Piedmont Realty Trust announced the pricing of a $200 million offering of 2.875% exchangeable senior notes due 2031, with an option for an additional $30 million. The company will guarantee these unsecured obligations, which settle on September 17, 2026. Net proceeds are estimated at approximately $194.3 million, or $223.5 million if the over-allotment is exercised. Proceeds will primarily redeem outstanding 9.250% senior notes due 2028 and pay associated premiums. Additionally, the company plans to use roughly $50 million to repurchase approximately 5.43 million shares of common stock at $9.20 per share in a concurrent transaction. Piedmont Realty Trust operates as a real estate investment trust focused on owning, managing, and developing Class A office properties in U.S. Sunbelt markets.

Piedmont Realty Trust acquired the 4075 Wilson Boulevard office building in Arlington, VA for $52.7 million and completed the sale of Royal Lane Land in Dallas for $12.0 million. The company also entered into a contract to sell additional office properties for approximately $80 million, expected to close in Q4 2026. Additionally, Piedmont announced a proposed private offering of $200 million in exchangeable senior notes due 2031, with proceeds intended to redeem outstanding 9.25% senior notes due 2028 and fund concurrent share repurchases. The company operates as a real estate investment trust focused on owning, managing, and developing Class A office properties.

Piedmont Realty Trust, Inc. reported second quarter 2026 financial results, recognizing a net loss of $11.1 million, or $0.09 per diluted share, compared to a $16.8 million loss in the prior year period. Core FFO per diluted share increased to $0.38 from $0.36, driven by rental rate growth and new lease commencements. Same Store NOI on a cash basis grew 9.0%, while the company executed approximately 459,000 square feet of leasing with cash rent roll-ups of 14.1%. The company amended its $325 million Unsecured Term Loan to increase the principal to $400 million and extend the maturity to May 28, 2031. Management raised its 2026 annual outlook, projecting Core FFO per diluted share between $1.47 and $1.53. Piedmont Realty Trust, Inc. is a real estate investment trust that owns, manages, and develops Class A office properties primarily in major U.S. Sunbelt markets.