COUSINS PROPERTIES INC (CUZ)

Cousins Properties Incorporated is a Georgia corporation operating as a fully integrated, self-administered and self-managed real estate investment trust. It conducts substantially all of its business through Cousins Properties LP, of which it owns more than 99%, and which in turn wholly owns Cousins TRS Services LLC, a taxable entity that owns and manages its own real estate portfolio and performs certain real estate related services. The company develops, acquires, leases, manages and owns primarily Class A office properties and opportunistic mixed-use developments in the Sun Belt markets of the United States. Its strategy is to own the premier Sun Belt office portfolio through opportunistic acquisitions, selective developments and timely dispositions of non-core assets, while keeping a simple, flexible, low-leveraged balance sheet. Its common stock trades on the New York Stock Exchange under the symbol "CUZ."

Operations are conducted principally in a single office real estate segment, which is measured by geographic area. The focus markets are Atlanta, Austin, Tampa, Charlotte, Phoenix, Dallas and Nashville. In 2024 the company acquired Sail Tower in Downtown Austin (804,000 square feet) and Vantage South End in Charlotte (639,000 square feet). It also bought a 20% joint venture interest in Proscenium, a 525,000 square foot building in Midtown Atlanta, and acquired two mezzanine loans and a mortgage loan secured by the Saint Ann Court office property in Dallas. It started initial operations at Domain 9, a 338,000 square foot office development in Austin, and continued developing Neuhoff in Nashville, a 50%-owned joint venture mixed-use project with 450,000 square feet of office and retail space and 542 apartments. During the year it leased or renewed 2.0 million square feet of office space, raised second generation net rent per square foot by 8.5% on a cash basis, and increased same property net operating income by 4.8% on a cash basis. It also issued $500.0 million of 2034 senior unsecured notes, $400.0 million of 2032 senior unsecured notes and 15.5 million shares of common stock.

The company serves office tenants in its Sun Belt markets and also deals with buyers and sellers of properties. It aims to attract office users through resilient, efficient and healthy buildings, guided by standards such as EnergyStar, LEED, BOMA 360 and Fitwel, and it has participated in the GRESB assessment since 2016. Environmental laws governing land, water and hazardous substances apply to its properties, and it typically conducts Phase I and, as needed, Phase II environmental site assessments on properties it acquires or develops.

Cousins competes with other owners of similar properties in its markets on location, rental rates and sales prices, services, proximity to public transit, reputation, design, condition and resiliency of facilities, operating efficiency and amenities. It also competes with other real estate companies, financial institutions, pension funds, partnerships and individual investors for acquisitions, developments, sales and real estate debt. Its executive offices are at 3344 Peachtree Road NE in Atlanta, Georgia, with regional offices in Austin, Charlotte, Phoenix, Tampa and Dallas. As of December 31, 2024, it had 306 full-time employees.