Highwoods Properties (HIW) 10-Q 25 Apr 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 18, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity Registrant Name	HIGHWOODS PROPERTIES, INC.
Entity Incorporation, State or Country Code	MD
Entity File Number	001-13100
Entity Tax Identification Number	56-1871668
Entity Address, Address Line One	150 Fayetteville Street
Entity Address, Address Line Two	Suite 1400
Entity Address, City or Town	Raleigh
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27601
City Area Code	919
Local Phone Number	872-4924
Title of 12(b) Security	Common Stock, $.01 par value, of Highwoods Properties, Inc.
Trading Symbol	HIW
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		105,457,788
Entity Central Index Key	0000921082
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
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	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

HPI - Consolidated Balance Shee

HPI - Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Real estate assets, at cost:
Land	$ 543,514	$ 548,720
Buildings and tenant improvements	5,888,398	5,909,754
Development in-process	54,846	46,735
Land held for development	229,531	231,218
Total real estate assets	6,716,289	6,736,427
Less-accumulated depreciation	(1,626,650)	(1,609,502)
Net real estate assets	5,089,639	5,126,925
Cash and cash equivalents	15,733	21,357
Restricted cash	5,901	4,748
Accounts receivable	24,561	25,481
Mortgages and notes receivable	998	1,051
Accrued straight-line rents receivable	302,080	293,674
Investments in and advances to unconsolidated affiliates	314,149	269,221
Deferred leasing costs, net of accumulated amortization of $164,202 and $163,751, respectively	246,382	252,828
Prepaid expenses and other assets, net of accumulated depreciation of $22,530 and $21,660, respectively	70,570	68,091
Total Assets	6,070,013	6,063,376
Liabilities, Noncontrolling Interests in the Operating Partnership and Equity:
Mortgages and notes payable, net	3,263,969	3,197,215
Accounts payable, accrued expenses and other liabilities	264,203	301,184
Total Liabilities	3,528,172	3,498,399
Commitments and contingencies
Noncontrolling interests in the Operating Partnership	54,682	65,977
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 and 28,821 shares issued and outstanding, respectively	28,811	28,821
Common Stock, $.01 par value, 200,000,000 authorized shares; 105,457,508 and 105,210,858 shares issued and outstanding, respectively	1,055	1,052
Additional paid-in capital	3,096,126	3,081,330
Distributions in excess of net income available for common stockholders	(642,014)	(633,227)
Accumulated other comprehensive loss	(1,286)	(1,211)
Total Stockholders’ Equity	2,482,692	2,476,765
Noncontrolling interests in consolidated affiliates	4,467	22,235
Total Equity/Capital	2,487,159	2,499,000
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital	$ 6,070,013	$ 6,063,376

HPI - Consolidated Balance Sh_2

HPI - Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Assets:
Deferred leasing costs, accumulated amortization	$ 164,202	$ 163,751
Prepaid expenses and other assets, accumulated depreciation	$ 22,530	$ 21,660
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	28,821
Series A Preferred Stock, shares outstanding (in shares)	28,811	28,821
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, authorized shares (in shares)	200,000,000	200,000,000
Common Stock, shares issued (in shares)	105,457,508	105,210,858
Common Stock, shares outstanding (in shares)	105,457,508	105,210,858

HRLP - Consolidated Balance She

HRLP - Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Real estate assets, at cost:
Land	$ 543,514	$ 548,720
Buildings and tenant improvements	5,888,398	5,909,754
Development in-process	54,846	46,735
Land held for development	229,531	231,218
Total real estate assets	6,716,289	6,736,427
Less-accumulated depreciation	(1,626,650)	(1,609,502)
Net real estate assets	5,089,639	5,126,925
Cash and cash equivalents	15,733	21,357
Restricted cash	5,901	4,748
Accounts receivable	24,561	25,481
Mortgages and notes receivable	998	1,051
Accrued straight-line rents receivable	302,080	293,674
Investments in and advances to unconsolidated affiliates	314,149	269,221
Deferred leasing costs, net of accumulated amortization of $164,202 and $163,751, respectively	246,382	252,828
Prepaid expenses and other assets, net of accumulated depreciation of $22,530 and $21,660, respectively	70,570	68,091
Total Assets	6,070,013	6,063,376
Liabilities, Redeemable Operating Partnership Units and Capital:
Mortgages and notes payable, net	3,263,969	3,197,215
Accounts payable, accrued expenses and other liabilities	264,203	301,184
Total Liabilities	3,528,172	3,498,399
Commitments and contingencies
Capital:
Accumulated other comprehensive loss	(1,286)	(1,211)
Noncontrolling interests in consolidated affiliates	4,467	22,235
Total Equity/Capital	2,487,159	2,499,000
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital	6,070,013	6,063,376
Highwoods Realty Limited Partnership
Real estate assets, at cost:
Land	543,514	548,720
Buildings and tenant improvements	5,888,398	5,909,754
Development in-process	54,846	46,735
Land held for development	229,531	231,218
Total real estate assets	6,716,289	6,736,427
Less-accumulated depreciation	(1,626,650)	(1,609,502)
Net real estate assets	5,089,639	5,126,925
Cash and cash equivalents	15,733	21,357
Restricted cash	5,901	4,748
Accounts receivable	24,561	25,481
Mortgages and notes receivable	998	1,051
Accrued straight-line rents receivable	302,080	293,674
Investments in and advances to unconsolidated affiliates	314,149	269,221
Deferred leasing costs, net of accumulated amortization of $164,202 and $163,751, respectively	246,382	252,828
Prepaid expenses and other assets, net of accumulated depreciation of $22,530 and $21,660, respectively	70,570	68,091
Total Assets	6,070,013	6,063,376
Liabilities, Redeemable Operating Partnership Units and Capital:
Mortgages and notes payable, net	3,263,969	3,197,215
Accounts payable, accrued expenses and other liabilities	264,203	301,184
Total Liabilities	3,528,172	3,498,399
Commitments and contingencies
Redeemable Operating Partnership Units:
Common Units, 2,358,009 outstanding	54,682	65,977
Series A Preferred Units (liquidation preference $1,000 per unit), 28,811 and 28,821 units issued and outstanding, respectively	28,811	28,821
Total Redeemable Operating Partnership Units	83,493	94,798
Capital:
General partner Common Units, 1,074,067 and 1,071,601 outstanding, respectively	24,553	24,492
Limited partner Common Units, 103,974,632 and 103,730,448 outstanding, respectively	2,430,614	2,424,663
Accumulated other comprehensive loss	(1,286)	(1,211)
Noncontrolling interests in consolidated affiliates	4,467	22,235
Total Equity/Capital	2,458,348	2,470,179
Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital	$ 6,070,013	$ 6,063,376

HRLP - Consolidated Balance S_2

HRLP - Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets:
Deferred leasing costs, accumulated amortization	$ 164,202	$ 163,751
Prepaid expenses and other assets, accumulated depreciation	22,530	21,660
Highwoods Realty Limited Partnership
Assets:
Deferred leasing costs, accumulated amortization	164,202	163,751
Prepaid expenses and other assets, accumulated depreciation	$ 22,530	$ 21,660
Redeemable Operating Partnership Units: [Abstract]
Redeemable Common Units outstanding (in shares)	2,358,009	2,358,009
Series A Preferred Units, liquidation preference (in dollars per share)	$ 1,000	$ 1,000
Series A Preferred Units, issued (in shares)	28,811	28,821
Series A Preferred Units, outstanding (in shares)	28,811	28,821
Common Units: [Abstract]
General partners' capital account, units outstanding (in shares)	1,074,067	1,071,601
Limited partners' capital account, units outstanding (in shares)	103,974,632	103,730,448

HPI - Consolidated Statements o

HPI - Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Rental and other revenues	$ 212,752	$ 206,378
Operating expenses:
Rental property and other expenses	65,731	61,422
Depreciation and amortization	70,633	69,667
General and administrative	12,415	13,556
Total operating expenses	148,779	144,645
Interest expense	33,098	24,393
Other income	1,147	363
Gains on disposition of property	450	4,100
Gain on deconsolidation of affiliate	11,778	0
Equity in earnings of unconsolidated affiliates	704	300
Net income	44,954	42,103
Net (income) attributable to noncontrolling interests in the Operating Partnership	(986)	(965)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	487	(257)
Dividends on Preferred Stock	(621)	(621)
Net income available for common stockholders	$ 43,834	$ 40,260
Earnings per Common Share – basic:
Net income available for common stockholders (in dollars per share)	$ 0.42	$ 0.38
Weighted average Common Shares outstanding - basic (in shares)	105,288	104,933
Earnings per Common Share - diluted:
Net income available for common stockholders (in dollars per share)	$ 0.42	$ 0.38
Weighted average Common Shares outstanding - diluted (in shares)	107,646	107,453

HRLP - Consolidated Statements

HRLP - Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Rental and other revenues	$ 212,752	$ 206,378
Operating expenses:
Rental property and other expenses	65,731	61,422
Depreciation and amortization	70,633	69,667
General and administrative	12,415	13,556
Total operating expenses	148,779	144,645
Interest expense	33,098	24,393
Other income	1,147	363
Gains on disposition of property	450	4,100
Gain on deconsolidation of affiliate	11,778	0
Equity in earnings of unconsolidated affiliates	704	300
Net income	44,954	42,103
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	487	(257)
Highwoods Realty Limited Partnership
Rental and other revenues	212,752	206,378
Operating expenses:
Rental property and other expenses	65,731	61,422
Depreciation and amortization	70,633	69,667
General and administrative	12,415	13,556
Total operating expenses	148,779	144,645
Interest expense	33,098	24,393
Other income	1,147	363
Gains on disposition of property	450	4,100
Gain on deconsolidation of affiliate	11,778	0
Equity in earnings of unconsolidated affiliates	704	300
Net income	44,954	42,103
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	487	(257)
Distributions on Preferred Units	(621)	(621)
Net income available for common unitholders	$ 44,820	$ 41,225
Earnings per Common Unit - basic:
Net income available for common unitholders (in dollars per share)	$ 0.42	$ 0.39
Weighted average Common Units outstanding - basic (in shares)	107,237	107,029
Earnings per Common Unit - diluted:
Net income available for common unitholders (in dollars per share)	$ 0.42	$ 0.39
Weighted average Common Units outstanding - diluted (in shares)	107,237	107,044

HPI - Consolidated Statements_2

HPI - Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Comprehensive income:
Net income	$ 44,954	$ 42,103
Other comprehensive loss:
Amortization of cash flow hedges	(75)	(15)
Total other comprehensive loss	(75)	(15)
Total comprehensive income	44,879	42,088
Less-comprehensive (income) attributable to noncontrolling interests	(499)	(1,222)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders	$ 44,380	$ 40,866

HRLP - Consolidated Statement_2

HRLP - Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Comprehensive income:
Net income	$ 44,954	$ 42,103
Other comprehensive loss:
Amortization of cash flow hedges	(75)	(15)
Other comprehensive loss	(75)	(15)
Total comprehensive income	44,879	42,088
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	(499)	(1,222)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders	44,380	40,866
Highwoods Realty Limited Partnership
Comprehensive income:
Net income	44,954	42,103
Other comprehensive loss:
Amortization of cash flow hedges	(75)	(15)
Other comprehensive loss	(75)	(15)
Total comprehensive income	44,879	42,088
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	487	(257)
Comprehensive income attributable to common stockholders/Comprehensive income attributable to common unitholders	$ 45,366	$ 41,831

HPI - Consolidated Statements_3

HPI - Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Series A Cumulative Redeemable Preferred Shares [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interests in Consolidated Affiliates [Member]	Distributions in Excess of Net Income Available for Common Stockholders [Member]
Balance (in shares) at Dec. 31, 2021		104,892,780
Balance at Dec. 31, 2021	$ 2,499,558	$ 1,049	$ 28,821	$ 3,027,861	$ (973)	$ 22,416	$ (579,616)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of Common Stock, net of issuance costs and tax withholdings - shares		69,821
Issuances of Common Stock, net of issuance costs and tax withholdings	4,173	$ 0		4,173
Dividends on Common Stock	(52,424)						(52,424)
Dividends on Preferred Stock	(621)						(621)
Adjustment of noncontrolling interests in the Operating Partnership to fair value	(3,168)			(3,168)
Distributions to noncontrolling interests in consolidated affiliates	(1,411)					(1,411)
Issuances of restricted stock - shares		181,383
Issuances of restricted stock	0
Share-based compensation expense, net of forfeitures	5,291	$ 2		5,289
Net (income) attributable to noncontrolling interests in the Operating Partnership	(965)						(965)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	0					257	(257)
Comprehensive income:
Net income	42,103						42,103
Other comprehensive loss	(15)				(15)
Total comprehensive income	42,088
Balance (in shares) at Mar. 31, 2022		105,143,984
Balance at Mar. 31, 2022	$ 2,492,521	$ 1,051	28,821	3,034,155	(988)	21,262	(591,780)
Balance (in shares) at Dec. 31, 2022	105,210,858	105,210,858
Balance at Dec. 31, 2022	$ 2,499,000	$ 1,052	28,821	3,081,330	(1,211)	22,235	(633,227)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances of Common Stock, net of issuance costs and tax withholdings - shares		(26,083)
Issuances of Common Stock, net of issuance costs and tax withholdings	(828)	$ 0		(828)
Dividends on Common Stock	(52,621)						(52,621)
Dividends on Preferred Stock	(621)						(621)
Adjustment of noncontrolling interests in the Operating Partnership to fair value	11,102			11,102
Issuances of restricted stock - shares		272,733
Issuances of restricted stock	0
Redemptions/repurchases of Preferred Stock	(10)		(10)
Share-based compensation expense, net of forfeitures	4,525	$ 3		4,522
Net (income) attributable to noncontrolling interests in the Operating Partnership	(986)						(986)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	0					(487)	487
Deconsolidation of affiliate	(17,281)					(17,281)
Comprehensive income:
Net income	44,954						44,954
Other comprehensive loss	(75)				(75)
Total comprehensive income	$ 44,879
Balance (in shares) at Mar. 31, 2023	105,457,508	105,457,508
Balance at Mar. 31, 2023	$ 2,487,159	$ 1,055	$ 28,811	$ 3,096,126	$ (1,286)	$ 4,467	$ (642,014)

HPI - Consolidated Statements_4

HPI - Consolidated Statements of Equity (Parentheticals) - Highwoods Properties, Inc. [Member] - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
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

HRLP - Consolidated Statement_3

HRLP - Consolidated Statements of Capital - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance	$ 2,499,000	$ 2,499,558
Share-based compensation expense, net of forfeitures	4,525	5,291
Distributions to noncontrolling interests in consolidated affiliates		(1,411)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	0	0
Deconsolidation of affiliate	(17,281)
Comprehensive income:
Net income	44,954	42,103
Other comprehensive loss	(75)	(15)
Total comprehensive income	44,879	42,088
Balance	2,487,159	2,492,521
Highwoods Realty Limited Partnership
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance	2,470,179	2,470,737
Issuances of Common Units, net of issuance costs and tax withholdings	(828)	4,173
Distributions on Common Units	(53,595)	(53,471)
Distributions on Preferred Units	(621)	(621)
Share-based compensation expense, net of forfeitures	4,525	5,291
Distributions to noncontrolling interests in consolidated affiliates		(1,411)
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner	11,090	(3,086)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	0	0
Deconsolidation of affiliate	(17,281)
Comprehensive income:
Net income	44,954	42,103
Other comprehensive loss	(75)	(15)
Total comprehensive income	44,879	42,088
Balance	2,458,348	2,463,700
General Partners' Common Units [Member] | Highwoods Realty Limited Partnership
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance	24,492	24,492
Issuances of Common Units, net of issuance costs and tax withholdings	(8)	42
Distributions on Common Units	(536)	(535)
Distributions on Preferred Units	(6)	(6)
Share-based compensation expense, net of forfeitures	45	53
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner	111	(31)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	5	(3)
Comprehensive income:
Net income	450	421
Balance	24,553	24,433
Limited Partners' Common Units [Member] | Highwoods Realty Limited Partnership
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance	2,424,663	2,424,802
Issuances of Common Units, net of issuance costs and tax withholdings	(820)	4,131
Distributions on Common Units	(53,059)	(52,936)
Distributions on Preferred Units	(615)	(615)
Share-based compensation expense, net of forfeitures	4,480	5,238
Adjustment of Redeemable Common Units to fair value and contributions/distributions from/to the General Partner	10,979	(3,055)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	482	(254)
Comprehensive income:
Net income	44,504	41,682
Balance	2,430,614	2,418,993
Accumulated Other Comprehensive Income (Loss) [Member] | Highwoods Realty Limited Partnership
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance	(1,211)	(973)
Comprehensive income:
Other comprehensive loss	(75)	(15)
Balance	(1,286)	(988)
Noncontrolling Interests in Consolidated Affiliates [Member] | Highwoods Realty Limited Partnership
Increase (Decrease) in Partners' Capital [Roll Forward]
Balance	22,235	22,416
Distributions to noncontrolling interests in consolidated affiliates		(1,411)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	(487)	257
Deconsolidation of affiliate	(17,281)
Comprehensive income:
Balance	$ 4,467	$ 21,262

HRLP - Consolidated Statement_4

HRLP - Consolidated Statements of Capital (Parentheticals) - Highwoods Realty Limited Partnership - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
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

HPI - Consolidated Statements_5

HPI - Consolidated Statements of Cash Flows - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Operating activities:
Net income		$ 44,954	$ 42,103
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		70,633	69,667
Amortization of lease incentives and acquisition-related intangible assets and liabilities		291	(87)
Share-based compensation expense		4,525	5,291
Net credit losses/(reversals) on operating lease receivables		(122)	366
Accrued interest on mortgages and notes receivable		(19)	(24)
Amortization of debt issuance costs		1,161	942
Amortization of cash flow hedges		(75)	(15)
Amortization of mortgages and notes payable fair value adjustments		(86)	(20)
Net gains on disposition of property		(450)	(4,100)
Gain on deconsolidation of affiliate		(11,778)	0
Equity in earnings of unconsolidated affiliates		(704)	(300)
Distributions of earnings from unconsolidated affiliates		613	591
Changes in operating assets and liabilities:
Accounts receivable		1,598	(1,038)
Prepaid expenses and other assets		(2,840)	(4,529)
Accrued straight-line rents receivable		(8,678)	(7,224)
Accounts payable, accrued expenses and other liabilities		(33,354)	(27,545)
Net cash provided by operating activities		65,669	74,078
Investing activities:
Investments in development in-process		(9,934)	(13,315)
Investments in tenant improvements and deferred leasing costs		(21,296)	(30,273)
Investments in building improvements		(25,815)	(15,413)
Net proceeds from disposition of real estate assets		1,862	9,469
Investments in mortgages and notes receivable		0	(24)
Repayments of mortgages and notes receivable		72	72
Investments in and advances to unconsolidated affiliates		(16,762)	(7,378)
Payments of earnest money deposits		(500)	0
Changes in other investing activities		(2,163)	(2,555)
Net cash used in investing activities		(74,536)	(59,417)
Financing activities:
Dividends on Common Stock		(52,621)	(52,424)
Redemptions/repurchases of Preferred Stock		(10)	0
Dividends on Preferred Stock		(621)	(621)
Distributions to noncontrolling interests in the Operating Partnership		(1,179)	(1,252)
Distributions to noncontrolling interests in consolidated affiliates		0	(1,411)
Proceeds from the issuance of Common Stock		553	6,501
Costs paid for the issuance of Common Stock		(56)	(183)
Repurchase of shares related to tax withholdings		(1,325)	(2,145)
Borrowings on revolving credit facility		92,000	70,000
Repayments of revolving credit facility		(223,000)	(30,000)
Borrowings on mortgages and notes payable		200,000	0
Repayments of mortgages and notes payable		(1,654)	(1,585)
Payments for debt issuance costs and other financing activities		(1,305)	0
Net cash provided by/(used in) financing activities		10,782	(13,120)
Net increase in cash and cash equivalents and restricted cash		1,915	1,541
Cash decrease from deconsolidation of affiliate		(6,386)	0
Cash and cash equivalents and restricted cash at beginning of the period		26,105	31,198
Cash and cash equivalents and restricted cash at end of the period		21,634	32,739
Reconciliation of cash and cash equivalents and restricted cash:
Cash and cash equivalents at end of the period		15,733	18,669
Restricted cash at end of the period		5,901	14,070
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized		39,633	34,380
Supplemental disclosure of non-cash investing and financing activities:
Changes in accrued capital expenditures	[1]	4,153	17,115
Write-off of fully depreciated real estate assets		24,625	12,183
Write-off of fully amortized leasing costs		11,247	6,150
Adjustment of noncontrolling interests in the Operating Partnership to fair value		11,102	(3,168)
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities		$ 49,200	$ 37,500
[1]Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities as of March 31, 2023 and 2022 were $49.2 million and $37.5 million, respectively.

HRLP - Consolidated Statement_5

HRLP - Consolidated Statements of Cash Flows - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Operating activities:
Net income		$ 44,954	$ 42,103
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		70,633	69,667
Amortization of lease incentives and acquisition-related intangible assets and liabilities		291	(87)
Share-based compensation expense		4,525	5,291
Net credit losses/(reversals) on operating lease receivables		(122)	366
Accrued interest on mortgages and notes receivable		(19)	(24)
Amortization of debt issuance costs		1,161	942
Amortization of cash flow hedges		(75)	(15)
Amortization of mortgages and notes payable fair value adjustments		(86)	(20)
Net gains on disposition of property		(450)	(4,100)
Gain on deconsolidation of affiliate		(11,778)	0
Equity in earnings of unconsolidated affiliates		(704)	(300)
Distributions of earnings from unconsolidated affiliates		613	591
Changes in operating assets and liabilities:
Accounts receivable		1,598	(1,038)
Prepaid expenses and other assets		(2,840)	(4,529)
Accrued straight-line rents receivable		(8,678)	(7,224)
Accounts payable, accrued expenses and other liabilities		(33,354)	(27,545)
Net cash provided by operating activities		65,669	74,078
Investing activities:
Investments in development in-process		(9,934)	(13,315)
Investments in tenant improvements and deferred leasing costs		(21,296)	(30,273)
Investments in building improvements		(25,815)	(15,413)
Net proceeds from disposition of real estate assets		1,862	9,469
Investments in mortgages and notes receivable		0	(24)
Repayments of mortgages and notes receivable		72	72
Investments in and advances to unconsolidated affiliates		(16,762)	(7,378)
Payments of earnest money deposits		(500)	0
Changes in other investing activities		(2,163)	(2,555)
Net cash used in investing activities		(74,536)	(59,417)
Financing activities:
Distributions to noncontrolling interests in consolidated affiliates		0	(1,411)
Borrowings on revolving credit facility		92,000	70,000
Repayments of revolving credit facility		(223,000)	(30,000)
Borrowings on mortgages and notes payable		200,000	0
Repayments of mortgages and notes payable		(1,654)	(1,585)
Payments for debt issuance costs and other financing activities		(1,305)	0
Net cash provided by/(used in) financing activities		10,782	(13,120)
Net increase in cash and cash equivalents and restricted cash		1,915	1,541
Cash decrease from deconsolidation of affiliate		(6,386)	0
Cash and cash equivalents and restricted cash at beginning of the period		26,105	31,198
Cash and cash equivalents and restricted cash at end of the period		21,634	32,739
Reconciliation of cash and cash equivalents and restricted cash:
Cash and cash equivalents at end of the period		15,733	18,669
Restricted cash at end of the period		5,901	14,070
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized		39,633	34,380
Supplemental disclosure of non-cash investing and financing activities:
Changes in accrued capital expenditures	[1]	4,153	17,115
Write-off of fully depreciated real estate assets		24,625	12,183
Write-off of fully amortized leasing costs		11,247	6,150
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities		49,200	37,500
Highwoods Realty Limited Partnership
Operating activities:
Net income		44,954	42,103
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		70,633	69,667
Amortization of lease incentives and acquisition-related intangible assets and liabilities		291	(87)
Share-based compensation expense		4,525	5,291
Net credit losses/(reversals) on operating lease receivables		(122)	366
Accrued interest on mortgages and notes receivable		(19)	(24)
Amortization of debt issuance costs		1,161	942
Amortization of cash flow hedges		(75)	(15)
Amortization of mortgages and notes payable fair value adjustments		(86)	(20)
Net gains on disposition of property		(450)	(4,100)
Gain on deconsolidation of affiliate		(11,778)	0
Equity in earnings of unconsolidated affiliates		(704)	(300)
Distributions of earnings from unconsolidated affiliates		613	591
Changes in operating assets and liabilities:
Accounts receivable		1,598	(1,038)
Prepaid expenses and other assets		(2,840)	(4,529)
Accrued straight-line rents receivable		(8,678)	(7,224)
Accounts payable, accrued expenses and other liabilities		(33,354)	(27,545)
Net cash provided by operating activities		65,669	74,078
Investing activities:
Investments in development in-process		(9,934)	(13,315)
Investments in tenant improvements and deferred leasing costs		(21,296)	(30,273)
Investments in building improvements		(25,815)	(15,413)
Net proceeds from disposition of real estate assets		1,862	9,469
Investments in mortgages and notes receivable		0	(24)
Repayments of mortgages and notes receivable		72	72
Investments in and advances to unconsolidated affiliates		(16,762)	(7,378)
Payments of earnest money deposits		(500)	0
Changes in other investing activities		(2,163)	(2,555)
Net cash used in investing activities		(74,536)	(59,417)
Financing activities:
Distributions on Common Units		(53,595)	(53,471)
Redemptions/repurchases of Preferred Units		(10)	0
Distributions on Preferred Units		(621)	(621)
Distributions to noncontrolling interests in consolidated affiliates		0	(1,411)
Proceeds from the issuance of Common Units		553	6,501
Costs paid for the issuance of Common Units		(56)	(183)
Repurchase of units related to tax withholdings		(1,325)	(2,145)
Borrowings on revolving credit facility		92,000	70,000
Repayments of revolving credit facility		(223,000)	(30,000)
Borrowings on mortgages and notes payable		200,000	0
Repayments of mortgages and notes payable		(1,654)	(1,585)
Payments for debt issuance costs and other financing activities		(1,510)	(205)
Net cash provided by/(used in) financing activities		10,782	(13,120)
Net increase in cash and cash equivalents and restricted cash		1,915	1,541
Cash decrease from deconsolidation of affiliate		(6,386)	0
Cash and cash equivalents and restricted cash at beginning of the period		26,105	31,198
Cash and cash equivalents and restricted cash at end of the period		21,634	32,739
Reconciliation of cash and cash equivalents and restricted cash:
Cash and cash equivalents at end of the period		15,733	18,669
Restricted cash at end of the period		5,901	14,070
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized		39,633	34,380
Supplemental disclosure of non-cash investing and financing activities:
Changes in accrued capital expenditures	[1]	4,153	17,115
Write-off of fully depreciated real estate assets		24,625	12,183
Write-off of fully amortized leasing costs		11,247	6,150
Adjustment of Redeemable Common Units to fair value		11,295	(2,881)
Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities		$ 49,200	$ 37,500
[1]Accrued capital expenditures included in accounts payable, accrued expenses and other liabilities as of March 31, 2023 and 2022 were $49.2 million and $37.5 million, respectively.

Description of Business and Sig

Description of Business and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
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, 2023, we owned or had an interest in 28.8 million rentable square feet of in-service properties, 1.6 million rentable square feet of office properties under development and development land with approximately 5.2 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, 2023, the Company owned all of the Preferred Units and 105.0 million, or 97.8%, of the Common Units in the Operating Partnership. Limited partners owned the remaining 2.4 million Common Units. During the first quarter of 2023, we entered into separate equity distribution agreements in which the Company may offer and sell up to 300.0 million in aggregate gross sales price of shares of Common Stock. During the three months ended March 31, 2023, the Company issued no shares of Common Stock under its equity distribution agreements. Basis of Presentation Our Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The Company’s Consolidated Financial Statements include the Operating Partnership, wholly owned subsidiaries and those entities in which the Company has the controlling interest. The Operating Partnership’s Consolidated Financial Statements include wholly owned subsidiaries and those entities in which the Operating Partnership has the controlling interest. We consolidate joint venture investments, such as interests in partnerships and limited liability companies, when we control the major operating and financial policies of the investment through majority ownership, in our capacity as a general partner or managing member or through some other contractual right. In addition, we consolidate those entities deemed to be variable interest entities in which we are determined to be the primary beneficiary. As of March 31, 2023, we have involvement 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. We also own three properties through a joint venture investment that were deconsolidated effective January 1, 2023 (See Note 3). All intercompany transactions and accounts have been eliminated. The unaudited interim consolidated financial statements and accompanying unaudited consolidated financial information, in the opinion of management, contain all adjustments (including normal recurring accruals) necessary for a fair presentation of our financial position, results of operations and cash flows. We have condensed or omitted certain notes and other information from the interim Consolidated Financial Statements presented in this Quarterly Report as permitted by SEC rules and regulations. These Consolidated Financial Statements should be read in conjunction with our 2022 Annual Report on Form 10-K. Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in our Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates. Insurance We are primarily self-insured for health care claims for participating employees. We have stop-loss coverage to limit our exposure to significant claims on a per claim and annual aggregate basis. We determine our liabilities for claims, including incurred but not reported losses, based on all relevant information, including actuarial estimates of claim liabilities. As of March 31, 2023, a reserve of $0.5 million was recorded to cover estimated reported and unreported claims. Recently Issued Accounting Standards The Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) that provides temporary optional expedients and exceptions to the guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (“SOFR”). Entities can elect not to apply certain modification accounting requirements to contracts affected by reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Entities can also elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. The guidance in this ASU is optional and may be elected now through December 31, 2024 as reference rate reform activities occur. We will continue to evaluate the impact of this ASU; however, we currently expect to avail ourselves of such optional expedients and exceptions should our modified contracts meet the required criteria.

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	Leases Operating Leases We generally lease our office properties to lessees in exchange for fixed monthly payments that cover rent, property taxes, insurance and certain cost recoveries, primarily common area maintenance. Office properties owned by us that are under lease are primarily located in Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa and are leased to a wide variety of lessees across many industries. Our leases are operating leases and mostly range from three

Investments in and Advances to

Investments in and Advances to Affiliates	3 Months Ended
	Mar. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments in and Advances to Affiliates	Investments in and Advances to Affiliates Unconsolidated Affiliates - Highwoods-Markel Associates, LLC (“Markel”) Markel is a joint venture in which we own a 50.0% interest that was consolidated as of December 31, 2022 because we controlled the major operating and financial policies of the entity. Effective January 1, 2023, the agreement governing the joint venture was modified to require the consent of both partners for major operating and financial policies of the entity. As a result, Markel was deconsolidated effective January 1, 2023, and this joint venture is now accounted for using the equity method of accounting. We recognized a gain on deconsolidation of $11.8 million related to adjusting our retained interest in the joint venture to fair value. The assets of Markel can be used only to settle obligations of the joint venture, and its creditors have no recourse to our wholly owned assets. - Granite Park Six JV, LLC/ GPI 23 Springs JV, LLC (“Granite Park Six joint venture”/“23Springs joint venture”) During 2022, we entered the Dallas market through the formation of two joint ventures with Granite Properties (“Granite”) to develop Granite Park Six and 23Springs. 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 are not sufficient to finance the planned investments and operations. We concluded we do not have the power to direct matters that most significantly impact the activities of either entity and therefore do not qualify as the primary beneficiary. Accordingly, the entities are not consolidated. As of March 31, 2023, our risk of loss with respect to these arrangements was limited to the carrying value of each investment balance. Our investment balances were $41.0 million and $46.9 million as of March 31, 2023 for Granite Park Six and 23Springs, respectively. The assets of the Granite Park Six and 23Springs joint ventures can be used only to settle obligations of the respective joint venture, and their creditors have no recourse to our wholly owned assets. - M+O JV, LLC (“McKinney & Olive joint venture”) During 2022, we expanded our Dallas market presence by acquiring McKinney & Olive through the formation of another joint venture with Granite. We own a 50.0% interest in this joint venture. 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 requires additional subordinated financial support in the form of a loan because the initial equity investments by us and Granite, including the additional preferred equity provided by us, are not sufficient to finance its planned investments and operations. We concluded we do not have the power to direct matters that most significantly impact the activities of the entity and therefore do not qualify as the primary beneficiary. Accordingly, the entity is not consolidated. As of March 31, 2023, our risk of loss with respect to this arrangement was $165.6 million, which represents the carrying value of our investment balance and includes $80.0 million of preferred equity that we funded to the joint venture. 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”) During 2022, we formed the Midtown East joint venture in Tampa with The Bromley Companies (“Bromley”). We own a 50.0% interest in this joint venture. 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 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 are not sufficient to finance its planned investments and operations. We concluded we do not have the power to direct matters that most significantly impact the activities of the entity and therefore do not qualify as the primary beneficiary. Accordingly, the entity is not consolidated. As of March 31, 2023, our risk of loss with respect to this arrangement was limited to the carrying value of the investment balance of $1.3 million as no amounts were outstanding under the loan we have provided to the joint venture. 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”) During 2021, we formed the 2827 Peachtree joint venture in Atlanta with Brand Properties, LLC (“Brand”). We own a 50.0% interest in this joint venture. We determined that we have a variable interest in the 2827 Peachtree joint venture primarily because the entity was designed to pass along interest rate risk, equity price risk and operation risk to us as both a debt and equity holder and Brand as an equity holder. The 2827 Peachtree joint venture was further determined to be a variable interest entity as it requires additional subordinated financial support in the form of a loan because the initial equity investments provided by us and Brand are not sufficient to finance its planned investments and operations. We concluded we do not have the power to direct matters that most significantly impact the activities of the entity and therefore do not qualify as the primary beneficiary. Accordingly, the entity is not consolidated. As of March 31, 2023, our risk of loss with respect to this arrangement was $44.6 million, which consists of the $29.3 million carrying value of our investment balance plus the $15.3 million outstanding balance of the loan we have provided to the joint venture. 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”) In 2019, we formed the Midtown West joint Venture in Tampa with Bromley. We own an 80.0% interest in this joint venture. We determined that we have a variable interest in the Midtown West joint venture primarily because the entity was designed to pass along interest rate risk, equity price risk and operation risk to us as both a debt and an equity holder and Bromley as an equity holder. The Midtown West joint venture was further determined to be a variable interest entity as it requires additional subordinated financial support in the form of a loan because the initial equity investment provided by us and Bromley is not sufficient to finance its planned investments and operations. We, as majority owner and managing member and through our control rights as set forth in the joint venture’s governance documents, were determined to be the primary beneficiary as we have both the power to direct the activities that most significantly affect the entity (primarily lease rates, property operations and capital expenditures) and significant economic exposure through our equity investment and loan commitment. As such, the Midtown West joint venture is consolidated and all intercompany transactions and accounts are eliminated. The following table sets forth the assets and liabilities of the Midtown West joint venture included on our Consolidated Balance Sheets: March 31, December 31, Net real estate assets $ 59,967 $ 59,854 Cash and cash equivalents $ 1,919 $ 1,009 Accounts receivable $ 992 $ 1,490 Accrued straight-line rents receivable $ 3,130 $ 1,921 Deferred leasing costs, net $ 2,641 $ 2,677 Prepaid expenses and other assets, net $ 142 $ 153 Accounts payable, accrued expenses and other liabilities $ 1,759 $ 1,212

Intangible Assets and Below Mar

Intangible Assets and Below Market Lease Liabilities	3 Months Ended
	Mar. 31, 2023
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, December 31, Assets: Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets) $ 410,584 $ 416,579 Less accumulated amortization (164,202) (163,751) $ 246,382 $ 252,828 Liabilities (in accounts payable, accrued expenses and other liabilities): Acquisition-related below market lease liabilities $ 54,962 $ 55,304 Less accumulated amortization (30,771) (29,859) $ 24,191 $ 25,445 The following table sets forth amortization of intangible assets and below market lease liabilities: Three Months Ended 2023 2022 Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization) $ 10,232 $ 11,245 Amortization of lease incentives (in rental and other revenues) $ 714 $ 450 Amortization of acquisition-related intangible assets (in rental and other revenues) $ 831 $ 830 Amortization of acquisition-related below market lease liabilities (in rental and other revenues) $ (1,254) $ (1,367) The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities: Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) Amortization of Lease Incentives (in Rental and Other Revenues) Amortization of Acquisition-Related Intangible Assets (in Rental and Other Revenues) Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues) April 1 through December 31, 2023 $ 32,014 $ 1,687 $ 2,471 $ (3,634) 2024 37,543 1,825 3,088 (4,219) 2025 30,506 1,733 2,220 (2,729) 2026 26,179 1,527 1,860 (2,514) 2027 22,386 1,325 1,518 (2,112) Thereafter 69,088 3,814 5,598 (8,983) $ 217,716 $ 11,911 $ 16,755 $ (24,191) Weighted average remaining amortization periods as of March 31, 2023 (in years) 7.7 7.5 7.4 8.3

Mortgages and Notes Payable

Mortgages and Notes Payable	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Mortgages and Notes Payable	Mortgages and Notes Payable The following table sets forth our mortgages and notes payable: March 31, December 31, Secured indebtedness $ 681,956 $ 483,988 Unsecured indebtedness 2,598,912 2,729,620 Less-unamortized debt issuance costs (16,899) (16,393) Total mortgages and notes payable, net $ 3,263,969 $ 3,197,215 As of March 31, 2023, our secured mortgage loans were collateralized by real estate assets with an undepreciated book value of $1,157.2 million. Our $750.0 million unsecured revolving credit facility is scheduled to mature in March 2025 and includes an accordion feature that currently allows for an additional $200.0 million of borrowing capacity subject to additional lender commitments. Assuming no defaults have occurred, we have an option to extend the maturity for two additional six During the first quarter of 2023, we obtained a $200.0 million, five 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 25, 2023 (the date of issuance of the quarterly financial statements) and the adequacy of our estimated cash flows from operating activities and other available financing sources to meet these needs. We have concluded it is probable we will meet these short-term liquidity requirements through a combination of the following: • available cash and cash equivalents; • cash flows from operating activities; • issuance of debt securities by the Operating Partnership; • issuance of secured debt; • bank term loans; • borrowings under our revolving credit facility; • issuance of equity securities by the Company or the Operating Partnership; and • the disposition of non-core assets.

Noncontrolling Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2023
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests Noncontrolling Interests in Consolidated Affiliates As of March 31, 2023, 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 2023 2022 Beginning noncontrolling interests in the Operating Partnership $ 65,977 $ 111,689 Adjustment of noncontrolling interests in the Operating Partnership to fair value (11,102) 3,168 Net income attributable to noncontrolling interests in the Operating Partnership 986 965 Distributions to noncontrolling interests in the Operating Partnership (1,179) (1,252) Total noncontrolling interests in the Operating Partnership $ 54,682 $ 114,570 There were no transfers from noncontrolling interests during the three months ended March 31, 2023 and 2022.

Disclosure About Fair Value of

Disclosure About Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Disclosure About Fair Value of Financial Instruments	Disclosure About Fair Value of Financial Instruments The following summarizes the levels of inputs that we use to measure fair value. Level 1. Quoted prices in active markets for identical assets or liabilities. Our Level 1 asset is our investment in marketable securities that we use to pay benefits under our non-qualified deferred compensation plan. Our Level 1 liability is our non-qualified deferred compensation obligation. The Company’s Level 1 noncontrolling interests in the Operating Partnership relate to the ownership of Common Units by various individuals and entities other than the Company. Level 2. Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities. Our Level 2 assets include the fair value of our mortgages and notes receivable. Our Level 2 liabilities include the fair value of our mortgages and notes payable and any interest rate swaps. The fair value of mortgages and notes receivable and mortgages and notes payable is estimated by the income approach utilizing contractual cash flows and market-based interest rates to approximate the price that would be paid in an orderly transaction between market participants. The fair value of any interest rate swaps is determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The variable cash payments of interest rate swaps are based on the expectation of future interest rates (forward curves) derived from observed market interest rate curves. In addition, credit valuation adjustments are considered in the fair values to account for potential nonperformance risk, but were concluded to not be significant inputs to the calculation for the periods presented. Level 3. Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Our Level 3 assets include any real estate assets recorded at fair value on a non-recurring basis as a result of our quarterly impairment analysis, which are valued using unobservable local and national industry market data such as comparable sales, appraisals, brokers’ opinions of value and/or the terms of definitive sales contracts. Significant increases or decreases in any valuation inputs in isolation would result in a significantly lower or higher fair value measurement. The following table sets forth our assets and liabilities and the Company’s noncontrolling interests in the Operating Partnership that are measured or disclosed at fair value within the fair value hierarchy: Level 1 Level 2 Total Quoted Prices Significant Observable Inputs Fair Value as of March 31, 2023: Assets: Mortgages and notes receivable, at fair value (1) $ 998 $ — $ 998 Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 2,085 2,085 — Total Assets $ 3,083 $ 2,085 $ 998 Noncontrolling Interests in the Operating Partnership $ 54,682 $ 54,682 $ — Liabilities: Mortgages and notes payable, net, at fair value (1) $ 2,876,619 $ — $ 2,876,619 Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 2,085 2,085 — Total Liabilities $ 2,878,704 $ 2,085 $ 2,876,619 Fair Value as of December 31, 2022: Assets: Mortgages and notes receivable, at fair value (1) $ 1,051 $ — $ 1,051 Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 2,564 2,564 — Total Assets $ 3,615 $ 2,564 $ 1,051 Noncontrolling Interests in the Operating Partnership $ 65,977 $ 65,977 $ — Liabilities: Mortgages and notes payable, net, at fair value (1) $ 2,832,973 $ — $ 2,832,973 Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 2,564 2,564 — Total Liabilities $ 2,835,537 $ 2,564 $ 2,832,973 __________ (1) Amounts are not recorded at fair value on our Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022. As of January 1, 2023, there was a level 3 investment in an unconsolidated affiliate that was measured at a fair value of $57.1 million upon deconsolidation. The estimated fair value was calculated using a broker opinion of value, which incorporates an income approach, as observable inputs were not available. Key assumptions used in the fair value calculation for the operating buildings were an estimated discount rate of 10.8% and an estimated terminal capitalization rate of 8.8%. The estimated fair value of the surrounding land currently used for parking was calculated based on its multifamily development potential, which was determined to be the highest and best use of the land.

Share-Based Payments

Share-Based Payments	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Payments	Share-Based PaymentsDuring the three months ended March 31, 2023, the Company granted 150,249 shares of time-based restricted stock and 122,484 shares of total return-based restricted stock with weighted average grant date fair values per share of $26.50 and $27.13, respectively. We recorded share-based compensation expense of $4.5 million and $5.3 million during the three months ended March 31, 2023 and 2022. As of March 31, 2023, there was $6.4 million of total unrecognized share-based compensation costs, which will be recognized over a weighted average remaining contractual term of 2.5 years.

Earnings Per Share and Per Unit

Earnings Per Share and Per Unit	3 Months Ended
	Mar. 31, 2023
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 2023 2022 Earnings per Common Share - basic: Numerator: Net income $ 44,954 $ 42,103 Net (income) attributable to noncontrolling interests in the Operating Partnership (986) (965) Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 487 (257) Dividends on Preferred Stock (621) (621) Net income available for common stockholders $ 43,834 $ 40,260 Denominator: Denominator for basic earnings per Common Share – weighted average shares (1) 105,288 104,933 Net income available for common stockholders $ 0.42 $ 0.38 Earnings per Common Share - diluted: Numerator: Net income $ 44,954 $ 42,103 Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 487 (257) Dividends on Preferred Stock (621) (621) Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership $ 44,820 $ 41,225 Denominator: Denominator for basic earnings per Common Share – weighted average shares (1) 105,288 104,933 Add: Stock options using the treasury method — 15 Noncontrolling interests Common Units 2,358 2,505 Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions 107,646 107,453 Net income available for common stockholders $ 0.42 $ 0.38 __________ (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 2023 2022 Earnings per Common Unit - basic: Numerator: Net income $ 44,954 $ 42,103 Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 487 (257) Distributions on Preferred Units (621) (621) Net income available for common unitholders $ 44,820 $ 41,225 Denominator: Denominator for basic earnings per Common Unit – weighted average units (1) 107,237 107,029 Net income available for common unitholders $ 0.42 $ 0.39 Earnings per Common Unit - diluted: Numerator: Net income $ 44,954 $ 42,103 Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 487 (257) Distributions on Preferred Units (621) (621) Net income available for common unitholders $ 44,820 $ 41,225 Denominator: Denominator for basic earnings per Common Unit – weighted average units (1) 107,237 107,029 Add: Stock options using the treasury method — 15 Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions 107,237 107,044 Net income available for common unitholders $ 0.42 $ 0.39 __________ (1) Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable .

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information The following tables summarize the rental and other revenues and net operating income, the primary industry property-level performance metric used by our chief operating decision maker and which is defined as rental and other revenues less rental property and other expenses, for our office properties. Our segment information for the three months ended March 31, 2022 has been retrospectively revised from previously reported amounts to reflect a change in our reportable segments as a result of our plan to exit the Pittsburgh market. Three Months Ended 2023 2022 Rental and Other Revenues: Atlanta $ 36,870 $ 35,554 Charlotte 21,580 16,944 Nashville 44,564 43,447 Orlando 14,394 13,312 Raleigh 45,878 46,296 Richmond 9,309 10,533 Tampa 25,391 24,023 Total Office Segment 197,986 190,109 Other 14,766 16,269 Total Rental and Other Revenues $ 212,752 $ 206,378 Net Operating Income: Atlanta $ 24,225 $ 23,681 Charlotte 16,110 13,050 Nashville 33,025 32,522 Orlando 8,772 8,137 Raleigh 33,606 34,715 Richmond 6,570 7,225 Tampa 16,404 15,946 Total Office Segment 138,712 135,276 Other 8,309 9,680 Total Net Operating Income 147,021 144,956 Reconciliation to net income: Depreciation and amortization (70,633) (69,667) General and administrative expenses (12,415) (13,556) Interest expense (33,098) (24,393) Other income 1,147 363 Gains on disposition of property 450 4,100 Gain on deconsolidation of affiliate 11,778 — Equity in earnings of unconsolidated affiliates 704 300 Net income $ 44,954 $ 42,103

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 21, 2023, we received $40.0 million of net proceeds upon the full redemption of our $80.0 million short-term preferred equity investment in the McKinney & Olive joint venture. Such net proceeds were used to repay amounts outstanding under our $750.0 million revolving credit facility. Prior to the redemption, the preferred equity received monthly distributions at a rate of SOFR plus 350 basis points. On April 19, 2023, the Company declared a cash dividend of $0.50 per share of Common Stock, which is payable on June 13, 2023 to stockholders of record as of May 22, 2023.

Description of Business and S_2

Description of Business and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
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, 2023, we have involvement 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. We also own three properties through a joint venture investment that were deconsolidated effective January 1, 2023 (See Note 3). All intercompany transactions and accounts have been eliminated.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires us to make estimates and assumptions that affect the amounts reported in our Consolidated Financial Statements and accompanying notes. Actual results could differ from those estimates.
Insurance	InsuranceWe are primarily self-insured for health care claims for participating employees. We have stop-loss coverage to limit our exposure to significant claims on a per claim and annual aggregate basis. We determine our liabilities for claims, including incurred but not reported losses, based on all relevant information, including actuarial estimates of claim liabilities.
Recently Issued Accounting Standards	Recently Issued Accounting Standards The Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) that provides temporary optional expedients and exceptions to the guidance on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (“SOFR”). Entities can elect not to apply certain modification accounting requirements to contracts affected by reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. Entities can also elect various optional expedients that would allow them to continue applying hedge accounting for hedging relationships affected by reference rate reform, if certain criteria are met. The guidance in this ASU is optional and may be elected now through December 31, 2024 as reference rate reform activities occur. We will continue to evaluate the impact of this ASU; however, we currently expect to avail ourselves of such optional expedients and exceptions should our modified contracts meet the required criteria.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2023
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, December 31, Net real estate assets $ 59,967 $ 59,854 Cash and cash equivalents $ 1,919 $ 1,009 Accounts receivable $ 992 $ 1,490 Accrued straight-line rents receivable $ 3,130 $ 1,921 Deferred leasing costs, net $ 2,641 $ 2,677 Prepaid expenses and other assets, net $ 142 $ 153 Accounts payable, accrued expenses and other liabilities $ 1,759 $ 1,212

Intangible Assets and Below M_2

Intangible Assets and Below Market Lease Liabilities (Tables)	3 Months Ended
	Mar. 31, 2023
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, December 31, Assets: Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets) $ 410,584 $ 416,579 Less accumulated amortization (164,202) (163,751) $ 246,382 $ 252,828 Liabilities (in accounts payable, accrued expenses and other liabilities): Acquisition-related below market lease liabilities $ 54,962 $ 55,304 Less accumulated amortization (30,771) (29,859) $ 24,191 $ 25,445
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 2023 2022 Amortization of deferred leasing costs and acquisition-related intangible assets (in depreciation and amortization) $ 10,232 $ 11,245 Amortization of lease incentives (in rental and other revenues) $ 714 $ 450 Amortization of acquisition-related intangible assets (in rental and other revenues) $ 831 $ 830 Amortization of acquisition-related below market lease liabilities (in rental and other revenues) $ (1,254) $ (1,367)
Scheduled Future Amortization of Intangible Assets and Below Market Lease Liabilities	The following table sets forth scheduled future amortization of intangible assets and below market lease liabilities: Amortization of Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) Amortization of Lease Incentives (in Rental and Other Revenues) Amortization of Acquisition-Related Intangible Assets (in Rental and Other Revenues) Amortization of Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues) April 1 through December 31, 2023 $ 32,014 $ 1,687 $ 2,471 $ (3,634) 2024 37,543 1,825 3,088 (4,219) 2025 30,506 1,733 2,220 (2,729) 2026 26,179 1,527 1,860 (2,514) 2027 22,386 1,325 1,518 (2,112) Thereafter 69,088 3,814 5,598 (8,983) $ 217,716 $ 11,911 $ 16,755 $ (24,191) Weighted average remaining amortization periods as of March 31, 2023 (in years) 7.7 7.5 7.4 8.3

Mortgages and Notes Payable (Ta

Mortgages and Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Consolidated Mortgages and Notes Payable	The following table sets forth our mortgages and notes payable: March 31, December 31, Secured indebtedness $ 681,956 $ 483,988 Unsecured indebtedness 2,598,912 2,729,620 Less-unamortized debt issuance costs (16,899) (16,393) Total mortgages and notes payable, net $ 3,263,969 $ 3,197,215

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2023
Highwoods Properties, Inc. [Member]
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 2023 2022 Beginning noncontrolling interests in the Operating Partnership $ 65,977 $ 111,689 Adjustment of noncontrolling interests in the Operating Partnership to fair value (11,102) 3,168 Net income attributable to noncontrolling interests in the Operating Partnership 986 965 Distributions to noncontrolling interests in the Operating Partnership (1,179) (1,252) Total noncontrolling interests in the Operating Partnership $ 54,682 $ 114,570

Disclosure About Fair Value o_2

Disclosure About Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2023
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 1 Level 2 Total Quoted Prices Significant Observable Inputs Fair Value as of March 31, 2023: Assets: Mortgages and notes receivable, at fair value (1) $ 998 $ — $ 998 Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 2,085 2,085 — Total Assets $ 3,083 $ 2,085 $ 998 Noncontrolling Interests in the Operating Partnership $ 54,682 $ 54,682 $ — Liabilities: Mortgages and notes payable, net, at fair value (1) $ 2,876,619 $ — $ 2,876,619 Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 2,085 2,085 — Total Liabilities $ 2,878,704 $ 2,085 $ 2,876,619 Fair Value as of December 31, 2022: Assets: Mortgages and notes receivable, at fair value (1) $ 1,051 $ — $ 1,051 Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets) 2,564 2,564 — Total Assets $ 3,615 $ 2,564 $ 1,051 Noncontrolling Interests in the Operating Partnership $ 65,977 $ 65,977 $ — Liabilities: Mortgages and notes payable, net, at fair value (1) $ 2,832,973 $ — $ 2,832,973 Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities) 2,564 2,564 — Total Liabilities $ 2,835,537 $ 2,564 $ 2,832,973 __________

Earnings Per Share and Per Un_2

Earnings Per Share and Per Unit (Tables)	3 Months Ended
	Mar. 31, 2023
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 2023 2022 Earnings per Common Share - basic: Numerator: Net income $ 44,954 $ 42,103 Net (income) attributable to noncontrolling interests in the Operating Partnership (986) (965) Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 487 (257) Dividends on Preferred Stock (621) (621) Net income available for common stockholders $ 43,834 $ 40,260 Denominator: Denominator for basic earnings per Common Share – weighted average shares (1) 105,288 104,933 Net income available for common stockholders $ 0.42 $ 0.38 Earnings per Common Share - diluted: Numerator: Net income $ 44,954 $ 42,103 Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 487 (257) Dividends on Preferred Stock (621) (621) Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership $ 44,820 $ 41,225 Denominator: Denominator for basic earnings per Common Share – weighted average shares (1) 105,288 104,933 Add: Stock options using the treasury method — 15 Noncontrolling interests Common Units 2,358 2,505 Denominator for diluted earnings per Common Share – adjusted weighted average shares and assumed conversions 107,646 107,453 Net income available for common stockholders $ 0.42 $ 0.38 __________
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 2023 2022 Earnings per Common Unit - basic: Numerator: Net income $ 44,954 $ 42,103 Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 487 (257) Distributions on Preferred Units (621) (621) Net income available for common unitholders $ 44,820 $ 41,225 Denominator: Denominator for basic earnings per Common Unit – weighted average units (1) 107,237 107,029 Net income available for common unitholders $ 0.42 $ 0.39 Earnings per Common Unit - diluted: Numerator: Net income $ 44,954 $ 42,103 Net (income)/loss attributable to noncontrolling interests in consolidated affiliates 487 (257) Distributions on Preferred Units (621) (621) Net income available for common unitholders $ 44,820 $ 41,225 Denominator: Denominator for basic earnings per Common Unit – weighted average units (1) 107,237 107,029 Add: Stock options using the treasury method — 15 Denominator for diluted earnings per Common Unit – adjusted weighted average units and assumed conversions 107,237 107,044 Net income available for common unitholders $ 0.42 $ 0.39 __________ (1) Includes all unvested restricted stock where distributions on such restricted stock are non-forfeitable .

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The following tables summarize the rental and other revenues and net operating income, the primary industry property-level performance metric used by our chief operating decision maker and which is defined as rental and other revenues less rental property and other expenses, for our office properties. Our segment information for the three months ended March 31, 2022 has been retrospectively revised from previously reported amounts to reflect a change in our reportable segments as a result of our plan to exit the Pittsburgh market. Three Months Ended 2023 2022 Rental and Other Revenues: Atlanta $ 36,870 $ 35,554 Charlotte 21,580 16,944 Nashville 44,564 43,447 Orlando 14,394 13,312 Raleigh 45,878 46,296 Richmond 9,309 10,533 Tampa 25,391 24,023 Total Office Segment 197,986 190,109 Other 14,766 16,269 Total Rental and Other Revenues $ 212,752 $ 206,378
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Net Operating Income: Atlanta $ 24,225 $ 23,681 Charlotte 16,110 13,050 Nashville 33,025 32,522 Orlando 8,772 8,137 Raleigh 33,606 34,715 Richmond 6,570 7,225 Tampa 16,404 15,946 Total Office Segment 138,712 135,276 Other 8,309 9,680 Total Net Operating Income 147,021 144,956 Reconciliation to net income: Depreciation and amortization (70,633) (69,667) General and administrative expenses (12,415) (13,556) Interest expense (33,098) (24,393) Other income 1,147 363 Gains on disposition of property 450 4,100 Gain on deconsolidation of affiliate 11,778 — Equity in earnings of unconsolidated affiliates 704 300 Net income $ 44,954 $ 42,103

Description of Business and S_3

Description of Business and Significant Accounting Policies (Details) $ in Thousands, ft² in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) ft² numberOfEntities shares	Mar. 31, 2022 USD ($)	Jan. 01, 2023 numberOfProperties
Description of Business [Abstract]
Rentable square feet of commercial real estate properties (in sq feet) | ft²	28.8
Rentable square feet of commercial real estate office properties under development (in sq feet) | ft²	1.6
Rentable square feet of potential office build (in sq feet) | ft²	5.2
Net proceeds of Common Stock sold during the period | $	$ (828)	$ 4,173
Number of VIE entities | numberOfEntities	6
Number of deconsolidated joint venture properties | numberOfProperties			3
Self insurance liability | $	$ 500
Highwoods Properties, Inc. [Member]
Description of Business [Abstract]
Common Units of partnership owned by the Company (in shares) | shares	105,000,000
Percentage of ownership of Common Units (in hundredths)	97.80%
Highwoods Properties, Inc. [Member] | ATM Equity Offering
Description of Business [Abstract]
Number of Common Stock sold during the period (in shares) | 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) | shares	2,400,000
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

Leases ASC 842 (Details)

Leases ASC 842 (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Lessor Disclosure [Abstract]
Rental and other revenues related to operating lease payments	$ 209.4	$ 203.6
Variable lease income	$ 19.4	$ 17.4
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

Investments in and Advances t_2

Investments in and Advances to Affiliates (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2022 numberOfJointVentures
Schedule of Equity Method Investments [Line Items]
Gain on deconsolidation of affiliate	$ 11,778	$ 0
Number of joint ventures formed | numberOfJointVentures			2
Highwoods-Markel Associates, LLC Joint Venture
Schedule of Equity Method Investments [Line Items]
Percentage of equity interest in joint venture (in hundredths)	50%
Gain on deconsolidation of affiliate	$ 11,800
Granite Park Six JV, LLC
Schedule of Equity Method Investments [Line Items]
Percentage of equity interest in joint venture (in hundredths)	50%
GPI23 Springs JV, LLC
Schedule of Equity Method Investments [Line Items]
Percentage of equity interest in joint venture (in hundredths)	50%
M+O JV, LLC
Schedule of Equity Method Investments [Line Items]
Percentage of equity interest in joint venture (in hundredths)	50%
Midtown East Tampa, LLC
Schedule of Equity Method Investments [Line Items]
Percentage of equity interest in joint venture (in hundredths)	50%
Brand/HRLP 2827 Peachtree LLC
Schedule of Equity Method Investments [Line Items]
Percentage of equity interest in joint venture (in hundredths)	50%

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Variable Interest Entities [Line Items]
Investments in and advances to unconsolidated affiliates	$ 314,149,000	$ 269,221,000
Assets and liabilities of consolidated variable interest entity [Abstract]
Net real estate assets	5,089,639,000	5,126,925,000
Cash and cash equivalents	15,733,000	21,357,000	$ 18,669,000
Accounts receivable	24,561,000	25,481,000
Accrued straight-line rents receivable	302,080,000	293,674,000
Deferred leasing costs, net	246,382,000	252,828,000
Prepaid expense and other assets, net	70,570,000	68,091,000
Accounts payable, accrued expenses and other liabilities	264,203,000	301,184,000
Granite Park Six JV, LLC
Variable Interest Entities [Line Items]
Risk of loss limited to carrying value	41,000,000
GPI23 Springs JV, LLC
Variable Interest Entities [Line Items]
Risk of loss limited to carrying value	46,900,000
M+O JV, LLC
Variable Interest Entities [Line Items]
Risk of loss limited to carrying value	165,600,000
Short-term Preferred Equity contributed to joint venture	80,000,000
Midtown East Tampa, LLC
Variable Interest Entities [Line Items]
Risk of loss limited to carrying value	1,300,000
Amount of loan funded to affiliate	0
Brand/HRLP 2827 Peachtree LLC
Variable Interest Entities [Line Items]
Risk of loss limited to carrying value	44,600,000
Amount of loan funded to affiliate	15,300,000
Investments in and advances to unconsolidated affiliates	$ 29,300,000
HRLP MTW, LLC [Member]
Variable Interest Entities [Line Items]
Interest in joint venture (in hundredths)	80%
Assets and liabilities of consolidated variable interest entity [Abstract]
Net real estate assets	$ 59,967,000	59,854,000
Cash and cash equivalents	1,919,000	1,009,000
Accounts receivable	992,000	1,490,000
Accrued straight-line rents receivable	3,130,000	1,921,000
Deferred leasing costs, net	2,641,000	2,677,000
Prepaid expense and other assets, net	142,000	153,000
Accounts payable, accrued expenses and other liabilities	$ 1,759,000	$ 1,212,000

Intangible Assets and Below M_3

Intangible Assets and Below Market Lease Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Assets:
Deferred leasing costs (including lease incentives and above market lease and in-place lease acquisition-related intangible assets)	$ 410,584		$ 416,579
Deferred leasing costs, accumulated amortization	(164,202)		(163,751)
Deferred leasing costs, net/Total scheduled future amortization of intangible assets	246,382		252,828
Liabilities (in accounts payable, accrued expenses and other liabilities):
Acquisition-related below market lease liabilities, gross	54,962		55,304
Acquisition-related below market lease liabilities, accumulated amortization	(30,771)		(29,859)
Acquisition-related below market lease liabilities, net	24,191		$ 25,445
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	217,716
Amortization of intangible assets and below market lease liabilities [Abstract]
Amortization of intangible assets	10,232	$ 11,245
Lease Incentives (in Rental and Other Revenues) [Member]
Assets:
Deferred leasing costs, net/Total scheduled future amortization of intangible assets	11,911
Amortization of intangible assets and below market lease liabilities [Abstract]
Amortization of intangible assets	714	450
Acquisition-Related Intangible Assets (in Rental and Other Revenues) [Member]
Assets:
Deferred leasing costs, net/Total scheduled future amortization of intangible assets	16,755
Amortization of intangible assets and below market lease liabilities [Abstract]
Amortization of intangible assets	831	830
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	24,191
Amortization of intangible assets and below market lease liabilities [Abstract]
Amortization of acquisition-related below market lease liabilities	$ (1,254)	$ (1,367)

Intangible Assets and Below M_4

Intangible Assets and Below Market Lease Liabilities - Scheduled Future Amortization (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Scheduled future amortization of intangible assets [Abstract]
Deferred leasing costs, net/Total scheduled future amortization of intangible assets	$ 246,382	$ 252,828
Scheduled future amortization of below market lease liabilities [Abstract]
Total scheduled future amortization of acquisition-related below market lease liabilities	(24,191)	$ (25,445)
Deferred Leasing Costs and Acquisition-Related Intangible Assets (in Depreciation and Amortization) [Member]
Scheduled future amortization of intangible assets [Abstract]
April1 through December 31, 2023	32,014
2024	37,543
2025	30,506
2026	26,179
2027	22,386
Thereafter	69,088
Deferred leasing costs, net/Total scheduled future amortization of intangible assets	$ 217,716
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]
Finite-lived intangible assets, average useful life (in years)	7 years 8 months 12 days
Lease Incentives (in Rental and Other Revenues) [Member]
Scheduled future amortization of intangible assets [Abstract]
April1 through December 31, 2023	$ 1,687
2024	1,825
2025	1,733
2026	1,527
2027	1,325
Thereafter	3,814
Deferred leasing costs, net/Total scheduled future amortization of intangible assets	$ 11,911
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 6 months
Acquisition-Related Intangible Assets (in Rental and Other Revenues) [Member]
Scheduled future amortization of intangible assets [Abstract]
April1 through December 31, 2023	$ 2,471
2024	3,088
2025	2,220
2026	1,860
2027	1,518
Thereafter	5,598
Deferred leasing costs, net/Total scheduled future amortization of intangible assets	$ 16,755
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 4 months 24 days
Acquisition-Related Below Market Lease Liabilities (in Rental and Other Revenues) [Member]
Scheduled future amortization of below market lease liabilities [Abstract]
April 1 through December 31, 2023	$ (3,634)
2024	(4,219)
2025	(2,729)
2026	(2,514)
2027	(2,112)
Thereafter	(8,983)
Total scheduled future amortization of acquisition-related below market lease liabilities	$ (24,191)
Weighted average remaining amortization periods for intangible assets and below market lease liabilities [Abstract]
Finite-lived below market lease liabilities, average useful life (in years)	8 years 3 months 18 days

Mortgages and Notes Payable (De

Mortgages and Notes Payable (Details)	3 Months Ended
	Mar. 31, 2023 USD ($) extension	Apr. 21, 2023 USD ($)	Apr. 18, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Mortgages and notes payable	$ 3,263,969,000			$ 3,197,215,000
Unamortized debt issuance costs	$ (16,899,000)			(16,393,000)
Maximum liquidity requirements	1 year
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Additional borrowing capacity on revolving credit facility	$ 200,000,000
Number of additional extensions | extension	2
Term of optional extension	6 months
Temporary reduction in interest rate due to sustainability goals (in hundredths)	0.01%
Amount outstanding on revolving credit facility	$ 255,000,000
Outstanding letters of credit on revolving credit facility	900,000
Unused borrowing capacity on revolving credit facility	494,100,000
5.69% Mortgage Loan Due 2028 [Member]
Debt Instrument [Line Items]
Principal amount of debt	$ 200,000,000
Term of debt instrument	5 years
Effective interest rate (in hundredths)	5.69%
Debt issuance costs	$ 1,300,000
Secured indebtedness [Member]
Debt Instrument [Line Items]
Mortgages and notes payable	681,956,000			483,988,000
Aggregate undepreciated book value of secured real estate assets	1,157,200,000
Unsecured indebtedness [Member]
Debt Instrument [Line Items]
Mortgages and notes payable	$ 2,598,912,000			$ 2,729,620,000
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]
Maximum borrowing capacity on credit facility		$ 750,000,000
Amount outstanding on revolving credit facility			$ 257,000,000
Outstanding letters of credit on revolving credit facility			900,000
Unused borrowing capacity on revolving credit facility			$ 492,100,000

Noncontrolling Interests (Detai

Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Noncontrolling Interests in the Operating Partnership [Roll Forward]
Beginning noncontrolling interests in the Operating Partnership	$ 65,977
Adjustment of noncontrolling interests in the Operating Partnership to fair value	(11,102)	$ 3,168
Net income attributable to noncontrolling interests in the Operating Partnership	986	965
Distributions to noncontrolling interests in the Operating Partnership	(1,179)	(1,252)
Total noncontrolling interests in the Operating Partnership	54,682
Highwoods Properties, Inc. [Member]
Noncontrolling Interests in the Operating Partnership [Roll Forward]
Beginning noncontrolling interests in the Operating Partnership	65,977	111,689
Adjustment of noncontrolling interests in the Operating Partnership to fair value	(11,102)	3,168
Net income attributable to noncontrolling interests in the Operating Partnership	986	965
Distributions to noncontrolling interests in the Operating Partnership	(1,179)	(1,252)
Total noncontrolling interests in the Operating Partnership	$ 54,682	$ 114,570
Midtown West Joint Venture [Member]
Noncontrolling Interests in Consolidated Affiliates [Abstract]
Consolidated joint venture, partner's interest (in hundredths)	20%

Disclosure About Fair Value o_3

Disclosure About Fair Value of Financial Instruments - Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets:
Mortgages and notes receivable, at fair value	$ 998	$ 1,051
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)	2,085	2,564
Total Assets	3,083	3,615
Liabilities:
Mortgages and notes payable, net, at fair value	2,876,619	2,832,973
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)	2,085	2,564
Total Liabilities	2,878,704	2,835,537
Level 1 [Member]
Assets:
Mortgages and notes receivable, at fair value	0	0
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)	2,085	2,564
Total Assets	2,085	2,564
Liabilities:
Mortgages and notes payable, net, at fair value	0	0
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)	2,085	2,564
Total Liabilities	2,085	2,564
Level 2 [Member]
Assets:
Mortgages and notes receivable, at fair value	998	1,051
Marketable securities of non-qualified deferred compensation plan (in prepaid expenses and other assets)	0	0
Total Assets	998	1,051
Liabilities:
Mortgages and notes payable, net, at fair value	2,876,619	2,832,973
Non-qualified deferred compensation obligation (in accounts payable, accrued expenses and other liabilities)	0	0
Total Liabilities	2,876,619	2,832,973
Highwoods Properties, Inc. [Member]
Assets:
Noncontrolling Interests in the Operating Partnership	54,682	65,977
Highwoods Properties, Inc. [Member] | Level 1 [Member]
Assets:
Noncontrolling Interests in the Operating Partnership	54,682	65,977
Highwoods Properties, Inc. [Member] | Level 2 [Member]
Assets:
Noncontrolling Interests in the Operating Partnership	$ 0	$ 0

Fair Value Measures and Disclos

Fair Value Measures and Disclosures - Fair Value Measurement Inputs and Valuation Techniques (Details) - USD ($) $ in Millions	Mar. 31, 2023	Jan. 01, 2023
Valuation Technique and Input [Abstract]
Fair value of Level 3 investment		$ 57.1
Measurement Input, Discount Rate [Member]
Valuation Technique and Input [Abstract]
Investment key assumptions (in hundredths)	10.80%
Measurement Input, Cap Rate [Member]
Valuation Technique and Input [Abstract]
Investment key assumptions (in hundredths)	8.80%

Share-Based Payments (Details)

Share-Based Payments (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 4,525	$ 5,291
Total unrecognized share-based compensation costs	$ 6,400
Weighted average remaining contractual term for recognition of unrecognized share-based compensation costs (in years)	2 years 6 months
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)	150,249
Weighted average grant date fair value of each restricted stock share granted (in dollars per share)	$ 26.50
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)	122,484
Weighted average grant date fair value of each restricted stock share granted (in dollars per share)	$ 27.13

Earnings Per Share and Per Un_3

Earnings Per Share and Per Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings per Common Share and Per Unit - basic: [Abstract]
Net income	$ 44,954	$ 42,103
Net (income) attributable to noncontrolling interests in the Operating Partnership	(986)	(965)
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	487	(257)
Dividends on Preferred Stock	(621)	(621)
Net income available for common stockholders	$ 43,834	$ 40,260
Denominator:
Denominator for basic earnings per Common Share - weighted average shares (in shares)	105,288	104,933
Earnings per Common Share - basic:
Net income available for common stockholders (in dollars per share)	$ 0.42	$ 0.38
Earnings per Common Share and Per Unit - diluted: [Abstract]
Net income	$ 44,954	$ 42,103
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	487	(257)
Dividends on Preferred Stock	(621)	(621)
Net income available for common stockholders before net (income) attributable to noncontrolling interests in the Operating Partnership	$ 44,820	$ 41,225
Denominator:
Denominator for basic earnings per Common Share - weighted average shares (in shares)	105,288	104,933
Stock options using the treasury method (in shares)	0	15
Noncontrolling interests Common Units (in shares)	2,358	2,505
Denominator for diluted earnings per Common Share - adjusted weighted average shares and assumed conversions (in shares)	107,646	107,453
Earnings per Common Share - diluted:
Net income available for common stockholders (in dollars per share)	$ 0.42	$ 0.38
Highwoods Realty Limited Partnership
Earnings per Common Share and Per Unit - basic: [Abstract]
Net income	$ 44,954	$ 42,103
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	487	(257)
Distributions on Preferred Units	(621)	(621)
Net income available for common unitholders	$ 44,820	$ 41,225
Denominator:
Denominator for basic earnings per Common Unit - weighted average units (in shares)	107,237	107,029
Earnings per Common Unit - basic:
Net income available for common unitholders (in dollars per share)	$ 0.42	$ 0.39
Earnings per Common Share and Per Unit - diluted: [Abstract]
Net income	$ 44,954	$ 42,103
Net (income)/loss attributable to noncontrolling interests in consolidated affiliates	487	(257)
Distributions on Preferred Units	(621)	(621)
Net income available for common unitholders	$ 44,820	$ 41,225
Denominator:
Denominator for basic earnings per Common Unit - weighted average units (in shares)	107,237	107,029
Stock options using the treasury method (in shares)	0	15
Denominator for diluted earnings per Common Unit - adjusted weighted average units and assumed conversions (in shares)	107,237	107,044
Earnings per Common Unit - diluted:
Net income available for common unitholders (in dollars per share)	$ 0.42	$ 0.39

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Total Rental and Other Revenues	$ 212,752	$ 206,378
Total Net Operating Income	147,021	144,956
Reconciliation to net income:
Depreciation and amortization	(70,633)	(69,667)
General and administrative expenses	(12,415)	(13,556)
Interest expense	(33,098)	(24,393)
Other income	1,147	363
Gains on disposition of property	450	4,100
Gain on deconsolidation of affiliate	11,778	0
Equity in earnings of unconsolidated affiliates	704	300
Net income	44,954	42,103
Total Office Segment [Member]
Segment Reporting Information [Line Items]
Total Rental and Other Revenues	197,986	190,109
Total Net Operating Income	138,712	135,276
Office Atlanta, GA [Member]
Segment Reporting Information [Line Items]
Total Rental and Other Revenues	36,870	35,554
Total Net Operating Income	24,225	23,681
Office Charlotte, NC [Member]
Segment Reporting Information [Line Items]
Total Rental and Other Revenues	21,580	16,944
Total Net Operating Income	16,110	13,050
Office Nashville, TN [Member]
Segment Reporting Information [Line Items]
Total Rental and Other Revenues	44,564	43,447
Total Net Operating Income	33,025	32,522
Office Orlando, FL [Member]
Segment Reporting Information [Line Items]
Total Rental and Other Revenues	14,394	13,312
Total Net Operating Income	8,772	8,137
Office Raleigh, NC [Member]
Segment Reporting Information [Line Items]
Total Rental and Other Revenues	45,878	46,296
Total Net Operating Income	33,606	34,715
Office Richmond, VA [Member]
Segment Reporting Information [Line Items]
Total Rental and Other Revenues	9,309	10,533
Total Net Operating Income	6,570	7,225
Office Tampa, FL [Member]
Segment Reporting Information [Line Items]
Total Rental and Other Revenues	25,391	24,023
Total Net Operating Income	16,404	15,946
Other [Member]
Segment Reporting Information [Line Items]
Total Rental and Other Revenues	14,766	16,269
Total Net Operating Income	$ 8,309	$ 9,680

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)			3 Months Ended
	Apr. 21, 2023	Apr. 19, 2023	Mar. 31, 2023	Mar. 31, 2022
Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Subsequent Event [Line Items]
Interest rate, basis spread (in hundredths)			0.85%
Highwoods Properties, Inc. [Member]
Subsequent Event [Line Items]
Dividends declared per share of Common Stock (in dollars per share)			$ 0.50	$ 0.50
Subsequent Event [Member]
Subsequent Event [Line Items]
Net proceeds from redemption of short-term Preferred Equity	$ 40,000,000
Subsequent Event [Member] | Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Maximum borrowing capacity on credit facility	750,000,000
Subsequent Event [Member] | M+O JV, LLC
Subsequent Event [Line Items]
Short-term Preferred Equity contributed to joint venture	$ 80,000,000
Interest rate, basis spread (in hundredths)	3.50%
Subsequent Event [Member] | M+O JV, LLC | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Subsequent Event [Line Items]
Variable interest rate basis	SOFR
Subsequent Event [Member] | Highwoods Properties, Inc. [Member]
Subsequent Event [Line Items]
Dividends declared per share of Common Stock (in dollars per share)		$ 0.50