Cousins Forms New Joint Venture; Recapitalizes Terminus 200 Signs 5-Floor Lease with Greenberg Traurig in Atlanta

ATLANTA, GA--Cousins Properties Incorporated (NYSE: CUZ) announced today that it has formed a new joint venture with a fund managed by Morgan Stanley Real Estate Investing that has successfully recapitalized Terminus 200 (top left photo)

. Terminus 200 is a 25-story, 564,000-square-foot tower of Class A office space, retail, and restaurant space located at the intersection of Peachtree and Piedmont roads in the Buckhead office submarket.

In conjunction with the new joint-venture, Cousins has restructured its existing construction loan, further strengthening the capital structure of Terminus 200; Wells Fargo Bank remains administrative agent on the loan.

Cousins also announced today that it has signed a lease for the top 5 floors with international law firm Greenberg Traurig, LLP at Terminus 200.

"We’re really pleased to have Greenberg Traurig choose Terminus 200. It is an extremely reputable firm and we look forward to having a long relationship with them," said Larry Gellerstedt, (middle right  photo)  Chief Executive Officer at Cousins. "Furthermore, we’re confident this restructuring will lead to the announcement of additional leases in the coming weeks."

John Klopp, Head of Americas Real Estate Investing at Morgan Stanley, commented, "We are delighted to have partnered with Cousins to complete a successful restructuring of the Terminus 200 project. As the lease signing today demonstrates, we believe the building is now well positioned to attract top-tier firms to one of Atlanta's leading business centers."

Greenberg Traurig, LLP is an international law firm with approximately 1,800 attorneys and governmental professionals in 32 locations in the United States, Europe and Asia. Greenberg Traurig’s more than 100 attorneys in Atlanta will occupy the top floors of Terminus 200. The move is scheduled for July 2011.

"We’re energized and excited to be moving to the heart of Buckhead, one of Atlanta’s strongest business centers," said Ernest L. Greer, managing shareholder of Greenberg Traurig’s Atlanta office. "As we continue to grow, our new space will reflect our firm’s business model and unique culture and will positively impact the relationships among our clients, attorneys and staff."

Terminus 200, which has achieved Gold-level LEED certification, is the newest phase of the 10-acre Terminus development. The development includes the 94 percent leased, 656,000-square-foot Terminus 100 office building and 10 Terminus Place, the first Terminus residential tower.

Contact: Cousins Properties Incorporated, Cameron Golden, 404-407-1984, Director of Investor Relations/Corporate Communications
camerongolden@cousinsproperties.com, http://www.cousinsproperties.com/