Office REIT Parkway Properties Inc agreed to run the property management business of Eola Capital and buy six properties from the private commercial real estate firm in a deal valued at about $462 million to expand assets under management. Parkway expects the combination to add 16-22 cents per share to recurring funds from operations (FFO) based on a full-year run rate, the company said in a statement. Orlando-based Eola Capital is one of the largest privately held commercial real estate firms in the Eastern United States. Parkway expects the deal to close during the second quarter of 2011.
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