921082--6/5/2006--HIGHWOODS_PROPERTIES

related topics

{loan, real, estate}

{tax, income, asset}

{cost, contract, operation}

{provision, law, control}

{cost, operation, labor}

{loss, insurance, financial}

{investment, property, distribution}

{debt, indebtedness, cash}

Our performance is subject to risks associated with real estate investment Future acquisitions and development properties may fail to perform in accordance with our expectations and may require development and renovation costs exceeding our estimates. Illiquidity of real estate investments and the tax effect of dispositions could significantly impede our ability to sell assets or to respond to favorable or adverse changes in the performance of our properties. Because holders of our Common Units, including some of our officers and directors, may suffer adverse tax consequences upon the sale of some of our properties, it is possible that we may sometimes make decisions that are not in your best interest The success of our joint venture activity depends upon our ability to work effectively with financially sound partners. Our insurance coverage on our properties may be inadequate. Our use of debt to finance our operations could have a material adverse effect on our cash flow and ability to make distributions. We may be subject to taxation as a regular corporation if we fail to maintain our REIT status Because provisions contained in Maryland law, our charter and our bylaws may have an anti-takeover effect, investors may be prevented from receiving a control premium for their shares.

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921082--6/5/2006--HIGHWOODS_PROPERTIES_INC