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  <p class=MsoNormal align=center style='text-align:center'><b>&nbsp;</b></p>
  
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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; April 27, 2006</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 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;&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 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;&nbsp;&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 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; 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; 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; 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; Pre-commencement communications
  pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>
  
  
  
  <p class=MsoFooter align=center style='text-align:center'>Page 1 of 2 Pages</p>
  
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  <p class=MsoNormal style='text-align:justify'><b>ITEM 1.01.&nbsp; Entry into a
  Material Definitive Agreement</b></p>
  
  <p class=MsoNormal style='text-align:justify'><b>&nbsp;</b></p>
  
  <p class=MsoNormal style='text-align:justify'>On April 27, 2006, Parkway
  Properties, Inc. (the &quot;Company&quot;) entered into a First Amended and Restated Credit
  Agreement with a consortium of 10 banks with Wachovia Bank, National
  Association as Agent; PNC Bank, National Association as Syndication Agent; Bank
  of America, N.A., JPMorgan Chase Bank, N.A, and Wells Fargo Bank, National
  Association as Co-Documentation Agents; and other banks as participants.&nbsp; The
  First Amended and Restated Credit Agreement provides for a $200 million
  unsecured credit facility (the &quot;$200 million line&quot;), which is comprised of a
  $60 million term loan maturing in April 2011 and a $140 million revolving
  credit facility maturing in April 2010 with a one-year extension option
  available at maturity.&nbsp; The $200 million line replaces the existing $190
  million unsecured revolving credit facility, which was to mature February
  2007.&nbsp; The interest rate on the $200 million line is based on LIBOR plus 80 to
  130 basis points, depending upon overall Company leverage (with the current
  rate set at 115 basis points which is equivalent to a total rate of 6.14% at
  April 27, 2006).&nbsp; The Company paid a facility fee of $200,000 (10 basis points)
  and origination fees of $688,000 (34.4 basis points) upon closing of the loan
  agreement.&nbsp; Additionally, the Company pays an annual administration fee of
  $35,000 and fees on the unused portion of the revolver ranging between 12.5 and
  20 basis points based upon overall Company leverage (with the current rate set
  at 12.5 basis points).&nbsp; The increased size of the line affords the Company
  greater financial flexibility and capacity while accommodating the Company's
  growth.</p>
  
  
  
  <p class=MsoNormal style='text-align:justify'><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'>See Item 1.01 above.</p>
  
  
  
  <p class=MsoNormal><b>ITEM 9.01.&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits</b></p>
  
  
  
  <p class=MsoNormal>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</p>
  
  
  
  <p class=MsoBodyTextFirstIndent style='margin-bottom:12.0pt;text-align:justify;
  text-indent:0in'>(10)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First
  Amended and Restated Credit Agreement by and among Parkway Properties LP, a
  Delaware limited partnership; Wachovia Bank, National Association, as Agent;
  PNC Bank, National Association, as Syndication Agent; Bank of America, N.A.,
  JPMorgan Chase Bank, N.A., and Wells Fargo Bank, National Association, as
  Co-Documentation Agents and the Lenders dated April 27, 2006.</p>
  
  <p class=MsoNormal align=center style='text-align:center'>SIGNATURES</p>
  
  
  
  <p class=MsoNormal style='text-align:justify;text-indent:.5in'>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>Date:&nbsp;&nbsp;&nbsp; April 28, 2006</p>
  
  <p class=MsoNormal style='text-indent:3.0in'>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;Mandy
  M. Pope</p>
  
  <p class=MsoNormal style='margin-left:3.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;
  Chief Accounting Officer </p>
  
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  <p class=MsoFooter align=center style='text-align:center; margin-top:0; margin-bottom:0'>
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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": "06809158"}, "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):  April 27, 2006
  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 April 27, 2006, Parkway
  Properties, Inc. (the "Company") entered into a First Amended and Restated Credit
  Agreement with a consortium of 10 banks with Wachovia Bank, National
  Association as Agent; PNC Bank, National Association as Syndication Agent; Bank
  of America, N.A., JPMorgan Chase Bank, N.A, and Wells Fargo Bank, National
  Association as Co-Documentation Agents; and other banks as participants.  The
  First Amended and Restated Credit Agreement provides for a $200 million
  unsecured credit facility (the "$200 million line"), which is comprised of a
  $60 million term loan maturing in April 2011 and a $140 million revolving
  credit facility maturing in April 2010 with a one-year extension option
  available at maturity.  The $200 million line replaces the existing $190
  million unsecured revolving credit facility, which was to mature February
  2007.  The interest rate on the $200 million line is based on LIBOR plus 80 to
  130 basis points, depending upon overall Company leverage (with the current
  rate set at 115 basis points which is equivalent to a total rate of 6.14% at
  April 27, 2006).  The Company paid a facility fee of $200,000 (10 basis points)
  and origination fees of $688,000 (34.4 basis points) upon closing of the loan
  agreement.  Additionally, the Company pays an annual administration fee of
  $35,000 and fees on the unused portion of the revolver ranging between 12.5 and
  20 basis points based upon overall Company leverage (with the current rate set
  at 12.5 basis points).  The increased size of the line affords the Company
  greater financial flexibility and capacity while accommodating the Company's
  growth.
  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)      First
  Amended and Restated Credit Agreement by and among Parkway Properties LP, a
  Delaware limited partnership; Wachovia Bank, National Association, as Agent;
  PNC Bank, National Association, as Syndication Agent; Bank of America, N.A.,
  JPMorgan Chase Bank, N.A., and Wells Fargo Bank, National Association, as
  Co-Documentation Agents and the Lenders dated April 27, 2006.
  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 28, 2006
  PARKWAY PROPERTIES, INC.
  By: /
  s/ Mandy M. Pope
  Mandy
  M. Pope
  Chief Accounting Officer
  Page 2 of 3 Pages