Cousins Properties (NYSE: CUZ) is a self-administered and self-managed real estate investment trust, which actively invest in office, multi-family, retail, industrial and land development projects.
Cousins Properties Incorporated is a real estate development company with experience in the development, leasing, financing and management of office, retail and industrial properties in addition to residential land development and the development and sale of multi-family products. As of March 31, 2009, the Company held interests directly or through joint ventures in 23 office properties totaling 7.5 million square feet, 14 retail properties totaling 4.7 million square feet, and four industrial properties totaling 2.0 million square feet. These interests include office and retail projects under development totaling 1.8 million square feet. The Company also owns one substantially completed multi-family project containing 124 for-sale units. The Company had 25 residential communities in various stages of development directly or through joint ventures in which approximately 10,100 lots remain to be developed and/or sold. In addition, the Company owned directly or through joint ventures approximately 9,500 acres of land.
The Company’s strategy is to produce stockholder returns by creating value through the development of high quality, well-located office, retail, multi-family and residential properties. The Company has developed substantially all of the real estate assets it owns. A key element in the Company’s strategy is to actively manage its portfolio of investment properties and, at the appropriate times, to engage in timely and strategic recycling of its capital, either by sales, financings or through contributions to ventures in which the Company retains an ownership interest. These transactions seek to maximize the value of the assets the Company has created, generate capital for additional development properties and return a portion of the value created to the Company’s stockholders.
Source: Cousins Properties Inc. May 7th, 2009 10-Q