Investment in Unconsolidated Joint Ventures (Notes)

9 Months Ended

Sep. 30, 2013

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Joint Ventures

Investment in Unconsolidated Joint Ventures

In addition to the 42 office and parking properties included in the consolidated financial statements, the Company was also invested in two unconsolidated joint ventures with unrelated investors as of September 30, 2013. These investments are accounted for using the equity method of accounting. Accordingly, the assets and liabilities of the joint ventures are not included on the Company's consolidated balance sheet at September 30, 2013. Information relating to these unconsolidated joint ventures is summarized below (in thousands):

			Parkway's	Square	Percentage
Joint Venture Entity	Property Name	Location	Ownership%	Feet	Occupied
US Airways Building Tenancy in Common	US Airways Building	Phoenix, AZ	74.58%	225	100.0%
7000 Central Park JV LLC ("7000 Central Park")	7000 Central Park	Atlanta, GA	40.00%	415	75.2%
				640	83.9%

During the third quarter of 2013, the Company reclassified the assets and liabilities attributable to the US Airways Building to investments in unconsolidated joint ventures on the Company's consolidated balance sheets. The balance of the investment in the joint venture entity was $42.2 million as of September 30, 2013. See Note D - Acquisitions for a discussion of the Company's investment in the US Airways Building.

The Company accounts for its investment in 7000 Central Park under the equity method of accounting. The balance of the investment in the joint venture was $44.9 million as of September 30, 2013. See Note D - Acquisitions for a discussion of the Company's investment in 7000 Central Park.