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  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>UNITED STATES</b></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>SECURITIES AND EXCHANGE COMMISSION</b></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>Washington, D.C.
  20549</p>
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><b><u>__________________________</u></b></p>
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>FORM 8-K</b></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>Current Report</p>
  
  <p class=MsoNormal 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 class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>Date of Report (date
  of earliest event reported):&nbsp; March 31, 2005</p>
  
  
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><b><u>PARKWAY PROPERTIES, INC</u></b><u>.</u></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Exact Name of
  Registrant as Specified in its Charter)</p>
  
  
  
  
  
  <p class=MsoNormal style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  
  
  <p class=MsoNormal style="margin-top: 0; margin-bottom: 0">&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 class=MsoNormal style="margin-top: 0; margin-bottom: 0">&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 class=MsoNormal style="margin-top: 0; margin-bottom: 0">&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 class=MsoNormal align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal 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 class=MsoNormal 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 class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'><u>(601) 948-4091</u></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Registrant's
  telephone number, including area code)</p>
  
  
  
  <p class=MsoNormal align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal align=center style='margin-left:4.5pt;text-align:center; margin-top:0; margin-bottom:0'><u>Not
  Applicable</u></p>
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>(Former name or
  former address, if changed since last report)</p>
  
  
  
  <p class=MsoNormal style='text-indent:.5in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal 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 class=MsoNormal style='margin-left:.5in;text-indent:-.5in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal 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 class=MsoNormal 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 class=MsoNormal 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 class=MsoNormal 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>
  
  
  
  <hr color="#000080">
  <p style="margin-top: 0; margin-bottom: 0"><br clear=all
  style='page-break-before:always'>
  
  
  </p>
  
  
  <p class=MsoNormal style='text-align:justify; margin-top:0; margin-bottom:0'><b>ITEM 1.01.&nbsp; Entry into a
  Material Definitive Agreement</b></p>
  
  <p class=MsoNormal style='text-align:justify; margin-top:0; margin-bottom:0'><b>&nbsp;</b></p>
  
  <p class=MsoNormal style='text-align:justify; margin-top:0; margin-bottom:0'>On March 31, 2005, Parkway
  Properties, Inc. (the &quot;Company&quot;) entered into a Second 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 unsecured
  revolving credit facility from $170 million to $190 million (the &quot;$190 million
  line&quot;), increases the secured debt to total asset value ratio covenant
  requirement from 40% to 45% and modifies certain definitions associated with
  covenant calculations.&nbsp; The increased size of the line of credit and increase
  in secured debt to total asset value ratio allows greater financial flexibility
  and capacity while accommodating the Company's growth.&nbsp; The interest rate on
  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 4.43% at March 31, 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 $50,000 (25 basis points of
  the increased commitment) 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 class=MsoNormal style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal 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 class=MsoNormal style='text-align:justify; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal style='text-align:justify; margin-top:0; margin-bottom:0'>See Item 1.01 above.</p>
  
  
  
  <p class=MsoNormal style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p class=MsoNormal style="margin-top: 0; margin-bottom: 0"><b>ITEM 9.01.&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits</b></p>
  
  
  
  <p class=MsoNormal style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p class=MsoNormal style="margin-top: 0; margin-bottom: 0">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</p>
  
  
  
  <p class=MsoNormal style='margin-left:0in;text-align:justify;text-indent:0in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal style='margin-left:0in;text-align:justify;text-indent:0in; margin-top:0; margin-bottom:0'>(10)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Second 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
  March 31, 2005.</p>
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  <p class=MsoNormal align=center style='text-align:center; margin-top:0; margin-bottom:0'>SIGNATURES</p>
  
  
  
  <p class=MsoNormal 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 class=MsoNormal style="margin-top: 0; margin-bottom: 0">&nbsp;</p>
  
  
  
  <p class=MsoNormal style="margin-top: 0; margin-bottom: 0">Date:&nbsp;&nbsp;&nbsp; April 4, 2005</p>
  
  
  
  <p class=MsoNormal style='text-indent:3.0in; margin-top:0; margin-bottom:0'>&nbsp;</p>
  
  
  
  
  
  <p class=MsoNormal style='text-indent:3.0in; margin-top:0; margin-bottom:0'>PARKWAY PROPERTIES, INC.</p>
  
  
  
  
  
  <p class=MsoNormal style='margin-left:3.25in; margin-top:0; margin-bottom:0'>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 class=MsoNormal style='margin-left:3.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mandy M. Pope</p>
  
  <p class=MsoNormal style='margin-left:3.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Accounting
  Officer</p>
  
  </div>
  
  </body>
  
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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": "05728027"}, "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):  March 31, 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))
  ITEM 1.01.  Entry into a
  Material Definitive Agreement
  On March 31, 2005, Parkway
  Properties, Inc. (the "Company") entered into a Second 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 unsecured
  revolving credit facility from $170 million to $190 million (the "$190 million
  line"), increases the secured debt to total asset value ratio covenant
  requirement from 40% to 45% and modifies certain definitions associated with
  covenant calculations.  The increased size of the line of credit and increase
  in secured debt to total asset value ratio allows greater financial flexibility
  and capacity while accommodating the Company's growth.  The interest rate on
  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 4.43% at March 31, 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 $50,000 (25 basis points of
  the increased commitment) 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 9.01.     Financial Statements and Exhibits
  (c)        Exhibits.
  (10)      Second 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
  March 31, 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:    April 4, 2005
  PARKWAY PROPERTIES, INC.
  By: /
  s/ Mandy M. Pope
  Mandy M. Pope
  Chief Accounting
  Officer