Wednesday, August 14, 2013

Cousins Properties Announces Sale of Avenue Murfreesboro in Metro Nashville, TN

  
The Avenue Murfreesboro shopping center, 27 miles south of downtown Nashville, TN


ATLANTA, GA -- Cousins Properties Incorporated (NYSE: CUZ) announced today the sale of The Avenue Murfreesboro for $163 million.

The project, a 752,000-square-foot open-air retail center in suburban Nashville, Tennessee, was owned through a 50/50 joint venture between Cousins and Faison Enterprises.

Cousins’ portion of the net proceeds is approximately $36 million. These funds will be used to partially fund its pending $1.1 billion Texas office portfolio acquisition, currently scheduled to close in mid-September.

Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA primarily invests in Class-A office towers located in high growth Sunbelt markets, with a focus on Georgia, Texas and North Carolina.

 Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets and opportunistic investments.

For more information, please visit www.cousinsproperties.com
.
Faison Enterprises, Inc. is a privately-held real estate company with a diversified product portfolio that includes retail, commercial and residential project development, management and acquisitions services.

With more than 40 years in the business and holdings of approximately $750,000,000, the Charlotte NC based company manages and develops properties throughout the South and Mid-Atlantic.

 For more information, visit www.faison.com.

For a complete copy of the company’s news release, please contact:

Cousins Properties Inc.
Cameron Golden, 404-407-1984
Vice President of Investor Relations and Corporate Communications

No comments:

Post a Comment