CUZ

Cousins Properties Incorporated is a real estate investment trust focused on developing, acquiring, leasing, and managing Class A office properties in Sun Belt markets. The REIT owns and operates office buildings in Atlanta, Austin, Charlotte, Dallas, Phoenix, Tampa, and other high-growth southern U.S. markets. Cousins provides office space to corporate and professional services tenants seeking premium buildings in vibrant urban and suburban locations. The company generates revenues from rental income from office tenants. Founded in 1958 and headquartered in Atlanta, Georgia, Cousins has built expertise in Sun Belt office markets through cycles of development, acquisitions, and portfolio management. The REIT merged with Tier REIT in 2018, expanding its Sun Belt office portfolio. Cousins faces severe challenges from structural office demand changes following COVID-19, including remote work adoption, reduced office space requirements per employee, and tenant downsizing. The company has experienced declining occupancy, rental rate pressures, and valuation concerns affecting the broader office sector. Cousins benefits from higher-quality Sun Belt properties in growth markets versus legacy gateway cities. The REIT is working to lease space, reposition assets, and adapt to dramatically changed office market fundamentals.