content: <html>
  
  <head>
  
  
  <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'>Date of Report (date
  of earliest event reported):&nbsp; December 21, 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'><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 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='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='margin-left:4.5pt;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 2 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="margin-top: 0; margin-bottom: 0">On December 21, 2005, Parkway Properties, Inc. (the
  &quot;Company&quot;), through its operating partnership, Parkway Properties LP, closed an
  $86 million loan with Teachers Insurance and Annuity Association of America
  (&quot;TIAA&quot;).&nbsp; This loan replaces the Company's existing indebtedness with TIAA
  which was due to expire on July 1, 2008, had an interest rate of 6.945%, and
  had an outstanding balance of $61,396,000 as of December 20, 2005. &nbsp;The terms
  of the new loan include the following highlights; a maturity date of January
  2016, a fixed interest rate of 6.21%, a twenty-five year amortization, and a
  75% loan to value ratio.&nbsp; Additionally, the collateral pool for the loan has been
  reduced from twelve properties to five, and includes Comerica Building,
  Hillsboro I-IV, Hillsboro V, Peachtree Dunwoody Pavilion and One Commerce Green.&nbsp;
  A copy of the Promissory Note between Parkway Properties LP and TIAA is
  attached as exhibit 10.1 and is incorporated by reference herein.&nbsp; A form of Deed
  of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing
  by and between Parkway Properties LP as borrower and Jack Edelbrock as trustee
  for the benefit of TIAA as lender, which is substantially identical in form for
  each property in the collateral pool, is attached as exhibit 10.2 and is
  incorporated by reference herein.&nbsp; </p>
  
  
  
  
  
  <p style="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'>See Item 1.01 above.</p>
  
  
  
  <p style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0"><b>ITEM 9.01.&nbsp;&nbsp;&nbsp;&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">10.1&nbsp;&nbsp;&nbsp;&nbsp; Promissory Note between Parkway Properties LP and
  Teachers Insurance and Annuity Association of America</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p style="margin-top: 0; margin-bottom: 0">10.2&nbsp;&nbsp;&nbsp;&nbsp; Form of Deed of Trust, Assignment of Leases and
  Rents, Security Agreement and Fixture Filing by and between Parkway Properties
  LP as borrower and Jack Edelbrock as trustee for the benefit of Teachers Insurance
  and Annuity Association of America as lender</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; December 21, 2005</p>
  
  
  
  <p style='text-indent:3.0in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p style='text-indent:3.0in; margin-top:0; margin-bottom:0'>PARKWAY PROPERTIES, INC.</p>
  
  
  
  
  
  <p style='margin-left:3.25in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p style='margin-left:3.25in; margin-top:0; margin-bottom:0'>By: /<u>s/ William R. Flatt&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></p>
  
  <p style='margin-left:3.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; William R. Flatt</p>
  
  <p align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  Chief Financial Officer Page </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'>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>
  
  
  
  
  
  
  
  </body>
  
  </html>
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "f8ktiaaloanclosing.htm", "description": "8-K HTML FORMAT", "secsgml_size_bytes": 12104}, {"type": "8-K", "sequence": "4", "filename": "f8ktiaaloanclosing.pdf", "description": "8-K PDF FORMAT", "secsgml_size_bytes": 84462}]
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": "051279682"}, "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):  December 21, 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 2 Pages
  ITEM 1.01.  Entry into a
  Material Definitive Agreement
  On December 21, 2005, Parkway Properties, Inc. (the
  "Company"), through its operating partnership, Parkway Properties LP, closed an
  $86 million loan with Teachers Insurance and Annuity Association of America
  ("TIAA").  This loan replaces the Company's existing indebtedness with TIAA
  which was due to expire on July 1, 2008, had an interest rate of 6.945%, and
  had an outstanding balance of $61,396,000 as of December 20, 2005.  The terms
  of the new loan include the following highlights; a maturity date of January
  2016, a fixed interest rate of 6.21%, a twenty-five year amortization, and a
  75% loan to value ratio.  Additionally, the collateral pool for the loan has been
  reduced from twelve properties to five, and includes Comerica Building,
  Hillsboro I-IV, Hillsboro V, Peachtree Dunwoody Pavilion and One Commerce Green. 
  A copy of the Promissory Note between Parkway Properties LP and TIAA is
  attached as exhibit 10.1 and is incorporated by reference herein.  A form of Deed
  of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing
  by and between Parkway Properties LP as borrower and Jack Edelbrock as trustee
  for the benefit of TIAA as lender, which is substantially identical in form for
  each property in the collateral pool, is attached as exhibit 10.2 and is
  incorporated by reference herein.
  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 9.01.     Financial Statements and Exhibits
  (c)        Exhibits.
  10.1     Promissory Note between Parkway Properties LP and
  Teachers Insurance and Annuity Association of America
  10.2     Form of Deed of Trust, Assignment of Leases and
  Rents, Security Agreement and Fixture Filing by and between Parkway Properties
  LP as borrower and Jack Edelbrock as trustee for the benefit of Teachers Insurance
  and Annuity Association of America as lender
  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:    December 21, 2005
  PARKWAY PROPERTIES, INC.
  By: /
  s/ William R. Flatt
  William R. Flatt
  Chief Financial Officer Page
  2 of 3
  Pages