Country Club Plaza owner Highwoods Properties reports smaller quarterly profit

Highwoods Properties Inc. on Tuesday reported lower profits for both the fourth-quarter and full year compared with 2013’s results.

The Raleigh, N.C. company, which owns the Country Club Plaza shopping, entertainment and office district in Kansas City, earned $21.9 million in the three months that ended Dec. 31. That’s down from net income of $29.7 million in the fourth quarter of 2013.

For the year, Highwoods earned $108.4 million, down from $122.9 million a year earlier.

Ed Fritsch, Highwoods’ president and chief executive officer, called 2014 a “solid” year for the real estate development company. “We are benefitting from more positive economic conditions, particularly in the southeast,” Fritsch said.

The Star

This story was originally published February 10, 2015 at 4:06 PM with the headline "Country Club Plaza owner Highwoods Properties reports smaller quarterly profit."