Cousins Properties To Take Finance Charge
Stock quotes in this article:
CUZ
ATLANTA (AP) Real estate investment trust Cousins Properties Inc. said Monday it will take a third-quarter impairment charge related to a joint venture interest in an office tower in Atlanta.
The office tower, Terminus 200 in the Buckhead section of Atlanta, was completed in August. The 565,000 square foot tower has a 50,000 square foot lease and the venture is talking to several other potential clients but has not executed any additional leases. Cousins Properties will take a charge of $39 million, or 74 cents per share. That includes its full $21 million investment in the venture, a $17.5 million loan repayment guarantee and obligations under the existing lease.- Loading Comments...
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