Cousins Properties Incorporated · NYSE:CUZ
Cousins Properties — Investor Presentation (November 2016)
20 slides from Cousins Properties's investor presentation, Nov 14, 2016
Slide 1: Investor Presentation November 2016
INVESTOR PRESENTATION November 2016 Simple Platform. Trophy Assets. Opportunistic Investments.
Slide 2: Table of Contents
Table of Contents Cousins Overview Post-Transactions 1 Cousins Strategic Objectives 2 Assemble Trophy Office Portfolio in High Growth Sun Belt Markets 3-5 Achieve Compelling Critical Mass in Leading Urban Submarkets 6-7 Command Premium Rents in Our Markets 8 Secure a Diversified Customer Base 9 Main
Slide 3: Cousins Overview Post-Transactions
Cousins Overview Post-Transactions Class A Office Portfolio » 34 first class assets1 » 14.6 million rentable square feet1 » 80% urban2 » Average 433,000 square feet per office asset3 » Average year built 19973 » 93% leased1 High Growth Sunbelt Markets » Atlanta » Austin » Charlotte » Orlando » Phoen
Slide 4: Cousins Strategic Objectives
Cousins Strategic Objectives Assemble trophy office portfolio in high growth Sun Belt markets Post Transactions: 14.6 mm square feet1 of Class A office assets in high growth urban Sun Belt markets Achieve compelling critical mass in leading urban submarkets Post Transactions: #1 Class A office owner
Slide 5: Assemble Trophy Office Portfolio in High Growth Sun Belt Markets
Assemble Trophy Office Portfolio in High Growth Sun Belt Markets Source: Q3 2016 Cousins filings. Promenade / Atlanta, GA 777,000 Sq. Ft.; 95% Leased Terminus / Atlanta, GA 1,226,000 Sq. Ft.; 91% Leased Fifth Third Center / Charlotte, NC 698,000 Sq. Ft.; 97% Leased Hayden Ferry Lakeside / Phoenix, A
Slide 6: Assemble Trophy Office Portfolio in High Growth Sun Belt Markets
Assemble Trophy Office Portfolio in High Growth Sun Belt Markets 4 Source: Q3 2016 Cousins filings. 816 Congress / Austin, TX 435,000 Sq. Ft.; 95% Leased 3344 Peachtree / Atlanta, GA 485,000 Sq. Ft.; 99% Leased Bank of America Center / Orlando, FL 421,000 Sq. Ft.; 91% Leased Northpark Town Center /
Slide 7: Assemble Trophy Office Portfolio in High Growth Sun Belt Markets
Assemble Trophy Office Portfolio in High Growth Sun Belt Markets1 1. Represents the combined categories of Cousins Portfolio Statistics and Legacy Parkway Portfolio Statistics as reported in 30-Sept-2016 Cousins filings at the company’s pro rata share; excludes mixed use assets, Cousins and Legacy P
Slide 8: Achieve Compelling Critical Mass in Leading Urban Submarkets
Achieve Compelling Critical Mass in Leading Urban Submarkets Atlanta - Buckhead Charlotte - Uptown Source: 3Q 2016 CoStar. Based on 100% of building square footage. Does not include owner occupied buildings. 21% Market Share of Class A Office #1 Class A Office Owner by Sq. Ft. 20% Market Share of Cl
Slide 9: Achieve Compelling Critical Mass in Leading Urban Submarkets
7 Austin - CBD Phoenix - Tempe 23% Market Share of Class A Office 28% Market Share of Class A Office #1 Class A Office Owner by Sq. Ft. #1 Class A Office Owner by Sq. Ft. Source: 3Q 2016 CoStar. Based on 100% of building square footage. Does not include owner occupied buildings. Achieve Compelling C
Slide 10: Command Premium Rents in Our Markets
$23.53 $25.56 $27.73 $20 $22 $24 $26 $28 $30 Orlando CBD Cousins CBD $28.04 $29.41 $41.50 $20 $25 $30 $35 $40 $45 Phoenix Tempe Cousins Tempe $25.81 $28.18 $31.66 $20 $25 $30 $35 $40 $45 Tampa Bay Westshore Cousins Westshore $37.77 $48.23 $51.49 $25 $30 $35 $40 $45 $50 $55 $60 Austin CBD Cousins CBD
Slide 11: Secure a Diversified Customer Base
Secure a Diversified Customer Base 9 Customers by Industry1 Source: Cousins and Parkway filings. Note: Does not include NCR or Dimensional Fund Advisors developments. 1. Represents combined office customers of Cousins and Parkway as a percentage of annual contractual rent as reported at 31-Dec-2015
Slide 12: Maintain a Conservative Balance Sheet Positioned for Growth
$566MM Maintain a Conservative Balance Sheet Positioned for Growth Near-Term Refinance Opportunities Wtd. Avg. Interest Rate 5.6% 4.4%3.0% 6.1% 4.3% 3.8% Net Debt / EBITDA1 Debt Maturity Schedule (mm)5 1. HIW / BXP / KRC / SNL Office Index leverage represents net debt divided by latest quarter annua
Slide 13: Appendix
Appendix 11
Slide 14: Atlanta Snapshot
Financial Serv ices 19% Healthcare Serv ices 17% Technology 13% Consumer Goods & Serv ices 8% Real Estate 8% Legal Serv ices 8% Insurance 6% Prof essional Serv ices 5% Other 16% Atlanta Snapshot Office Portfolio Composition1 Properties 13 Total Square Feet 5,980,000 % Leased 92% % Urban2 75% Average
Slide 15: Austin Snapshot
Legal Serv ices 39% Financial Serv ices 17% Prof essional Serv ices 10% Energy 7% Technology 6% Gov ernment 4% Consumer Goods & Serv ices 4% Marketing & Media 3% Other 9% Austin Snapshot Office Portfolio Composition1 Properties 5 Total Square Feet 1,906,000 % Leased 97% % Urban2 98% Average Year Bui
Slide 16: Charlotte Snapshot
Financial Serv ices 40% Legal Serv ices 22% Marketing & Media 16% Consumer Goods & Serv ices 13% Prof essional Serv ices 5% Energy 1% Insurance 1% Gov ernment 1% Other 2% Charlotte Snapshot Office Portfolio Composition1 Properties 4 Total Square Feet 2,588,000 % Leased 99% % Urban2 100% Average Year
Slide 17: Orlando Snapshot
Financial Serv ices 22% Prof essional Serv ices 12% Construction & Design 8% Gov ernment 7% Non-Prof it 4% Real Estate 3% Consumer Goods & Serv ices 3% Other 7% Orlando Snapshot Office Portfolio Composition1 Properties 3 Total Square Feet 1,038,000 % Leased 87% % Urban2 100% Average Year Built 1983
Slide 18: Phoenix Snapshot
Transportation 21% Insurance 20% Consumer Goods & Serv ices 15% Marketing & Media 12% Financial Serv ices 10% Technology 9% Prof essional Serv ices 7% Construction & Design 3% Other 3% Phoenix Snapshot Office Portfolio Composition1 Properties 3 Total Square Feet 777,000 % Leased 97% % Urban2 100% Av
Slide 19: Tampa Snapshot
Healthcare Serv ices 19% Legal Serv ices 17% Financial Serv ices 14% Consumer Goods & Serv ices 13% Technology 9% Prof essional Serv ices 9% Manuf acturing 9% Construction & Design 4%Other 8% Tampa Snapshot Office Portfolio Composition1 Properties 3 Total Square Feet 1,681,000 % Leased 88% % Urban2
Slide 20: Contact Information and Disclaimer
Contact Information and Disclaimer Cautionary Note Regarding Forward-Looking Statements This document may include “forward-looking statements” within the meaning of federal and state securities laws and are subject to uncertainties and risks. Words such as “expects,” “anticipates,” “intends,” “plans
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