Cousins raises $661M in stock sale

Atlanta-based real estate firm Cousins Properties said Monday it received $661.3 million from a stock offering that comes as the company plans to acquire a portfolio of office buildings in Texas.

Cousins sold 60 million shares to the public at $10 each. Underwriters of the deal purchased an additional 9 million shares. Cousins said in a news release the net proceeds included certain costs associated with the sale.

The company announced last week 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.