Cousins Drops $1.1B On Texas Office Portfolio

Law360, Dallas (July 29, 2013, 7:50 PM EDT) -- Cousins Properties Inc. will use cash from a stock offering to fund its $1.1 billion purchase of 11 office buildings in Houston and Fort Worth, Texas, from a joint venture operated by Crescent Real Estate Holdings LLC, the company announced Monday.

Cousins said JPMorgan Chase and Bank of America Merrill Lynch are jointly underwriting its offering of up to 69 million shares of common stock. It will also sell off noncore assets and use mortgage financing to help fund the cash purchase of the office properties....
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