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Cousins Properties ( (CUZ) ) has provided an update.
Cousins Properties announced it is under contract to purchase Sail Tower, an 804,000 square foot office property in Downtown Austin, for $521.8 million, with the transaction expected to close in December. The property, fully leased to a Fortune 20 company until 2038, will enhance Cousins’ Austin portfolio and is anticipated to be immediately accretive to earnings, reflecting Austin’s strong demand fundamentals.
More about Cousins Properties
Cousins Properties is a fully integrated, self-administered, and self-managed real estate investment trust (REIT) based in Atlanta, GA. Founded in 1958, the company primarily invests in Class A office buildings in high-growth Sun Belt markets, creating shareholder value through development, acquisition, leasing, and management of high-quality real estate assets. Cousins operates through its partnership, Cousins Properties LP, focusing on a strategy of trophy assets and opportunistic investments.
YTD Price Performance: 34.09%
Average Trading Volume: 1,116,324
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $4.9B
See more data about CUZ stock on TipRanks’ Stock Analysis page.
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