Thomas Properties Group
{{Short description|Defunct real estate investment firm}}
{{Infobox company
| name = Thomas Properties Group
| logo = Thomas Properties Group Logo.jpg
| logo_size = 180px
| logo_caption =
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| industry = Real estate investment trust
| fate = Acquired by Parkway Properties
| predecessor =
| successor = Parkway Properties, Inc.
| founded = {{Start date and age|1996}}
| founder = James A. Thomas
| defunct = {{End date and age|2013|12|20}}
| location_city = Los Angeles, California
| location_country = United States
| locations =
| area_served = California, Pennsylvania, Virginia, and Texas
| key_people = James A. Thomas (founder, chairman, president, & CEO)
| products =
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}}
Thomas Properties Group was a real estate investment trust based in City National Plaza in Los Angeles, California.
On December 20, 2013, Thomas Properties was acquired by Parkway Properties.
History
Thomas Properties Group was founded in 1996 by James A. Thomas, and incorporated on March 9, 2004.{{cn|date=June 2024}}
On March 9, 2004, it became a public company via an initial public offering.{{cite web |title=Thomas Properties Group Inc (TPGI) IPO |url=http://www.nasdaq.com/markets/ipos/company/thomas-properties-group-inc-631491-38972 |publisher=NASDAQ}}
In August 2005, the company entered the Houston, Texas market with the acquisition of 2.5 million square feet of office space from EQ Office in a joint venture with CalSTRS.{{cite press release |url=https://www.businesswire.com/news/home/20050804005958/en/Thomas-Properties-Group-Enters-Houston-Market-Acquisition |title=Thomas Properties Group Enters Houston Market with Acquisition of 2.5 Million Square Feet of Suburban Office Properties from Equity Office; Acquisitions Add to Company's Texas Presence |publisher=Business Wire | date=August 4, 2005}} The joint venture was liquidated in October 2013.{{cite press release | url=https://www.businesswire.com/news/home/20131001006750/en/Thomas-Properties-Group-Announces-Closing-Liquidation-TPGCalSTRS | title=Thomas Properties Group Announces Closing of the Liquidation of TPG/CalSTRS Joint Venture | publisher=Business Wire | date=October 1, 2013}}
On July 1, 2007, Lehman Brothers and CalSTRS partnered with Thomas Properties to buy several properties in Austin, Texas that The Blackstone Group had acquired as part of its acquisition of EQ Office.
In 2012, the company, in partnership with CalSTRs, acquired Lehman Brothers's interest in the joint venture.{{cite press release | url=https://www.businesswire.com/news/home/20120919005534/en/Thomas-Properties-Group-Announces-Acquisition-Austin-Office | title=Thomas Properties Group Announces Acquisition of Austin Office Portfolio | publisher=Business Wire | date=September 19, 2012}}{{cite news | url=https://www.bizjournals.com/austin/news/2012/09/19/8-downtown-austin-office-buildings.html | title=Lehman's Austin portfolio acquired for $859M | first=Sarah | last=Drake | work=American City Business Journals | date=September 19, 2012}}
On December 20, 2013, Thomas Properties Group was acquired by Parkway Properties for $1.2 billion.{{cite press release | url=https://www.prnewswire.com/news-releases/parkway-properties-inc-and-thomas-properties-group-inc-complete-merger-valued-at-12-billion-236710671.html | title=Parkway Properties, Inc. And Thomas Properties Group, Inc. Complete Merger Valued At $1.2 Billion | publisher=PR Newswire | date=December 20, 2013}}
Awards
In 2008, the company received the California Sustainability Alliance's Sustainability Showcase Award.[http://sustainca.org/showcase California Sustainability Alliance, Sustainability Showcase Awards], Retrieved July 24th, 2010 Thomas Properties Group was recognized for leadership in greening real estate and in integrating sustainable design and operations into all aspects of its products, services and investments.[http://sustainca.org/showcase/thomasprop California Sustainability Alliance, Thomas Properties Group], Retrieved July 24th, 2010
References
{{reflist}}
External links
- [https://miashome.co/portfolio?page=1 Home Staging]
Category:1996 establishments in California
Category:Financial services companies established in 1996
Category:Defunct real estate companies of the United States
Category:Financial services companies disestablished in 2013