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Cousins Properties Acquires Lifestyle Office Property in Uptown Dallas
Prnewswireยท 2025-07-31 20:15
Acquisition Details - Cousins Properties has acquired The Link, a 292,000 square foot lifestyle office property in Dallas, for $218 million [1] - The property is located in the Uptown submarket of Dallas, built in 2021, and is currently 93.6% leased with a weighted average lease term of over nine years [1] Funding Strategy - The acquisition will be funded through excess proceeds from Cousins' unsecured senior note offering during the second quarter, along with the settlement of common shares previously issued under the Company's ATM program and/or potential future asset dispositions [2] Company Growth and Strategy - The CEO of Cousins Properties expressed excitement about expanding in Dallas, particularly in the Uptown submarket, highlighting the acquisition as a growth opportunity that is immediately accretive to earnings [3] - Over the past nine months, the company has acquired over $1 billion of lifestyle office properties, indicating a strong balance sheet and financial flexibility [3] Company Overview - Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT) based in Atlanta, GA, primarily investing in Class A office buildings in high growth Sun Belt markets [4] - Founded in 1958, the company focuses on creating shareholder value through expertise in development, acquisition, leasing, and management of high-quality real estate assets [4]