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| Greenway Plaza, Houston, TX |
ATLANTA, GA --Cousins Properties Incorporated (the
“Company”) (NYSE: CUZ) today announced that it has commenced an underwritten
public offering of 60 million shares of its common stock. The underwriters are
expected to be granted a 30-day option to purchase up to an additional 9
million shares.
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| 777 Main Street office building, Fort Worth, TX |
The Company intends to use the net proceeds of the offering
to fund a portion of the purchase price (and related transaction expenses) of
the previously announced pending acquisition of a 5.3 million square foot Texas
office portfolio comprised of Greenway Plaza, a 10-building office
complex in Houston, Texas, and 777 Main Street, a Class A office tower
in Fort Worth, Texas, for a total purchase price of approximately $1.1 billion.
Any remaining proceeds will be used for general corporate
purposes, including the redemption of all or a portion of the Company’s Series
B Preferred Stock, the acquisition and development of office properties, other
opportunistic investments and the repayment of debt.
J.P. Morgan and BofA Merrill Lynch are acting as
joint-book-running managers for the offering.
For a complete copy of the company’s news release, please
contact:
Cousins Properties Incorporated
Cameron Golden, 404-407-1984
Vice President of Investor Relations and Corporate
Communications
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