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by | Mar 29, 2018 | Tellima

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The Bank of America tower in Atlanta was developed by Cousins Properties and sold in 2006 for $436 million. In 2012, it sold at foreclosure for $235 million

Cousins Properties Incorporated is a publicly traded real estate investment trust (REIT) that invests in office buildings in Atlanta, Charlotte, Austin, Phoenix, Tampa, and Chapel Hill, North Carolina.[1] The company has developed notable properties including CNN Center, Omni Coliseum, 191 Peachtree Tower, and Emory Point in Atlanta.

As of December 31, 2019, the company owned wholly or through joint ventures 38 properties comprising 21,767,000 square feet.[1]

History

The company was founded in 1958 by Tom Cousins.[2]

In 1962, the company became a public company via an initial public offering.[2]

In 1965, the company built an office building in downtown Atlanta.[2]

In the 1970s, the company expanded into regional malls, real estate finance, and insurance but pared back after the economy softened.[2]

In 1987, Tom Cousins formed the Cousins Foundation and funded it with stock in the company.[3]

In 2002, Thomas Cousins retired from his position as CEO, but remained chairman of the board of directors until the end of 2006, at which time he retired.[4] R. Dary Stone also stepped down from the president and COO positions in 2002.[5][6]

In 2004, the company partnered with Jim Wilson and Associates, Inc. to develop The Avenue at Carriage Crossing.[7]

In 2016, the company acquired Parkway Properties and spun off its Houston assets into Parkway, Inc.[8][9]

References

  1. ^ a b c "Cousins Properties Incorporated 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ a b c d Wotapka, Dawn (May 26, 2017). "Cousins Properties Refocusing on Urban Properties". National Association of Real Estate Investment Trusts.
  3. ^ Lufrano, Sonny (March 5, 2001). "Tom Cousins builds dynasty from the heart". American City Business Journals.
  4. ^ "Thomas Cousins set to retire". American City Business Journals. November 16, 2006.
  5. ^ Starkman, Dean (January 8, 2002). "Cousins Properties' Stone to Step Aside To Take Post With Operating in Texas". The Wall Street Journal.
  6. ^ Miller, Jessica (January 22, 2002). "President of Cousins Properties steps down". National Real Estate Investor.
  7. ^ Aldinger, Jane (March 7, 2004). "Cousins joins in Collierville mall venture". American City Business Journals.
  8. ^ "Cousins Closes Merger with Parkway and Prepares to Spin Off Combined Company's Houston-Based Assets" (Press release). PR Newswire. October 6, 2016.
  9. ^ "Cousins Completes Spin-Off of Parkway, Inc" (Press release). PR Newswire. October 6, 2016.

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