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Sign in Sign up for a FREE subscriptionCousins Properties, TIER REIT merge
Cousins Properties and TIER REIT have merged, creating an office REIT with a combined equity market capitalization of about $5.9 billion and a total market capitalization of approximately $7.8 billion.
The transaction will create a class A office REIT with a combined portfolio of more than 21 million square feet located across the Sun Belt.
“The combination of these two highly complementary companies creates the pre-eminent Sun Belt office REIT with a best-in-class balance sheet. The company will own an unmatched portfolio of trophy office properties in the premier submarkets of Atlanta, Austin, Charlotte, Dallas, Phoenix and Tampa,” said Colin Connolly, president and CEO of Cousins. “In addition, the company will be uniquely positioned to drive superior value for shareholders through its highly pre-leased existing development pipeline and well-located strategic land holdings for future development.”
Larry Gellersted, Cousins’ executive chairman, will
