Cousins Properties Announces Closing of Orlando and Miami Dispositions
ATLANTA, Dec. 21, 2017 /PRNewswire/ -- Cousins Properties (NYSE: CUZ) announced today that it has completed the disposition of its Orlando office portfolio and its equity interest in its sole Miami asset.
The one million square foot Orlando portfolio, which consists of Bank of America Center, Citrus Center and One Orlando Centre, was sold in a single transaction to one purchaser for a gross price of $208.1 million. Cousins also sold its 20% interest in Courvoisier Center, a 343,000 square foot office property in Miami, to its joint venture partner for $33.9 million, which included its share of joint venture debt. In total, Cousins has generated approximately $558 million of gross proceeds from property dispositions during 2017.
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 towers located in high growth Sunbelt 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.cousinsproperties.com.
Vice President, Investor Relations
SOURCE Cousins Properties