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Business

Cousins Properties to sell more stock

By
March 5, 2014

Atlanta-based real estate investment trust Cousins Properties plans to raise about $100 million through a sale of common stock as it seeks to redeem certain preferred shares.

Cousins said Wednesday it plans to sell 8.7 million common shares. Cousins stock closed Wednesday at $11.59 per share. Wells Fargo Securities will underwrite the offering, Cousins said in a news release.

The company said any remaining proceeds from the stock sale “will be used for general corporate purposes,” which could include investments in new office properties and debt repayment.

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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