Cousins Properties Incorporated · NYSE:CUZ
Cousins Properties — Corporate Update (July 2021)
8 slides from Cousins Properties's corporate update, Jul 29, 2021
Slide 1: Cousins
@ Cousins Oe on ig “eel July 29, 2021
Slide 2: Overview
OVERVIEW 1 ) 725 Ponce Acquisition 2 Neuhoff Development 3 One South Disposition = Premier Midtown office asset = Transformative mixed-use trophy _™ 1970s asset with significant lease- adjacent to the Atlanta Beltline asset in Nashville up risk and capex’requirements = Acquired 100% interest for = 5
Slide 3: 725 Ponce Acquisition
@ 725 PONCE ACQUISITION PREMIER MIDTOWN OFFICE ASSET ON THE ATLANTA BELTLINE Atlanta Beltline ao ACQUISITION PRI $300.2MM Irreplaceable location on the Atlanta Beltline adjacent to highly-successful Ponce City SIZE: Market mixed-use redevelopment 372K SF = In-place rents approximately 8% below marke
Slide 4: Neuhoff Development
@ NEUHOFF DEVELOPMENT TRANSFORMATIVE MIXED-USE TROPHY ASSET IN NASHVILLE and pedestrian bridge Proposed Oracle development CUZ INVESTMENT (AT 50% SHARE): $275MM SIZE: 388K SF Office 60K SF Retail 542 MF Units CONSTRUCTION START: 3Q2021 CONSTRUCTION COMPLETION: 4Q2022 - 1Q2024 ® Cousins 8} Downtown [
Slide 5: Neuhoff Development
NEUHOFF DEVELOPMENT ISFORMATIVE MIXED-USE TROPHY Phase Il Office 14 Stories Multifamily 10 Stories Office & Retail 194 Units : “ 14 Stories 280K SF & 11K SF Retail Multifamily 1 Stories 348 Units bs Adaptive Re-Uig. Retail 49K SF a Adaptive Re-Use Office 5 Stories 108K SF
Slide 6: One South Disposition
© ONE SOUTH DISPOSITION 1970s ASSET WITH SIGNIFICANT LEASE-UP RISK AND CAPEX REQUIREMENTS SALES PRICE: $271.5MM SIZE: 891K SF YEAR BUILT 1974 LEASED/WALT: 58%/6 Years 2Q21 ANNUALIZED GAAP YIELD": 4.2% = Older vintage asset acquired via the merger with TIER REIT in mid-2019 = Transaction eliminates s
Slide 7: Updated Portfolio Statistics
UPDATED PORTFOLIO STATISTICS TRANSACTIONS IMPROVE OPERATING METR NHANCE PORTFOLI( Market Concentrations E Charlotte Dallas Nashville a 3 10% So ATI OPERATING PORTFOLIO: AVERAGE ANNUAL LEASE EXPIRATIONS 2021-2023: 19.1MM SF 7% AVERAGE YEAR BUILTS: WALT: 2005 6 Years % OF PORTFOLIO LESS THAN 5 YEARS O
Slide 8: Investor relations contacts
GREGG ADZEMA EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER gadzema@cousins.com 404.407.1116 RONI IMBEAUX VICE PRESIDENT, FINANCE AND INVESTOR RELATIONS rimbeaux@cousins.com 404.407.1104 3344 Peachtree Road NE | Suite 1800 Atlanta, GA 30326 Certain matters contained in this report are “forward