-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, U2LZ3d5SgITEfE0+LrgsjWXZNmd/D1wRuDp8DlegYlxz9QxLJbXxWFisHurhttGB IfSna04mVvmMXZ7xHnZmHg== 0000902664-04-001805.txt : 20041203 0000902664-04-001805.hdr.sgml : 20041203 20041203165043 ACCESSION NUMBER: 0000902664-04-001805 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20041203 DATE AS OF CHANGE: 20041203 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PARKWAY PROPERTIES INC CENTRAL INDEX KEY: 0000729237 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 742123597 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-30710 FILM NUMBER: 041184344 BUSINESS ADDRESS: STREET 1: ONE JACKSON PL STREET 2: 188 E CAPITOL ST STE 1000 CITY: JACKSON STATE: MS ZIP: 39225-4647 BUSINESS PHONE: 6019484091 MAIL ADDRESS: STREET 1: ONE JACKSON PL P O BOX 24647 STREET 2: 188 E CAPITOL ST STE 1000 CITY: JACKSON STATE: MS ZIP: 39225 FORMER COMPANY: FORMER CONFORMED NAME: PARKWAY CO DATE OF NAME CHANGE: 19951018 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FIVE ARROWS REALTY SECURITIES III LLC CENTRAL INDEX KEY: 0001238165 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A MAIL ADDRESS: STREET 1: 1251 AVE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10020 SC 13D/A 1 srz04-0837.txt PARKWAY PROPERTIES, INC. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------- SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a) (Amendment No. 5)* PARKWAY PROPERTIES, INC. (Name of Issuer) Common Stock (Title of Class of Securities) 70159Q104 (CUSIP Number) Mr. James E. Quigley 3rd Rothschild Realty Inc. 1251 Avenue of the Americas New York, N.Y. 10020 Telephone (212) 403-3500 (Name, address and telephone number of person authorized to receive notices and communications) November 30, 2004 (Date of event which requires filing of this statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [ ]. NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. SEE Rule 13d-7 for other parties to whom copies are to be sent. (Continued on following pages) (Page 1 of 13 Pages) - -------------- *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 70159Q104 Schedule 13D Page 2 of 13 Pages - ------------------------------------------------------------------------------ (1) NAME OF REPORTING PERSON: Five Arrows Realty Securities III L.L.C. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: - ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) /x/ (b) / / - ------------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------------ (4) SOURCE OF FUNDS**: WC - ------------------------------------------------------------------------------ (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): / / - ------------------------------------------------------------------------------ (6) CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ------------------------------------------------------------------------------ NUMBER OF (7) SOLE VOTING POWER: -0- SHARES _______________________________________________________________ BENEFICIALLY (8) SHARED VOTING POWER: 1,473,199 (See Item 5) OWNED BY _______________________________________________________________ EACH (9) SOLE DISPOSITIVE POWER: -0- REPORTING _______________________________________________________________ PERSON WITH (10) SHARED DISPOSITIVE POWER: 1,473,199 (See Item 5) - ------------------------------------------------------------------------------ (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 1,473,199 (See Item 5) - ------------------------------------------------------------------------------ (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ** / / - ------------------------------------------------------------------------------ (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 11.50% (See Item 5) - ------------------------------------------------------------------------------ (14) TYPE OF REPORTING PERSON **: OO - ------------------------------------------------------------------------------ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 70159Q104 Schedule 13D Page 3 of 13 Pages - ------------------------------------------------------------------------------ (1) NAME OF REPORTING PERSON: Rothschild Realty Investors III L.L.C. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: - ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) /x/ (b) / / - ------------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------------ (4) SOURCE OF FUNDS**: WC - ------------------------------------------------------------------------------ (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): / / - ------------------------------------------------------------------------------ (6) CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ------------------------------------------------------------------------------ NUMBER OF (7) SOLE VOTING POWER: -0- SHARES _______________________________________________________________ BENEFICIALLY (8) SHARED VOTING POWER: 1,473,199 (See Item 5) OWNED BY _______________________________________________________________ EACH (9) SOLE DISPOSITIVE POWER: -0- REPORTING _______________________________________________________________ PERSON WITH (10) SHARED DISPOSITIVE POWER: 1,473,199 (See Item 5) - ------------------------------------------------------------------------------ (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 1,473,199 (See Item 5) - ------------------------------------------------------------------------------ (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ** / / - ------------------------------------------------------------------------------ (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 11.50% (See Item 5) - ------------------------------------------------------------------------------ (14) TYPE OF REPORTING PERSON **: OO - ------------------------------------------------------------------------------ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 70159Q104 Schedule 13D Page 4 of 13 Pages - ------------------------------------------------------------------------------ (1) NAME OF REPORTING PERSON: Matthew W. Kaplan S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: - ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) /x/ (b) / / - ------------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------------ (4) SOURCE OF FUNDS**: WC - ------------------------------------------------------------------------------ (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): / / - ------------------------------------------------------------------------------ (6) CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America - ------------------------------------------------------------------------------ NUMBER OF (7) SOLE VOTING POWER: 18,134 (See Item 5) SHARES _______________________________________________________________ BENEFICIALLY (8) SHARED VOTING POWER: 1,473,199 (See Item 5) OWNED BY _______________________________________________________________ EACH (9) SOLE DISPOSITIVE POWER: 18,134 (See Item 5) REPORTING _______________________________________________________________ PERSON WITH (10) SHARED DISPOSITIVE POWER: 1,473,199 (See Item 5) - ------------------------------------------------------------------------------ (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 1,491,333 (See Item 5) - ------------------------------------------------------------------------------ (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ** / / - ------------------------------------------------------------------------------ (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 11.63% (See Item 5) - ------------------------------------------------------------------------------ (14) TYPE OF REPORTING PERSON **: IN - ------------------------------------------------------------------------------ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 70159Q104 Schedule 13D Page 5 of 13 Pages - ------------------------------------------------------------------------------ (1) NAME OF REPORTING PERSON: D. Pike Aloian S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: - ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) /x/ (b) / / - ------------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------------ (4) SOURCE OF FUNDS**: WC - ------------------------------------------------------------------------------ (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): / / - ------------------------------------------------------------------------------ (6) CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America - ------------------------------------------------------------------------------ NUMBER OF (7) SOLE VOTING POWER: -0- SHARES _______________________________________________________________ BENEFICIALLY (8) SHARED VOTING POWER: 1,473,199 (See Item 5) OWNED BY _______________________________________________________________ EACH (9) SOLE DISPOSITIVE POWER: -0- REPORTING _______________________________________________________________ PERSON WITH (10) SHARED DISPOSITIVE POWER: 1,473,199 (See Item 5) - ------------------------------------------------------------------------------ (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 1,473,199 (See Item 5) - ------------------------------------------------------------------------------ (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ** / / - ------------------------------------------------------------------------------ (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 11.50% (See Item 5) - ------------------------------------------------------------------------------ (14) TYPE OF REPORTING PERSON **: IN - ------------------------------------------------------------------------------ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 70159Q104 Schedule 13D Page 6 of 13 Pages - ------------------------------------------------------------------------------ (1) NAME OF REPORTING PERSON: James E. Quigley 3rd S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: - ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) /x/ (b) / / - ------------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------------ (4) SOURCE OF FUNDS**: WC - ------------------------------------------------------------------------------ (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): / / - ------------------------------------------------------------------------------ (6) CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America - ------------------------------------------------------------------------------ NUMBER OF (7) SOLE VOTING POWER: -0- SHARES _______________________________________________________________ BENEFICIALLY (8) SHARED VOTING POWER: 1,473,199 (See Item 5) OWNED BY _______________________________________________________________ EACH (9) SOLE DISPOSITIVE POWER: -0- REPORTING _______________________________________________________________ PERSON WITH (10) SHARED DISPOSITIVE POWER: 1,473,199 (See Item 5) - ------------------------------------------------------------------------------ (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 1,473,199 (See Item 5) - ------------------------------------------------------------------------------ (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ** / / - ------------------------------------------------------------------------------ (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 11.50% (See Item 5) - ------------------------------------------------------------------------------ (14) TYPE OF REPORTING PERSON **: IN - ------------------------------------------------------------------------------ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 70159Q104 Schedule 13D Page 7 of 13 Pages - ------------------------------------------------------------------------------ (1) NAME OF REPORTING PERSON: Paul H. Jenssen S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: - ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) /x/ (b) / / - ------------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------------ (4) SOURCE OF FUNDS**: WC - ------------------------------------------------------------------------------ (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): / / - ------------------------------------------------------------------------------ (6) CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America - ------------------------------------------------------------------------------ NUMBER OF (7) SOLE VOTING POWER: -0- SHARES _______________________________________________________________ BENEFICIALLY (8) SHARED VOTING POWER: 1,473,199 (See Item 5) OWNED BY _______________________________________________________________ EACH (9) SOLE DISPOSITIVE POWER: -0- REPORTING _______________________________________________________________ PERSON WITH (10) SHARED DISPOSITIVE POWER: 1,473,199 (See Item 5) - ------------------------------------------------------------------------------ (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 1,473,199 (See Item 5) - ------------------------------------------------------------------------------ (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ** / / - ------------------------------------------------------------------------------ (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 11.50% (See Item 5) - ------------------------------------------------------------------------------ (14) TYPE OF REPORTING PERSON **: IN - ------------------------------------------------------------------------------ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 70159Q104 Schedule 13D Page 8 of 13 Pages - ------------------------------------------------------------------------------ (1) NAME OF REPORTING PERSON: John D. McGurk S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: - ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP ** (a) /x/ (b) / / - ------------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------------ (4) SOURCE OF FUNDS**: WC - ------------------------------------------------------------------------------ (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e): / / - ------------------------------------------------------------------------------ (6) CITIZENSHIP OR PLACE OF ORGANIZATION: United States of America - ------------------------------------------------------------------------------ NUMBER OF (7) SOLE VOTING POWER: -0- SHARES _______________________________________________________________ BENEFICIALLY (8) SHARED VOTING POWER: 1,473,199 (See Item 5) OWNED BY _______________________________________________________________ EACH (9) SOLE DISPOSITIVE POWER: -0- REPORTING _______________________________________________________________ PERSON WITH (10) SHARED DISPOSITIVE POWER: 1,473,199 (See Item 5) - ------------------------------------------------------------------------------ (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 1,473,199 (See Item 5) - ------------------------------------------------------------------------------ (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ** / / - ------------------------------------------------------------------------------ (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 11.50% (See Item 5) - ------------------------------------------------------------------------------ (14) TYPE OF REPORTING PERSON **: IN - ------------------------------------------------------------------------------ ** SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 70159Q104 Schedule 13D Page 9 of 13 Pages This Amendment No. 5 (this "Amendment") amends the statement on Schedule 13D filed by Five Arrows Realty Securities III L.L.C., a Delaware limited liability company ("Five Arrows"), and Rothschild Realty Investors III L.L.C., ("Rothschild"), a Delaware limited liability company and the sole managing member of Five Arrows, on June 29, 2001, and as amended by Amendment No. 1 on July 3, 2001, Amendment No. 2 on November 20, 2003 (pursuant to which Matthew W. Kaplan, D. Pike Aloian, James E. Quigley 3rd, Paul H. Jenssen, and John D. McGurk, managers of Rothschild, were added as reporting persons), Amendment No. 3 on March 26, 2004 and Amendment No. 4 on November 15, 2004(as amended, the "Schedule 13D"), with respect to the Common Stock, par value $.001 per share, of Parkway Properties, Inc., a Maryland real estate investment trust (the "Issuer"), whose principal executive offices are located at One Jackson Place, Suite 1000, 188 East Capitol Street, Jackson, Mississippi 39225-4647. Except as specifically provided herein, this Amendment does not modify any of the information previously reported on the Schedule 13D. For purposes of this Schedule 13D, Five Arrows, Rothschild and Messrs. Kaplan, Aloian, Quigley, Jenssen and McGurk are collectively referred to herein as the "Reporting Persons." Item 5. Interest in Securities of the Issuer Item 5 is amended and restated in its entirety as set forth below. (a) As of the close of the business day on December 2, 2004, (i) Five Arrows Realty Securities III L.L.C. ("Five Arrows") may be deemed to beneficially own 1,473,199 shares of Common Stock, par value $.001, of the Issuer (the "Common Stock"), (x) consisting of (a) 1,303,499 shares of Common Stock (which amount is subject to adjustment from time to time) issuable upon the exercise of 1,303,499 shares of Series B Cumulative Convertible Preferred Stock of the Issuer held by Five Arrows, (b) 75,000 shares of Common Stock purchasable at any time or from time to time upon the exercise of a seven-year warrant held by Five Arrows, and (c) 94,700 shares of Common Stock held by Five Arrows and (y) representing approximately 11.50% of the outstanding shares of Common Stock (based upon 11,433,779 shares of Common Stock stated to be outstanding as of November 1, 2004, as reported by the Issuer in its report on Form 10-Q for its quarter ended September 30, 2004, filed with the Securities and Exchange Commission on November 2, 2004 (the "Outstanding Share Information"), and assuming the conversion or exercise of the convertible securities and warrants referred to in clause (x) above); (ii) Rothschild Realty Investors III L.L.C., ("Rothschild"), which is the sole managing member of Five Arrows, may be deemed to beneficially own 1,473,199 shares of Common Stock, (x) consisting of the shares of Common Stock referred to in clause (i)(x) above, and (y) representing approximately 11.50% of the outstanding shares of Common Stock (based upon the Outstanding Share Information and assuming the conversion or exercise of the convertible securities and warrants referred to in clause (i)(x) above); (iii) each of D. Pike Aloian, James E. Quigley 3rd, Paul H. Jenssen, and John D. McGurk, who are managers of Rothschild, may be deemed to beneficially own 1,473,199 shares of Common Stock, (x) consisting of the shares of Common Stock referred to in clause (i)(x) above, and (y) representing approximately 11.50% of the outstanding shares of Common Stock (based upon the Outstanding Share Information and assuming the conversion or exercise of the convertible securities and warrants referred to in clause (i)(x) above); and (iv) Matthew W. Kaplan, who is a manager of Rothschild and a director of the Issuer, may be deemed to beneficially own 1,491,333 shares of Common Stock, (x) consisting of (1) the shares of Common Stock referred to in clause (i)(x) above, (2) 1,334 shares of Common Stock held by him, (3) 16,300 shares of Common Stock issuable upon the exercise of options granted to him by the Issuer, and (4) 500 shares of Common Stock granted to him by the Issuer as an annual retainer share award pursuant to the Issuer's 2001 Non-Employee Directors Equity Compensation Plan, and (y) representing approximately 11.63% of the outstanding shares of Common Stock (based upon the Outstanding Share Information and assuming the conversion or exercise of the convertible securities, warrants, and options referred to or described in clause (x) above). CUSIP No. 70159Q104 Schedule 13D Page 10 of 13 Pages (b) Five Arrows, Rothschild, Matthew W. Kaplan, D. Pike Aloian, James E. Quigley 3rd, Paul H. Jenssen, and John D. McGurk may be deemed to have shared power to vote, and shared power to direct the disposition of, 1,473,199 shares of Common Stock. In addition, Matthew W. Kaplan may be deemed to have the sole power to vote, and the sole power to direct the disposition of, an additional 18,134 shares of Common Stock. (c) The following table sets forth all transactions with respect to shares of Common Stock effected by the Reporting Persons since the most recent filing of a statement on Schedule 13D, or amendment thereto, by the Reporting Persons, with respect to shares of Common Stock. The table excludes commissions paid. All of the percentages set forth below are based on the Outstanding Share Information and assume the conversion or exercise of the convertible securities and warrants held by the selling person reported in Item 5(a) above. On November 15, 2004, Five Arrows, in open market sales, sold 58,700 shares of Common Stock (representing <.5% of the shares of Common Stock outstanding) at an average per share price of $50.9714 for a total of $2,992,021.18. On November 16, 2004, Five Arrows, in open market sales, sold 5,600 shares of Common Stock (representing <.1% of the shares of Common Stock outstanding) at an average per share price of $50.9829 for a total of $285,504.24. On November 17, 2004, Five Arrows, in open market sales, sold 2,258 shares of Common Stock (representing <.1% of the shares of Common Stock outstanding) at an average per share price of $50.7494 for a total of $114,592.15. On November 18, 2004, Five Arrows, in open market sales, sold 1,600 shares of Common Stock (representing <.1% of the shares of Common Stock outstanding) at an average per share price of $49.9606 for a total of $79,936.96. On November 24, 2004, Five Arrows, in open market sales, sold 22,400 shares of Common Stock (representing <.2% of the shares of Common Stock outstanding) at an average per share price of $50.1426 for a total of $1,123,194.24. On November 26, 2004, Five Arrows, in open market sales, sold 5,600 shares of Common Stock (representing <.1% of the shares of Common Stock outstanding) at an average per share price of $50.2666 for a total of $281,492.96. On November 29, 2004, Five Arrows, in open market sales, sold 10,400 shares of Common Stock (representing <.1% of the shares of Common Stock outstanding) at an average per share price of $50.0689 for a total of $520,716.56. On November 30, 2004, Five Arrows, in open market sales, sold 40,000 shares of Common Stock (representing >.3% of the shares of Common Stock outstanding) at an average per share price of $50.2291 for a total of $2,009,164.00. On December 1, 2004, Five Arrows, in open market sales, sold 56,200 shares of Common Stock (representing >.4% of the shares of Common Stock outstanding) at an average per share price of $50.6048 for a total of $2,843,989.76. On December 2, 2004, Five Arrows, in open market sales, sold 93,100 shares of Common Stock (representing >.7% of the shares of Common Stock outstanding) at an average per share price of $50.2628 for a total of $4,679,466.68. CUSIP No. 70159Q104 Schedule 13D Page 11 of 13 Pages ITEM 7. Material To Be Filed As Exhibits Exhibit Number Description (1) Joint Filing Agreement dated December 3, 2004. CUSIP No. 70159Q104 Schedule 13D Page 12 of 13 Pages SIGNATURE After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: December 3, 2004 FIVE ARROWS REALTY SECURITIES III L.L.C. By: /s/ JAMES E. QUIGLEY 3RD ------------------------ James E. Quigley 3rd Manager ROTHSCHILD REALTY INVESTORS III L.L.C. By: /s/ JOHN D. MCGURK ------------------ John D. McGurk Manager /s/ MATTHEW W. KAPLAN --------------------- MATTHEW W. KAPLAN /s/ D. PIKE ALOIAN ------------------ D. PIKE ALOIAN /s/ JAMES E. QUIGLEY 3RD ------------------------ JAMES E. QUIGLEY 3RD /s/ PAUL H. JENSSEN ------------------- PAUL H. JENSSEN /s/ JOHN D. MCGURK ------------------ JOHN D. MCGURK CUSIP No. 70159Q104 Schedule 13D Page 13 of 13 Pages EXHIBIT (1) JOINT FILING AGREEMENT PURSUANT TO RULE 13D-1(k)(1) The undersigned acknowledge and agree that (i) the foregoing Amendment No. 5 to the statement on Schedule 13D, as heretofore amended, with respect to Parkway Properties, Inc., as previously filed by all of the undersigned, is filed on behalf of all of the undersigned, (ii) all subsequent amendments to such statement, as amended from time to time, shall be filed on behalf of all of the undersigned without the necessity of any of the undersigned making individual filings, (iii) each of the undersigned shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning such person or entity contained therein (provided, that none of the undersigned shall be responsible for the completeness or accuracy of the information concerning any of the other persons or entities making the filing, unless such person or entity knows or has reason to believe that such information is inaccurate), and (iv) this joint filing agreement shall be included as an exhibit to the foregoing Amendment No. 5. Dated: December 3, 2004 FIVE ARROWS REALTY SECURITIES III L.L.C. By: /s/ JAMES E. QUIGLEY 3RD ------------------------ James E. Quigley 3rd Manager ROTHSCHILD REALTY INVESTORS III L.L.C. By: /s/ JOHN D. MCGURK ------------------ John D. McGurk Manager /s/ MATTHEW W. KAPLAN --------------------- MATTHEW W. KAPLAN /s/ D. PIKE ALOIAN ------------------ D. PIKE ALOIAN /s/ JAMES E. QUIGLEY 3RD ------------------------ JAMES E. QUIGLEY 3RD /s/ PAUL H. JENSSEN ------------------- PAUL H. JENSSEN /s/ JOHN D. MCGURK ------------------ JOHN D. MCGURK -----END PRIVACY-ENHANCED MESSAGE-----