On February 2, 2026, the Company acquired 300 South Tryon in Uptown Charlotte. On July 28, 2025, the Company acquired The Link in Uptown Dallas. The assets acquired and liabilities assumed were recorded at relative fair value, as determined by management, with the assistance of third-party specialists, based on information available at the acquisition date and on current assumptions of future operations. The following table summarizes these acquisitions ($ in thousands):


	300 South Tryon			The Link
Closing Purchase Price	$	317,500		$	218,000
Acquisition Date	February 2026			July 2025
Square Feet		638,000			292,000
Market	Charlotte			Dallas
Purchase Price Allocation
Tangible assets
Operating properties	$	306,470		$	222,890
Intangible and other assets
In-place leases (1)		26,467			19,260
Prepaid expenses		171			48
Above market rents		125			—
		26,763			19,308
Intangible and other liabilities
Below market leases (1)		(14,505	)		(21,409	)
Accounts payable and other liabilities		(1,467	)		(5,775	)
		(15,972	)		(27,184	)

Total net assets acquired (2)	$	317,261		$	215,014

(1)

The intangible assets and liabilities will be amortized over a weighted average remaining lease term of 6 and 9.3 years from the acquisition dates for 300 South Tryon and for The Link, respectively.

(2)

For 300 South Tryon, total net assets acquired represents net purchase price, including acquisition costs of $1.1 million, as well as net operating liabilities acquired through closing prorations of $1.5 million. For The Link, total net assets acquired represents net purchase price, including acquisition costs of $280,000 as well as net operating liabilities of $3.3 million.

On September 29, 2026, through its consolidated joint venture, 2401 McKinney, the Company acquired a 2.3 acre land parcel in Uptown Dallas for future development. This 2.3 acre parcel is comprised of 1.2 acres acquired fee simple for a gross purchase price of $50.0 million and 1.1 acres acquired through the assignment of a long term ground lease. The assets acquired and liabilities assumed were recorded at relative fair value, as determined by management based on information available at the acquisition date. The relative fair value of the land owned in fee simple and related predevelopment assets was $42.2 million and $7.8 million, respectively. The 1.1 acre operating ground lease has a remaining term of 96 years. The Company recorded a $17.7 million right of use asset and ground lease liability, included in land and other liabilities, respectively, on the consolidated balance sheet as of September 30, 2026. The lease liability was measured using management's assumptions regarding the lease term and discount rate, with a corresponding right-of-use asset recognized upon assignment. The total undiscounted cash flows of our scheduled obligations for future minimum payments under this ground lease is $220.3 million, including $4.2 million through September 30, 2031. The discount rate used in determining the liabilities associated with this ground lease was 6.4%.

On February 25, 2026, the Company sold Harborview Plaza in Tampa for a gross sales price of $39.5 million. The sale of the property did not result in a significant gain or loss. The Company recorded an impairment of $13.3 million on this property in 2025.

On June 26, 2026, the Company sold Research Park V in Austin for a gross sales price of $42.0 million resulting in a gain of $9.2 million.

On July 29, 2026, the Company sold One Eleven Congress in Austin for a gross sales price of $208.0 million. The sale of the property did not result in a significant gain or loss. The Company recorded an impairment on this property of $36.6 million during the three months ended March 31, 2026 as discussed below.

Held for Sale

The major classes of assets and liabilities of properties held for sale as of September 30, 2026 (303 Tremont land parcel), and December 31, 2025 (Harborview Plaza and 303 Tremont land parcel), were as follows ($ in thousands):


Real estate assets and other assets held for sale	2026		2025
Operating properties, net of accumulated depreciation of $15,341 in 2025	$	—	$	35,682
Land		18,854		18,854
Notes and accounts receivable		—		272
Deferred rents receivable		—		2,082
Intangible assets, net of accumulated amortization of $682 in 2025		—		138
Other assets		4,403		4,461
	$	23,257	$	61,489

Liabilities of real estate assets held for sale
Accounts payable and accrued expenses	$	114	$	1,769
Deferred income		—		266
Intangible liabilities, net of accumulated amortization of $140 in 2025		—		49
Other liabilities		—		765
	$	114	$	2,849

In accordance with the Company's policy on impairment described in note 2 of the consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, the Company reviews its real estate assets on an asset group basis for impairment and records an impairment when circumstances indicate an asset group's carrying value may not be recoverable. This review includes the Company's operating properties, properties under development, and land holdings and considers whether each asset group is held for investment or held for sale.

In March 2026, the Company entered into an agreement to sell One Eleven Congress and determined that it was more likely than not that the expected hold period for the related asset group had significantly decreased. Because the carrying value of the asset group exceeded the undiscounted cash flows over the revised hold period, the property was written down to its estimated fair value, resulting in an impairment of $36.6 million recognized in the three months ended March 31, 2026. The estimated fair value was based on the third-party offer to purchase (a level 2 input under authoritative guidance for fair value measurements).