Highwoods Properties Inc (NYSE:HIW) Q2 2020 Earnings Conference Call - Final Transcript

Jul 29, 2020 • 11:00 am ET

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Highwoods Properties Inc (NYSE:HIW) Q2 2020 Earnings Conference Call - Final Transcript

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Q & A
Executive
Ted Klinck

think there is a chance that cap rates can -- whether they go down or not or stay stable and prices stay high, I think to be determined. But I do think we've even heard one example of a deal that is actually going under contract at a higher price than it was pre-COVID when it was under contract. So, fell out of contract, went under contract recently with at a higher price. So, I think there's a lot of capital out there with low interest rates, I think that bodes well for the transaction market when properties start coming back to market.

Analyst
Daniel Ismail

And given some of the headline issues facing some of the coastal markets, have you noticed any changes in the bidding tenants [Phonetic] or the potential buyers who might be looking at some of the markets here?

Executive
Ted Klinck

I don't think we got anything where we've seen that yet. The transactions we're working on, just -- it's largely Phase 2 of the market rotation plan and those assets are more geared towards buyers of more local and regional buyers for the most part. So, we haven't seen any indicators of new buyer, new capital sources coming for those transactions yet.

Analyst
Daniel Ismail

Great. Thank you.

Operator
Operator

And there are no further questions at this time.

Executive
Ted Klinck

All righty. Well, thank you, everyone, for joining the call this morning and your continued support and interest in Highwoods. I hope everyone stays safe and healthy. Thank you very much.

Operator
Operator

[Operator Closing Remarks]