HIGHWOODS PROPERTIES, INC., 10-Q filed on 4/29/2025
Quarterly Report
v3.25.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2025
Apr. 22, 2025
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2025  
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, $.01 par value, of Highwoods Properties, Inc.  
Trading Symbol HIW  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   107,810,610
Entity Central Index Key 0000921082  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Highwoods Realty Limited Partnership    
Entity Information [Line Items]    
Entity Registrant Name HIGHWOODS REALTY LIMITED PARTNERSHIP  
Entity Incorporation, State or Country Code NC  
Entity File Number 000-21731  
Entity Tax Identification Number 56-1869557  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0000941713  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.25.1
HPI - Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Real estate assets, at cost:    
Land $ 573,607 $ 570,286
Buildings and tenant improvements 5,898,670 5,826,603
Land held for development 232,644 221,048
Total real estate assets 6,704,921 6,617,937
Less-accumulated depreciation (1,799,642) (1,796,586)
Net real estate assets 4,905,279 4,821,351
Real estate and other assets, net, held for sale 0 55,409
Cash and cash equivalents 20,107 22,412
Restricted cash 19,407 11,265
Accounts receivable 28,795 28,287
Mortgages and notes receivable 6,241 11,064
Accrued straight-line rents receivable 311,704 308,853
Investments in and advances to unconsolidated affiliates 492,090 485,726
Deferred leasing costs, net of accumulated amortization of $161,824 and $170,312, respectively 224,425 209,967
Prepaid expenses and other assets, net of accumulated depreciation of $21,845 and $20,626, respectively 67,188 75,021
Total Assets 6,075,236 6,029,355
Liabilities, Noncontrolling Interests in the Operating Partnership and Equity:    
Mortgages and notes payable, net 3,338,492 3,293,559
Accounts payable, accrued expenses and other liabilities 257,963 304,551
Total Liabilities 3,596,455 3,598,110
Commitments and contingencies
Noncontrolling interests in the Operating Partnership 63,759 65,791
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), 28,811 shares issued and outstanding 28,811 28,811
Common Stock, $.01 par value, 200,000,000 authorized shares; 107,810,629 and 107,623,777 shares issued and outstanding, respectively 1,078 1,076
Additional paid-in capital 3,150,235 3,144,130
Distributions in excess of net income available for common stockholders (766,979) (810,608)
Accumulated other comprehensive loss (2,308) (2,246)
Total Stockholders’ Equity 2,410,837 2,361,163
Noncontrolling interests in consolidated affiliates 4,185 4,291
Total Equity/Capital 2,415,022 2,365,454
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital $ 6,075,236 $ 6,029,355
v3.25.1
HPI - Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Assets:    
Deferred leasing costs, accumulated amortization $ 161,824 $ 170,312
Prepaid expenses and other assets, accumulated depreciation $ 21,845 $ 20,626
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) 28,811 28,811
Series A Preferred Stock, shares outstanding (in shares) 28,811 28,811
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) 107,810,629 107,623,777
Common Stock, shares outstanding (in shares) 107,810,629 107,623,777
v3.25.1
HRLP - Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Real estate assets, at cost:    
Land $ 573,607 $ 570,286
Buildings and tenant improvements 5,898,670 5,826,603
Land held for development 232,644 221,048
Total real estate assets 6,704,921 6,617,937
Less-accumulated depreciation (1,799,642) (1,796,586)
Net real estate assets 4,905,279 4,821,351
Real estate and other assets, net, held for sale 0 55,409
Cash and cash equivalents 20,107 22,412
Restricted cash 19,407 11,265
Accounts receivable 28,795 28,287
Mortgages and notes receivable 6,241 11,064
Accrued straight-line rents receivable 311,704 308,853
Investments in and advances to unconsolidated affiliates 492,090 485,726
Deferred leasing costs, net of accumulated amortization of $161,824 and $170,312, respectively 224,425 209,967
Prepaid expenses and other assets, net of accumulated depreciation of $21,845 and $20,626, respectively 67,188 75,021
Total Assets 6,075,236 6,029,355
Liabilities, Redeemable Operating Partnership Units and Capital:    
Mortgages and notes payable, net 3,338,492 3,293,559
Accounts payable, accrued expenses and other liabilities 257,963 304,551
Total Liabilities 3,596,455 3,598,110
Commitments and contingencies
Capital:    
Accumulated other comprehensive loss (2,308) (2,246)
Noncontrolling interests in consolidated affiliates 4,185 4,291
Total Equity/Capital 2,415,022 2,365,454
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital 6,075,236 6,029,355
Highwoods Realty Limited Partnership    
Real estate assets, at cost:    
Land 573,607 570,286
Buildings and tenant improvements 5,898,670 5,826,603
Land held for development 232,644 221,048
Total real estate assets 6,704,921 6,617,937
Less-accumulated depreciation (1,799,642) (1,796,586)
Net real estate assets 4,905,279 4,821,351
Real estate and other assets, net, held for sale 0 55,409
Cash and cash equivalents 20,107 22,412
Restricted cash 19,407 11,265
Accounts receivable 28,795 28,287
Mortgages and notes receivable 6,241 11,064
Accrued straight-line rents receivable 311,704 308,853
Investments in and advances to unconsolidated affiliates 492,090 485,726
Deferred leasing costs, net of accumulated amortization of $161,824 and $170,312, respectively 224,425 209,967
Prepaid expenses and other assets, net of accumulated depreciation of $21,845 and $20,626, respectively 67,188 75,021
Total Assets 6,075,236 6,029,355
Liabilities, Redeemable Operating Partnership Units and Capital:    
Mortgages and notes payable, net 3,338,492 3,293,559
Accounts payable, accrued expenses and other liabilities 257,963 304,551
Total Liabilities 3,596,455 3,598,110
Commitments and contingencies
Redeemable Operating Partnership Units:    
Common Units, 2,151,097 and 2,151,423 outstanding, respectively 63,759 65,791
Series A Preferred Units (liquidation preference $1,000 per unit), 28,811 units issued and outstanding 28,811 28,811
Total Redeemable Operating Partnership Units 92,570 94,602
Capital:    
General partner Common Units, 1,095,529 and 1,093,664 outstanding, respectively 23,842 23,345
Limited partner Common Units, 106,306,291 and 106,121,304 outstanding, respectively 2,360,492 2,311,253
Accumulated other comprehensive loss (2,308) (2,246)
Noncontrolling interests in consolidated affiliates 4,185 4,291
Total Equity/Capital 2,386,211 2,336,643
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital $ 6,075,236 $ 6,029,355
v3.25.1
HRLP - Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets:    
Deferred leasing costs, accumulated amortization $ 161,824 $ 170,312
Prepaid expenses and other assets, accumulated depreciation 21,845 20,626
Highwoods Realty Limited Partnership    
Assets:    
Deferred leasing costs, accumulated amortization 161,824 170,312
Prepaid expenses and other assets, accumulated depreciation $ 21,845 $ 20,626
Redeemable Operating Partnership Units: [Abstract]    
Redeemable Common Units outstanding (in shares) 2,151,097 2,151,423
Series A Preferred Units, liquidation preference (in dollars per share) $ 1,000 $ 1,000
Series A Preferred Units, issued (in shares) 28,811 28,811
Series A Preferred Units, outstanding (in shares) 28,811 28,811
Common Units: [Abstract]    
General partners' capital account, units outstanding (in shares) 1,095,529 1,093,664
Limited partners' capital account, units outstanding (in shares) 106,306,291 106,121,304
v3.25.1
HPI - Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Statement [Abstract]    
Rental and other revenues $ 200,383 $ 211,275
Operating expenses:    
Rental property and other expenses 65,034 70,435
Depreciation and amortization 71,405 73,671
General and administrative 12,457 12,499
Total operating expenses 148,896 156,605
Interest expense 36,642 36,552
Other income 1,625 1,232
Gains on disposition of property 82,215 7,209
Equity in earnings of unconsolidated affiliates 1,315 654
Net income 100,000 27,213
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,956) (533)
Net loss attributable to noncontrolling interests in consolidated affiliates 26 5
Dividends on Preferred Stock (621) (621)
Net income available for common stockholders $ 97,449 $ 26,064
Earnings per Common Share – basic:    
Net income available for common stockholders (in dollars per share) $ 0.91 $ 0.25
Weighted average Common Shares outstanding - basic (in shares) 107,683 105,804
Earnings per Common Share - diluted:    
Net income available for common stockholders (in dollars per share) $ 0.91 $ 0.25
Weighted average Common Shares outstanding - diluted (in shares) 109,834 107,958
v3.25.1
HRLP - Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Rental and other revenues $ 200,383 $ 211,275
Operating expenses:    
Rental property and other expenses 65,034 70,435
Depreciation and amortization 71,405 73,671
General and administrative 12,457 12,499
Total operating expenses 148,896 156,605
Interest expense 36,642 36,552
Other income 1,625 1,232
Gains on disposition of property 82,215 7,209
Equity in earnings of unconsolidated affiliates 1,315 654
Net income 100,000 27,213
Net loss attributable to noncontrolling interests in consolidated affiliates 26 5
Highwoods Realty Limited Partnership    
Rental and other revenues 200,383 211,275
Operating expenses:    
Rental property and other expenses 65,034 70,435
Depreciation and amortization 71,405 73,671
General and administrative 12,457 12,499
Total operating expenses 148,896 156,605
Interest expense 36,642 36,552
Other income 1,625 1,232
Gains on disposition of property 82,215 7,209
Equity in earnings of unconsolidated affiliates 1,315 654
Net income 100,000 27,213
Net loss attributable to noncontrolling interests in consolidated affiliates 26 5
Distributions on Preferred Units (621) (621)
Net income available for common unitholders $ 99,405 $ 26,597
Earnings per Common Unit - basic:    
Net income available for common unitholders (in dollars per share) $ 0.91 $ 0.25
Weighted average Common Units outstanding - basic (in shares) 109,425 107,549
Earnings per Common Unit - diluted:    
Net income available for common unitholders (in dollars per share) $ 0.91 $ 0.25
Weighted average Common Units outstanding - diluted (in shares) 109,425 107,549
v3.25.1
HPI - Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Comprehensive income:    
Net income $ 100,000 $ 27,213
Other comprehensive loss:    
Amortization of cash flow hedges (62) (62)
Total other comprehensive loss (62) (62)
Total comprehensive income 99,938 27,151
Less-comprehensive (income) attributable to noncontrolling interests (1,930) (528)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders $ 98,008 $ 26,623
v3.25.1
HRLP - Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Comprehensive income:    
Net income $ 100,000 $ 27,213
Other comprehensive loss:    
Amortization of cash flow hedges (62) (62)
Other comprehensive loss (62) (62)
Total comprehensive income 99,938 27,151
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates (1,930) (528)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders 98,008 26,623
Highwoods Realty Limited Partnership    
Comprehensive income:    
Net income 100,000 27,213
Other comprehensive loss:    
Amortization of cash flow hedges (62) (62)
Other comprehensive loss (62) (62)
Total comprehensive income 99,938 27,151
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 26 5
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders $ 99,964 $ 27,156
v3.25.1
HPI - Consolidated Statements of Equity - USD ($)
$ in Thousands
Total
Highwoods Realty Limited Partnership
Highwoods Realty Limited Partnership
General Partners' Common Units [Member]
Highwoods Realty Limited Partnership
Limited Partners' Common Units [Member]
Highwoods Realty Limited Partnership
Accumulated Other Comprehensive Income (Loss) [Member]
Highwoods Realty Limited Partnership
Noncontrolling Interests in Consolidated Affiliates [Member]
Common Stock [Member]
Series A Cumulative Redeemable Preferred Shares [Member]
Additional Paid-in Capital [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Noncontrolling Interests in Consolidated Affiliates [Member]
Distributions in Excess of Net Income Available for Common Stockholders [Member]
Balance (in shares) at Dec. 31, 2023             105,710,315          
Balance at Dec. 31, 2023 $ 2,438,022 $ 2,409,211 $ 24,064 $ 2,382,419 $ (1,997) $ 4,725 $ 1,057 $ 28,811 $ 3,103,446 $ (1,997) $ 4,725 $ (698,020)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuances of Common Stock, net of issuance costs and tax withholdings - shares             (44,396)          
Issuances of Common Stock, net of issuance costs and tax withholdings (1,064)           $ 0   (1,064)      
Conversions of Common Units to Common Stock - Shares             5,385          
Conversions of Common Units to Common Stock 132               132      
Dividends on Common Stock (52,871)                     (52,871)
Dividends on Preferred Stock (621)                     (621)
Adjustment of noncontrolling interests in the Operating Partnership to fair value (7,479)               (7,479)      
Issuances of restricted stock - shares             324,320          
Issuances of restricted stock 0                      
Share-based compensation expense, net of forfeitures - shares             0          
Share-based compensation expense, net of forfeitures 4,833 4,833 48 4,785     $ 3   4,830      
Net (income) attributable to noncontrolling interests in the Operating Partnership (533)                     (533)
Net loss attributable to noncontrolling interests in consolidated affiliates 0 0 0 5   (5)         (5) 5
Comprehensive income:                        
Net income 27,213 27,213 272 26,941               27,213
Other comprehensive loss (62) (62)     (62)         (62)    
Total comprehensive income 27,151 27,151                    
Balance (in shares) at Mar. 31, 2024             105,995,624          
Balance at Mar. 31, 2024 $ 2,407,570 2,378,759 23,760 2,352,338 (2,059) 4,720 $ 1,060 28,811 3,099,865 (2,059) 4,720 (724,827)
Balance (in shares) at Dec. 31, 2024 107,623,777           107,623,777          
Balance at Dec. 31, 2024 $ 2,365,454 2,336,643 23,345 2,311,253 (2,246) 4,291 $ 1,076 28,811 3,144,130 (2,246) 4,291 (810,608)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuances of Common Stock, net of issuance costs and tax withholdings - shares             (55,036)          
Issuances of Common Stock, net of issuance costs and tax withholdings (1,762)           $ 0   (1,762)      
Conversions of Common Units to Common Stock 0                      
Dividends on Common Stock (53,820)                     (53,820)
Dividends on Preferred Stock (621)                     (621)
Adjustment of noncontrolling interests in the Operating Partnership to fair value 2,902               2,902      
Distributions to noncontrolling interests in consolidated affiliates (80) (80)       (80)         (80)  
Issuances of restricted stock - shares             241,888          
Issuances of restricted stock 0                      
Share-based compensation expense, net of forfeitures - shares             0          
Share-based compensation expense, net of forfeitures 4,967 4,967 50 4,917     $ 2   4,965      
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,956)                     (1,956)
Net loss attributable to noncontrolling interests in consolidated affiliates 0 0 0 26   (26)         (26) 26
Comprehensive income:                        
Net income 100,000 100,000 1,000 99,000               100,000
Other comprehensive loss (62) (62)     (62)         (62)    
Total comprehensive income $ 99,938 99,938                    
Balance (in shares) at Mar. 31, 2025 107,810,629           107,810,629          
Balance at Mar. 31, 2025 $ 2,415,022 $ 2,386,211 $ 23,842 $ 2,360,492 $ (2,308) $ 4,185 $ 1,078 $ 28,811 $ 3,150,235 $ (2,308) $ 4,185 $ (766,979)
v3.25.1
HPI - Consolidated Statements of Equity (Parentheticals) - Highwoods Properties, Inc. [Member] - $ / shares
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dividends on Common Stock (per share) $ 0.50 $ 0.50
Series A Cumulative Redeemable Preferred Shares [Member]    
Dividends on Preferred Stock (per share) $ 21.5625 $ 21.5625
v3.25.1
HRLP - Consolidated Statements of Capital - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance $ 2,365,454 $ 2,438,022
Share-based compensation expense, net of forfeitures 4,967 4,833
Distributions to noncontrolling interests in consolidated affiliates (80)  
Net loss attributable to noncontrolling interests in consolidated affiliates 0 0
Comprehensive income:    
Net income 100,000 27,213
Other comprehensive loss (62) (62)
Total comprehensive income 99,938 27,151
Balance 2,415,022 2,407,570
Highwoods Realty Limited Partnership    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance 2,336,643 2,409,211
Issuances of Common Units, net of issuance costs and tax withholdings (1,762) (1,064)
Redemption of Common Units (10)  
Distributions on Common Units (54,691) (53,742)
Distributions on Preferred Units (621) (621)
Share-based compensation expense, net of forfeitures 4,967 4,833
Distributions to noncontrolling interests in consolidated affiliates (80)  
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner 1,827 (7,009)
Net loss attributable to noncontrolling interests in consolidated affiliates 0 0
Comprehensive income:    
Net income 100,000 27,213
Other comprehensive loss (62) (62)
Total comprehensive income 99,938 27,151
Balance 2,386,211 2,378,759
General Partners' Common Units [Member] | Highwoods Realty Limited Partnership    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance 23,345 24,064
Issuances of Common Units, net of issuance costs and tax withholdings (18) (11)
Redemption of Common Units 0  
Distributions on Common Units (547) (537)
Distributions on Preferred Units (6) (6)
Share-based compensation expense, net of forfeitures 50 48
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner 18 (70)
Net loss attributable to noncontrolling interests in consolidated affiliates 0 0
Comprehensive income:    
Net income 1,000 272
Balance 23,842 23,760
Limited Partners' Common Units [Member] | Highwoods Realty Limited Partnership    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance 2,311,253 2,382,419
Issuances of Common Units, net of issuance costs and tax withholdings (1,744) (1,053)
Redemption of Common Units (10)  
Distributions on Common Units (54,144) (53,205)
Distributions on Preferred Units (615) (615)
Share-based compensation expense, net of forfeitures 4,917 4,785
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner 1,809 (6,939)
Net loss attributable to noncontrolling interests in consolidated affiliates 26 5
Comprehensive income:    
Net income 99,000 26,941
Balance 2,360,492 2,352,338
Accumulated Other Comprehensive Income (Loss) [Member] | Highwoods Realty Limited Partnership    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance (2,246) (1,997)
Comprehensive income:    
Other comprehensive loss (62) (62)
Balance (2,308) (2,059)
Noncontrolling Interests in Consolidated Affiliates [Member] | Highwoods Realty Limited Partnership    
Increase (Decrease) in Partners' Capital [Roll Forward]    
Balance 4,291 4,725
Distributions to noncontrolling interests in consolidated affiliates (80)  
Net loss attributable to noncontrolling interests in consolidated affiliates (26) (5)
Comprehensive income:    
Balance $ 4,185 $ 4,720
v3.25.1
HRLP - Consolidated Statements of Capital (Parentheticals) - Highwoods Realty Limited Partnership - $ / shares
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Distributions on Common Units (per unit) $ 0.50 $ 0.50
Series A Cumulative Redeemable Preferred Shares [Member]    
Distributions on Preferred Units (per unit) $ 21.5625 $ 21.5625
v3.25.1
HPI - Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net income $ 100,000 $ 27,213
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 71,405 73,671
Amortization of lease incentives and acquisition-related intangible assets and liabilities 491 351
Share-based compensation expense 4,967 4,833
Net credit losses/(reversals) on operating lease receivables 556 (140)
Accrued interest on mortgages and notes receivable (178) (125)
Amortization of debt issuance costs 1,404 1,381
Amortization of cash flow hedges (62) (62)
Amortization of mortgages and notes payable fair value adjustments 28 28
Losses on debt extinguishment 0 173
Net gains on disposition of property (82,215) (7,209)
Equity in earnings of unconsolidated affiliates (1,315) (654)
Distributions of earnings from unconsolidated affiliates 1,942 977
Changes in operating assets and liabilities:    
Accounts receivable 1,587 (3,651)
Prepaid expenses and other assets (2,092) (2,116)
Accrued straight-line rents receivable (3,144) (3,218)
Accounts payable, accrued expenses and other liabilities (47,050) (19,042)
Net cash provided by operating activities 46,324 72,410
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (137,828) 0
Investments in development in-process 0 (2,558)
Investments in tenant improvements and deferred leasing costs (25,304) (29,088)
Investments in building improvements (11,038) (8,989)
Net proceeds from disposition of real estate assets 137,779 16,249
Distributions of capital from unconsolidated affiliates 941 963
Investments in mortgages and notes receivable (1,577) (6,229)
Repayments of mortgages and notes receivable 6,320 16
Investments in and advances to unconsolidated affiliates (8,191) (30,869)
Changes in earnest money deposits 10,000 0
Changes in other investing activities 1,689 (1,180)
Net cash used in investing activities (27,209) (61,685)
Financing activities:    
Dividends on Common Stock (53,820) (52,871)
Redemptions of Common Units (10) 0
Dividends on Preferred Stock (621) (621)
Distributions to noncontrolling interests in the Operating Partnership (1,076) (1,076)
Distributions to noncontrolling interest in consolidated affiliates (80) 0
Proceeds from the issuance of Common Stock 411 363
Costs paid for the issuance of Common Stock (164) 0
Repurchase of shares related to tax withholdings (2,009) (1,427)
Borrowings on revolving credit facility 185,000 75,000
Repayments of revolving credit facility (139,000) (25,000)
Repayments of mortgages and notes payable (1,909) (1,727)
Payments for debt issuance costs and other financing activities 0 (7,648)
Net cash used in financing activities (13,278) (15,007)
Net increase/(decrease) in cash and cash equivalents and restricted cash 5,837 (4,282)
Cash and cash equivalents and restricted cash at beginning of the period 33,677 31,569
Cash and cash equivalents and restricted cash at end of the period 39,514 27,287
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 20,107 16,422
Restricted cash at end of the period 19,407 10,865
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 50,530 36,772
Supplemental disclosure of non-cash investing and financing activities:    
Conversions of Common Units to Common Stock 0 132
Changes in accrued capital expenditures [1] (4,059) 5,734
Write-off of fully depreciated real estate assets 34,243 19,549
Write-off of fully amortized leasing costs 18,674 4,691
Write-off of fully amortized debt issuance costs 0 4,083
Adjustment of noncontrolling interests in the Operating Partnership to fair value (2,902) 7,479
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 48,800 $ 61,300
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities as of March 31, 2025 and 2024 were $48.8 million and $61.3 million, respectively.
v3.25.1
HRLP - Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net income $ 100,000 $ 27,213
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 71,405 73,671
Amortization of lease incentives and acquisition-related intangible assets and liabilities 491 351
Share-based compensation expense 4,967 4,833
Net credit losses/(reversals) on operating lease receivables 556 (140)
Accrued interest on mortgages and notes receivable (178) (125)
Amortization of debt issuance costs 1,404 1,381
Amortization of cash flow hedges (62) (62)
Amortization of mortgages and notes payable fair value adjustments 28 28
Losses on debt extinguishment 0 173
Net gains on disposition of property (82,215) (7,209)
Equity in earnings of unconsolidated affiliates (1,315) (654)
Distributions of earnings from unconsolidated affiliates 1,942 977
Changes in operating assets and liabilities:    
Accounts receivable 1,587 (3,651)
Prepaid expenses and other assets (2,092) (2,116)
Accrued straight-line rents receivable (3,144) (3,218)
Accounts payable, accrued expenses and other liabilities (47,050) (19,042)
Net cash provided by operating activities 46,324 72,410
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (137,828) 0
Investments in development in-process 0 (2,558)
Investments in tenant improvements and deferred leasing costs (25,304) (29,088)
Investments in building improvements (11,038) (8,989)
Net proceeds from disposition of real estate assets 137,779 16,249
Distributions of capital from unconsolidated affiliates 941 963
Investments in mortgages and notes receivable (1,577) (6,229)
Repayments of mortgages and notes receivable 6,320 16
Investments in and advances to unconsolidated affiliates (8,191) (30,869)
Changes in earnest money deposits 10,000 0
Changes in other investing activities 1,689 (1,180)
Net cash used in investing activities (27,209) (61,685)
Financing activities:    
Redemptions of Common Units (10) 0
Distributions to noncontrolling interest in consolidated affiliates (80) 0
Borrowings on revolving credit facility 185,000 75,000
Repayments of revolving credit facility (139,000) (25,000)
Repayments of mortgages and notes payable (1,909) (1,727)
Payments for debt issuance costs and other financing activities 0 (7,648)
Net cash used in financing activities (13,278) (15,007)
Net increase/(decrease) in cash and cash equivalents and restricted cash 5,837 (4,282)
Cash and cash equivalents and restricted cash at beginning of the period 33,677 31,569
Cash and cash equivalents and restricted cash at end of the period 39,514 27,287
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 20,107 16,422
Restricted cash at end of the period 19,407 10,865
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 50,530 36,772
Supplemental disclosure of non-cash investing and financing activities:    
Changes in accrued capital expenditures [1] (4,059) 5,734
Write-off of fully depreciated real estate assets 34,243 19,549
Write-off of fully amortized leasing costs 18,674 4,691
Write-off of fully amortized debt issuance costs 0 4,083
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities 48,800 61,300
Highwoods Realty Limited Partnership    
Operating activities:    
Net income 100,000 27,213
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 71,405 73,671
Amortization of lease incentives and acquisition-related intangible assets and liabilities 491 351
Share-based compensation expense 4,967 4,833
Net credit losses/(reversals) on operating lease receivables 556 (140)
Accrued interest on mortgages and notes receivable (178) (125)
Amortization of debt issuance costs 1,404 1,381
Amortization of cash flow hedges (62) (62)
Amortization of mortgages and notes payable fair value adjustments 28 28
Losses on debt extinguishment 0 173
Net gains on disposition of property (82,215) (7,209)
Equity in earnings of unconsolidated affiliates (1,315) (654)
Distributions of earnings from unconsolidated affiliates 1,942 977
Changes in operating assets and liabilities:    
Accounts receivable 1,587 (3,651)
Prepaid expenses and other assets (2,092) (2,116)
Accrued straight-line rents receivable (3,144) (3,218)
Accounts payable, accrued expenses and other liabilities (47,050) (19,042)
Net cash provided by operating activities 46,324 72,410
Investing activities:    
Investments in acquired real estate and related intangible assets, net of cash acquired (137,828) 0
Investments in development in-process 0 (2,558)
Investments in tenant improvements and deferred leasing costs (25,304) (29,088)
Investments in building improvements (11,038) (8,989)
Net proceeds from disposition of real estate assets 137,779 16,249
Distributions of capital from unconsolidated affiliates 941 963
Investments in mortgages and notes receivable (1,577) (6,229)
Repayments of mortgages and notes receivable 6,320 16
Investments in and advances to unconsolidated affiliates (8,191) (30,869)
Changes in earnest money deposits 10,000 0
Changes in other investing activities 1,689 (1,180)
Net cash used in investing activities (27,209) (61,685)
Financing activities:    
Distributions on Common Units (54,691) (53,742)
Redemptions of Common Units (10) 0
Distributions on Preferred Units (621) (621)
Distributions to noncontrolling interest in consolidated affiliates (80) 0
Proceeds from the issuance of Common Units 411 363
Costs paid for the issuance of Common Units (164) 0
Repurchase of units related to tax withholdings (2,009) (1,427)
Borrowings on revolving credit facility 185,000 75,000
Repayments of revolving credit facility (139,000) (25,000)
Repayments of mortgages and notes payable (1,909) (1,727)
Payments for debt issuance costs and other financing activities (205) (7,853)
Net cash used in financing activities (13,278) (15,007)
Net increase/(decrease) in cash and cash equivalents and restricted cash 5,837 (4,282)
Cash and cash equivalents and restricted cash at beginning of the period 33,677 31,569
Cash and cash equivalents and restricted cash at end of the period 39,514 27,287
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at end of the period 20,107 16,422
Restricted cash at end of the period 19,407 10,865
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 50,530 36,772
Supplemental disclosure of non-cash investing and financing activities:    
Changes in accrued capital expenditures [1] (4,059) 5,734
Write-off of fully depreciated real estate assets 34,243 19,549
Write-off of fully amortized leasing costs 18,674 4,691
Write-off of fully amortized debt issuance costs 0 4,083
Adjustment of Redeemable Common Units to fair value (2,032) 6,804
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities $ 48,800 $ 61,300
[1] Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities as of March 31, 2025 and 2024 were $48.8 million and $61.3 million, respectively.
v3.25.1
Description of Business and Significant Accounting Policies
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business and Significant Accounting Policies Description of Business and Significant Accounting Policies
Description of Business

Highwoods Properties, Inc. (the “Company”) is a fully integrated office real estate investment trust (“REIT”) that owns, develops, acquires, leases and manages properties primarily in the best business districts of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa. The Company conducts its activities through Highwoods Realty Limited Partnership (the “Operating Partnership”). As of March 31, 2025, we owned or had an interest in 27.4 million rentable square feet of in-service properties, 1.4 million rentable square feet of office properties under development and development land with approximately 4.9 million rentable square feet of potential office build out.

Capital Structure

The Company is the sole general partner of the Operating Partnership. As of March 31, 2025, the Company owned all of the Preferred Units and 107.4 million, or 98.0%, of the Common Units in the Operating Partnership. Limited partners owned the remaining 2.2 million Common Units. During the three months ended March 31, 2025, the Company redeemed 326 Common Units for cash.

Under our existing equity distribution agreements, the Company may offer and sell up to $300.0 million in aggregate gross sales price of shares of Common Stock. During the three months ended March 31, 2025, there were no shares of Common Stock issued under these agreements.

Basis of Presentation

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

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

As of March 31, 2025, we are involved with six entities we determined to be variable interest entities, one of which we are the primary beneficiary and is consolidated and five of which we are not the primary beneficiary and are not consolidated.

All intercompany transactions and accounts have been eliminated.

In the opinion of management, the unaudited interim Consolidated Financial Statements and accompanying unaudited consolidated financial information contain all adjustments (including normal recurring accruals) necessary for a fair presentation of our financial position, results of operations and cash flows. We have condensed or omitted certain notes and other information from the interim Consolidated Financial Statements presented in this Quarterly Report as permitted by SEC rules and regulations. These Consolidated Financial Statements should be read in conjunction with our 2024 Annual Report on Form 10-K.
Use of Estimates

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

Insurance

We are primarily self-insured for health care claims for participating employees. To limit our exposure to significant claims, we have stop-loss coverage on a per claim and annual aggregate basis. We use all relevant information to determine our liabilities for claims, including actuarial estimates of claim liabilities. When determining our liabilities, we include claims for incurred losses, even if they are unreported. As of March 31, 2025, a reserve of $0.4 million was recorded to cover estimated reported and unreported claims.

Recently Issued Accounting Standards

The Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) that requires enhanced segment disclosures, primarily regarding significant segment expenses. We have adopted this ASU and applied the new requirements retrospectively to all prior periods presented in the financial statements. Accordingly, our segment disclosures now include rental property and other expenses for each of our reportable segments. See Note 12.

The FASB issued an ASU that requires disaggregated disclosure of income statement expenses. Certain expense captions will be disaggregated into specified categories in disclosures within the Notes to Consolidated Financial Statements. The ASU is required to be adopted starting with our 2027 Annual Report on Form 10-K. We do not expect this adoption will have a material effect on our Consolidated Financial Statements.
v3.25.1
Leases
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Leases Leases
Operating Leases

We generally lease our office properties to lessees in exchange for fixed monthly payments that cover rent, property taxes, insurance and certain cost recoveries, primarily common area maintenance. Our office properties that are under lease are primarily located in Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa and are leased to a wide variety of lessees across many industries. Our leases are operating leases and mostly range from three to 10 years. We recognized rental and other revenues related to operating lease payments of $196.5 million and $207.8 million during the three months ended March 31, 2025 and 2024, respectively. Included in these amounts were variable lease payments of $16.9 million and $22.5 million during the three months ended March 31, 2025 and 2024, respectively.
v3.25.1
Investments in and Advances to Affiliates
 3 Months Ended
Mar. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Investments in and Advances to Affiliates Investments in and Advances to Affiliates
Unconsolidated Affiliates

- Granite Park Six JV, LLC/ GPI 23 Springs JV, LLC (“Granite Park Six and 23Springs joint ventures”)

We are developing the Granite Park Six and 23Springs buildings in Dallas as part of two joint ventures with Granite Properties (“Granite”). We own a 50.0% interest in each of these two joint ventures. We 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 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 were not sufficient to finance the planned investments and operations. We concluded that 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.

As of March 31, 2025, our risk of loss with respect to these arrangements was limited to the carrying value of each investment balance. Our investment balances were $76.4 million and $102.9 million as of March 31, 2025 for the Granite Park Six and 23Springs joint ventures, 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.

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

We own the McKinney & Olive building in Dallas as part of a joint venture with Granite in which we own a 50.0% interest. As part of the original acquisition of McKinney & Olive, the McKinney & Olive joint venture assumed a secured loan recorded at fair value of $137.0 million, with a stated interest rate of 4.5% and an effective interest rate of 5.3%. We determined that we have a variable interest in the McKinney & Olive joint venture primarily because the entity was designed to pass along interest rate risk, equity price risk and operation risk to us and Granite as equity holders. The McKinney & Olive joint venture was further determined to be a variable interest entity as it required additional subordinated financial support in the form of the secured mortgage loan because the initial equity investments by us and Granite were not sufficient to finance its planned investments and operations. The secured mortgage loan was subsequently paid in full at maturity during 2024. We concluded that we do not have the power to direct matters that most significantly impact the activities of the entity and therefore do not qualify as the primary beneficiary. Accordingly, the entity is not consolidated.

As of March 31, 2025, our risk of loss with respect to this arrangement was limited to the carrying value of our investment balance of $183.3 million. The assets of the McKinney & Olive joint venture can be used only to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets.

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

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

As of March 31, 2025, our risk of loss with respect to this arrangement was $39.0 million, which consists of the $13.9 million carrying value of our investment balance plus the $25.1 million outstanding balance of the loan we have provided to the joint venture. The outstanding balance on the loan is recorded in investments in and advances to unconsolidated affiliates on our Consolidated Balance Sheets. The assets of the Midtown East joint venture can be used only to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets.
- Brand/HRLP 2827 Peachtree LLC (“2827 Peachtree joint venture”)

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

As of March 31, 2025, our risk of loss with respect to this arrangement was $60.7 million, which consists of the $12.4 million carrying value of our investment balance plus the $48.3 million outstanding balance of the loan we have provided to the joint venture. The outstanding balance on the loan is recorded in investments in and advances to unconsolidated affiliates on our Consolidated Balance Sheets. The assets of the 2827 Peachtree joint venture can be used only to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets.

Consolidated Affiliate

- HRLP MTW, LLC (“Midtown West joint venture”)

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

The following table sets forth the assets and liabilities of the Midtown West joint venture included on our Consolidated Balance Sheets:
March 31,
2025		December 31,
2024
Net real estate assets$57,943 $58,443 
Cash and cash equivalents$1,517 $1,530 
Accrued straight-line rents receivable$5,318 $5,192 
Deferred leasing costs, net$2,508 $2,596 
Prepaid expenses and other assets, net$183 $104 
Mortgages and notes payable, net$44,261 $44,325 
Accounts payable, accrued expenses and other liabilities$1,502 $1,297 
The assets of the Midtown West joint venture can be used only to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets.
v3.25.1
Real Estate Assets
 3 Months Ended
Mar. 31, 2025
Real Estate [Abstract]  
Real Estate Assets Real Estate Assets
Acquisitions

During the first quarter of 2025, we acquired Advance Auto Parts Tower, a 346,000 square foot office building in Raleigh, for a total purchase price, including capitalized acquisition costs, of $137.9 million. The assets acquired and liabilities assumed were recorded at fair value as determined by management based on information available at the acquisition date and on current assumptions as to future operations.

Dispositions
During the first quarter of 2025, we sold three buildings in Tampa and land in Pittsburgh for an aggregate sales price of $146.3 million and recorded aggregate net gains on disposition of property of $82.2 million.
v3.25.1
Intangible Assets and Below Market Lease Liabilities
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Below Market Lease Liabilities Intangible Assets and Below Market Lease Liabilities
The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:

March 31,
2025		December 31,
2024
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)$386,249 $380,279 
Less accumulated amortization(161,824)(170,312)
$224,425 $209,967 
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities$31,178 $37,482 
Less accumulated amortization(15,744)(21,296)
$15,434 $16,186 

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

Three Months Ended
March 31,
20252024
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)$9,004 $9,645 
Amortization of lease incentives (in rental and other revenues)$645 $693 
Amortization of acquisition-related above market lease intangible assets (in rental and other revenues)$598 $802 
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)$(752)$(1,144)
The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:

Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization)Amortization of Lease Incentives (in Rental and Other Revenues)Amortization of Acquisition-Related Above Market Lease Intangible Assets (in Rental and Other Revenues)Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
April 1 through December 31, 2025$28,253 $1,766 $1,833 $(1,973)
202633,590 2,120 2,161 (2,431)
202729,328 1,884 1,680 (2,062)
202825,322 1,675 1,544 (1,649)
202922,549 1,388 1,432 (1,377)
Thereafter59,894 4,426 3,580 (5,942)
$198,936 $13,259 $12,230 $(15,434)
Weighted average remaining amortization periods as of March 31, 2025 (in years)7.37.86.97.9

The following table sets forth the intangible assets acquired as a result of the acquisition of Advance Auto Parts Tower in the first quarter of 2025:

Acquisition-Related Above Market Lease Intangible Assets (amortized in Rental and Other Revenues)Acquisition-Related Intangible Assets (amortized in Depreciation and Amortization)
Amount recorded at acquisition$1,656 $16,445 
Weighted average remaining amortization periods as of March 31, 2025 (in years)8.38.0
v3.25.1
Mortgages and Notes Payable
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Mortgages and Notes Payable Mortgages and Notes Payable
The following table sets forth our mortgages and notes payable:

March 31,
2025		December 31,
2024
Secured indebtedness$709,901 $712,186 
Unsecured indebtedness2,642,220 2,595,815 
Less-unamortized debt issuance costs(13,629)(14,442)
Total mortgages and notes payable, net$3,338,492 $3,293,559 

As of March 31, 2025, our secured mortgage loans were collateralized by real estate assets with an undepreciated book value of $1,233.6 million.

Our $750.0 million unsecured revolving credit facility is scheduled to mature in January 2028 (but can be extended for two additional six-month periods at our option assuming no defaults have occurred). The interest rate on our revolving credit facility is SOFR plus a related spread adjustment of 10 basis points and a borrowing spread of 85 basis points, based on current credit ratings. The annual facility fee is 20 basis points. The interest rate and facility fee are based on the higher of the publicly announced ratings from Moody’s Investors Service or Standard & Poor’s Ratings Services. The interest rate may be adjusted upward or downward by 2.5 basis points depending upon whether or not we achieve certain pre-determined sustainability goals with respect to the ongoing reduction of greenhouse gas emissions. There was $150.0 million and $145.0 million outstanding under our revolving credit facility as of March 31, 2025 and April 22, 2025, respectively. As of both March 31, 2025 and April 22, 2025, we had $0.1 million of outstanding letters of credit, which reduce the availability on our revolving credit facility. As a result, the unused capacity of our revolving credit facility as of March 31, 2025 and April 22, 2025 was $599.9 million and $604.9 million, respectively.

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

We have considered our short-term liquidity needs within one year from April 29, 2025 (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. Importantly, we have no scheduled debt maturities during such one-year period. 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.
v3.25.1
Noncontrolling Interests
 3 Months Ended
Mar. 31, 2025
Noncontrolling Interest [Abstract]  
Noncontrolling Interests Noncontrolling Interests
Noncontrolling Interests in Consolidated Affiliates

As of March 31, 2025, our noncontrolling interest in consolidated affiliates relates to our joint venture partner's 20.0% interest in the Midtown West joint venture. Our joint venture partner is an unrelated third party.

Noncontrolling Interests in the Operating Partnership

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

Three Months Ended
March 31,
20252024
Beginning noncontrolling interests in the Operating Partnership$65,791 $49,520 
Adjustment of noncontrolling interests in the Operating Partnership to fair value(2,902)7,479 
Conversions of Common Units to Common Stock— (132)
Redemptions of Common Units(10)— 
Net income attributable to noncontrolling interests in the Operating Partnership1,956 533 
Distributions to noncontrolling interests in the Operating Partnership(1,076)(1,076)
Total noncontrolling interests in the Operating Partnership$63,759 $56,324 

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

Three Months Ended
March 31,
20252024
Net income available for common stockholders$97,449 $26,064 
Increase in additional paid in capital from conversions of Common Units to Common Stock— 132 
Redemptions of Common Units10 — 
Change from net income available for common stockholders and transfers from noncontrolling interests$97,459 $26,196 
v3.25.1
Disclosure About Fair Value of Financial Instruments
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Disclosure About Fair Value of Financial Instruments Disclosure About Fair Value of Financial Instruments
The following summarizes the levels of inputs that we use to measure fair value.

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

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

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

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

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

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

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

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

Level 1Level 2Level 3
TotalQuoted Prices
in Active
Markets for Identical Assets or Liabilities		Significant Observable InputsSignificant Unobservable Inputs
Fair Value as of March 31, 2025:
Assets:
Mortgages and notes receivable, at fair value (1)
$6,241 $— $6,241 $— 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
1,513 1,513 — — 
Total Assets$7,754 $1,513 $6,241 $— 
Noncontrolling Interests in the Operating Partnership$63,759 $63,759 $— $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$3,177,593 $— $3,177,593 $— 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
1,513 1,513 — — 
Total Liabilities
$3,179,106 $1,513 $3,177,593 $— 
Fair Value as of December 31, 2024:
Assets:
Mortgages and notes receivable, at fair value (1)
$11,064 $— $11,064 $— 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,295 2,295 — — 
Impaired real estate assets
26,740 — — 26,740 
Total Assets$40,099 $2,295 $11,064 $26,740 
Noncontrolling Interests in the Operating Partnership$65,791 $65,791 $— $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$3,097,323 $— $3,097,323 $— 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,295 2,295 — — 
Total Liabilities
$3,099,618 $2,295 $3,097,323 $— 
__________
(1)    Amounts are not recorded at fair value on our Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024.
v3.25.1
Share-Based Payments
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Payments Share-Based Payments
During the three months ended March 31, 2025, the Company granted 125,036 shares of time-based restricted stock and 116,852 shares of total return-based restricted stock with weighted average grant date fair values per share of $29.13 and $30.41, respectively. We recorded share-based compensation expense of $5.0 million and $4.8 million during the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025, there was $6.3 million of total unrecognized share-based compensation costs, which will be recognized over a weighted average remaining contractual term of 2.6 years.
v3.25.1
Real Estate and Other Assets Held For Sale
 3 Months Ended
Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Real Estate and Other Assets Held For Sale Real Estate and Other Assets Held For Sale
The following table sets forth our assets held for sale, which are considered non-core:

March 31,
2025		December 31,
2024
Assets:
Land$— $6,232 
Buildings and tenant improvements— 98,081 
Less-accumulated depreciation— (58,511)
Net real estate assets— 45,802 
Accrued straight-line rents receivable— 6,581 
Deferred leasing costs, net— 2,784 
Prepaid expenses and other assets, net— 242 
Real estate and other assets, net, held for sale$— $55,409 
v3.25.1
Earnings Per Share and Per Unit
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share and Per Unit Earnings Per Share and Per Unit
The following table sets forth the computation of basic and diluted earnings per share of the Company:

Three Months Ended
March 31,
20252024
Earnings per Common Share - basic:
Numerator:
Net income$100,000 $27,213 
Net (income) attributable to noncontrolling interests in the Operating Partnership
(1,956)(533)
Net loss attributable to noncontrolling interests in consolidated affiliates 26 5 
Dividends on Preferred Stock(621)(621)
Net income available for common stockholders$97,449 $26,064 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
107,683 105,804 
Net income available for common stockholders$0.91 $0.25 
Earnings per Common Share - diluted:
Numerator:
Net income$100,000 $27,213 
Net loss attributable to noncontrolling interests in consolidated affiliates26 5 
Dividends on Preferred Stock(621)(621)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$99,405 $26,597 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
107,683 105,804 
Add:
Noncontrolling interests Common Units2,151 2,154 
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions
109,834 107,958 
Net income available for common stockholders$0.91 $0.25 
__________
(1)Includes all unvested restricted stock where dividends on such restricted stock are non-forfeitable.
The following table sets forth the computation of basic and diluted earnings per unit of the Operating Partnership:

Three Months Ended
March 31,
20252024
Earnings per Common Unit - basic:
Numerator:
Net income$100,000 $27,213 
Net loss attributable to noncontrolling interests in consolidated affiliates26 5 
Distributions on Preferred Units(621)(621)
Net income available for common unitholders$99,405 $26,597 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
109,425 107,549 
Net income available for common unitholders$0.91 $0.25 
Earnings per Common Unit - diluted:
Numerator:
Net income$100,000 $27,213 
Net loss attributable to noncontrolling interests in consolidated affiliates26 5 
Distributions on Preferred Units(621)(621)
Net income available for common unitholders$99,405 $26,597 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
109,425 107,549 
Net income available for common unitholders$0.91 $0.25 
__________
(1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.
v3.25.1
Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Our principal business is the operation, acquisition and development of rental office properties. We evaluate our business by geographic location, which is why our primary geographic locations are included as reportable segments below. The operating results by geographic grouping are regularly reviewed by our chief operating decision maker for assessing performance and other purposes. Our chief executive officer is our chief operating decision maker. There are no material inter-segment transactions.
Our accounting policies of the segments are the same as those used in our Consolidated Financial Statements. All operations are within the United States.
The following tables summarize rental and other revenues, rental property and other expenses and net operating income for each of our reportable segments. Net operating income is the primary industry property-level performance metric used by our chief operating decision maker and is defined as rental and other revenues less rental property and other expenses. Our chief operating decision maker uses net operating income to help assess segment performance and decide how to allocate resources accordingly.

Three Months Ended
March 31,
20252024
Rental and other revenues:
Atlanta$35,594 $36,443 
Charlotte22,056 21,717 
Nashville39,544 45,038 
Orlando14,296 14,776 
Raleigh44,494 45,178 
Richmond9,178 9,001 
Tampa22,712 24,579 
Rental and other revenues for reportable segments187,874 196,732 
Other12,509 14,543 
Total rental and other revenues200,383 211,275 
Rental property and other expenses:
Atlanta14,368 13,823 
Charlotte5,841 5,789 
Nashville11,357 13,732 
Orlando5,542 5,608 
Raleigh11,733 13,092 
Richmond3,003 2,684 
Tampa8,609 9,091 
Rental property and other expenses for reportable segments60,453 63,819 
Other4,581 6,616 
Total rental property and other expenses65,034 70,435 
Net operating income:
Atlanta21,226 22,620 
Charlotte16,215 15,928 
Nashville28,187 31,306 
Orlando8,754 9,168 
Raleigh32,761 32,086 
Richmond6,175 6,317 
Tampa14,103 15,488 
Net operating income for reportable segments127,421 132,913 
Other7,928 7,927 
Total net operating income$135,349 $140,840 
Three Months Ended
March 31,
20252024
Reconciliation to net income:
Depreciation and amortization$(71,405)$(73,671)
General and administrative expenses(12,457)(12,499)
Interest expense(36,642)(36,552)
Other income1,625 1,232 
Gains on disposition of property82,215 7,209 
Equity in earnings of unconsolidated affiliates1,315 654 
Net income$100,000 $27,213 
v3.25.1
Subsequent Events
 3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On April 23, 2025, the Company declared a cash dividend of $0.50 per share of Common Stock, which is payable on June 10, 2025 to stockholders of record as of May 19, 2025.
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.1
Description of Business and Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation

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

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

As of March 31, 2025, we are involved with six entities we determined to be variable interest entities, one of which we are the primary beneficiary and is consolidated and five of which we are not the primary beneficiary and are not consolidated.

All intercompany transactions and accounts have been eliminated.

In the opinion of management, the unaudited interim Consolidated Financial Statements and accompanying unaudited consolidated financial information contain all adjustments (including normal recurring accruals) necessary for a fair presentation of our financial position, results of operations and cash flows. We have condensed or omitted certain notes and other information from the interim Consolidated Financial Statements presented in this Quarterly Report as permitted by SEC rules and regulations. These Consolidated Financial Statements should be read in conjunction with our 2024 Annual Report on Form 10-K.
Use of Estimates
Use of Estimates

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

The Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) that requires enhanced segment disclosures, primarily regarding significant segment expenses. We have adopted this ASU and applied the new requirements retrospectively to all prior periods presented in the financial statements. Accordingly, our segment disclosures now include rental property and other expenses for each of our reportable segments. See Note 12.

The FASB issued an ASU that requires disaggregated disclosure of income statement expenses. Certain expense captions will be disaggregated into specified categories in disclosures within the Notes to Consolidated Financial Statements. The ASU is required to be adopted starting with our 2027 Annual Report on Form 10-K. We do not expect this adoption will have a material effect on our Consolidated Financial Statements.
v3.25.1
Variable Interest Entities (Tables)
 3 Months Ended
Mar. 31, 2025
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:
March 31,
2025		December 31,
2024
Net real estate assets$57,943 $58,443 
Cash and cash equivalents$1,517 $1,530 
Accrued straight-line rents receivable$5,318 $5,192 
Deferred leasing costs, net$2,508 $2,596 
Prepaid expenses and other assets, net$183 $104 
Mortgages and notes payable, net$44,261 $44,325 
Accounts payable, accrued expenses and other liabilities$1,502 $1,297 
v3.25.1
Intangible Assets and Below Market Lease Liabilities (Tables)
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Total Intangible Assets and Below Market Lease Liabilities
The following table sets forth total intangible assets and acquisition-related below market lease liabilities, net of accumulated amortization:

March 31,
2025		December 31,
2024
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)$386,249 $380,279 
Less accumulated amortization(161,824)(170,312)
$224,425 $209,967 
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities$31,178 $37,482 
Less accumulated amortization(15,744)(21,296)
$15,434 $16,186 
Amortization of Intangible Assets and Below Market Lease Liabilities
The following table sets forth amortization of intangible assets and below market lease liabilities:

Three Months Ended
March 31,
20252024
Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization)$9,004 $9,645 
Amortization of lease incentives (in rental and other revenues)$645 $693 
Amortization of acquisition-related above market lease intangible assets (in rental and other revenues)$598 $802 
Amortization of acquisition-related below market lease liabilities (in rental and other revenues)$(752)$(1,144)
Scheduled Future Amortization of Intangible Assets and Below Market Lease Liabilities
The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities:

Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization)Amortization of Lease Incentives (in Rental and Other Revenues)Amortization of Acquisition-Related Above Market Lease Intangible Assets (in Rental and Other Revenues)Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues)
April 1 through December 31, 2025$28,253 $1,766 $1,833 $(1,973)
202633,590 2,120 2,161 (2,431)
202729,328 1,884 1,680 (2,062)
202825,322 1,675 1,544 (1,649)
202922,549 1,388 1,432 (1,377)
Thereafter59,894 4,426 3,580 (5,942)
$198,936 $13,259 $12,230 $(15,434)
Weighted average remaining amortization periods as of March 31, 2025 (in years)7.37.86.97.9
Total Intangible Assets from Acquisition Activity
The following table sets forth the intangible assets acquired as a result of the acquisition of Advance Auto Parts Tower in the first quarter of 2025:

Acquisition-Related Above Market Lease Intangible Assets (amortized in Rental and Other Revenues)Acquisition-Related Intangible Assets (amortized in Depreciation and Amortization)
Amount recorded at acquisition$1,656 $16,445 
Weighted average remaining amortization periods as of March 31, 2025 (in years)8.38.0
v3.25.1
Mortgages and Notes Payable (Tables)
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Consolidated Mortgages and Notes Payable
The following table sets forth our mortgages and notes payable:

March 31,
2025		December 31,
2024
Secured indebtedness$709,901 $712,186 
Unsecured indebtedness2,642,220 2,595,815 
Less-unamortized debt issuance costs(13,629)(14,442)
Total mortgages and notes payable, net$3,338,492 $3,293,559 
v3.25.1
Noncontrolling Interests (Tables) - Highwoods Properties, Inc. [Member]
 3 Months Ended
Mar. 31, 2025
Noncontrolling Interest [Line Items]  
Noncontrolling Interests in the Operating Partnership
The following table sets forth the Company’s noncontrolling interests in the Operating Partnership:

Three Months Ended
March 31,
20252024
Beginning noncontrolling interests in the Operating Partnership$65,791 $49,520 
Adjustment of noncontrolling interests in the Operating Partnership to fair value(2,902)7,479 
Conversions of Common Units to Common Stock— (132)
Redemptions of Common Units(10)— 
Net income attributable to noncontrolling interests in the Operating Partnership1,956 533 
Distributions to noncontrolling interests in the Operating Partnership(1,076)(1,076)
Total noncontrolling interests in the Operating Partnership$63,759 $56,324 
Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership
The following table sets forth net income available for common stockholders and transfers from the Company’s noncontrolling interests in the Operating Partnership:

Three Months Ended
March 31,
20252024
Net income available for common stockholders$97,449 $26,064 
Increase in additional paid in capital from conversions of Common Units to Common Stock— 132 
Redemptions of Common Units10 — 
Change from net income available for common stockholders and transfers from noncontrolling interests$97,459 $26,196 
v3.25.1
Disclosure About Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2025
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 as of March 31, 2025:
Assets:
Mortgages and notes receivable, at fair value (1)
$6,241 $— $6,241 $— 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
1,513 1,513 — — 
Total Assets$7,754 $1,513 $6,241 $— 
Noncontrolling Interests in the Operating Partnership$63,759 $63,759 $— $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$3,177,593 $— $3,177,593 $— 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
1,513 1,513 — — 
Total Liabilities
$3,179,106 $1,513 $3,177,593 $— 
Fair Value as of December 31, 2024:
Assets:
Mortgages and notes receivable, at fair value (1)
$11,064 $— $11,064 $— 
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)
2,295 2,295 — — 
Impaired real estate assets
26,740 — — 26,740 
Total Assets$40,099 $2,295 $11,064 $26,740 
Noncontrolling Interests in the Operating Partnership$65,791 $65,791 $— $— 
Liabilities:
Mortgages and notes payable, net, at fair value (1)
$3,097,323 $— $3,097,323 $— 
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)
2,295 2,295 — — 
Total Liabilities
$3,099,618 $2,295 $3,097,323 $— 
__________
(1)    Amounts are not recorded at fair value on our Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024.
v3.25.1
Real Estate and Other Assets Held For Sale (Tables)
 3 Months Ended
Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Real Estate and Other Assets of the Properties Classified As Held For Sale
The following table sets forth our assets held for sale, which are considered non-core:

March 31,
2025		December 31,
2024
Assets:
Land$— $6,232 
Buildings and tenant improvements— 98,081 
Less-accumulated depreciation— (58,511)
Net real estate assets— 45,802 
Accrued straight-line rents receivable— 6,581 
Deferred leasing costs, net— 2,784 
Prepaid expenses and other assets, net— 242 
Real estate and other assets, net, held for sale$— $55,409 
v3.25.1
Earnings Per Share and Per Unit (Tables)
 3 Months Ended
Mar. 31, 2025
Earnings Per Share and Per Unit Basic and Diluted [Line Items]  
Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share of the Company:

Three Months Ended
March 31,
20252024
Earnings per Common Share - basic:
Numerator:
Net income$100,000 $27,213 
Net (income) attributable to noncontrolling interests in the Operating Partnership
(1,956)(533)
Net loss attributable to noncontrolling interests in consolidated affiliates 26 5 
Dividends on Preferred Stock(621)(621)
Net income available for common stockholders$97,449 $26,064 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
107,683 105,804 
Net income available for common stockholders$0.91 $0.25 
Earnings per Common Share - diluted:
Numerator:
Net income$100,000 $27,213 
Net loss attributable to noncontrolling interests in consolidated affiliates26 5 
Dividends on Preferred Stock(621)(621)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership
$99,405 $26,597 
Denominator:
Denominator for basic earnings per Common Share – weighted average shares (1)
107,683 105,804 
Add:
Noncontrolling interests Common Units2,151 2,154 
Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions
109,834 107,958 
Net income available for common stockholders$0.91 $0.25 
__________
(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
March 31,
20252024
Earnings per Common Unit - basic:
Numerator:
Net income$100,000 $27,213 
Net loss attributable to noncontrolling interests in consolidated affiliates26 5 
Distributions on Preferred Units(621)(621)
Net income available for common unitholders$99,405 $26,597 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
109,425 107,549 
Net income available for common unitholders$0.91 $0.25 
Earnings per Common Unit - diluted:
Numerator:
Net income$100,000 $27,213 
Net loss attributable to noncontrolling interests in consolidated affiliates26 5 
Distributions on Preferred Units(621)(621)
Net income available for common unitholders$99,405 $26,597 
Denominator:
Denominator for basic earnings per Common Unit – weighted average units (1)
109,425 107,549 
Net income available for common unitholders$0.91 $0.25 
__________
(1)Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable.
v3.25.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated
The following tables summarize rental and other revenues, rental property and other expenses and net operating income for each of our reportable segments. Net operating income is the primary industry property-level performance metric used by our chief operating decision maker and is defined as rental and other revenues less rental property and other expenses. Our chief operating decision maker uses net operating income to help assess segment performance and decide how to allocate resources accordingly.

Three Months Ended
March 31,
20252024
Rental and other revenues:
Atlanta$35,594 $36,443 
Charlotte22,056 21,717 
Nashville39,544 45,038 
Orlando14,296 14,776 
Raleigh44,494 45,178 
Richmond9,178 9,001 
Tampa22,712 24,579 
Rental and other revenues for reportable segments187,874 196,732 
Other12,509 14,543 
Total rental and other revenues200,383 211,275 
Segment, Reconciliation of Other Items from Segments to Consolidated
Rental property and other expenses:
Atlanta14,368 13,823 
Charlotte5,841 5,789 
Nashville11,357 13,732 
Orlando5,542 5,608 
Raleigh11,733 13,092 
Richmond3,003 2,684 
Tampa8,609 9,091 
Rental property and other expenses for reportable segments60,453 63,819 
Other4,581 6,616 
Total rental property and other expenses65,034 70,435 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Net operating income:
Atlanta21,226 22,620 
Charlotte16,215 15,928 
Nashville28,187 31,306 
Orlando8,754 9,168 
Raleigh32,761 32,086 
Richmond6,175 6,317 
Tampa14,103 15,488 
Net operating income for reportable segments127,421 132,913 
Other7,928 7,927 
Total net operating income$135,349 $140,840 
Three Months Ended
March 31,
20252024
Reconciliation to net income:
Depreciation and amortization$(71,405)$(73,671)
General and administrative expenses(12,457)(12,499)
Interest expense(36,642)(36,552)
Other income1,625 1,232 
Gains on disposition of property82,215 7,209 
Equity in earnings of unconsolidated affiliates1,315 654 
Net income$100,000 $27,213 
v3.25.1
Description of Business and Significant Accounting Policies (Details)
$ in Thousands, ft² in Millions
 3 Months Ended
Mar. 31, 2025
USD ($)
ft²
numberOfEntities
shares
Mar. 31, 2024
USD ($)
Description of Business [Abstract]    
Rentable square feet of commercial real estate properties (in sq feet) | ft² 27.4  
Rentable square feet of commercial real estate office properties under development (in sq feet) | ft² 1.4  
Rentable square feet of potential office build (in sq feet) | ft² 4.9  
Net proceeds of Common Stock sold during the period | $ $ (1,762) $ (1,064)
Number of VIE entities | numberOfEntities 6  
Self insurance liability | $ $ 400  
Highwoods Properties, Inc. [Member]    
Description of Business [Abstract]    
Common Units of partnership owned by the Company (in shares) 107,400,000  
Percentage of ownership of Common Units (in hundredths) 98.00%  
Common Units redeemed for cash 326  
Highwoods Properties, Inc. [Member] | ATM Equity Offering    
Description of Business [Abstract]    
Number of Common Stock sold during the period (in shares) 0  
Highwoods Properties, Inc. [Member] | ATM Equity Offering | Maximum [Member]    
Description of Business [Abstract]    
Net proceeds of Common Stock sold during the period | $ $ 300,000  
Highwoods Realty Limited Partnership    
Description of Business [Abstract]    
Common Units of partnership not owned by the Company (in shares) 2,200,000  
Variable Interest Entity, Primary Beneficiary [Member]    
Description of Business [Abstract]    
Number of VIE entities | numberOfEntities 1  
Variable Interest Entity, Non Primary Beneficiary [Member]    
Description of Business [Abstract]    
Number of VIE entities | numberOfEntities 5  
v3.25.1
Leases ASC 842 (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Lessor Disclosure [Abstract]    
Rental and other revenues related to operating lease payments $ 196.5 $ 207.8
Variable lease income $ 16.9 $ 22.5
Minimum [Member]    
Lessor Disclosure [Abstract]    
Operating leases, term of leases (in years) 3 years  
Maximum [Member]    
Lessor Disclosure [Abstract]    
Operating leases, term of leases (in years) 10 years  
v3.25.1
Investments in and Advances to Affiliates (Details)
$ in Millions
Mar. 31, 2025
USD ($)
numberOfJointVentures
Rate
Schedule of Equity Method Investments [Line Items]  
Number of joint ventures formed | numberOfJointVentures 2
Granite Park Six JV, LLC  
Schedule of Equity Method Investments [Line Items]  
Percentage of equity interest in joint venture (in hundredths) 50.00%
GPI23 Springs JV, LLC  
Schedule of Equity Method Investments [Line Items]  
Percentage of equity interest in joint venture (in hundredths) 50.00%
M+O JV, LLC  
Schedule of Equity Method Investments [Line Items]  
Percentage of equity interest in joint venture (in hundredths) 50.00%
Fair value of debt assumed from acquisition | $ $ 137.0
Stated interest rate (in hundredths) 4.50%
Effective interest rate (in hundredths) 5.30%
Midtown East Tampa, LLC  
Schedule of Equity Method Investments [Line Items]  
Percentage of equity interest in joint venture (in hundredths) 50.00%
Brand/HRLP 2827 Peachtree LLC  
Schedule of Equity Method Investments [Line Items]  
Percentage of equity interest in joint venture (in hundredths) 50.00%
v3.25.1
Variable Interest Entities (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Variable Interest Entities [Line Items]      
Investments in and advances to unconsolidated affiliates $ 492,090 $ 485,726  
Assets and liabilities of consolidated variable interest entity [Abstract]      
Net real estate assets 4,905,279 4,821,351  
Cash and cash equivalents 20,107 22,412 $ 16,422
Accrued straight-line rents receivable 311,704 308,853  
Deferred leasing costs, net 224,425 209,967  
Prepaid expense and other assets, net 67,188 75,021  
Mortgages and notes payable 3,338,492 3,293,559  
Accounts payable, accrued expenses and other liabilities 257,963 304,551  
Granite Park Six JV, LLC      
Variable Interest Entities [Line Items]      
Risk of loss limited to carrying value 76,400    
GPI23 Springs JV, LLC      
Variable Interest Entities [Line Items]      
Risk of loss limited to carrying value 102,900    
M+O JV, LLC      
Variable Interest Entities [Line Items]      
Risk of loss limited to carrying value 183,300    
Midtown East Tampa, LLC      
Variable Interest Entities [Line Items]      
Risk of loss limited to carrying value 39,000    
Investments in and advances to unconsolidated affiliates 13,900    
Amount of loan funded to affiliate 25,100    
Brand/HRLP 2827 Peachtree LLC      
Variable Interest Entities [Line Items]      
Risk of loss limited to carrying value 60,700    
Investments in and advances to unconsolidated affiliates 12,400    
Amount of loan funded to affiliate $ 48,300    
HRLP MTW, LLC [Member]      
Variable Interest Entities [Line Items]      
Interest in joint venture (in hundredths) 80.00%    
Assets and liabilities of consolidated variable interest entity [Abstract]      
Net real estate assets $ 57,943 58,443  
Cash and cash equivalents 1,517 1,530  
Accrued straight-line rents receivable 5,318 5,192  
Deferred leasing costs, net 2,508 2,596  
Prepaid expense and other assets, net 183 104  
Mortgages and notes payable 44,261 44,325  
Accounts payable, accrued expenses and other liabilities $ 1,502 $ 1,297  
v3.25.1
Real Estate Assets (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
USD ($)
ft²
numberOfBuildings
Mar. 31, 2024
USD ($)
Acquisitions [Abstract]    
Rentable square feet of commercial real estate properties (in sq feet) | ft² 27,400,000  
Dispositions [Abstract]    
Gains on disposition of property $ 82,215 $ 7,209
2025 Submarket Acquisition    
Acquisitions [Abstract]    
Rentable square feet of commercial real estate properties (in sq feet) | ft² 346,000  
Purchase price of acquisition $ 137,900  
2025 Dispositions    
Dispositions [Abstract]    
Number of buildings sold | numberOfBuildings 3  
Sale price of real estate $ 146,300  
Gains on disposition of property $ 82,200  
v3.25.1
Intangible Assets and Below Market Lease Liabilities (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Assets:      
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets) $ 386,249   $ 380,279
Deferred leasing costs, accumulated amortization (161,824)   (170,312)
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 224,425   209,967
Liabilities (in accounts payable, accrued expenses and other liabilities):      
Acquisition-related below market lease liabilities, gross 31,178   37,482
Acquisition-related below market lease liabilities, accumulated amortization (15,744)   (21,296)
Acquisition-related below market lease liabilities, net 15,434   $ 16,186
Amortization of intangible assets and below market lease liabilities [Abstract]      
Acquired intangible assets (amortized in rental and other revenues) 1,656    
Acquired intangible assets (amortized in depreciation and amortization) 16,445    
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 198,936    
Amortization of intangible assets and below market lease liabilities [Abstract]      
Amortization of intangible assets 9,004 $ 9,645  
Lease Incentives (in Rental and Other Revenues) [Member]      
Assets:      
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 13,259    
Amortization of intangible assets and below market lease liabilities [Abstract]      
Amortization of intangible assets 645 693  
Acquisition-Related Above Market Lease Intangible Assets (in Rental and Other Revenues) [Member]      
Assets:      
Deferred leasing costs, net/Total scheduled future amortization of intangible assets 12,230    
Amortization of intangible assets and below market lease liabilities [Abstract]      
Amortization of intangible assets 598 802  
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 15,434    
Amortization of intangible assets and below market lease liabilities [Abstract]      
Amortization of acquisition-related below market lease liabilities $ (752) $ (1,144)  
v3.25.1
Intangible Assets and Below Market Lease Liabilities - Scheduled Future Amortization (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Scheduled future amortization of intangible assets [Abstract]    
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 224,425 $ 209,967
Scheduled future amortization of below market lease liabilities [Abstract]    
Total scheduled future amortization of acquisition-related below market lease liabilities (15,434) $ (16,186)
Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
April 1 through December 31, 2025 28,253  
2026 33,590  
2027 29,328  
2028 25,322  
2029 22,549  
Thereafter 59,894  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 198,936  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived intangible assets, average useful life (in years) 7 years 3 months 18 days  
Lease Incentives (in Rental and Other Revenues) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
April 1 through December 31, 2025 $ 1,766  
2026 2,120  
2027 1,884  
2028 1,675  
2029 1,388  
Thereafter 4,426  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 13,259  
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 9 months 18 days  
Acquisition-Related Above Market Lease Intangible Assets (in Rental and Other Revenues) [Member]    
Scheduled future amortization of intangible assets [Abstract]    
April 1 through December 31, 2025 $ 1,833  
2026 2,161  
2027 1,680  
2028 1,544  
2029 1,432  
Thereafter 3,580  
Deferred leasing costs, net/Total scheduled future amortization of intangible assets $ 12,230  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived intangible assets, average useful life (in years) 6 years 10 months 24 days  
Acquired finite-lived intangible assets, weighted average useful life (in years) 8 years 3 months 18 days  
Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues) [Member]    
Scheduled future amortization of below market lease liabilities [Abstract]    
April 1 through December 31, 2025 $ (1,973)  
2026 (2,431)  
2027 (2,062)  
2028 (1,649)  
2029 (1,377)  
Thereafter (5,942)  
Total scheduled future amortization of acquisition-related below market lease liabilities $ (15,434)  
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Finite-lived below market lease liabilities, average useful life (in years) 7 years 10 months 24 days  
Acquisition-Related Intangible Assets (Amortized in Depreciation and Amortization) [Member]    
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]    
Acquired finite-lived intangible assets, weighted average useful life (in years) 8 years  
v3.25.1
Mortgages and Notes Payable (Details)
 3 Months Ended
Mar. 31, 2025
USD ($)
extension
Apr. 22, 2025
USD ($)
Dec. 31, 2024
USD ($)
Debt Instrument [Line Items]      
Mortgages and notes payable $ 3,338,492,000   $ 3,293,559,000
Unamortized debt issuance costs $ (13,629,000)   (14,442,000)
Maximum liquidity requirements 1 year    
Revolving Credit Facility [Member]      
Debt Instrument [Line Items]      
Maximum borrowing capacity on credit facility $ 750,000,000.0    
Number of additional extensions | extension 2    
Term of optional extension 6 months    
Temporary reduction in interest rate due to sustainability goals (in hundredths) 0.025%    
Amount outstanding on revolving credit facility $ 150,000,000.0    
Outstanding letters of credit on revolving credit facility 100,000    
Unused borrowing capacity on revolving credit facility 599,900,000    
Secured indebtedness [Member]      
Debt Instrument [Line Items]      
Mortgages and notes payable 709,901,000   712,186,000
Aggregate undepreciated book value of secured real estate assets 1,233,600,000    
Unsecured indebtedness [Member]      
Debt Instrument [Line Items]      
Mortgages and notes payable $ 2,642,220,000   $ 2,595,815,000
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%    
SOFR Related Spread Adjustment [Member] | Revolving Credit Facility [Member]      
Debt Instrument [Line Items]      
Interest rate, basis spread (in hundredths) 0.10%    
Subsequent Event [Member] | Revolving Credit Facility [Member]      
Debt Instrument [Line Items]      
Amount outstanding on revolving credit facility   $ 145,000,000.0  
Outstanding letters of credit on revolving credit facility   100,000  
Unused borrowing capacity on revolving credit facility   $ 604,900,000  
v3.25.1
Noncontrolling Interests (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Noncontrolling Interests in the Operating Partnership [Roll Forward]    
Beginning noncontrolling interests in the Operating Partnership $ 65,791  
Adjustment of noncontrolling interests in the Operating Partnership to fair value (2,902) $ 7,479
Conversions of Common Units to Common Stock 0 (132)
Redemptions of Common Units (10) 0
Net income attributable to noncontrolling interests in the Operating Partnership 1,956 533
Distributions to noncontrolling interests in the Operating Partnership (1,076) (1,076)
Total noncontrolling interests in the Operating Partnership 63,759  
Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership [Abstract]    
Net income available for common stockholders 97,449 26,064
Highwoods Properties, Inc. [Member]    
Noncontrolling Interests in the Operating Partnership [Roll Forward]    
Beginning noncontrolling interests in the Operating Partnership 65,791 49,520
Adjustment of noncontrolling interests in the Operating Partnership to fair value (2,902) 7,479
Conversions of Common Units to Common Stock 0 (132)
Redemptions of Common Units (10) 0
Net income attributable to noncontrolling interests in the Operating Partnership 1,956 533
Distributions to noncontrolling interests in the Operating Partnership (1,076) (1,076)
Total noncontrolling interests in the Operating Partnership 63,759 56,324
Net Income Available for Common Stockholders and Transfers From Noncontrolling Interests in the Operating Partnership [Abstract]    
Net income available for common stockholders 97,449 26,064
Increase in additional paid in capital from conversions of Common Units to Common Stock 0 132
Redemptions of Common Units 10 0
Change from net income available for common stockholders and transfers from noncontrolling interests $ 97,459 $ 26,196
Midtown West Joint Venture [Member]    
Noncontrolling Interests in Consolidated Affiliates [Abstract]    
Consolidated joint venture, partner's interest (in hundredths) 20.00%  
v3.25.1
Disclosure About Fair Value of Financial Instruments - Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets:    
Mortgages and notes receivable, at fair value $ 6,241 $ 11,064
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 1,513 2,295
Impaired real estate assets   26,740
Total Assets 7,754 40,099
Liabilities:    
Mortgages and notes payable, net, at fair value 3,177,593 3,097,323
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 1,513 2,295
Total Liabilities 3,179,106 3,099,618
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) 1,513 2,295
Impaired real estate assets   0
Total Assets 1,513 2,295
Liabilities:    
Mortgages and notes payable, net, at fair value 0 0
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 1,513 2,295
Total Liabilities 1,513 2,295
Level 2 [Member]    
Assets:    
Mortgages and notes receivable, at fair value 6,241 11,064
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 0 0
Impaired real estate assets   0
Total Assets 6,241 11,064
Liabilities:    
Mortgages and notes payable, net, at fair value 3,177,593 3,097,323
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 0 0
Total Liabilities 3,177,593 3,097,323
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   26,740
Total Assets 0 26,740
Liabilities:    
Mortgages and notes payable, net, at fair value 0 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 63,759 65,791
Highwoods Properties, Inc. [Member] | Level 1 [Member]    
Assets:    
Noncontrolling Interests in the Operating Partnership 63,759 65,791
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
v3.25.1
Share-Based Payments (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Share-based compensation expense $ 4,967 $ 4,833
Total unrecognized share-based compensation costs $ 6,300  
Weighted average remaining contractual term for recognition of unrecognized share-based compensation costs (in years) 2 years 7 months 6 days  
Highwoods Properties, Inc. [Member] | Time-Based Restricted Stock [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Restricted stock shares granted (in shares) 125,036  
Weighted average grant date fair value of each restricted stock share granted (in dollars per share) $ 29.13  
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) 116,852  
Weighted average grant date fair value of each restricted stock share granted (in dollars per share) $ 30.41  
v3.25.1
Real Estate and Other Assets Held For Sale (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Real Estate and Other Assets Held For Sale [Abstract]    
Land $ 0 $ 6,232
Buildings and tenant improvements 0 98,081
Less-accumulated depreciation 0 (58,511)
Net real estate assets 0 45,802
Accrued straight-line rents receivable 0 6,581
Deferred leasing costs, net 0 2,784
Prepaid expenses and other assets, net 0 242
Real estate and other assets, net, held for sale $ 0 $ 55,409
v3.25.1
Earnings Per Share and Per Unit (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Earnings per Common Share and Per Unit - basic: [Abstract]    
Net income $ 100,000 $ 27,213
Net (income) attributable to noncontrolling interests in the Operating Partnership (1,956) (533)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 26 5
Dividends on Preferred Stock (621) (621)
Net income available for common stockholders $ 97,449 $ 26,064
Denominator:    
Denominator for basic earnings per Common Share - weighted average shares (in shares) 107,683 105,804
Earnings per Common Share - basic:    
Net income available for common stockholders (in dollars per share) $ 0.91 $ 0.25
Earnings per Common Share and Per Unit - diluted: [Abstract]    
Net income $ 100,000 $ 27,213
Net loss attributable to noncontrolling interests in consolidated affiliates 26 5
Dividends on Preferred Stock (621) (621)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership $ 99,405 $ 26,597
Denominator:    
Denominator for basic earnings per Common Share - weighted average shares (in shares) 107,683 105,804
Noncontrolling interests Common Units (in shares) 2,151 2,154
Denominator for diluted earnings per Common Share - adjusted weighted average shares and assumed conversions (in shares) 109,834 107,958
Earnings per Common Share - diluted:    
Net income available for common stockholders (in dollars per share) $ 0.91 $ 0.25
Highwoods Realty Limited Partnership    
Earnings per Common Share and Per Unit - basic: [Abstract]    
Net income $ 100,000 $ 27,213
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 26 5
Distributions on Preferred Units (621) (621)
Net income available for common unitholders $ 99,405 $ 26,597
Denominator:    
Denominator for basic earnings per Common Unit - weighted average units (in shares) 109,425 107,549
Earnings per Common Unit - basic:    
Net income available for common unitholders (in dollars per share) $ 0.91 $ 0.25
Earnings per Common Share and Per Unit - diluted: [Abstract]    
Net income $ 100,000 $ 27,213
Net loss attributable to noncontrolling interests in consolidated affiliates 26 5
Distributions on Preferred Units (621) (621)
Net income available for common unitholders $ 99,405 $ 26,597
Denominator:    
Denominator for basic earnings per Common Unit - weighted average units (in shares) 109,425 107,549
Earnings per Common Unit - diluted:    
Net income available for common unitholders (in dollars per share) $ 0.91 $ 0.25
v3.25.1
Segment Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Segment Reporting Information [Line Items]    
Total rental and other revenues $ 200,383 $ 211,275
Total rental property and other expenses 65,034 70,435
Total net operating income 135,349 140,840
Reconciliation to net income:    
Depreciation and amortization (71,405) (73,671)
General and administrative expenses (12,457) (12,499)
Interest expense (36,642) (36,552)
Other income 1,625 1,232
Gains on disposition of property 82,215 7,209
Equity in earnings of unconsolidated affiliates 1,315 654
Net income 100,000 27,213
Total Reportable Segment [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 187,874 196,732
Total rental property and other expenses 60,453 63,819
Total net operating income 127,421 132,913
Atlanta, GA [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 35,594 36,443
Total rental property and other expenses 14,368 13,823
Total net operating income 21,226 22,620
Charlotte, NC [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 22,056 21,717
Total rental property and other expenses 5,841 5,789
Total net operating income 16,215 15,928
Nashville, TN [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 39,544 45,038
Total rental property and other expenses 11,357 13,732
Total net operating income 28,187 31,306
Orlando, FL [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 14,296 14,776
Total rental property and other expenses 5,542 5,608
Total net operating income 8,754 9,168
Raleigh, NC [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 44,494 45,178
Total rental property and other expenses 11,733 13,092
Total net operating income 32,761 32,086
Richmond, VA [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 9,178 9,001
Total rental property and other expenses 3,003 2,684
Total net operating income 6,175 6,317
Tampa, FL [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 22,712 24,579
Total rental property and other expenses 8,609 9,091
Total net operating income 14,103 15,488
Other Segment [Member]    
Segment Reporting Information [Line Items]    
Total rental and other revenues 12,509 14,543
Total rental property and other expenses 4,581 6,616
Total net operating income $ 7,928 $ 7,927
v3.25.1
Subsequent Events (Details) - Highwoods Properties, Inc. [Member] - $ / shares
 3 Months Ended
Apr. 23, 2025
Mar. 31, 2025
Mar. 31, 2024
Subsequent Event [Line Items]      
Dividends declared per share of Common Stock (in dollars per share)   $ 0.50 $ 0.50
Subsequent Event [Member]      
Subsequent Event [Line Items]      
Dividends declared per share of Common Stock (in dollars per share) $ 0.50