XML 52 R67.htm IDEA: XBRL DOCUMENT v2.4.1.9
Capital and Financing Transactions - Schedule of Credit Facilities Outstanding (Details) (USD $)
12 Months Ended 0 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Jun. 12, 2013
Oct. 01, 2012
Feb. 10, 2012
Line of Credit Facility [Abstract]          
Outstanding Balance $ 481,500,000us-gaap_LineOfCredit $ 303,000,000us-gaap_LineOfCredit      
Working Capital Revolving Credit Facility          
Line of Credit Facility [Abstract]          
Interest rate 1.70%us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd
/ us-gaap_CreditFacilityAxis
= pky_WorkingCapitalRevolvingCreditFacilityMember
       
Maturity Mar. 30, 2018        
Outstanding Balance 0us-gaap_LineOfCredit
/ us-gaap_CreditFacilityAxis
= pky_WorkingCapitalRevolvingCreditFacilityMember
       
Unsecured Revolving Credit Facility          
Line of Credit Facility [Abstract]          
Interest rate 1.60%us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredRevolvingCreditFacilityMember
2.00%us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredRevolvingCreditFacilityMember
     
Maturity Mar. 30, 2018 Mar. 29, 2016      
Outstanding Balance 131,500,000us-gaap_LineOfCredit
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredRevolvingCreditFacilityMember
58,000,000us-gaap_LineOfCredit
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredRevolvingCreditFacilityMember
     
Five-year Term Loan          
Line of Credit Facility [Abstract]          
Interest rate 2.50%us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd
/ us-gaap_CreditFacilityAxis
= pky_FiveyearTermLoanMember
       
Maturity Mar. 29, 2019        
Outstanding Balance 250,000,000us-gaap_LineOfCredit
/ us-gaap_CreditFacilityAxis
= pky_FiveyearTermLoanMember
       
Seven-year Term Loan          
Line of Credit Facility [Abstract]          
Interest rate 4.30%us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd
/ us-gaap_CreditFacilityAxis
= pky_SevenyearTermLoanMember
       
Maturity Mar. 31, 2021        
Outstanding Balance 100,000,000us-gaap_LineOfCredit
/ us-gaap_CreditFacilityAxis
= pky_SevenyearTermLoanMember
       
Unsecured Working Capital Revolving Credit Facility          
Line of Credit Facility [Abstract]          
Interest rate   0.00%us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredWorkingCapitalRevolvingCreditFacilityMember
     
Maturity   Mar. 29, 2016      
Outstanding Balance   0us-gaap_LineOfCredit
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredWorkingCapitalRevolvingCreditFacilityMember
     
Unsecured Term Loan          
Line of Credit Facility [Abstract]          
Interest rate   2.50%us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredTermLoanMember
[1]      
Maturity   Sep. 27, 2017 [1]      
Outstanding Balance   125,000,000us-gaap_LineOfCredit
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredTermLoanMember
[1]      
Basis spread on variable rate (in percent)     1.45%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredTermLoanMember
   
Term Loan          
Line of Credit Facility [Abstract]          
Interest rate   3.30%us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd
/ us-gaap_CreditFacilityAxis
= pky_TermLoanMember
[2]      
Maturity   Jun. 11, 2018 [2]      
Outstanding Balance   120,000,000us-gaap_LineOfCredit
/ us-gaap_CreditFacilityAxis
= pky_TermLoanMember
[2]      
Interest Rate Swap          
Line of Credit Facility [Abstract]          
Number of interest rate derivatives held       2us-gaap_NumberOfInterestRateDerivativesHeld
/ us-gaap_DebtInstrumentAxis
= us-gaap_InterestRateSwapMember
 
Notional amount     120,000,000invest_DerivativeNotionalAmount
/ us-gaap_DebtInstrumentAxis
= us-gaap_InterestRateSwapMember
$ 125,000,000invest_DerivativeNotionalAmount
/ us-gaap_DebtInstrumentAxis
= us-gaap_InterestRateSwapMember
 
Derivative interest rate (in percent)     1.60%us-gaap_DerivativeFixedInterestRate
/ us-gaap_DebtInstrumentAxis
= us-gaap_InterestRateSwapMember
0.70%us-gaap_DerivativeFixedInterestRate
/ us-gaap_DebtInstrumentAxis
= us-gaap_InterestRateSwapMember
 
Derivative contract term     5 years 5 years  
Line of Credit | Unsecured Term Loan          
Line of Credit Facility [Abstract]          
Period end interest rate (in percent)       2.45%us-gaap_DebtInstrumentInterestRateEffectivePercentage
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredTermLoanMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_LineOfCreditMember
 
Line of Credit | Term Loan          
Line of Credit Facility [Abstract]          
Period end interest rate (in percent)     3.30%us-gaap_DebtInstrumentInterestRateEffectivePercentage
/ us-gaap_CreditFacilityAxis
= pky_TermLoanMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_LineOfCreditMember
   
Line of Credit | London Interbank Offered Rate (LIBOR) | Unsecured Term Loan          
Line of Credit Facility [Abstract]          
Interest rate during the period (in percent)       1.75%us-gaap_DebtInstrumentInterestRateDuringPeriod
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredTermLoanMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_LineOfCreditMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
 
Line of Credit | London Interbank Offered Rate (LIBOR) | Term Loan          
Line of Credit Facility [Abstract]          
Interest rate during the period (in percent)     1.70%us-gaap_DebtInstrumentInterestRateDuringPeriod
/ us-gaap_CreditFacilityAxis
= pky_TermLoanMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_LineOfCreditMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
   
Minimum          
Line of Credit Facility [Abstract]          
Basis spread on variable rate (in percent)         2.50%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_RangeAxis
= us-gaap_MinimumMember
Minimum | Unsecured Term Loan          
Line of Credit Facility [Abstract]          
Basis spread on variable rate (in percent)     1.45%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredTermLoanMember
/ us-gaap_RangeAxis
= us-gaap_MinimumMember
   
Minimum | Line of Credit | London Interbank Offered Rate (LIBOR) | Unsecured Term Loan          
Line of Credit Facility [Abstract]          
Basis spread on variable rate (in percent)       1.50%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredTermLoanMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_LineOfCreditMember
/ us-gaap_RangeAxis
= us-gaap_MinimumMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
 
Minimum | Line of Credit | London Interbank Offered Rate (LIBOR) | Term Loan          
Line of Credit Facility [Abstract]          
Basis spread on variable rate (in percent)     1.45%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_CreditFacilityAxis
= pky_TermLoanMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_LineOfCreditMember
/ us-gaap_RangeAxis
= us-gaap_MinimumMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
   
Maximum          
Line of Credit Facility [Abstract]          
Basis spread on variable rate (in percent)         3.50%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_RangeAxis
= us-gaap_MaximumMember
Maximum | Unsecured Term Loan          
Line of Credit Facility [Abstract]          
Basis spread on variable rate (in percent)     2.00%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredTermLoanMember
/ us-gaap_RangeAxis
= us-gaap_MaximumMember
   
Maximum | Line of Credit | London Interbank Offered Rate (LIBOR) | Unsecured Term Loan          
Line of Credit Facility [Abstract]          
Basis spread on variable rate (in percent)       2.25%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_CreditFacilityAxis
= pky_UnsecuredTermLoanMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_LineOfCreditMember
/ us-gaap_RangeAxis
= us-gaap_MaximumMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
 
Maximum | Line of Credit | London Interbank Offered Rate (LIBOR) | Term Loan          
Line of Credit Facility [Abstract]          
Basis spread on variable rate (in percent)     2.20%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_CreditFacilityAxis
= pky_TermLoanMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_LineOfCreditMember
/ us-gaap_RangeAxis
= us-gaap_MaximumMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
   
[1] Effective October 1, 2012, the Company executed two floating-to-fixed interest rate swaps associated with the Term Loan Facility totaling $125 million, locking LIBOR at 0.7% for five years. The loan bears interest at LIBOR plus the applicable spread which ranges between 150 to 225 basis points based on overall Company leverage. The current spread associated with the loan is 1.75% resulting in an all-in rate of 2.45%.
[2] Effective June 12, 2013, the Company entered into a new floating-to-fixed interest rate swap associated with a New Term Loan Facility totaling $120 million, locking LIBOR at 1.6% for five years. The loan bears interest at LIBOR plus the applicable spread which ranges between 145 to 220 basis points based on overall Company leverage. The current spread associated with the loan is 1.7% resulting in an all-in rate of 3.3%.