Property sales and solid leasing activity buoyed Atlanta-based real estate firm Cousins Properties in the fourth quarter, the company said Wednesday.
Cousins is a bellwether for Atlanta’s real estate community as a key landlord, though the company has scaled back its metro holdings in recent years.
The real estate investment trust said it sold more than $250 million in operating assets and $26 million in land during the final 90 days of 2012. Cousins’ office and retail properties it continues to hold finished fourth quarter 2012 at 91 percent and 90 percent leased, respectively.
Cousins reported $14.2 million in funds from operations, an industry performance measurement, compared to a loss of $110.2 million in the quarter ended December 2011.
Last week, Cousins acquired a Houston office tower and completed a complex transaction involving Buckhead’s Terminus 100 and 200 buildings that resulted in the company holding 50 percent interests in both skyscrapers.
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