Cousins Properties Closes Vantage South End Acquisition in Charlotte

Rhea-AI Summary

Cousins Properties (NYSE: CUZ) has completed the acquisition of Vantage South End, a lifestyle office property located in Charlotte, North Carolina. The transaction, which was previously announced, is valued at $328.5 million. The acquired property encompasses 639,000 square feet of office space.

Positive

• Strategic acquisition of a large-scale office property (639,000 sq ft)
• Expansion in the Charlotte market, a key growth region
• Significant portfolio addition with $328.5M investment

Negative

• Substantial capital expenditure requiring significant financial commitment
• Increased exposure to office real estate market amid current market uncertainties

News Market Reaction

-0.52%

1 alert

-0.52% News Effect

On the day this news was published, CUZ declined 0.52%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

ATLANTA, Dec. 4, 2024 /PRNewswire/ -- Cousins Properties (NYSE: CUZ) announced today that it has completed its previously announced acquisition of Vantage South End, a 639,000 square foot lifestyle office property in Charlotte, North Carolina, for $328.5 million. 

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-closes-vantage-south-end-acquisition-in-charlotte-302322783.html

SOURCE Cousins Properties

FAQ

How much did Cousins Properties (CUZ) pay for Vantage South End?

Cousins Properties paid $328.5 million for the Vantage South End property acquisition.

What is the size of the Vantage South End property acquired by CUZ?

The Vantage South End property is 639,000 square feet in size.

Where is the Vantage South End property acquired by Cousins Properties located?

The Vantage South End property is located in Charlotte, North Carolina.

When did Cousins Properties complete the Vantage South End acquisition?

Cousins Properties completed the Vantage South End acquisition on December 4, 2024.