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| 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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