Tuesday, August 5, 2014

Cousins Properties Continues Strategic Portfolio Repositioning


Larry Gellerstedt
ATLANTA, GA, Aug. 5, 2014 --Cousins Properties Incorporated (NYSE: CUZ) announced today several transactions which continue to drive significant progress with its strategic portfolio repositioning plan.

Over the last ten days, the Company has signed definitive agreements to acquire two trophy office assets in targeted submarkets within Charlotte, NC and Atlanta, GA.

Fifth Third Center, a 698,000 square foot office tower in the Uptown submarket of Charlotte is under contract to purchase for a gross price of $215 million.

Northpark Town Center, a 1.5 million-square-foot office complex in the Central Perimeter submarket of Atlanta is under contract to purchase for a gross price of $348 million.

These acquisitions will be funded with proceeds from the Company's recently completed common equity offering, and the anticipated sale or joint venture of certain assets.

A detailed update of the Company's Strategic Portfolio Repositioning, as well as an overview on the acquisitions, can be found on Cousins' website: www.cousinsproperties.com.

"When these transactions are complete, our property portfolio will be located exclusively in our five targeted Sunbelt markets," said Larry Gellerstedt, President and Chief Executive Officer of Cousins. 

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"We will have a portfolio of unsurpassed quality in our markets, supported by an exceptionally strong balance sheet that we believe is ready for whatever lies ahead."

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

Cousins Properties Incorporated
Marli Quesinberry, 404-407-1898
Director of Investor Relations and Corporate Communications

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