Cousins Properties Acquires Lifestyle Office Property in Uptown Dallas

Rhea-AI Summary

Cousins Properties (NYSE: CUZ) has acquired The Link, a lifestyle office property in Uptown Dallas, for $218 million. The 292,000 square foot property, built in 2021, boasts a 93.6% occupancy rate with an average lease term exceeding 9 years.

The acquisition will be funded through proceeds from Cousins' unsecured senior note offering, ATM program common shares, and potential future asset dispositions. This purchase marks over $1 billion in lifestyle office property acquisitions by Cousins in the past nine months, demonstrating the company's strategic expansion in prime markets.

Positive

• Strategic acquisition of 292,000 sq ft property in prime Uptown Dallas location
• High occupancy rate of 93.6% with long-term leases averaging over 9 years
• Property is relatively new, built in 2021, reducing maintenance costs
• Immediately accretive to earnings
• Demonstrates strong balance sheet with over $1B in acquisitions in past 9 months

Negative

• Significant capital outlay of $218 million
• Potential dilution from ATM share issuance
• Dependency on future asset dispositions for funding

News Market Reaction

-2.10%

1 alert

-2.10% News Effect

On the day this news was published, CUZ declined 2.10%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

ATLANTA, July 31, 2025 /PRNewswire/ -- Cousins Properties (NYSE: CUZ) announced today that it has acquired The Link, a 292,000 square foot lifestyle office property in Dallas, for $218 million.  Located in the Uptown submarket of Dallas, the Link was built in 2021 and is currently 93.6% leased with a weighted average lease term of over nine years.

The acquisition will be funded with a combination of excess proceeds from Cousins' unsecured senior note offering during the second quarter as well as the settlement of common shares previously issued on a forward basis under the Company's ATM program and/or potential future asset dispositions.

"We are excited to grow our presence in Dallas, and particularly the dynamic Uptown submarket, with the acquisition of The Link," said Colin Connolly, President and Chief Executive Officer of Cousins Properties.  "With our strong balance sheet and financial flexibility, we have accretively acquired over $1 billion of lifestyle office properties in the past nine months.  The acquisition of The Link offers another compelling growth opportunity that is immediately accretive to earnings while enhancing our portfolio and geographic concentration."  

Please refer to the Investor Relations page of Cousins' website for a presentation with additional information on the transaction discussed in this release.

About Cousins Properties

Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing, and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets, and opportunistic investments. For more information, please visit www.cousins.com. 

CONTACT:                                                               
Roni Imbeaux
Vice President, Finance and Investor Relations
404-407-1104
rimbeaux@cousins.com

View original content:https://www.prnewswire.com/news-releases/cousins-properties-acquires-lifestyle-office-property-in-uptown-dallas-302519075.html

SOURCE Cousins Properties

FAQ

How much did Cousins Properties (CUZ) pay for The Link in Dallas?

Cousins Properties paid $218 million for The Link office property in Uptown Dallas.

What is the current occupancy rate of The Link property acquired by CUZ?

The Link property has a 93.6% occupancy rate with a weighted average lease term of over nine years.

How is Cousins Properties funding The Link acquisition?

The acquisition is being funded through a combination of proceeds from unsecured senior note offering, settlement of ATM program common shares, and potential future asset dispositions.

How much has Cousins Properties invested in lifestyle office properties recently?

Cousins Properties has acquired over $1 billion worth of lifestyle office properties in the past nine months.

What is the size of The Link office property in Dallas?

The Link is a 292,000 square foot lifestyle office property located in the Uptown submarket of Dallas.