Highwoods Properties (HIW) Investor presentation summary

Strategic focus and market positioning

• Portfolio spans 26.8M square feet with 89.7% leased as of March 2026, concentrated in high-growth Sunbelt markets generating over 95% of NOI.

• Over 90% of NOI is derived from top 20 ULI markets, with significant exposure in Dallas, Charlotte, Raleigh, and Nashville.

• Customer base is diversified across industries, with the top 10 tenants accounting for 19.6% of annualized GAAP revenue.

• Average building age is 2007 (value weighted), and weighted average lease term is 5.8 years.

Leasing, rent growth, and occupancy

• Net effective rents are 20% higher year-over-year and 30% above the market trough, with 21% higher rents on new investments from 2019-2025.

• Portfolio occupancy is 89.7%, consistently outperforming the US average by 560 basis points as of March 2026.

• Only one lease expiration over 100K SF is scheduled through year-end 2027, supporting occupancy stability.

Investment activity and capital allocation

• $793M in acquisitions ($581M at share) and $525M in dispositions completed in 2025-2026, with acquisitions focused on newer, high-quality assets in core markets.

• Recent developments total $230M investment (HIW share), with 1.4M SF at 86% leased and major projects stabilizing in 2026-2028.

• Non-office land sales generated $43.9M in proceeds from 2023-2025, providing additional capital flexibility.