Parkway

What Parkway does

Parkway is a privately held, vertically integrated commercial real estate investment firm specializing in office, industrial, and multifamily assets across high-growth Sunbelt markets. The firm was originally founded in 1971 and operated as a publicly traded REIT (NYSE: PKY) before Jim Heistand took it private with CPPIB in 2017; the current entity was formed in 2023 through a partnership between Parkway Property Investments and Houston-based Midway, combining over 100 years of collective experience. Parkway executes a full investment lifecycle — sourcing, acquiring, developing, leasing, and operating institutional-quality real estate — supported by a third-party accounting and financial reporting services module built on Yardi-integrated platforms.

The firm's revenue model blends (i) investment management and performance fees from institutional capital partnerships (e.g., Silverpeak on Lakeland Central Park, Everest Equity Group on Bennett Place), (ii) recurring property operations and leasing income across owned office, industrial and multifamily assets, (iii) third-party accounting services leveraging REIT-grade infrastructure, and (iv) development fees from ground-up industrial and multifamily projects. As of late 2025, Parkway reports $4B+ in completed investments since 2011, 15M+ SF under management (with combined AUM cited up to 40M SF), 13 markets across Texas, Florida, Georgia, Virginia, Arizona, Colorado, and California, and roughly $6.9M+ in active development pipeline across stages.

The customer base is dual-sided. On the capital side, Parkway serves institutional investors — pension funds, family offices, and named partners such as Silverpeak and an LP with $140B+ in real estate AUM — through joint ventures and managed investments. On the real estate side, it serves enterprise and mid-market tenants across flagship Sunbelt properties (CityWestPlace, Post Oak Central, Baldwin Point, 1111 Brickell, Lakeland Central Park, East River), with notable tenants including Bechtel Energy (394,000 SF, 15-year lease), Noble Corporation (110,250 SF), Orion Group Holdings (63,519 SF HQ), Travelers Insurance, and Landsea Homes. Pricing is bespoke and project-specific, distributed through institutional capital partnerships, broker networks (CBRE, Savills, Cushman & Wakefield), and direct tenant engagement across seven regional offices.

Name

Parkway

Legal name

Parkway Ventures, LLC

Website

https://pky.com

Company type

Private

Founded year

1971

Operating status

Operating

Headcount range

251–500 employees

Short description

Parkway is a privately held, vertically integrated commercial real estate investment firm that owns, operates, and develops office, industrial, and multifamily assets across high-growth Sunbelt markets, serving institutional capital partners and enterprise tenants.

Ownership category

akta.pro rank

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Investment Management Fees: Parkway generates revenue through acquisition, management, and performance fees from investing capital on behalf of institutional partners and investors in office, industrial, and multifamily assets across Sunbelt markets.
2. Third-Party Accounting Services: Parkway offers accounting and financial reporting services for institutional partners and third-party clients, providing property accounting, treasury management, acquisition onboarding, and consolidated reporting using their REIT-level infrastructure.
3. Property Operations and Leasing: Revenue from tenant leases across their portfolio of office, industrial, and multifamily properties, including rental income and associated property management services.
4. Development Fees: Fees earned from ground-up development of industrial and multifamily projects, including entitlement, construction management, and delivery services.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Parkway is a vertically integrated commercial real estate investment firm that acquires, develops, owns, leases, and manages office, industrial, and multifamily assets in high-growth Sunbelt markets. The firm delivers investment management, asset management, property management, leasing, development, and third-party accounting services on behalf of institutional capital partners and corporate tenants, with 15M+ square feet currently under management.

Product overview

Parkway is a vertically integrated commercial real estate investment firm offering a comprehensive platform of services across office, industrial, and multifamily asset classes. The company operates through distinct but interconnected service modules including Investments, Accounting and Financial Reporting, Asset Management, Development, Project and Construction Management, Leasing Strategy, Marketing and Creative, and ESG Strategy. Their property portfolio includes Class A office assets (CityWestPlace, Post Oak Central, 1111 Brickell, Baldwin Point), industrial developments (Lakeland Central Park), and multifamily projects (Bennett Place, Skyline at Westfall Station). The firm targets high-growth Sunbelt markets with a disciplined, data-driven investment approach backed by institutional-grade systems and processes.

Differentiator

Problem solved

Functional benefit

Products and services

• Office Asset Management

Quantifiable outcome

• Over $4 billion in completed investments since 2011
• +4 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core, major and minor.

• Everest Equity GroupcoreStrategic or Co-development Partner · 1 September 2025Everest Equity Group partnered with Parkway and Silverpeak to acquire 22 acres in Lake Nona for Bennett Place, a $120 million mixed-use development. Contributes equity capital and co-development expertise to the project.
• MidwaycoreStrategic or Co-development PartnerMidway serves as Parkway's exclusive development partner for transformative real estate projects. Midway continues to operate as a separate development entity and oversees redevelopment of Post Oak Central and continued development of CityWestPlace. The partnership combines Midway's placemaking capabilities with Parkway's investment acumen and capital relationships.
• Jett DevelopmentmajorImplementation/ SI/ Consulting PartnerJett Retail Development leads the retail component of Bennett Place, overseeing 6,000 SF of inline retail development at the Lake Nona mixed-use project with 75% of space already in lease negotiations.
• Alexander InvestmentsmajorImplementation/ SI/ Consulting PartnerAlexander Investments oversees the multifamily component of Bennett Place development, managing the 350-unit multifamily development portion of the $120 million mixed-use project.
• Cushman & WakefieldcoreChannel Partner/ Reseller/ DistributorCushman & Wakefield represents Parkway in marketing speculative industrial development and pad-ready sites at Lakeland Central Park. Previously represented Parkway in sale of LCP 200 (705,000 SF building).
• Marcobay ConstructionminorOthersMarcobay Construction serves as general contractor for LCP 300, the 261,000 SF cross-dock industrial building at Lakeland Central Park.
• Jr. Davis ConstructionminorOthersJr. Davis Construction serves as general contractor for infrastructure work at Lakeland Central Park Phase 2 expansion.

Scale indicators14 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Terreno Realty: Industrial REIT focused on infill, last-mile, and high-growth Sunbelt-style markets. Comparable as a public peer for Parkway's industrial acquisition and development thesis.
• Cousins Properties: Sunbelt-focused public office REIT that merged with Parkway Properties in 2016 and shares executives (including Matt Mooney) with Parkway. Highly comparable on geography, asset class focus, and tenant profile.
• Eastgroup Properties: Sunbelt-focused industrial REIT with development pipeline concentrated in Florida, Texas, Arizona, and the Carolinas. Directly comparable to Parkway's Lakeland Central Park and industrial build-out strategy.
• Highwoods Properties: Southeast/Sunbelt public office REIT that acquired Jim Heistand's Associated Capital Partners for $622M. Direct peer on office strategy, regional focus, and institutional tenant base.
• Mid-America Apartment Communities: Largest public Sunbelt multifamily REIT with deep Florida and Texas exposure. Comparable to Parkway's multifamily expansion at Bennett Place and other Florida developments.
• Crow Holdings: Privately held Texas-based CRE investment and development firm with industrial, multifamily, and office strategies in Sunbelt markets. Comparable as a private peer on asset-class mix and JV-driven growth model.

Broad incumbents

• JLL (Jones Lang LaSalle): Global commercial real estate services and investment firm with capital markets, property management, and ESG advisory capabilities. Comparable to Parkway's vertically integrated services platform and Sunbelt investment footprint.
• Brandywine Realty Trust: Public office REIT with mixed-use development capabilities. Comparable on vertically integrated platform and value-add office strategy, though more Northeast/Mid-Atlantic weighted.
• Kite Realty Group: Public retail-anchored and mixed-use REIT with a development platform. Comparable on mixed-use development capability akin to East River and Bennett Place, though in a different property type.

Emerging players

• Phillips Edison & Company: Public REIT with a third-party services and asset management platform. Comparable to Parkway's ambition to scale third-party accounting, asset management, and ESG services alongside owned real estate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/parkway-national
• Instagraminstagram.com/pkynational/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parkway