from the issuance of Common Stock 7,200 15,453
Costs paid for the issuance of Common Stock (247) (355)
Repurchase of shares related to tax withholdings (2,156) (1,693)
Borrowings on revolving credit facility 275,000 310,000
Repayments of revolving credit facility (235,000) (175,000)
Borrowings on mortgages and notes payable 350,000 200,000
Repayments of mortgages and notes payable (204,807) (264,212)
Changes in debt issuance costs and other financing activities (2,731) (9,279)
Net cash provided by/(used in) financing activities 19,609 (84,339)
Net decrease in cash and cash equivalents and restricted cash (2,105) (148,346)
Cash and cash equivalents and restricted cash at beginning of the period 31,198 189,244
Cash and cash equivalents and restricted cash at end of the period 29,093 40,898
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 23,055 27,871
Restricted cash at end of the period 6,038 13,027
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 82,908 66,457
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges 0 (17)
Conversions of Common Units to Common Stock 1,251 278
Changes in accrued capital expenditures [1] (10,180) (20,150)
Write-off of fully depreciated real estate assets 42,817 52,158
Write-off of fully amortized leasing costs 22,739 37,045
Write-off of fully amortized debt issuance costs 1,216 4,158
Adjustment of noncontrolling interests in the Operating Partnership to fair value 42,480 (11,072)
Assumption of mortgages and notes payable related to acquisition activities 0 403,000
Initial recognition of lease liabilities related to right of use assets 0 5,310
Future consideration in connection with the acquisition of land 0 16,000
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 44,400 $ 45,800
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities at September 30, 2022 and 2021 were $44.4 million and $45.8 million, respectively.
v3.22.2.2
HRLP - Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net income $ 134,815 $ 194,286
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 212,466 189,423
Amortization of lease incentives and acquisition-related intangible assets and liabilities (342) (1,770)
Share-based compensation expense 6,843 6,751
Net credit losses/(reversals) on operating lease receivables 3,167 (60)
Accrued interest on mortgages and notes receivable (67) (79)
Amortization of debt issuance costs 3,096 2,963
Amortization of cash flow hedges (164) 377
Amortization of mortgages and notes payable fair value adjustments (60) 882
Impairments of real estate assets 36,515 0
Losses on debt extinguishment 0 134
Net gains on disposition of property (63,546) (80,371)
Equity in earnings of unconsolidated affiliates (1,083) (1,614)
Distributions of earnings from unconsolidated affiliates 606 1,410
Changes in operating assets and liabilities:    
Accounts receivable (11,454) 5,753
Prepaid expenses and other assets (2,150) (1,210)
Accrued straight-line rents receivable (20,558) (13,734)
Accounts payable, accrued expenses and other liabilities 21,795 6,077
Net cash provided by operating activities 319,879 309,218
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (224,934) (270,160)
Investments in development in-process (26,220) (65,333)
Investments in tenant improvements and deferred leasing costs (90,910) (68,197)
Investments in building improvements (45,289) (34,452)
Investment in acquired controlling interest in unconsolidated affiliate 0 (127,339)
Net proceeds from disposition of real estate assets 130,038 187,964
Investments in mortgages and notes receivable (24) (56)
Repayments of mortgages and notes receivable 215 229
Investments in and advances to unconsolidated affiliates (81,693) 0
Payments of earnest money deposits (3,000) 0
Changes in other investing activities 224 4,119
Net cash used in investing activities (341,593) (373,225)
Financing activities:    
Redemption of Common Units (3,101) 0
Distributions to noncontrolling interests in consolidated affiliates (1,411) (1,342)
Borrowings on revolving credit facility 275,000 310,000
Repayments of revolving credit facility (235,000) (175,000)
Borrowings on mortgages and notes payable 350,000 200,000
Repayments of mortgages and notes payable (204,807) (264,212)
Changes in debt issuance costs and other financing activities (2,731) (9,279)
Net cash provided by/(used in) financing activities 19,609 (84,339)
Net decrease in cash and cash equivalents and restricted cash (2,105) (148,346)
Cash and cash equivalents and restricted cash at beginning of the period 31,198 189,244
Cash and cash equivalents and restricted cash at end of the period 29,093 40,898
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 23,055 27,871
Restricted cash at end of the period 6,038 13,027
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 82,908 66,457
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges 0 (17)
Changes in accrued capital expenditures [1] (10,180) (20,150)
Write-off of fully depreciated real estate assets 42,817 52,158
Write-off of fully amortized leasing costs 22,739 37,045
Write-off of fully amortized debt issuance costs 1,216 4,158
Assumption of mortgages and notes payable related to acquisition activities 0 403,000
Initial recognition of lease liabilities related to right of use assets 0 5,310
Future consideration in connection with the acquisition of land 0 16,000
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities 44,400 45,800
Highwoods Realty Limited Partnership    
Operating activities:    
Net income 134,815 194,286
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 212,466 189,423
Amortization of lease incentives and acquisition-related intangible assets and liabilities (342) (1,770)
Share-based compensation expense 6,843 6,751
Net credit losses/(reversals) on operating lease receivables 3,167 (60)
Accrued interest on mortgages and notes receivable (67) (79)
Amortization of debt issuance costs 3,096 2,963
Amortization of cash flow hedges (164) 377
Amortization of mortgages and notes payable fair value adjustments (60) 882
Impairments of real estate assets 36,515 0
Losses on debt extinguishment 0 134
Net gains on disposition of property (63,546) (80,371)
Equity in earnings of unconsolidated affiliates (1,083) (1,614)
Distributions of earnings from unconsolidated affiliates 606 1,410
Changes in operating assets and liabilities:    
Accounts receivable (11,454) 5,753
Prepaid expenses and other assets (2,150) (1,210)
Accrued straight-line rents receivable (20,558) (13,734)
Accounts payable, accrued expenses and other liabilities 21,795 6,077
Net cash provided by operating activities 319,879 309,218
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (224,934) (270,160)
Investments in development in-process (26,220) (65,333)
Investments in tenant improvements and deferred leasing costs (90,910) (68,197)
Investments in building improvements (45,289) (34,452)
Investment in acquired controlling interest in unconsolidated affiliate 0 (127,339)
Net proceeds from disposition of real estate assets 130,038 187,964
Investments in mortgages and notes receivable (24) (56)
Repayments of mortgages and notes receivable 215 229
Investments in and advances to unconsolidated affiliates (81,693) 0
Payments of earnest money deposits (3,000) 0
Changes in other investing activities 224 4,119
Net cash used in investing activities (341,593) (373,225)
Financing activities:    
Distributions on Common Units (160,660) (155,445)
Redemptions/repurchases of Preferred Units 0 (5)
Redemption of Common Units (3,101) 0
Distributions on Preferred Units (1,864) (1,864)
Distributions to noncontrolling interests in consolidated affiliates (1,411) (1,342)
Proceeds from the issuance of Common Units 7,200 15,453
Costs paid for the issuance of Common Units (247) (355)
Repurchase of units related to tax withholdings (2,156) (1,693)
Borrowings on revolving credit facility 275,000 310,000
Repayments of revolving credit facility (235,000) (175,000)
Borrowings on mortgages and notes payable 350,000 200,000
Repayments of mortgages and notes payable (204,807) (264,212)
Changes in debt issuance costs and other financing activities (3,345) (9,876)
Net cash provided by/(used in) financing activities 19,609 (84,339)
Net decrease in cash and cash equivalents and restricted cash (2,105) (148,346)
Cash and cash equivalents and restricted cash at beginning of the period 31,198 189,244
Cash and cash equivalents and restricted cash at end of the period 29,093 40,898
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 23,055 27,871
Restricted cash at end of the period 6,038 13,027
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 82,908 66,457
Supplemental disclosure of non-cash investing and financing activities:    
Unrealized losses on cash flow hedges 0 (17)
Changes in accrued capital expenditures [1] (10,180) (20,150)
Write-off of fully depreciated real estate assets 42,817 52,158
Write-off of fully amortized leasing costs 22,739 37,045
Write-off of fully amortized debt issuance costs 1,216 4,158
Adjustment of Redeemable Common Units to fair value (47,470) 11,734
Assumption of mortgages and notes payable related to acquisition activities 0 403,000
Initial recognition of lease liabilities related to right of use assets 0 5,310
Future consideration in connection with the acquisition of land 0 16,000
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 44,400 $ 45,800
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities at September 30, 2022 and 2021 were $44.4 million and $45.8 million, respectively.
v3.22.2.2
Description of Business and Significant Accounting Policies
 9 Months Ended
Sep. 30, 2022
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”). At September 30, 2022, we owned or had an interest in 28.1 million rentable square feet of in-service properties, 1.4 million rentable square feet of office properties under development and development land with approximately 5.0 million rentable square feet of potential office build out.

Capital Structure

The Company is the sole general partner of the Operating Partnership. At September 30, 2022, the Company owned all of the Preferred Units and 104.8 million, or 97.8%, of the Common Units in the Operating Partnership. Limited partners owned the remaining 2.4 million Common Units. During the nine months ended September 30, 2022, the Company redeemed 30,909 Common Units for a like number of shares of Common Stock and 91,887 Common Units for cash.

During 2020, we entered into separate equity distribution agreements in which the Company may offer and sell up to $300.0 million in aggregate gross sales price of shares of Common Stock. During the nine months ended September 30, 2022, the Company issued 130,011 shares of Common Stock under its equity distribution agreements at an average gross sales price of $46.50 per share and received net proceeds, after sales commissions, of $6.0 million. As a result of this activity and the redemptions discussed above, the percentage of Common Units owned by the Company increased from 97.7% at December 31, 2021 to 97.8% at September 30, 2022.

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.

During the third quarter of 2022, we acquired an office building using a special purpose entity owned by a qualified intermediary to facilitate one or more potential Section 1031 reverse exchanges under the Internal Revenue Code. To realize the tax deferrals available under the Section 1031 exchanges, we must complete the Section 1031 exchanges and take title to the to-be-exchanged buildings 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. At September 30, 2022, we also have involvement with four additional entities we determined to be variable interest entities, one of which we are the primary beneficiary and is consolidated and three of which we are not the primary beneficiary and are not consolidated. (See Note 3).

All intercompany transactions and accounts have been eliminated.

The unaudited interim consolidated financial statements and accompanying unaudited consolidated financial information, in the opinion of management, 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 2021 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. We have stop-loss coverage to limit our exposure to significant claims on a per claim and annual aggregate basis. We determine our liabilities for claims, including incurred but not reported losses, based on all relevant information, including actuarial estimates of claim liabilities. At September 30, 2022, a reserve of $0.6 million was recorded to cover estimated reported and unreported claims.

Investment Activity

During the third quarter of 2022, we entered the Dallas market through the formation of two joint ventures with Granite Properties to develop the following Class AA assets:

ProjectBBDOwn %Rentable Square Feet
Granite Park SixFrisco/Plano50%422,000
23SpringsUptown50%642,000

In connection with the formation, we agreed to contribute our 50.0% share of the equity required to fund the development projects, $55.7 million of which was funded on the formation date. We determined that we have a variable interest in each of these entities (see Note 3).

The Granite Park Six joint venture obtained a construction loan for $115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained an interest rate hedge contract that effectively caps the underlying SOFR rate at 3.5% with respect to $95.2 million of any outstanding amounts. The cap expires in July 2024. No amounts were drawn on this loan as of September 30, 2022. The 23Springs joint venture obtained a construction loan for $265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained an interest rate hedge contract that effectively caps the underlying SOFR rate at 3.5% with respect to $83.0 million of any outstanding amounts. The cap expires in April 2024. No amounts were drawn on this loan as of September 30, 2022.

We plan to fund our entry into the Dallas market, including our share of the equity required to construct Granite Park Six and 23Springs, by exiting the Pittsburgh market (see Note 4). Our Pittsburgh assets, which consist of 2,155,000 square feet of office that was 90.3% occupied as of September 30, 2022, represent approximately 6% of our overall net operating income.

Recently Issued Accounting Standards

The Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) that provides temporary optional expedients and exceptions to the guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (“SOFR”). Entities can elect not to apply certain modification accounting requirements to contracts affected by reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Entities can also elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. The guidance in this ASU is optional and may be elected now through December 31, 2022 as reference rate reform activities occur. We will continue to evaluate the impact of this ASU; however, we currently expect to avail ourselves of such optional expedients and exceptions should our modified contracts meet the required criteria.
v3.22.2.2
Leases
 9 Months Ended
Sep. 30, 2022
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. Office properties owned by us that are under lease are primarily located in Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, 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 $203.9 million and $192.3 million during the three months ended September 30, 2022 and 2021, respectively, and $608.1 million and $554.6 million during the nine months ended September 30, 2022 and 2021, respectively. Included in these amounts are variable lease payments of $16.9 million and $13.7 million during the three months ended September 30, 2022 and 2021, respectively, and $51.9 million and $42.7 million during the nine months ended September 30, 2022 and 2021, respectively.
v3.22.2.2
Variable Interest Entities
 9 Months Ended
Sep. 30, 2022
Variable Interest Entities [Abstract]  
Variable Interest Entities Variable Interest Entities
The acquisition of SIX50 at Legacy Union in Charlotte was completed in the third quarter of 2022 using a special purpose entity owned by a qualified intermediary to facilitate one or more potential Section 1031 reverse exchanges under the Internal Revenue Code. As of September 30, 2022, this variable interest entity had total assets, liabilities and cash flows of $200.6 million, $3.3 million, and $0.5 million, respectively.

Consolidated Variable Interest Entity

In 2019, we and The Bromley Companies formed a joint venture to construct Midtown West, a 150,000 square foot, multi-customer office building located in the mixed-use Midtown Tampa project in Tampa’s Westshore submarket. Midtown West has an anticipated total investment of $71.3 million. Construction of Midtown West began in the third quarter of 2019 and the building was placed in service in the second quarter of 2021. At closing, we agreed to contribute cash of $20.0 million, which has been fully funded, in exchange for an 80.0% interest in the Midtown West joint venture and The Bromley Companies contributed land valued at $5.0 million in exchange for the remaining 20.0% interest. We also committed to provide a $46.3 million interest-only secured construction loan to the Midtown West joint venture that is scheduled to mature in June 2023. The loan bears interest at LIBOR plus 250 basis points. As of September 30, 2022, $37.7 million under the loan has been funded.

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 as both a debt and an equity holder and The Bromley Companies as an equity holder. 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 investment provided by us and The Bromley Companies is not sufficient to finance its planned investments and operations. We, as 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 and loan commitment. 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:

September 30,
2022		December 31,
2021
Net real estate assets$60,917 $53,191 
Cash and cash equivalents$1,246 $389 
Accounts receivable$166 $— 
Accrued straight-line rents receivable$720 $121 
Deferred leasing costs, net$2,251 $1,519 
Prepaid expenses and other assets, net$160 $163 
Accounts payable, accrued expenses and other liabilities$1,476 $646 

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.
Unconsolidated Variable Interest Entities

During the fourth quarter of 2021, we and Brand Properties, LLC (“Brand”) formed a joint venture to construct 2827 Peachtree, a 135,000 square foot, multi-customer office building located in Atlanta’s Buckhead submarket. 2827 Peachtree has an anticipated total investment of $79.0 million. Construction of 2827 Peachtree began in the first quarter of 2022 with a scheduled completion date in the third quarter of 2023. At closing, we agreed to contribute cash of $13.3 million, which has been fully funded, in exchange for a 50.0% interest in the 2827 Peachtree joint venture and Brand contributed land valued at $7.7 million and cash of $5.6 million in exchange for the remaining 50.0% interest. We also committed to provide a $49.6 million interest-only secured construction loan to the 2827 Peachtree joint venture that is scheduled to mature in December 2024 with an option to extend for one year. The loan bears interest at LIBOR plus 300 basis points. As of September 30, 2022, no amounts under the loan have been funded.

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 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 investment provided by us and Brand is 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. At September 30, 2022, our risk of loss with respect to this arrangement was limited to the carrying value of the investment balance of $13.7 million as no amounts were outstanding under the loan. 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.

We also determined that we have a variable interest in both the Granite Park Six and 23Springs joint ventures primarily because the entities were designed to pass along interest rate risk, equity price risk and operation risk to us and Granite Properties as equity holders. The joint ventures were further determined to be variable interest entities as they require additional subordinated financial support in the form of loans because the initial equity investments provided by us and Granite Properties are 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 either entity and therefore do not qualify as the primary beneficiary. Accordingly, the entities are not consolidated. At September 30, 2022, our risk of loss with respect to these arrangements was limited to the carrying value of each investment balance as no amounts were outstanding under the loans. Our investment balances were $36.1 million and $37.9 million at September 30, 2022 for Granite Park Six and 23Springs, respectively. The assets of the Granite Park Six and 23Springs joint ventures can be used only to settle obligations of the respective joint venture and their creditors have no recourse to our wholly owned assets.
v3.22.2.2
Real Estate Assets
 9 Months Ended
Sep. 30, 2022
Real Estate [Abstract]  
Real Estate Assets Real Estate Assets
Acquisitions

During the third quarter of 2022, we acquired SIX50 at Legacy Union, a 367,000 square foot trophy office building in Charlotte’s Uptown CBD submarket, for a net purchase price of $198.0 million. The assets acquired and liabilities assumed were recorded at relative fair value as determined by management, with the assistance of third party specialists, based on information available at the acquisition date and on current assumptions as to future operations.

During the second quarter of 2022, we acquired land in Charlotte for an aggregate purchase price, including capitalized acquisition costs, of $27.0 million.

Dispositions

During the third quarter of 2022, we sold land in Richmond for a sales price of $23.3 million and recorded a gain on disposition of property of $9.4 million.

During the second quarter of 2022, we sold office buildings and land in Atlanta, Greensboro and Tampa for an aggregate sales price of $100.7 million (before closing credits to buyers of $1.1 million) and recorded aggregate gains on disposition of property of $50.0 million.

During the first quarter of 2022, we sold land in Tampa for a sales price of $9.6 million and recorded a gain on disposition of property of $4.1 million.

Impairments

Because we classified all of our assets in Pittsburgh as non-core, we recorded the following impairment charges in 2022:

•During the third quarter of 2022, we recorded an impairment charge of $1.5 million to lower the carrying amount of a land parcel in Pittsburgh to its estimated fair value less costs to sell; and
•During the second quarter of 2022, we recorded an impairment charge of $35.0 million to lower the carrying amount of EQT Plaza (including accrued straight-line rents receivable and deferred leasing costs) to its estimated fair value less costs to sell. EQT Plaza is a 616,000 square foot office building located in the heart of Pittsburgh’s CBD. EQT Corporation’s lease of 317,000 square feet at EQT Plaza is scheduled to expire in September 2024.
v3.22.2.2
Intangible Assets and Below Market Lease Liabilities
 9 Months Ended
Sep. 30, 2022
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:

September 30,
2022		December 31,
2021
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)$413,036 $402,013 
Less accumulated amortization(157,205)(143,111)
$255,831 $258,902 
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities$55,371 $57,703 
Less accumulated amortization(28,633)(28,978)
$26,738 $28,725 

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

Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)$11,425 $10,070 $33,603 $27,267 
Amortization of lease incentives (in rental and other revenues)$500 $424 $1,369 $1,317 
Amortization of acquisition-related intangible assets (in rental and other revenues)$797 $636 $2,448 $1,154 
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)$(1,473)$(1,391)$(4,159)$(4,241)

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 Intangible Assets (in Rental and Other Revenues)Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
October 1 through December 31, 2022$11,068 $488 $865 $(1,275)
202340,696 1,623 3,279 (4,918)
202435,514 1,554 3,065 (4,278)
202528,586 1,478 2,202 (2,764)
202624,614 1,279 1,868 (2,464)
Thereafter86,384 4,089 7,179 (11,039)
$226,862 $10,511 $18,458 $(26,738)
Weighted average remaining amortization periods as of September 30, 2022 (in years)7.97.97.78.4
The following table sets forth the intangible assets acquired and below market lease liabilities assumed as a result of the acquisition of SIX50 at Legacy Union in Charlotte:

Acquisition-Related 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$4,722 $12,606 $(2,172)
Weighted average remaining amortization periods as of September 30, 2022 (in years)9.19.812.7
v3.22.2.2
Mortgages and Notes Payable
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Mortgages and Notes Payable Mortgages and Notes Payable
The following table sets forth our mortgages and notes payable:

September 30,
2022		December 31,
2021
Secured indebtedness$486,003 $491,942 
Unsecured indebtedness2,503,252 2,312,180 
Less-unamortized debt issuance costs(15,886)(15,207)
Total mortgages and notes payable, net$2,973,369 $2,788,915 

At September 30, 2022, our secured mortgage loans were collateralized by real estate assets with an undepreciated book value of $742.1 million.

Our $750.0 million unsecured revolving credit facility is scheduled to mature in March 2025 and includes an accordion feature that allows for an additional $400.0 million of borrowing capacity subject to additional lender commitments. Assuming no defaults have occurred, we have an option to extend the maturity for two additional six-month periods. During the second quarter of 2022, in connection with the modification of our $200.0 million term loan as discussed below, the interest rate on our revolving credit facility was converted from LIBOR plus 90 basis points to 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. We may be entitled to a temporary reduction in the interest rate of one basis point provided we meet certain sustainability goals with respect to the ongoing reduction of greenhouse gas emissions. There was $110.0 million and $170.0 million outstanding under our revolving credit facility at September 30, 2022 and October 18, 2022, respectively. At both September 30, 2022 and October 18, 2022, we had $0.1 million of outstanding letters of credit, which reduces the availability on our revolving credit facility. As a result, the unused capacity of our revolving credit facility at September 30, 2022 and October 18, 2022 was $639.9 million and $579.9 million, respectively.

During the second quarter of 2022, we modified our $200.0 million unsecured bank term loan to extend the maturity date from November 2022 to May 2026. As part of this modification, we also obtained a $150.0 million delayed-draw term loan, which was drawn in its entirety in the third quarter of 2022, that is scheduled to mature in May 2027. The interest rate, based on current credit ratings, is SOFR plus a related spread adjustment of 10 basis points and a borrowing spread of 95 basis points. The interest rate is based on the higher of the publicly announced ratings from Moody’s Investors Service or Standard & Poor’s Ratings Services. We may be entitled to a temporary reduction in the interest rate of one basis point provided we meet certain sustainability goals with respect to the ongoing reduction of greenhouse gas emissions. We incurred $2.7 million of debt issuance costs, which are being amortized along with certain existing unamortized debt issuance costs over the remaining term of our modified term loan.

See Note 15 for a discussion of financing activities subsequent to September 30, 2022.

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 October 25, 2022 (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. 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;

•issuance of 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.
v3.22.2.2
Derivative Financial Instruments
 9 Months Ended
Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
We previously entered into floating-to-fixed interest rate swaps through January 2022 with respect to an aggregate of $50.0 million LIBOR-based borrowings. These swaps effectively fixed the underlying one month LIBOR rate at a weighted average rate of 1.693%. During the first quarter of 2022, these interest rate swaps expired.

Our interest rate swaps were designated as and accounted for as cash flow hedges with changes in fair value recorded in other comprehensive income/(loss) each reporting period. We had no collateral requirements related to our interest rate swaps.

Amounts reported in accumulated other comprehensive income/(loss) related to derivatives are reclassified to interest expense as interest payments are made on our debt. During the period from October 1, 2022 through September 30, 2023, we estimate that $0.3 million will be reclassified as a net decrease to interest expense.

The following table sets forth the fair value of our derivatives:

September 30,
2022		December 31,
2021
Derivatives:
Derivatives designated as cash flow hedges in accounts payable, accrued expenses and other liabilities:
Interest rate swaps$— $60 

The following table sets forth the effect of our cash flow hedges on accumulated other comprehensive loss and interest expense:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Derivatives Designated as Cash Flow Hedges:
Amount of unrealized losses recognized in accumulated other comprehensive loss on derivatives:
Interest rate swaps$— $(6)$— $(17)
Amount of (gains)/losses reclassified out of accumulated other comprehensive loss into interest expense:
Interest rate swaps$(75)$129 $(164)$377 
v3.22.2.2
Noncontrolling Interests
 9 Months Ended
Sep. 30, 2022
Noncontrolling Interest [Abstract]  
Noncontrolling Interests Noncontrolling Interests
Noncontrolling Interests in Consolidated Affiliates

At September 30, 2022, our noncontrolling interests in consolidated affiliates relate to our joint venture partners’ 50.0% interest in office properties in Richmond and 20.0% interest in the Midtown West joint venture. Our joint venture partners are unrelated third parties.

Noncontrolling Interests in the Operating Partnership

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

Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Beginning noncontrolling interests in the Operating Partnership$84,583 $128,180 $111,689 $112,499 
Adjustment of noncontrolling interests in the Operating Partnership to fair value(16,952)(4,262)(42,480)11,072 
Conversions of Common Units to Common Stock— (234)(1,251)(278)
Redemptions of Common Units(3,101)— (3,101)— 
Net income attributable to noncontrolling interests in the Operating Partnership881 1,967 3,049 5,084 
Distributions to noncontrolling interests in the Operating Partnership(1,192)(1,418)(3,687)(4,144)
Total noncontrolling interests in the Operating Partnership$64,219 $124,233 $64,219 $124,233 

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
September 30,		Nine Months Ended
September 30,
2022202120222021
Net income available for common stockholders$38,251 $72,105 $129,022 $185,869 
Increase in additional paid in capital from conversions of Common Units to Common Stock— 234 1,251 278 
Change from net income available for common stockholders and transfers from noncontrolling interests$38,251 $72,339 $130,273 $186,147 
v3.22.2.2
Disclosure About Fair Value of Financial Instruments
 9 Months Ended
Sep. 30, 2022
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 utilizing 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 2Level 3
TotalQuoted Prices
in Active
Markets for Identical Assets or Liabilities		Significant Observable InputsSignificant Unobservable Inputs
Fair Value at September 30, 2022:
Assets:
Mortgages and notes receivable, at fair value (1)
$1,103 $— $1,103 $— 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,364 2,364 — — 
Impaired real estate assets1,665 — — 1,665 
Total Assets$5,132 $2,364 $1,103 $1,665 
Noncontrolling Interests in the Operating Partnership$64,219 $64,219 $— $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$2,630,788 $— $2,630,788 $— 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,364 2,364 — — 
Total Liabilities
$2,633,152 $2,364 $2,630,788 $— 
Fair Value at December 31, 2021:
Assets:
Mortgages and notes receivable, at fair value (1)
$1,227 $— $1,227 $— 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,866 2,866 — — 
Total Assets$4,093 $2,866 $1,227 $— 
Noncontrolling Interests in the Operating Partnership$111,689 $111,689 $— $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$2,907,492 $— $2,907,492 $— 
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)
60 — 60 — 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,866 2,866 — — 
Total Liabilities
$2,910,418 $2,866 $2,907,552 $— 
__________
(1)    Amounts are not recorded at fair value on our Consolidated Balance Sheets at September 30, 2022 and December 31, 2021.

The Level 3 impaired real estate assets measured at a fair value of $1.7 million in the third quarter of 2022 included a land parcel in Pittsburgh. This impairment resulted from the changes in our assumptions about the use of the asset as a result of our plan to exit the Pittsburgh market and was calculated using broker opinions of value, as observable inputs were not available.

In the second quarter of 2022, Level 3 impaired real estate assets, which measured at a fair value of $57.4 million, resulted from the shortened hold period assumptions for EQT Plaza as a result of our plan to exit the Pittsburgh market. The estimated fair value was calculated using broker opinions of value, which incorporate an income approach, as observable inputs were not available. Key assumptions used in the impairment calculation were estimated selling costs of 3.5% (including seller’s share of anticipated transfer taxes), the high end of an estimated discount rate ranging from 13.2% to 16.2% and an estimated terminal capitalization rate of 8.0%.
v3.22.2.2
Share-Based Payments
 9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Share-Based Payments Share-Based PaymentsDuring the nine months ended September 30, 2022, the Company granted 99,975 shares of time-based restricted stock and 81,832 shares of total return-based restricted stock with weighted average grant date fair values per share of $43.58 and $41.94, respectively. We recorded share-based compensation expense of $0.7 million and $1.9 million during the three months ended September 30, 2022 and 2021, and $6.8 million during each of the nine months ended September 30, 2022 and 2021. At September 30, 2022, there was $4.3 million of total unrecognized share-based compensation costs, which will be recognized over a weighted average remaining contractual term of 2.0 years.
v3.22.2.2
Accumulated Other Comprehensive Loss
 9 Months Ended
Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss
The following table sets forth the components of accumulated other comprehensive loss:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Cash flow hedges:
Beginning balance$(1,062)$(1,225)$(973)$(1,462)
Unrealized losses on cash flow hedges— (6)— (17)
Amortization of cash flow hedges (1)
(75)129 (164)377 
Total accumulated other comprehensive loss$(1,137)$(1,102)$(1,137)$(1,102)
__________
(1)    Amounts reclassified out of accumulated other comprehensive loss into interest expense.
v3.22.2.2
Real Estate and Other Assets Held For Sale
 9 Months Ended
Sep. 30, 2022
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 the assets held for sale at September 30, 2022 and December 31, 2021, which are considered non-core:

September 30,
2022		December 31,
2021
Assets:
Land held for development— $3,482 
Net real estate assets— 3,482 
Prepaid expenses and other assets, net— 36 
Real estate and other assets, net, held for sale$— $3,518 
v3.22.2.2
Earnings Per Share and Per Unit
 9 Months Ended
Sep. 30, 2022
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
September 30,		Nine Months Ended
September 30,
2022202120222021
Earnings per Common Share - basic:
Numerator:
Net income$40,110 $75,587 $134,815 $194,286 
Net (income) attributable to noncontrolling interests in the Operating Partnership
(881)(1,967)(3,049)(5,084)
Net (income) attributable to noncontrolling interests in consolidated affiliates
(357)(894)(880)(1,469)
Dividends on Preferred Stock(621)(621)(1,864)(1,864)
Net income available for common stockholders$38,251 $72,105 $129,022 $185,869 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
105,184 104,277 105,094 104,117 
Net income available for common stockholders$0.36 $0.69 $1.23 $1.79 
Earnings per Common Share - diluted:
Numerator:
Net income$40,110 $75,587 $134,815 $194,286 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(357)(894)(880)(1,469)
Dividends on Preferred Stock(621)(621)(1,864)(1,864)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$39,132 $74,072 $132,071 $190,953 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
105,184 104,277 105,094 104,117 
Add:
Stock options using the treasury method— 25 7 17 
Noncontrolling interests Common Units2,417 2,837 2,469 2,838 
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions
107,601 107,139 107,570 106,972 
Net income available for common stockholders$0.36 $0.69 $1.23 $1.79 
__________
(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
September 30,		Nine Months Ended
September 30,
2022202120222021
Earnings per Common Unit - basic:
Numerator:
Net income$40,110 $75,587 $134,815 $194,286 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(357)(894)(880)(1,469)
Distributions on Preferred Units(621)(621)(1,864)(1,864)
Net income available for common unitholders$39,132 $74,072 $132,071 $190,953 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
107,192 106,705 107,154 106,546 
Net income available for common unitholders$0.37 $0.69 $1.23 $1.79 
Earnings per Common Unit - diluted:
Numerator:
Net income$40,110 $75,587 $134,815 $194,286 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(357)(894)(880)(1,469)
Distributions on Preferred Units(621)(621)(1,864)(1,864)
Net income available for common unitholders$39,132 $74,072 $132,071 $190,953 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
107,192 106,705 107,154 106,546 
Add:
Stock options using the treasury method— 25 7 17 
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions
107,192 106,730 107,161 106,563 
Net income available for common unitholders$0.37 $0.69 $1.23 $1.79 
__________
(1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.
v3.22.2.2
Segment Information
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
The following tables summarize the rental and other revenues and net operating income, the primary industry property-level performance metric used by our chief operating decision maker and which is defined as rental and other revenues less rental property and other expenses, for each of our reportable segments. Our segment information for the three and nine months ended September 30, 2021 has been retrospectively revised from previously reported amounts to reflect a change in our reportable segments as a result of our plan to exit the Pittsburgh market.

Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Rental and Other Revenues:
Office:
Atlanta$35,804 $36,672 $106,805 $108,385 
Charlotte18,825 14,313 52,643 32,364 
Nashville44,587 36,136 130,640 106,873 
Orlando13,634 12,852 40,298 38,141 
Raleigh45,220 42,471 137,051 117,168 
Richmond10,872 12,050 31,837 35,263 
Tampa23,590 23,856 71,169 74,166 
Total Office Segment192,532 178,350 570,443 512,360 
Other14,465 17,145 46,773 52,442 
Total Rental and Other Revenues$206,997 $195,495 $617,216 $564,802 
Net Operating Income:
Office:
Atlanta$22,524 $24,157 $69,472 $71,779 
Charlotte14,275 11,159 40,132 25,446 
Nashville33,154 27,355 97,093 78,172 
Orlando7,865 7,920 24,264 23,414 
Raleigh32,822 31,425 101,557 88,005 
Richmond7,112 7,805 21,700 24,092 
Tampa14,351 15,143 44,912 49,640 
Total Office Segment132,103 124,964 399,130 360,548 
Other8,560 9,964 27,961 31,272 
Total Net Operating Income140,663 134,928 427,091 391,820 
Reconciliation to net income:
Depreciation and amortization(73,057)(66,547)(212,466)(189,423)
Impairments of real estate assets(1,515)— (36,515)— 
General and administrative expenses(9,586)(10,350)(32,733)(30,409)
Interest expense(26,392)(21,986)(75,812)(60,755)
Other income138 424 621 1,068 
Gains on disposition of property9,402 38,572 63,546 80,371 
Equity in earnings of unconsolidated affiliates457 546 1,083 1,614 
Net income$40,110 $75,587 $134,815 $194,286 
v3.22.2.2
Subsequent Events
 9 Months Ended
Sep. 30, 2022
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On October 11, 2022, we obtained a $200.0 million, two-year unsecured bank term loan that is scheduled to mature in October 2024 and reduces the existing accordion feature on our $750.0 million unsecured revolving credit facility from $400.0 million to $200.0 million. Assuming no defaults have occurred, we have an option to extend the maturity for one additional year. The interest rate, based on current credit ratings, is SOFR plus a related spread adjustment of 10 basis points and a borrowing spread of 95 basis points. The interest rate is based on the higher of the publicly announced ratings from Moody’s Investors Service or Standard & Poor’s Ratings Services. We may be entitled to a temporary reduction in the interest rate of one basis point provided we meet certain sustainability goals with respect to the ongoing reduction of greenhouse gas emissions.

On October 17, 2022, we used the additional $200.0 million of borrowings, together with available cash and borrowings under our revolving credit facility, to prepay without penalty $250.0 million principal amount of 3.625% unsecured notes that were scheduled to mature in January 2023.

On October 20, 2022, the Company declared a cash dividend of $0.50 per share of Common Stock, which is payable on December 13, 2022 to stockholders of record as of November 21, 2022.
v3.22.2.2
Description of Business and Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2022
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.

During the third quarter of 2022, we acquired an office building using a special purpose entity owned by a qualified intermediary to facilitate one or more potential Section 1031 reverse exchanges under the Internal Revenue Code. To realize the tax deferrals available under the Section 1031 exchanges, we must complete the Section 1031 exchanges and take title to the to-be-exchanged buildings 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. At September 30, 2022, we also have involvement with four additional entities we determined to be variable interest entities, one of which we are the primary beneficiary and is consolidated and three of which we are not the primary beneficiary and are not consolidated. (See Note 3).

All intercompany transactions and accounts have been eliminated.

The unaudited interim consolidated financial statements and accompanying unaudited consolidated financial information, in the opinion of management, 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 2021 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 InsuranceWe are primarily self-insured for health care claims for participating employees. We have stop-loss coverage to limit our exposure to significant claims on a per claim and annual aggregate basis. We determine our liabilities for claims, including incurred but not reported losses, based on all relevant information, including actuarial estimates of claim liabilities.
Recently Issued Accounting Standards
Recently Issued Accounting Standards

The Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) that provides temporary optional expedients and exceptions to the guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (“SOFR”). Entities can elect not to apply certain modification accounting requirements to contracts affected by reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Entities can also elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. The guidance in this ASU is optional and may be elected now through December 31, 2022 as reference rate reform activities occur. We will continue to evaluate the impact of this ASU; however, we currently expect to avail ourselves of such optional expedients and exceptions should our modified contracts meet the required criteria.
v3.22.2.2
Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2022
Accounting Policies [Abstract]  
Schedule of Investment Activities
During the third quarter of 2022, we entered the Dallas market through the formation of two joint ventures with Granite Properties to develop the following Class AA assets:

ProjectBBDOwn %Rentable Square Feet
Granite Park SixFrisco/Plano50%422,000
23SpringsUptown50%642,000
v3.22.2.2
Variable Interest Entities (Tables)
 9 Months Ended
Sep. 30, 2022
Variable Interest Entities [Abstract]  
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:
September 30,
2022		December 31,
2021
Net real estate assets$60,917 $53,191 
Cash and cash equivalents$1,246 $389 
Accounts receivable$166 $— 
Accrued straight-line rents receivable$720 $121 
Deferred leasing costs, net$2,251 $1,519 
Prepaid expenses and other assets, net$160 $163 
Accounts payable, accrued expenses and other liabilities$1,476 $646 
v3.22.2.2
Intangible Assets and Below Market Lease Liabilities (Tables)
 9 Months Ended
Sep. 30, 2022
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:

September 30,
2022		December 31,
2021
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)$413,036 $402,013 
Less accumulated amortization(157,205)(143,111)
$255,831 $258,902 
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities$55,371 $57,703 
Less accumulated amortization(28,633)(28,978)
$26,738 $28,725 
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
September 30,		Nine Months Ended
September 30,
2022202120222021
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)$11,425 $10,070 $33,603 $27,267 
Amortization of lease incentives (in rental and other revenues)$500 $424 $1,369 $1,317 
Amortization of acquisition-related intangible assets (in rental and other revenues)$797 $636 $2,448 $1,154 
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)$(1,473)$(1,391)$(4,159)$(4,241)
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 Intangible Assets (in Rental and Other Revenues)Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
October 1 through December 31, 2022$11,068 $488 $865 $(1,275)
202340,696 1,623 3,279 (4,918)
202435,514 1,554 3,065 (4,278)
202528,586 1,478 2,202 (2,764)
202624,614 1,279 1,868 (2,464)
Thereafter86,384 4,089 7,179 (11,039)
$226,862 $10,511 $18,458 $(26,738)
Weighted average remaining amortization periods as of September 30, 2022 (in years)7.97.97.78.4
Total Intangible Assets and Below Market Lease Liabilities from Acquisition Activity
The following table sets forth the intangible assets acquired and below market lease liabilities assumed as a result of the acquisition of SIX50 at Legacy Union in Charlotte:

Acquisition-Related 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$4,722 $12,606 $(2,172)
Weighted average remaining amortization periods as of September 30, 2022 (in years)9.19.812.7
v3.22.2.2
Mortgages and Notes Payable (Tables)
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Consolidated Mortgages and Notes Payable
The following table sets forth our mortgages and notes payable:

September 30,
2022		December 31,
2021
Secured indebtedness$486,003 $491,942 
Unsecured indebtedness2,503,252 2,312,180 
Less-unamortized debt issuance costs(15,886)(15,207)
Total mortgages and notes payable, net$2,973,369 $2,788,915 
v3.22.2.2
Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments, Fair Value
The following table sets forth the fair value of our derivatives:

September 30,
2022		December 31,
2021
Derivatives:
Derivatives designated as cash flow hedges in accounts payable, accrued expenses and other liabilities:
Interest rate swaps$— $60 
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following table sets forth the effect of our cash flow hedges on accumulated other comprehensive loss and interest expense:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Derivatives Designated as Cash Flow Hedges:
Amount of unrealized losses recognized in accumulated other comprehensive loss on derivatives:
Interest rate swaps$— $(6)$— $(17)
Amount of (gains)/losses reclassified out of accumulated other comprehensive loss into interest expense:
Interest rate swaps$(75)$129 $(164)$377 
v3.22.2.2
Noncontrolling Interests (Tables) - Highwoods Properties, Inc. [Member]
 9 Months Ended
Sep. 30, 2022
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
September 30,		Nine Months Ended
September 30,
2022202120222021
Beginning noncontrolling interests in the Operating Partnership$84,583 $128,180 $111,689 $112,499 
Adjustment of noncontrolling interests in the Operating Partnership to fair value(16,952)(4,262)(42,480)11,072 
Conversions of Common Units to Common Stock— (234)(1,251)(278)
Redemptions of Common Units(3,101)— (3,101)— 
Net income attributable to noncontrolling interests in the Operating Partnership881 1,967 3,049 5,084 
Distributions to noncontrolling interests in the Operating Partnership(1,192)(1,418)(3,687)(4,144)
Total noncontrolling interests in the Operating Partnership$64,219 $124,233 $64,219 $124,233 
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net
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
September 30,		Nine Months Ended
September 30,
2022202120222021
Net income available for common stockholders$38,251 $72,105 $129,022 $185,869 
Increase in additional paid in capital from conversions of Common Units to Common Stock— 234 1,251 278 
Change from net income available for common stockholders and transfers from noncontrolling interests$38,251 $72,339 $130,273 $186,147 
v3.22.2.2
Disclosure About Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2022
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 2Level 3
TotalQuoted Prices
in Active
Markets for Identical Assets or Liabilities		Significant Observable InputsSignificant Unobservable Inputs
Fair Value at September 30, 2022:
Assets:
Mortgages and notes receivable, at fair value (1)
$1,103 $— $1,103 $— 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,364 2,364 — — 
Impaired real estate assets1,665 — — 1,665 
Total Assets$5,132 $2,364 $1,103 $1,665 
Noncontrolling Interests in the Operating Partnership$64,219 $64,219 $— $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$2,630,788 $— $2,630,788 $— 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,364 2,364 — — 
Total Liabilities
$2,633,152 $2,364 $2,630,788 $— 
Fair Value at December 31, 2021:
Assets:
Mortgages and notes receivable, at fair value (1)
$1,227 $— $1,227 $— 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,866 2,866 — — 
Total Assets$4,093 $2,866 $1,227 $— 
Noncontrolling Interests in the Operating Partnership$111,689 $111,689 $— $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$2,907,492 $— $2,907,492 $— 
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)
60 — 60 — 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,866 2,866 — — 
Total Liabilities
$2,910,418 $2,866 $2,907,552 $— 
__________
(1)    Amounts are not recorded at fair value on our Consolidated Balance Sheets at September 30, 2022 and December 31, 2021.
v3.22.2.2
Accumulated Other Comprehensive Loss (Tables)
 9 Months Ended
Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Components of Accumulated Other Comprehensive Loss
The following table sets forth the components of accumulated other comprehensive loss:

Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Cash flow hedges:
Beginning balance$(1,062)$(1,225)$(973)$(1,462)
Unrealized losses on cash flow hedges— (6)— (17)
Amortization of cash flow hedges (1)
(75)129 (164)377 
Total accumulated other comprehensive loss$(1,137)$(1,102)$(1,137)$(1,102)
__________
(1)    Amounts reclassified out of accumulated other comprehensive loss into interest expense.
v3.22.2.2
Real Estate and Other Assets Held For Sale (Tables)
 9 Months Ended
Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Real Estate and Other Assets of the Properties Classified As Held For Sale
The following table sets forth the assets held for sale at September 30, 2022 and December 31, 2021, which are considered non-core:

September 30,
2022		December 31,
2021
Assets:
Land held for development— $3,482 
Net real estate assets— 3,482 
Prepaid expenses and other assets, net— 36 
Real estate and other assets, net, held for sale$— $3,518 
v3.22.2.2
Earnings Per Share and Per Unit (Tables)
 9 Months Ended
Sep. 30, 2022
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
September 30,		Nine Months Ended
September 30,
2022202120222021
Earnings per Common Share - basic:
Numerator:
Net income$40,110 $75,587 $134,815 $194,286 
Net (income) attributable to noncontrolling interests in the Operating Partnership
(881)(1,967)(3,049)(5,084)
Net (income) attributable to noncontrolling interests in consolidated affiliates
(357)(894)(880)(1,469)
Dividends on Preferred Stock(621)(621)(1,864)(1,864)
Net income available for common stockholders$38,251 $72,105 $129,022 $185,869 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
105,184 104,277 105,094 104,117 
Net income available for common stockholders$0.36 $0.69 $1.23 $1.79 
Earnings per Common Share - diluted:
Numerator:
Net income$40,110 $75,587 $134,815 $194,286 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(357)(894)(880)(1,469)
Dividends on Preferred Stock(621)(621)(1,864)(1,864)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$39,132 $74,072 $132,071 $190,953 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
105,184 104,277 105,094 104,117 
Add:
Stock options using the treasury method— 25 7 17 
Noncontrolling interests Common Units2,417 2,837 2,469 2,838 
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions
107,601 107,139 107,570 106,972 
Net income available for common stockholders$0.36 $0.69 $1.23 $1.79 
__________
(1)Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.
Highwoods Realty Limited Partnership  
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
September 30,		Nine Months Ended
September 30,
2022202120222021
Earnings per Common Unit - basic:
Numerator:
Net income$40,110 $75,587 $134,815 $194,286 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(357)(894)(880)(1,469)
Distributions on Preferred Units(621)(621)(1,864)(1,864)
Net income available for common unitholders$39,132 $74,072 $132,071 $190,953 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
107,192 106,705 107,154 106,546 
Net income available for common unitholders$0.37 $0.69 $1.23 $1.79 
Earnings per Common Unit - diluted:
Numerator:
Net income$40,110 $75,587 $134,815 $194,286 
Net (income) attributable to noncontrolling interests in consolidated affiliates
(357)(894)(880)(1,469)
Distributions on Preferred Units(621)(621)(1,864)(1,864)
Net income available for common unitholders$39,132 $74,072 $132,071 $190,953 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
107,192 106,705 107,154 106,546 
Add:
Stock options using the treasury method— 25 7 17 
Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions
107,192 106,730 107,161 106,563 
Net income available for common unitholders$0.37 $0.69 $1.23 $1.79 
__________
(1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.
v3.22.2.2
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated
The following tables summarize the rental and other revenues and net operating income, the primary industry property-level performance metric used by our chief operating decision maker and which is defined as rental and other revenues less rental property and other expenses, for each of our reportable segments. Our segment information for the three and nine months ended September 30, 2021 has been retrospectively revised from previously reported amounts to reflect a change in our reportable segments as a result of our plan to exit the Pittsburgh market.

Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Rental and Other Revenues:
Office:
Atlanta$35,804 $36,672 $106,805 $108,385 
Charlotte18,825 14,313 52,643 32,364 
Nashville44,587 36,136 130,640 106,873 
Orlando13,634 12,852 40,298 38,141 
Raleigh45,220 42,471 137,051 117,168 
Richmond10,872 12,050 31,837 35,263 
Tampa23,590 23,856 71,169 74,166 
Total Office Segment192,532 178,350 570,443 512,360 
Other14,465 17,145 46,773 52,442 
Total Rental and Other Revenues$206,997 $195,495 $617,216 $564,802 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Net Operating Income:
Office:
Atlanta$22,524 $24,157 $69,472 $71,779 
Charlotte14,275 11,159 40,132 25,446 
Nashville33,154 27,355 97,093 78,172 
Orlando7,865 7,920 24,264 23,414 
Raleigh32,822 31,425 101,557 88,005 
Richmond7,112 7,805 21,700 24,092 
Tampa14,351 15,143 44,912 49,640 
Total Office Segment132,103 124,964 399,130 360,548 
Other8,560 9,964 27,961 31,272 
Total Net Operating Income140,663 134,928 427,091 391,820 
Reconciliation to net income:
Depreciation and amortization(73,057)(66,547)(212,466)(189,423)
Impairments of real estate assets(1,515)— (36,515)— 
General and administrative expenses(9,586)(10,350)(32,733)(30,409)
Interest expense(26,392)(21,986)(75,812)(60,755)
Other income138 424 621 1,068 
Gains on disposition of property9,402 38,572 63,546 80,371 
Equity in earnings of unconsolidated affiliates457 546 1,083 1,614 
Net income$40,110 $75,587 $134,815 $194,286 
v3.22.2.2
Description of Business and Significant Accounting Policies (Details)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
USD ($)
ft²
numberOfEntities
numberOfJointVentures
shares
Sep. 30, 2021
USD ($)
Sep. 30, 2022
USD ($)
ft²
numberOfEntities
numberOfJointVentures
$ / shares
shares
Sep. 30, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2021
Dec. 31, 2019
ft²
Description of Business [Abstract]              
Rentable square feet of commercial real estate properties (in sq feet) | ft² 28,100,000   28,100,000        
Rentable square feet of commercial real estate office properties under development (in sq feet) | ft² 1,400,000   1,400,000        
Rentable square feet of potential office build (in sq feet) | ft² 5,000,000   5,000,000        
Net proceeds of Common Stock sold during the period $ 362,000 $ 7,508,000 $ 4,797,000 $ 13,405,000      
VIE like-kind exchange agreement (in days) 180 days            
Number of VIE entities | numberOfEntities 4   4        
Self insurance liability $ 600,000   $ 600,000        
Pittsburgh Division Office [Member]              
Description of Business [Abstract]              
Rentable square feet of commercial real estate properties (in sq feet) | ft² 2,155,000   2,155,000        
Percentage of rentable square feet occupied (in hundredths) 90.30%   90.30%        
Percent of NOI (in hundredths) 6.00%   6.00%        
Dallas Joint Ventures [Member]              
Description of Business [Abstract]              
Number of joint ventures formed | numberOfJointVentures 2   2        
Percentage of equity interest in joint venture (in hundredths) 50.00%   50.00%        
Cash funded to acquire interest in joint venture $ 55,700,000   $ 55,700,000        
Granite Park Six [Member]              
Description of Business [Abstract]              
Rentable square feet of commercial real estate office properties under development (in sq feet) | ft² 422,000   422,000        
Percentage of equity interest in joint venture (in hundredths) 50.00%   50.00%        
Construction loan related to joint venture development $ 115,000,000   $ 115,000,000        
Interest rate cap with respect to construction loan 3.50%   3.50%        
Notional amount of borrowings, subject to cap $ 95,200,000   $ 95,200,000        
Granite Park Six [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate              
Description of Business [Abstract]              
Facility interest rate basis SOFR            
Interest rate, basis spread (in hundredths) 3.94%            
Granite Park Six [Member] | JV Construction Loan Outstanding, Granite Park 6 [Member]              
Description of Business [Abstract]              
Construction loan related to joint venture development $ 0   $ 0        
23Springs [Member]              
Description of Business [Abstract]              
Rentable square feet of commercial real estate office properties under development (in sq feet) | ft² 642,000   642,000        
Percentage of equity interest in joint venture (in hundredths) 50.00%   50.00%        
Construction loan related to joint venture development $ 265,000,000   $ 265,000,000        
Interest rate cap with respect to construction loan 3.50%   3.50%        
Notional amount of borrowings, subject to cap $ 83,000,000   $ 83,000,000        
23Springs [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate              
Description of Business [Abstract]              
Facility interest rate basis SOFR            
Interest rate, basis spread (in hundredths) 3.55%            
23Springs [Member] | JV Construction Loan Outstanding, 23Springs [Member]              
Description of Business [Abstract]              
Construction loan related to joint venture development $ 0   $ 0        
Highwoods Properties, Inc. [Member]              
Description of Business [Abstract]              
Common Units of partnership owned by the Company (in shares) | shares 104,800,000   104,800,000        
Percentage of ownership of Common Units (in hundredths) 97.80%   97.80%     97.70%  
Common Units redeemed for a like number of common shares of stock (in shares) | shares     30,909        
Common Units redeemed for cash (in shares) | shares     91,887        
Highwoods Properties, Inc. [Member] | ATM Equity Offering              
Description of Business [Abstract]              
Net proceeds of Common Stock sold during the period     $ 6,000,000        
Number of Common Stock sold during the period (in shares) | shares     130,011        
Average price of Common Stock sold during the period (in dollars per share) | $ / shares     $ 46.50        
Highwoods Properties, Inc. [Member] | ATM Equity Offering | Maximum [Member]              
Description of Business [Abstract]              
Net proceeds of Common Stock sold during the period         $ 300,000,000    
Highwoods Realty Limited Partnership              
Description of Business [Abstract]              
Common Units of partnership not owned by the Company (in shares) | shares 2,400,000   2,400,000        
Variable Interest Entity, Primary Beneficiary [Member]              
Description of Business [Abstract]              
Rentable square feet of commercial real estate office properties under development (in sq feet) | ft²             150,000
Number of VIE entities | numberOfEntities 1   1        
Variable Interest Entity, Non Primary Beneficiary [Member]              
Description of Business [Abstract]              
Number of VIE entities | numberOfEntities 3   3        
v3.22.2.2
Leases ASC 842 (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Lessor Disclosure [Abstract]        
Rental and other revenues related to operating lease payments $ 203.9 $ 192.3 $ 608.1 $ 554.6
Variable lease income $ 16.9 $ 13.7 $ 51.9 $ 42.7
Minimum [Member]        
Lessor Disclosure [Abstract]        
Operating leases, term of leases (in years) 3 years   3 years  
Maximum [Member]        
Lessor Disclosure [Abstract]        
Operating leases, term of leases (in years) 10 years   10 years  
v3.22.2.2
Variable Interest Entities (Details)
 9 Months Ended 12 Months Ended
Sep. 30, 2022
USD ($)
ft²
Sep. 30, 2021
USD ($)
Dec. 31, 2021
USD ($)
ft²
Dec. 31, 2019
USD ($)
ft²
Variable Interest Entities [Line Items]        
Total VIE assets $ 6,677,542,000   $ 6,489,544,000  
Total VIE liabilities 3,280,663,000   3,083,891,000  
Total VIE cash flows $ 319,879,000 $ 309,218,000    
Rentable square feet of office property under development (in sq feet) | ft² 1,400,000      
Assets and liabilities of consolidated variable interest entity [Abstract]        
Net real estate assets $ 5,115,168,000   5,032,033,000  
Cash and cash equivalents 23,055,000 $ 27,871,000 23,152,000  
Accounts receivable 24,589,000   14,002,000  
Accrued straight-line rents receivable 284,515,000   268,324,000  
Deferred leasing costs, net 255,831,000   258,902,000  
Prepaid expense and other assets, net 71,278,000   78,551,000  
Accounts payable, accrued expenses and other liabilities 307,294,000   $ 294,976,000  
2827 Peachtree JV VIE Not Primary Beneficiary [Member]        
Variable Interest Entities [Line Items]        
Rentable square feet of office property under development (in sq feet) | ft²     135,000  
Total anticipated development costs     $ 79,000,000  
Contribution of cash to acquire interest in joint venture     $ 13,300,000  
Interest in joint venture (in hundredths)     50.00%  
Advance to affiliate     $ 49,600,000  
Amount of loan funded to affiliate 0      
Term of optional extension     1 year  
Risk of loss limited to carrying value 13,700,000      
2827 Peachtree JV VIE Not Primary Beneficiary [Member] | London Interbank Offered Rate (LIBOR) [Member]        
Variable Interest Entities [Line Items]        
Variable interest rate basis     LIBOR  
Interest rate, basis spread (in hundredths)     3.00%  
Granite Park JV VIE Not Primary Beneficiary [Member]        
Variable Interest Entities [Line Items]        
Risk of loss limited to carrying value 36,100,000      
23Springs JV VIE Not Primary Beneficiary [Member]        
Variable Interest Entities [Line Items]        
Risk of loss limited to carrying value 37,900,000      
SIX50 at Legacy Acquisition VIE [Member]        
Variable Interest Entities [Line Items]        
Total VIE assets 200,600,000      
Total VIE liabilities 3,300,000      
Total VIE cash flows 500,000      
Midtown West Consolidated Variable Interest Entity [Member]        
Variable Interest Entities [Line Items]        
Rentable square feet of office property under development (in sq feet) | ft²       150,000
Total anticipated development costs       $ 71,300,000
Contribution of cash to acquire interest in joint venture       $ 20,000,000
Interest in joint venture (in hundredths)       80.00%
Advance to affiliate       $ 46,300,000
Amount of loan funded to affiliate 37,700,000      
Assets and liabilities of consolidated variable interest entity [Abstract]        
Net real estate assets 60,917,000   $ 53,191,000  
Cash and cash equivalents 1,246,000   389,000  
Accounts receivable 166,000   0  
Accrued straight-line rents receivable 720,000   121,000  
Deferred leasing costs, net 2,251,000   1,519,000  
Prepaid expense and other assets, net 160,000   163,000  
Accounts payable, accrued expenses and other liabilities $ 1,476,000   646,000  
Midtown West Consolidated Variable Interest Entity [Member] | London Interbank Offered Rate (LIBOR) [Member]        
Variable Interest Entities [Line Items]        
Variable interest rate basis       LIBOR
Interest rate, basis spread (in hundredths)       2.50%
Variable Interest Entity, Partner Interest [Member]        
Variable Interest Entities [Line Items]        
Partner's interest in joint venture (in hundredths) 20.00%      
Variable Interest Entity, Partner Interest [Member] | 2827 Peachtree JV VIE Not Primary Beneficiary [Member]        
Variable Interest Entities [Line Items]        
Contribution of cash to acquire interest in joint venture     5,600,000  
Partner's contribution of property to acquire interest in joint venture     $ 7,700,000  
Partner's interest in joint venture (in hundredths)     50.00%  
Variable Interest Entity, Partner Interest [Member] | Midtown West Consolidated Variable Interest Entity [Member]        
Variable Interest Entities [Line Items]        
Partner's contribution of property to acquire interest in joint venture       $ 5,000,000
Partner's interest in joint venture (in hundredths)       20.00%
v3.22.2.2
Real Estate Assets (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
USD ($)
ft²
Jun. 30, 2022
USD ($)
ft²
Mar. 31, 2022
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2022
USD ($)
ft²
Sep. 30, 2021
USD ($)
Acquisitions [Abstract]            
Rentable square feet of commercial real estate properties (in sq feet) | ft² 28,100,000       28,100,000  
Dispositions [Abstract]            
Gains on disposition of property $ 9,402     $ 38,572 $ 63,546 $ 80,371
Impairments [Abstract]            
Impairments of real estate assets $ 1,515     $ 0 $ 36,515 $ 0
Charlotte Building Acquisition            
Acquisitions [Abstract]            
Rentable square feet of commercial real estate properties (in sq feet) | ft² 367,000       367,000  
Acquisition purchase price $ 198,000          
Charlotte Land Acquisition [Member]            
Acquisitions [Abstract]            
Acquisition purchase price   $ 27,000        
2022 Dispositions [Member]            
Dispositions [Abstract]            
Sale price of real estate 23,300 100,700 $ 9,600      
Closing credits excluded   1,100        
Gains on disposition of property 9,400 $ 50,000 $ 4,100      
2022 Impairments            
Impairments [Abstract]            
Impairments of real estate assets $ 1,500          
EQT Plaza Impairment [Member]            
Acquisitions [Abstract]            
Rentable square feet of commercial real estate properties (in sq feet) | ft²   616,000        
Impairments [Abstract]            
Impairments of real estate assets   $ 35,000        
Square footage occupied by customer (in sq ft) | ft²   317,000        
v3.22.2.2
Intangible Assets and Below Market Lease Liabilities (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Assets:          
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets) $ 413,036   $ 413,036   $ 402,013
Deferred leasing costs, accumulated amortization (157,205)   (157,205)   (143,111)
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 255,831   255,831   258,902
Liabilities (in accounts payable, accrued expenses and other liabilities):          
Acquisition-related below market lease liabilities, gross 55,371   55,371   57,703
Acquisition-related below market lease liabilities, accumulated amortization (28,633)   (28,633)   (28,978)
Acquisition-related below market lease liabilities, net 26,738   26,738   $ 28,725
Amortization of intangible assets and below market lease liabilities [Abstract]          
Acquired intangible assets (amortized in rental and other revenue) 4,722   4,722    
Acquired intangible assets (amortized in depreciation and amortization) 12,606   12,606    
Assumed below market lease liabilities (amortized in rental and other revenue) (2,172)   (2,172)    
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 226,862   226,862    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of intangible assets 11,425 $ 10,070 33,603 $ 27,267  
Lease Incentives (in Rental and Other Revenues) [Member]          
Assets:          
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 10,511   10,511    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of intangible assets 500 424 1,369 1,317  
Acquisition-Related Intangible Assets (in Rental and Other Revenues) [Member]          
Assets:          
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 18,458   18,458    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of intangible assets 797 636 2,448 1,154  
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 26,738   26,738    
Amortization of intangible assets and below market lease liabilities [Abstract]          
Amortization of acquisition-related below market lease liabilities $ (1,473) $ (1,391) $ (4,159) $ (4,241)  
v3.22.2.2
Intangible Assets and Below Market Lease Liabilities - Scheduled Future Amortization (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Dec. 31, 2021
Scheduled future amortization of intangible assets [Abstract]    
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 255,831 $ 258,902
Scheduled future amortization of below market lease liabilities [Abstract]    
Total scheduled future amortization of acquisition-related below market lease liabilities (26,738) $ (28,725)
Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
October 1 through December 31, 2022 11,068  
2023 40,696  
2024 35,514  
2025 28,586  
2026 24,614  
Thereafter 86,384  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 226,862  
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 10 months 24 days  
Acquired intangible assets, weighted average useful life (in years) 9 years 9 months 18 days  
Lease Incentives (in Rental and Other Revenues) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
October 1 through December 31, 2022 $ 488  
2023 1,623  
2024 1,554  
2025 1,478  
2026 1,279  
Thereafter 4,089  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 10,511  
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 10 months 24 days  
Acquisition-Related Intangible Assets (in Rental and Other Revenues) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
October 1 through December 31, 2022 $ 865  
2023 3,279  
2024 3,065  
2025 2,202  
2026 1,868  
Thereafter 7,179  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 18,458  
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 intangible assets, weighted average useful life (in years) 9 years 1 month 6 days  
Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues) [Member]    
Scheduled future amortization of below market lease liabilities [Abstract]    
October 1 through December 31, 2022 $ (1,275)  
2023 (4,918)  
2024 (4,278)  
2025 (2,764)  
2026 (2,464)  
Thereafter (11,039)  
Total scheduled future amortization of acquisition-related below market lease liabilities $ (26,738)  
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) 8 years 4 months 24 days  
Assumed finite-lived below market lease liabilities, weighted average useful life (in years) 12 years 8 months 12 days  
v3.22.2.2
Mortgages and Notes Payable (Details)
 3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
Sep. 30, 2022
USD ($)
extension
Oct. 18, 2022
USD ($)
Oct. 17, 2022
USD ($)
Oct. 11, 2022
USD ($)
Dec. 31, 2021
USD ($)
Debt Instrument [Line Items]              
Mortgages and notes payable $ 2,973,369,000   $ 2,973,369,000       $ 2,788,915,000
Unamortized debt issuance costs $ (15,886,000)   (15,886,000)       (15,207,000)
Debt issuance costs   $ 2,700,000          
Maximum liquidity requirements 1 year            
Revolving Credit Facility [Member]              
Debt Instrument [Line Items]              
Maximum borrowing capacity on credit facility $ 750,000,000   750,000,000        
Additional borrowing capacity on revolving credit facility 400,000,000   $ 400,000,000        
Number of additional extensions | extension     2        
Term of optional extension     6 months        
Temporary reduction in interest rate due to sustainability goals (in hundredths)     0.01%        
Amount outstanding on revolving credit facility 110,000,000   $ 110,000,000        
Outstanding letters of credit on revolving credit facility 100,000   100,000        
Unused borrowing capacity on revolving credit facility 639,900,000   639,900,000        
Variable Rate Term Loan Due 2026              
Debt Instrument [Line Items]              
Principal amount of debt   $ 200,000,000          
Variable Rate Term Loan Due 2027              
Debt Instrument [Line Items]              
Temporary reduction in interest rate due to sustainability goals (in hundredths)   0.01%          
Principal amount of debt   $ 150,000,000          
Secured indebtedness [Member]              
Debt Instrument [Line Items]              
Mortgages and notes payable 486,003,000   486,003,000       491,942,000
Aggregate undepreciated book value of secured real estate assets 742,100,000   742,100,000        
Unsecured indebtedness [Member]              
Debt Instrument [Line Items]              
Mortgages and notes payable $ 2,503,252,000   $ 2,503,252,000       $ 2,312,180,000
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member]              
Debt Instrument [Line Items]              
Facility interest rate basis   LIBOR          
Interest rate, basis spread (in hundredths)   0.90%          
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | 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%        
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Variable Rate Term Loan Due 2027              
Debt Instrument [Line Items]              
Interest rate, basis spread (in hundredths)   0.95%          
Variable interest rate basis   SOFR          
SOFR Related Spread Adjustment [Member] | Revolving Credit Facility [Member]              
Debt Instrument [Line Items]              
Interest rate, basis spread (in hundredths)   0.10%          
SOFR Related Spread Adjustment [Member] | Variable Rate Term Loan Due 2027              
Debt Instrument [Line Items]              
Interest rate, basis spread (in hundredths)   0.10%          
Subsequent Event [Member] | Revolving Credit Facility [Member]              
Debt Instrument [Line Items]              
Additional borrowing capacity on revolving credit facility           $ 200,000,000  
Amount outstanding on revolving credit facility       $ 170,000,000      
Outstanding letters of credit on revolving credit facility       100,000      
Unused borrowing capacity on revolving credit facility       $ 579,900,000      
Subsequent Event [Member] | 3.625% (3.752% Effective Rate) Notes Due 2023              
Debt Instrument [Line Items]              
Principal amount of debt         $ 250,000,000    
v3.22.2.2
Derivative Financial Instruments (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Jun. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Derivatives, Fair Value [Line Items]            
Expected net decrease to interest expense $ (300)     $ (300)    
Derivatives designated as cash flow hedges in accounts payable, accrued expenses and other liabilities:            
Interest rate swaps 0     0   $ 60
Amount of unrealized losses recognized in accumulated other comprehensive loss on derivatives:            
Interest rate swaps 0   $ (6) 0 $ (17)  
Amount of (gains)/losses reclassified out of accumulated other comprehensive loss into interest expense:            
Interest rate swaps $ (75)   $ 129 $ (164) $ 377  
Floating to Fixed Interest Rate Swaps (2017) [Member]            
Derivatives, Fair Value [Line Items]            
Amount of borrowings outstanding, subject to swaps   $ 50,000        
Underlying treasury rate term (in years)   1 month        
Weighted average interest rate under derivative instruments (in hundredths)   1.693%        
v3.22.2.2
Noncontrolling Interests (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Noncontrolling Interests in the Operating Partnership [Roll Forward]        
Beginning noncontrolling interests in the Operating Partnership     $ 111,689  
Adjustment of noncontrolling interests in the Operating Partnership to fair value $ (16,952) $ (4,262) (42,480) $ 11,072
Conversions of Common Units to Common Stock   (234) (1,251) (278)
Redemption of Common Units     (3,101) 0
Net income attributable to noncontrolling interests in the Operating Partnership 881 1,967 3,049 5,084
Distributions to noncontrolling interests in the Operating Partnership     (3,687) (4,144)
Total noncontrolling interests in the Operating Partnership 64,219   64,219  
Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership [Abstract]        
Net income available for common stockholders 38,251 72,105 129,022 185,869
Highwoods Properties, Inc. [Member]        
Noncontrolling Interests in the Operating Partnership [Roll Forward]        
Beginning noncontrolling interests in the Operating Partnership 84,583 128,180 111,689 112,499
Adjustment of noncontrolling interests in the Operating Partnership to fair value (16,952) (4,262) (42,480) 11,072
Conversions of Common Units to Common Stock 0 (234) (1,251) (278)
Redemption of Common Units (3,101) 0 (3,101) 0
Net income attributable to noncontrolling interests in the Operating Partnership 881 1,967 3,049 5,084
Distributions to noncontrolling interests in the Operating Partnership (1,192) (1,418) (3,687) (4,144)
Total noncontrolling interests in the Operating Partnership 64,219 124,233 64,219 124,233
Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership [Abstract]        
Net income available for common stockholders 38,251 72,105 129,022 185,869
Increase in additional paid in capital from conversions of Common Units to Common Stock 0 234 1,251 278
Change from net income available for common stockholders and transfers from noncontrolling interests $ 38,251 $ 72,339 $ 130,273 $ 186,147
Richmond Joint Venture [Member]        
Noncontrolling Interests in Consolidated Affiliates [Abstract]        
Consolidated joint venture, partner's interest (in hundredths) 50.00%   50.00%  
Midtown One Joint Venture [Member]        
Noncontrolling Interests in Consolidated Affiliates [Abstract]        
Consolidated joint venture, partner's interest (in hundredths) 20.00%   20.00%  
v3.22.2.2
Disclosure About Fair Value of Financial Instruments - Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Sep. 30, 2022
Jun. 30, 2022
Dec. 31, 2021
Assets:      
Mortgages and notes receivable, at fair value $ 1,103   $ 1,227
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 2,364   2,866
Impaired real estate assets 1,665 $ 57,400  
Total Assets 5,132   4,093
Liabilities:      
Mortgages and notes payable, net, at fair value 2,630,788   2,907,492
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)     60
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 2,364   2,866
Total Liabilities 2,633,152   2,910,418
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) 2,364   2,866
Impaired real estate assets 0    
Total Assets 2,364   2,866
Liabilities:      
Mortgages and notes payable, net, at fair value 0   0
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)     0
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 2,364   2,866
Total Liabilities 2,364   2,866
Level 2 [Member]      
Assets:      
Mortgages and notes receivable, at fair value 1,103   1,227
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 0   0
Impaired real estate assets 0    
Total Assets 1,103   1,227
Liabilities:      
Mortgages and notes payable, net, at fair value 2,630,788   2,907,492
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)     60
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 0   0
Total Liabilities 2,630,788   2,907,552
Level 3 [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) 0   0
Impaired real estate assets 1,665    
Total Assets 1,665   0
Liabilities:      
Mortgages and notes payable, net, at fair value 0   0
Interest rate swaps (in accounts payable, accrued expenses and other liabilities)     0
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 0   0
Total Liabilities 0   0
Highwoods Properties, Inc. [Member]      
Assets:      
Noncontrolling Interests in the Operating Partnership 64,219   111,689
Highwoods Properties, Inc. [Member] | Level 1 [Member]      
Assets:      
Noncontrolling Interests in the Operating Partnership 64,219   111,689
Highwoods Properties, Inc. [Member] | Level 2 [Member]      
Assets:      
Noncontrolling Interests in the Operating Partnership 0   0
Highwoods Properties, Inc. [Member] | Level 3 [Member]      
Assets:      
Noncontrolling Interests in the Operating Partnership $ 0   $ 0
v3.22.2.2
Fair Value Measures and Disclosures - Fair Value Measurement Inputs and Valuation Techniques (Details) - USD ($)
$ in Thousands
Sep. 30, 2022
Jun. 30, 2022
Valuation Technique and Input [Abstract]    
Impaired real estate assets $ 1,665 $ 57,400
Measurement Input, Cost to Sell [Member]    
Valuation Technique and Input [Abstract]    
Impairment key assumption (in hundredths) 3.50%  
Measurement Input, Discount Rate [Member] | Minimum [Member]    
Valuation Technique and Input [Abstract]    
Impairment key assumption (in hundredths) 13.20%  
Measurement Input, Discount Rate [Member] | Maximum [Member]    
Valuation Technique and Input [Abstract]    
Impairment key assumption (in hundredths) 16.20%  
Measurement Input, Cap Rate [Member]    
Valuation Technique and Input [Abstract]    
Impairment key assumption (in hundredths) 8.00%  
v3.22.2.2
Share-Based Payments (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation expense $ 700 $ 1,900 $ 6,843 $ 6,751
Total unrecognized share-based compensation costs $ 4,300   $ 4,300  
Weighted average remaining contractual term for recognition of unrecognized share-based compensation costs (in years)     2 years  
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)     99,975  
Weighted average grant date fair value of each restricted stock share granted (in dollars per share)     $ 43.58  
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)     81,832  
Weighted average grant date fair value of each restricted stock share granted (in dollars per share)     $ 41.94  
v3.22.2.2
Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Accumulated Other Comprehensive Loss Calculation [Roll Forward]        
Beginning balance $ (1,062) $ (1,225) $ (973) $ (1,462)
Unrealized losses on cash flow hedges 0 (6) 0 (17)
Amortization of cash flow hedges (75) 129 (164) 377
Total accumulated other comprehensive loss $ (1,137) $ (1,102) $ (1,137) $ (1,102)
v3.22.2.2
Real Estate and Other Assets Held For Sale (Details) - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Real Estate and Other Assets Held For Sale [Abstract]    
Land held for development $ 0 $ 3,482
Net real estate assets 0 3,482
Prepaid expenses and other assets, net 0 36
Real estate and other assets, net, held for sale $ 0 $ 3,518
v3.22.2.2
Earnings Per Share and Per Unit (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Earnings per Common Share and Per Unit - basic: [Abstract]        
Net income $ 40,110 $ 75,587 $ 134,815 $ 194,286
Net (income) attributable to noncontrolling interests in the Operating Partnership (881) (1,967) (3,049) (5,084)
Net (income) attributable to noncontrolling interests in consolidated affiliates (357) (894) (880) (1,469)
Dividends on Preferred Stock (621) (621) (1,864) (1,864)
Net income available for common stockholders $ 38,251 $ 72,105 $ 129,022 $ 185,869
Denominator:        
Denominator for basic earnings per Common Share - weighted average shares (in shares) 105,184 104,277 105,094 104,117
Earnings per Common Share - basic:        
Net income available for common stockholders (in dollars per share) $ 0.36 $ 0.69 $ 1.23 $ 1.79
Earnings per Common Share and Per Unit - diluted: [Abstract]        
Net income $ 40,110 $ 75,587 $ 134,815 $ 194,286
Net (income) attributable to noncontrolling interests in consolidated affiliates (357) (894) (880) (1,469)
Dividends on Preferred Stock (621) (621) (1,864) (1,864)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership $ 39,132 $ 74,072 $ 132,071 $ 190,953
Denominator:        
Denominator for basic earnings per Common Share - weighted average shares (in shares) 105,184 104,277 105,094 104,117
Stock options using the treasury method (in shares) 0 25 7 17
Noncontrolling interests Common Units (in shares) 2,417 2,837 2,469 2,838
Denominator for diluted earnings per Common Share - adjusted weighted average shares and assumed conversions (in shares) 107,601 107,139 107,570 106,972
Earnings per Common Share - diluted:        
Net income available for common stockholders (in dollars per share) $ 0.36 $ 0.69 $ 1.23 $ 1.79
Highwoods Realty Limited Partnership        
Earnings per Common Share and Per Unit - basic: [Abstract]        
Net income $ 40,110 $ 75,587 $ 134,815 $ 194,286
Net (income) attributable to noncontrolling interests in consolidated affiliates (357) (894) (880) (1,469)
Distributions on Preferred Units (621) (621) (1,864) (1,864)
Net income available for common unitholders $ 39,132 $ 74,072 $ 132,071 $ 190,953
Denominator:        
Denominator for basic earnings per Common Unit - weighted average units (in shares) 107,192 106,705 107,154 106,546
Earnings per Common Unit - basic:        
Net income available for common unitholders (in dollars per share) $ 0.37 $ 0.69 $ 1.23 $ 1.79
Earnings per Common Share and Per Unit - diluted: [Abstract]        
Net income $ 40,110 $ 75,587 $ 134,815 $ 194,286
Net (income) attributable to noncontrolling interests in consolidated affiliates (357) (894) (880) (1,469)
Distributions on Preferred Units (621) (621) (1,864) (1,864)
Net income available for common unitholders $ 39,132 $ 74,072 $ 132,071 $ 190,953
Denominator:        
Denominator for basic earnings per Common Unit - weighted average units (in shares) 107,192 106,705 107,154 106,546
Stock options using the treasury method (in shares) 0 25 7 17
Denominator for diluted earnings per Common Unit - adjusted weighted average units and assumed conversions (in shares) 107,192 106,730 107,161 106,563
Earnings per Common Unit - diluted:        
Net income available for common unitholders (in dollars per share) $ 0.37 $ 0.69 $ 1.23 $ 1.79
v3.22.2.2
Segment Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues $ 206,997 $ 195,495 $ 617,216 $ 564,802
Total Net Operating Income 140,663 134,928 427,091 391,820
Reconciliation to net income:        
Depreciation and amortization (73,057) (66,547) (212,466) (189,423)
Impairments of real estate assets (1,515) 0 (36,515) 0
General and administrative expenses (9,586) (10,350) (32,733) (30,409)
Interest expense (26,392) (21,986) (75,812) (60,755)
Other income 138 424 621 1,068
Gains on disposition of property 9,402 38,572 63,546 80,371
Equity in earnings of unconsolidated affiliates 457 546 1,083 1,614
Net income 40,110 75,587 134,815 194,286
Total Office Segment [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 192,532 178,350 570,443 512,360
Total Net Operating Income 132,103 124,964 399,130 360,548
Office Atlanta, GA [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 35,804 36,672 106,805 108,385
Total Net Operating Income 22,524 24,157 69,472 71,779
Office Charlotte, NC [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 18,825 14,313 52,643 32,364
Total Net Operating Income 14,275 11,159 40,132 25,446
Office Nashville, TN [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 44,587 36,136 130,640 106,873
Total Net Operating Income 33,154 27,355 97,093 78,172
Office Orlando, FL [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 13,634 12,852 40,298 38,141
Total Net Operating Income 7,865 7,920 24,264 23,414
Office Raleigh, NC [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 45,220 42,471 137,051 117,168
Total Net Operating Income 32,822 31,425 101,557 88,005
Office Richmond, VA [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 10,872 12,050 31,837 35,263
Total Net Operating Income 7,112 7,805 21,700 24,092
Office Tampa, FL [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 23,590 23,856 71,169 74,166
Total Net Operating Income 14,351 15,143 44,912 49,640
Other [Member]        
Segment Reporting Information [Line Items]        
Total Rental and Other Revenues 14,465 17,145 46,773 52,442
Total Net Operating Income $ 8,560 $ 9,964 $ 27,961 $ 31,272
v3.22.2.2
Subsequent Events (Details) - USD ($)
 3 Months Ended 6 Months Ended 9 Months Ended
Oct. 20, 2022
Oct. 11, 2022
Sep. 30, 2022
Sep. 30, 2021
Jun. 30, 2022
Sep. 30, 2022
Sep. 30, 2021
Oct. 17, 2022
Highwoods Properties, Inc. [Member]                
Subsequent Event [Line Items]                
Dividends declared per share of Common Stock (in dollars per share)     $ 0.50 $ 0.50   $ 1.50 $ 1.46  
Revolving Credit Facility [Member]                
Subsequent Event [Line Items]                
Maximum borrowing capacity on credit facility     $ 750,000,000     $ 750,000,000    
Additional borrowing capacity on revolving credit facility     $ 400,000,000     $ 400,000,000    
Term of optional extension           6 months    
Temporary reduction in interest rate due to sustainability goals (in hundredths)           0.01%    
Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate                
Subsequent Event [Line Items]                
Interest rate, basis spread (in hundredths)         0.85%      
Revolving Credit Facility [Member] | SOFR Related Spread Adjustment [Member]                
Subsequent Event [Line Items]                
Interest rate, basis spread (in hundredths)         0.10%      
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] | Variable Rate Term Loan Due 2024                
Subsequent Event [Line Items]                
Principal amount of debt   $ 200,000,000           $ 200,000,000
Term of debt instrument (in years)   2 years            
Term of optional extension   1 year            
Temporary reduction in interest rate due to sustainability goals (in hundredths)   0.01%            
Subsequent Event [Member] | Variable Rate Term Loan Due 2024 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate                
Subsequent Event [Line Items]                
Variable interest rate basis   SOFR            
Interest rate, basis spread (in hundredths)   0.95%            
Subsequent Event [Member] | Variable Rate Term Loan Due 2024 | SOFR Related Spread Adjustment [Member]                
Subsequent Event [Line Items]                
Interest rate, basis spread (in hundredths)   0.10%            
Subsequent Event [Member] | Revolving Credit Facility [Member]                
Subsequent Event [Line Items]                
Additional borrowing capacity on revolving credit facility   $ 200,000,000            
Subsequent Event [Member] | 3.625% (3.752% Effective Rate) Notes Due 2023                
Subsequent Event [Line Items]                
Principal amount of debt               $ 250,000,000
Stated interest rate (in hundredths)               3.625%