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Business

Cousins Properties to raise $600M in stock offering

By
July 30, 2013

Atlanta-based Cousins Properties on Tuesday said it expects to generate gross proceeds of $600 million as part of a stock offering, with funds to be used in its planned acquisition of office buildings in Texas.

The real estate investment company priced the 60 million shares to be offered at $10 each, with the stock sale expected to close on or about Aug. 5, Cousins said in a news release. On Monday, Cousins announced its plan to purchase a $1.1 billion office building portfolio, including the 10-building Greenway Plaza complex in Houston and the 777 Main Street tower in Fort Worth.

Cousins shares closed down 30 cents Tuesday at $10.28.

About the Author

J. Scott Trubey is the senior editor over business, climate and environment coverage at The Atlanta Journal-Constitution. He previously served as a business reporter for the AJC covering banking, real estate and economic development. He joined the AJC in 2010.

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