ATLANTA--Cousins Properties Incorporated (NYSE:CUZ): Cousins Properties Incorporated (NYSE:CUZ) today reported its results of operations for the quarter ended December 31, 2011. “Cousins had a very strong finish to the year with solid operating results, significant leasing momentum, the sale of our remaining industrial buildings, and an attractive value creation opportunity in Promenade,” said Larry Gellerstedt (top right photo), CEO of Cousins.
“Consistent with our strategy to simplify our platform, we have made the decision to more aggressively monetize our land portfolio. We intend to recycle this capital into our core businesses of office, retail and opportunistic development.”
Highlights
- Funds From Operations (FFO), before non-cash impairment charges, was $0.16 per share.
- Purchased Promenade, a 775,000-square-foot Class A office building in midtown Atlanta.
- Sold remaining operating industrial properties.
- Implemented an aggressive strategy to monetize the land portfolio.
For a complete copy of the company’s news release and statistics, please contact:
Cousins Properties Incorporated
Gregg D. Adzema, 404-407-1116
Executive Vice President and Chief Financial Officer
Cameron Golden, 404-407-1984
Director of Investor Relations and Corporate Communications
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