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Cousins Properties Inc (CUZ) delivers timely updates on its Class A office portfolio and Sun Belt market strategy through this centralized news hub. Investors and stakeholders gain access to official press releases, financial disclosures, and operational developments from the fully integrated REIT.
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Cousins Properties (NYSE:CUZ) announced the pricing of $400 million in senior unsecured notes due 2032 at a rate of 5.375%. The offering, expected to close on December 17, 2024, will primarily fund the acquisition of Sail Tower, an 804,000 square foot office property in Austin. The remaining proceeds will be used to repay credit facility borrowings and for general corporate purposes. If the Sail Tower acquisition isn't completed, the entire proceeds will be directed toward general corporate purposes, including office property acquisitions, development, and debt repayment. The notes will be fully guaranteed by the Company on a senior unsecured basis.
Cousins Properties (NYSE: CUZ) has announced the pricing of an underwritten public offering of 9,500,000 shares of its common stock. The offering is expected to generate gross proceeds of approximately $284 million before underwriting discounts and estimated offering expenses. The closing is anticipated for December 12, 2024, with J.P. Morgan serving as the sole book-running manager. The offering is being made through a prospectus supplement to the Company's prospectus dated May 8, 2024, as part of its effective shelf registration statement.
Cousins Properties (NYSE: CUZ) has announced a public offering of 9,500,000 shares of common stock. The company plans to use the net proceeds primarily to fund the purchase of an office property in Downtown Austin. If the acquisition doesn't materialize, the funds will be allocated to general corporate purposes, including office property acquisitions and development, opportunistic investments, and debt repayment.
J.P. Morgan will act as the sole book-running manager for the offering, which will be conducted under the company's effective shelf registration statement dated May 8, 2024.
Cousins Properties (NYSE: CUZ) has announced plans to acquire Sail Tower, an 804,000 square foot trophy lifestyle office property in Downtown Austin, for $521.8 million. The transaction is expected to close in December 2024. Located near the Second Street entertainment district, the property offers unobstructed views of Lady Bird Lake and is close to Cousins' existing 1.7 million square foot Downtown Austin portfolio.
Developed in 2022, Sail Tower is 100% leased to a Fortune 20 company (S&P: AA+) through 2038. The acquisition will enhance Cousins' lifestyle office portfolio and is expected to be immediately accretive to earnings.
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.
Cousins Properties (NYSE: CUZ) has priced a public offering of 6,000,000 shares of common stock, expecting to raise gross proceeds of approximately $188 million before underwriting discounts and offering expenses. The offering, managed by BofA Securities as the sole book-running manager, is scheduled to close on November 12, 2024. The offering is being made through a prospectus supplement to the Company's prospectus dated May 8, 2024, under its effective shelf registration statement.
Cousins Properties has announced a public offering of 6,000,000 shares of common stock. The company plans to use the net proceeds to partially fund the purchase of an office property in Charlotte, North Carolina. If the acquisition doesn't materialize, the funds will be allocated to general corporate purposes, including office property acquisitions, development, opportunistic investments, and debt repayment. BofA Securities will act as the sole book-running manager for the offering.
Cousins Properties (NYSE: CUZ) has announced plans to acquire Vantage South End, a 639,000 square foot lifestyle office property in Charlotte, for $328.5 million. The property consists of two office towers completed in 2021 and 2022, boasting a 97% occupancy rate and over nine-year weighted average lease term. Located in South End Charlotte, the property is situated near Cousins' existing RailYard property and South End Station development parcel. The transaction is expected to close in December, pending customary closing conditions.
Cousins Properties (NYSE: CUZ) announced the release of its third quarter 2024 financial results. The company will host a conference call on October 25, 2024 at 10:00 a.m. Eastern Time to discuss the results. Investors can access the earnings release and supplemental information through the company's website. A conference call replay will be available for seven days, and a webcast can be accessed through the Investor Relations section of the website.
Cousins Properties (NYSE:CUZ) has announced the dates for its third quarter 2024 earnings release and conference call. The company will release its Q3 2024 earnings after market close on Thursday, October 24, 2024. The earnings conference call is scheduled for Friday, October 25, 2024, at 10:00 a.m. Eastern Time.
Investors can access the live webcast through the company's website, www.cousins.com. A playback will be available shortly after the call until Friday, November 1, 2024. Financial information will be posted on the company's website promptly after the earnings release announcement, accessible through the 'Featured Reports,' 'SEC Filings,' and 'Supplemental Information' sections on the Investor Relations page.
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