Cousins Properties Acquires Lifestyle Office Property in Uptown Dallas
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.
Cousins Properties (NYSE: CUZ) ha acquisito The Link, un immobile per uffici in stile lifestyle situato a Uptown Dallas, per 218 milioni di dollari. La proprietà di 292.000 piedi quadrati, costruita nel 2021, vanta un tasso di occupazione del 93,6% con una durata media del contratto di locazione superiore a 9 anni.
L'acquisizione sarà finanziata attraverso i proventi dell'offerta di note senior non garantite di Cousins, il programma ATM per azioni ordinarie e potenziali future dismissioni di asset. Questo acquisto rappresenta oltre 1 miliardo di dollari in acquisizioni di immobili per uffici in stile lifestyle da parte di Cousins negli ultimi nove mesi, dimostrando l'espansione strategica dell'azienda nei mercati di primo piano.
Cousins Properties (NYSE: CUZ) ha adquirido The Link, una propiedad de oficinas estilo lifestyle en Uptown Dallas, por 218 millones de dólares. La propiedad de 292,000 pies cuadrados, construida en 2021, cuenta con una tasa de ocupación del 93.6% y un plazo promedio de arrendamiento que supera los 9 años.
La adquisición será financiada con los ingresos de la oferta de notas senior no garantizadas de Cousins, el programa ATM de acciones comunes y posibles futuras ventas de activos. Esta compra representa más de 1.000 millones de dólares en adquisiciones de propiedades de oficinas estilo lifestyle por parte de Cousins en los últimos nueve meses, demostrando la expansión estratégica de la empresa en mercados clave.
Cousins Properties (NYSE: CUZ)는 Uptown Dallas에 위치한 라이프스타일 오피스 부동산인 The Link를 2억 1,800만 달러에 인수했습니다. 2021년에 지어진 이 292,000평방피트 규모의 부동산은 93.6%의 점유율을 자랑하며 평균 임대 기간은 9년 이상입니다.
이번 인수는 Cousins의 무담보 선순위 채권 발행 수익, ATM 프로그램 보통주, 그리고 향후 자산 매각 가능성을 통해 자금을 조달할 예정입니다. 이번 매입으로 지난 9개월 동안 Cousins가 라이프스타일 오피스 부동산에 투자한 금액이 10억 달러를 넘어서 회사가 주요 시장에서 전략적으로 확장하고 있음을 보여줍니다.
Cousins Properties (NYSE: CUZ) a acquis The Link, une propriété de bureaux lifestyle située à Uptown Dallas, pour 218 millions de dollars. La propriété de 292 000 pieds carrés, construite en 2021, affiche un taux d’occupation de 93,6 % avec une durée moyenne des baux supérieure à 9 ans.
L’acquisition sera financée par les recettes de l’émission d’obligations senior non garanties de Cousins, le programme ATM d’actions ordinaires et d’éventuelles cessions d’actifs futures. Cet achat porte à plus de 1 milliard de dollars les acquisitions de propriétés de bureaux lifestyle réalisées par Cousins au cours des neuf derniers mois, démontrant l’expansion stratégique de l’entreprise sur des marchés clés.
Cousins Properties (NYSE: CUZ) hat The Link, eine Lifestyle-Büroimmobilie in Uptown Dallas, für 218 Millionen US-Dollar erworben. Die 292.000 Quadratfuß große Immobilie, erbaut im Jahr 2021, weist eine Belegungsrate von 93,6 % auf und hat eine durchschnittliche Mietvertragslaufzeit von über 9 Jahren.
Die Finanzierung der Akquisition erfolgt durch Erlöse aus der Emission von unbesicherten Senior Notes von Cousins, das ATM-Programm für Stammaktien sowie mögliche zukünftige Vermögensveräußerungen. Dieser Kauf markiert über 1 Milliarde US-Dollar an Akquisitionen von Lifestyle-Büroimmobilien durch Cousins in den letzten neun Monaten und unterstreicht die strategische Expansion des Unternehmens in erstklassigen Märkten.
- 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
- Significant capital outlay of $218 million
- Potential dilution from ATM share issuance
- Dependency on future asset dispositions for funding
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
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
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?
What is the current occupancy rate of The Link property acquired by CUZ?
How is Cousins Properties funding The Link acquisition?
How much has Cousins Properties invested in lifestyle office properties recently?
What is the size of The Link office property in Dallas?
