Cousins Properties, Inc. raised $165.1 million in a stock sale April 12 that shows how one Atlanta-based real estate firm is waging its fight back from the recession.
Cousins intends to use the money from the stock sale to further its expansion into urban markets in Texas. Cousins also plans to redeem $74.8 million of preferred stock, according to Cousins filings with the Securities and Exchange Commission.
Cousins, a real estate investment trust, was formed in Atlanta in 1958 and more than two-thirds of its office holdings remain in Atlanta – 5.3 million square feet of the 7.6 million square feet of office space cited in its 2012 annual SEC filing. The remainder of the office space is located in Charlotte, Dallas, and Birmingham.
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