content: <html>
  
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  <title>SECURITIES AND EXCHANGE COMMISSION</title>
  
  
  
  </head>
  
  <body lang=EN-US link="#000000" vlink=purple>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  
  
  
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>UNITED STATES</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>SECURITIES AND EXCHANGE COMMISSION</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Washington, D.C.
  20549</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b><u>__________________________</u></b></p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>FORM 8-K</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Current Report</p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Pursuant to Section
  13 or 15(d) of the Securities Exchange Act of 1934</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Date of Report (date
  of earliest event reported):&nbsp; November 10, 2005</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><b><u>PARKWAY PROPERTIES, INC</u></b><u>.</u></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Exact Name of
  Registrant as Specified in its Charter)</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Maryland</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>1-11533</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>74-2123597</u></p>
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; (State or Other Jurisdiction &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Commission
  File Number) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (IRS Employer</p>
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of Incorporation)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identification
  No.)</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'><u>One
  Jackson Place, Suite 1000, 188 East Capitol Street, Jackson, MS 39225-4647</u></p>
  
  <p align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'>(Address
  of Principal Executive Offices, including zip code)</p>
  
  
  
  <p align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'><u>(601) 948-4091</u></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Registrant's
  telephone number, including area code)</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'><u>Not
  Applicable</u></p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Former name or
  former address, if changed since last report)</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-indent:.5in; margin-top:0; margin-bottom:0'>Check the appropriate box below if
  the Form 8-K filing is intended to simultaneously satisfy the filing obligation
  of the registrant under any of the following provisions (see General
  Instruction A.2. below):</p>
  
  
  
  <p style='text-indent:.5in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&#61551;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to
  Rule 425 under the Securities Act (17 CFR 230.425)</p>
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&#61551;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule
  14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&#61551;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications
  pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>
  
  <p style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&#61551;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications
  pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Page 1 of 3 Pages</p>
  
  <div class=MsoNormal align=center style='text-align:center'>
  
  <hr size=2 width="100%" noshade color=navy align=center>
  
  </div>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">
  
  
  
  <br clear=all
  style='page-break-before:always'>
  
  
  
  
  
  
  
  
  
  
  </p>
  
  
  
  
  
  
  
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'><b>ITEM 1.01.&nbsp; Entry into a
  Material Definitive Agreement</b></p>
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>On November 10, 2005, Parkway
  Properties, Inc. (the &quot;Company&quot;) entered into a Third Amendment to the Credit
  Agreement with a consortium of 10 banks with Wachovia Capital Markets, LLC as
  Sole Lead Arranger and Sole Book Runner, Wachovia Bank, National Association as
  Agent and other banks as participants.&nbsp; The Amendment increases the total debt
  to total asset value ratio and the pool availability ratio covenants from 55%
  to 60% and decreases the capitalization rate used in calculating the defined
  &quot;value&quot; from 9% to 8.5%. &nbsp;These changes allow greater financial flexibility and
  borrowing capacity while positioning the Company to execute certain anticipated
  transactions more timely. &nbsp;Additionally, it adjusts the variables of the Credit
  Agreement to be more closely related to the current market conditions. The
  interest rate on the unsecured credit facility (the &quot;$190 million line&quot;) is
  equal to the 30-day LIBOR rate plus 100 to 150 basis points, depending upon
  overall Company leverage (with the current rate set at 132.5 basis points or
  5.415 % at November 1, 2005).&nbsp; The $190 million line matures February 6, 2007
  and contains a one-year extension option available at maturity.&nbsp; The line is
  expected to fund acquisitions of additional investments.&nbsp; The Company paid an
  upfront fee of $20,000 upon closing of the Amendment.&nbsp; The Company pays an
  annual administration fee of $35,000 and also pays fees on the unused portion
  of the line based upon overall Company leverage, with the current rate set at
  12.5 basis points.</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'><b>ITEM 2.03.&nbsp; Creation of a
  Direct Financial Obligation or an Obligation under an Off-Balance Sheet
  Arrangement of a Registrant</b></p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>See Item 1.01 above.</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'><b>ITEM 5.03&nbsp; Amendments to
  Articles of Incorporation or Bylaws; Change in Fiscal Year.</b></p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>On November 8,
  2005, the Company's Board of Directors approved Articles Supplementary to the
  Company's Articles of Incorporation to reclassify 400,000 authorized shares of
  Series C Preferred Stock, par value $.001 per share (which previously were
  authorized in connection with the Company's now expired Shareholder Rights
  Plan), into the same number of authorized but unissued shares of Common Stock, par value $.001
  per share, of the Company subject to further classification or reclassification
  and issuance by the Company's Board of Directors.&nbsp; The Articles Supplementary
  were filed with the State Department of Assessments and Taxation of the State
  of Maryland on November 14, 2005 and became effective on that date. The
  Articles Supplementary are attached hereto as Exhibit 3.1 and are incorporated
  herein by reference.</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'><b>ITEM 9.01&nbsp; Financial
  Statements and Exhibits.</b></p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">The following are filed as exhibits to this Current Report
  on Form 8-K:</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Articles Supplementary of Parkway Properties, Inc. filed with the State
  Department of Assessments and Taxation of the State of Maryland on </p>
  
  
  
  
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">November 14, 2005.</p>
  
  
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Page 2 of 3 Pages</p>
  
  <div class=MsoNormal align=center style='text-align:center'>
  
  <hr size=2 width="100%" noshade color=navy align=center>
  
  </div>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">
  
  
  
  <br clear=all
  style='page-break-before:always'>
  
  
  
  
  
  
  
  
  
  
  </p>
  
  
  
  
  
  
  
  
  
  
  <p style='margin-left:0in;text-align:justify;text-indent:0in; margin-top:0; margin-bottom:0'>(10)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Third Amendment to Credit Agreement among Parkway Properties, LP; 111
  Capitol Building Limited Partnership; Parkway Jackson LLC; Parkway Lamar LLC;
  Parkway Properties, Inc. and Parkway Properties General Partners, Inc. as
  Guarantors; Wachovia Bank, National Association as Agent; Wachovia Capital
  Markets, LLC as Sole Lead Arranger and Sole Book Runner and the Lenders dated November
  10, 2005.</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>SIGNATURES</p>
  
  
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style='text-align:justify;text-indent:.5in; margin-top:0; margin-bottom:0'>Pursuant to the
  requirements of the Securities Exchange Act of 1934, the registrant has duly
  caused this report to be signed on its behalf by the undersigned hereunto duly
  authorized.</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">Date:&nbsp;&nbsp;&nbsp; November 14, 2005</p>
  
  
  
  <p style='text-indent:3.0in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PARKWAY PROPERTIES, INC.</p>
  
  
  
  
  
  <p style='margin-left:3.25in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By: /<u>s/ Mandy M. Pope&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>
  
  <p style='margin-left:3.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mandy M. Pope</p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Chief Accounting Officer </p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>Page 3
  of 3 Pages</p>
  
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  &nbsp;</div>
  
  
  
  
  
  
  
  </body>
  
  </html>
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metadata_filer: {"company-data": {"conformed-name": "PARKWAY PROPERTIES INC", "cik": "0000729237", "assigned-sic": "6798", "irs-number": "742123597", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11533", "film-number": "051202294"}, "business-address": {"street1": "ONE JACKSON PL", "street2": "188 E CAPITOL ST STE 1000", "city": "JACKSON", "state": "MS", "zip": "39225-4647", "phone": "6019484091"}, "mail-address": {"street1": "ONE JACKSON PL P O BOX 24647", "street2": "188 E CAPITOL ST STE 1000", "city": "JACKSON", "state": "MS", "zip": "39225"}, "former-company": {"former-conformed-name": "PARKWAY CO", "date-changed": "19951018"}}
text: SECURITIES AND EXCHANGE COMMISSION
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C.
  20549
  __________________________
  FORM 8-K
  Current Report
  Pursuant to Section
  13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (date
  of earliest event reported):  November 10, 2005
  PARKWAY PROPERTIES, INC
  .
  (Exact Name of
  Registrant as Specified in its Charter)
  Maryland
  1-11533
  74-2123597
  (State or Other Jurisdiction             (Commission
  File Number)                      (IRS Employer
  of Incorporation)                                                                                 Identification
  No.)
  One
  Jackson Place, Suite 1000, 188 East Capitol Street, Jackson, MS 39225-4647
  (Address
  of Principal Executive Offices, including zip code)
  (601) 948-4091
  (Registrant's
  telephone number, including area code)
  Not
  Applicable
  (Former name or
  former address, if changed since last report)
  Check the appropriate box below if
  the Form 8-K filing is intended to simultaneously satisfy the filing obligation
  of the registrant under any of the following provisions (see General
  Instruction A.2. below):
           Written communications pursuant to
  Rule 425 under the Securities Act (17 CFR 230.425)
           Soliciting material pursuant to Rule
  14a-12 under the Exchange Act (17 CFR 240.14a-12)
           Pre-commencement communications
  pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
           Pre-commencement communications
  pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Page 1 of 3 Pages
  ITEM 1.01.  Entry into a
  Material Definitive Agreement
  On November 10, 2005, Parkway
  Properties, Inc. (the "Company") entered into a Third Amendment to the Credit
  Agreement with a consortium of 10 banks with Wachovia Capital Markets, LLC as
  Sole Lead Arranger and Sole Book Runner, Wachovia Bank, National Association as
  Agent and other banks as participants.  The Amendment increases the total debt
  to total asset value ratio and the pool availability ratio covenants from 55%
  to 60% and decreases the capitalization rate used in calculating the defined
  "value" from 9% to 8.5%.  These changes allow greater financial flexibility and
  borrowing capacity while positioning the Company to execute certain anticipated
  transactions more timely.  Additionally, it adjusts the variables of the Credit
  Agreement to be more closely related to the current market conditions. The
  interest rate on the unsecured credit facility (the "$190 million line") is
  equal to the 30-day LIBOR rate plus 100 to 150 basis points, depending upon
  overall Company leverage (with the current rate set at 132.5 basis points or
  5.415 % at November 1, 2005).  The $190 million line matures February 6, 2007
  and contains a one-year extension option available at maturity.  The line is
  expected to fund acquisitions of additional investments.  The Company paid an
  upfront fee of $20,000 upon closing of the Amendment.  The Company pays an
  annual administration fee of $35,000 and also pays fees on the unused portion
  of the line based upon overall Company leverage, with the current rate set at
  12.5 basis points.
  ITEM 2.03.  Creation of a
  Direct Financial Obligation or an Obligation under an Off-Balance Sheet
  Arrangement of a Registrant
  See Item 1.01 above.
  ITEM 5.03  Amendments to
  Articles of Incorporation or Bylaws; Change in Fiscal Year.
  On November 8,
  2005, the Company's Board of Directors approved Articles Supplementary to the
  Company's Articles of Incorporation to reclassify 400,000 authorized shares of
  Series C Preferred Stock, par value $.001 per share (which previously were
  authorized in connection with the Company's now expired Shareholder Rights
  Plan), into the same number of authorized but unissued shares of Common Stock, par value $.001
  per share, of the Company subject to further classification or reclassification
  and issuance by the Company's Board of Directors.  The Articles Supplementary
  were filed with the State Department of Assessments and Taxation of the State
  of Maryland on November 14, 2005 and became effective on that date. The
  Articles Supplementary are attached hereto as Exhibit 3.1 and are incorporated
  herein by reference.
  ITEM 9.01  Financial
  Statements and Exhibits.
  (c)        Exhibits
  The following are filed as exhibits to this Current Report
  on Form 8-K:
  3.1      
  Articles Supplementary of Parkway Properties, Inc. filed with the State
  Department of Assessments and Taxation of the State of Maryland on
  November 14, 2005.
  Page 2 of 3 Pages
  (10)          
  Third Amendment to Credit Agreement among Parkway Properties, LP; 111
  Capitol Building Limited Partnership; Parkway Jackson LLC; Parkway Lamar LLC;
  Parkway Properties, Inc. and Parkway Properties General Partners, Inc. as
  Guarantors; Wachovia Bank, National Association as Agent; Wachovia Capital
  Markets, LLC as Sole Lead Arranger and Sole Book Runner and the Lenders dated November
  10, 2005.
  SIGNATURES
  Pursuant to the
  requirements of the Securities Exchange Act of 1934, the registrant has duly
  caused this report to be signed on its behalf by the undersigned hereunto duly
  authorized.
  Date:    November 14, 2005
  PARKWAY PROPERTIES, INC.
  By: /
  s/ Mandy M. Pope
  Mandy M. Pope
  Chief Accounting Officer
  Page 3
  of 3 Pages