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.
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