Cousins continues portfolio repositioning with two new deals

Over the last ten days, Cousins Properties (CUZ +0.7%) has inked deals on two "trophy" assets. The Fifth Third Center is a 698K square foot office tower in Charlotte under contract for $215M, and Northpark Town Center is a 1.5M square foot office complex in the Central Perimeter submarket of Atlanta under contract for $348M.

The deals will be funded with the proceeds from the recent equity raise and the anticipated sale of other assets.

When the acquisitions/dispositions are complete, Cousins' portfolio will be located exclusively in five targeted Sunbelt markets.

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