Cousins Properties Incorporated · NYSE:CUZ

Cousins Properties — Corporate Update (August 2014)

13 slides from Cousins Properties's corporate update, Aug 5, 2014

  1. Slide 1: Strategic Portfolio Repositioning Update August 2014

    STRATEGIC PORTFOLIO REPOSITIONING UPDATE AUGUST 2014

  2. Slide 2: Disclaimer

    DISCLAIMER 2 Certain matters discussed in this presentation are “forward-looking statements” within the meaning of the federal securities laws and are subject to uncertainties and risk. These include, but are not limited to, the availability and terms of capital and financing; the ability to refinan

  3. Slide 3: Continued Progress with Strategic Portfolio Repositioning

    Execute Attractive Funding StrategySource Compelling Investments CONTINUED PROGRESS WITH STRATEGIC PORTFOLIO REPOSITIONING 777 Main (Fort Worth) • Limited platform growth opportunities in Fort Worth • Non-core market • Anticipate marketing after Labor Day Publix Portfolio (TN and FL) • Five Publix a

  4. Slide 4: Strategic Acquisition of Northpark Town Center

    STRATEGIC ACQUISITION OF NORTHPARK TOWN CENTER Trophy Asset • Highest rents in Central Perimeter(1) • Average historical occupancy 5% higher than competitive set since 2007(2) • Only office building in Central Perimeter with direct MARTA access • Outstanding access and visibility to GA 400 Value Cre

  5. Slide 5: Northpark Town Center Overview

    NORTHPARK TOWN CENTER OVERVIEW RSF: 1,527,720 SF (3 buildings) Location: Atlanta, GA (Central Perimeter) Year Built: 1986, 1989, 1998 Projected % Leased at Closing: 87% In-Place Rents: 12% below market(1) Weighted Avg. Lease Term: 53 Months Parking Ratio: 3.0/1,000 RSF Investment: $348MM / $228 PSF(

  6. Slide 6: Central Perimeter Submarket

    Strongest Office Demand Among Atlanta Submarkets • 2.7 MM SF of net absorption 2012-2013(1) • 48% of Atlanta’s total net absorption 2012-2013(1) Stage Set for Rent Growth • Competitive set 91% leased(1) • Limited blocks of contiguous space • No speculative construction underway • Minimum of 14% rent

  7. Slide 7: Central Perimeter Submarket

    CENTRAL PERIMETER SUBMARKET Northpark Town Center 1,527,720 SF 87%(1) $31.00 psf(2) Perimeter Summit 1,353,692 SF 98%(1) $30.50 psf(1) Three Ravinia 813,145 SF 94%(1) $28.00 psf(1) Concourse V 687,107 SF 91%(1) $28.75 psf(1) Concourse VI 697,400 SF 87%(1) $28.75 psf(1) Class-A Competitive Set 1 Perc

  8. Slide 8: Strategic Acquisition of Fifth Third Center

    STRATEGIC ACQUISITION OF FIFTH THIRD CENTER Trophy Asset • Tryon Street address, across from Bank of America Corporate Center • Highest parking ratio in Uptown Charlotte • Home of The Capital Grille • 9-year weighted average remaining lease term Value Creation Opportunities • 82% leased with immedia

  9. Slide 9: Fifth Third Center Overview

    FIFTH THIRD CENTER OVERVIEW RSF: 697,817 SF Location: Charlotte, NC (Uptown) Year Built: 1997 Projected % Leased at Closing: 82% In-Place Rents: 5% below market(1) Weighted Avg. Lease Term: 9 Years Parking Ratio: 1.5/1,000 RSF Investment: $215MM / $308 PSF(2) Cash Yield: 6.0% GAAP Yield : 7.1%(3) St

  10. Slide 10: Uptown Charlotte Submarket

    UPTOWN CHARLOTTE SUBMARKET Leading Charlotte Submarket • Largest submarket in Charlotte at 23 MM SF(1) • Since 2000, Uptown Class-A occupancy of 93% compared to 89% for Charlotte MSA(1) • Uptown employment has jumped 23% since 2010(2) Stage Set for Rent Growth • Class-A 90% leased, competitive set 9

  11. Slide 11: Uptown Charlotte Submarket

    UPTOWN CHARLOTTE SUBMARKET Fifth Third Center 697,817 SF 82%(1) $30.00 psf(2) One Wells Fargo Center 985,315 SF 98%(1) $32.00 psf(1) Duke Energy Center 1,300,000 SF 100%(1) N/A Hearst Tower 1,097,257 SF 92%(1) $32.00 psf(1) B of A Corp Center 1,143,752 SF 100%(1) N/A Class-A Competitive Set 1. Perce

  12. Slide 12: Portfolio Impact

    PORTFOLIO IMPACT Houston 40% Austin 6% Dallas 7% Atlanta 38% Charlotte 9% Houston 40% Austin 3% Dallas 7% Atlanta 35% Charlotte 4% Fort Worth 7% Other 4% Pro forma(3) Current(2) 1. Weighted for Cousins’ Ownership. 2. As of 6/30/14, per Supplement available on CousinsProperties.com. 3. Assuming the a

  13. Slide 13: REIT World Property Tour and Cocktail Property Tour

    REIT WORLD PROPERTY TOUR AND COCKTAIL PROPERTY TOUR  November 4, 2014  Atlanta, GA  Hosted with Highwoods Properties  Highwoods in the Morning (10:00 am – 1:30 pm) Cousins in the Afternoon (1:30 pm – 4:30 pm)  Northpark Town Center, Terminus, Promenade  Formal Invitation to Follow COCKTAILS 

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