Cousins Properties Inc (NYSE: CUZ)

Cousins Properties Incorporated is a fully integrated, self administered, and self managed real estate investment trust that focuses on the acquisition, development, leasing, management, and ownership of Class A office properties and mixed use developments.

The company conducts substantially all of its business through its operating partnership, Consolidated CPLP, in which it holds more than 99 percent ownership.

Its portfolio is concentrated in the Sun Belt region of the United States, with a particular emphasis on lifestyle office properties in markets such as Atlanta, Austin, Charlotte, Tampa, Phoenix, Dallas, and Nashville.

As of the end of 2025, the company had leased approximately 2,100,000 square feet of office space, including 1,200,000 square feet of new and expansion leases, and reported a stabilized office portfolio leased percentage of 90.7%.

The firm also continues to advance development projects, such as the Domain 9 office building in Austin and the Neuhoff mixed use project in Nashville, which is jointly owned and expected to encompass 450,000 square feet of office and retail space alongside 542 residential units.

The company generates revenue primarily from leasing office space to tenants, collecting base rent and expense reimbursements, and from property management fees and related services provided through its taxable subsidiary, CTRS.

In addition, the firm earns interest income on certain loan investments, such as mortgage and mezzanine loans secured by real estate assets, and on financing extended to joint venture partners.

Revenues are also recognized from the occasional sale of non core properties or other assets, although leasing activity remains the dominant source of income.

The company operates through the following segments:

• Office Real Estate: This segment encompasses the acquisition, development, leasing, management, and ownership of Class A office buildings and mixed use projects focused on lifestyle office properties in markets such as Atlanta, Austin, Charlotte, Tampa, Phoenix, Dallas, and Nashville.

• The segment also includes the taxable subsidiary that provides property management, leasing, and advisory services to third party owners and to the company’s own portfolio.

• Through this segment, Cousins Properties pursues opportunities to acquire existing assets, develop new buildings, and reposition properties to meet evolving tenant preferences for modern amenity rich work environments.

The company distinguishes itself from other office property owners by emphasizing prime locations, competitive rental rates, comprehensive tenant services, proximity to public transit, and a reputation for high quality construction and diligent maintenance.

Its competitive advantages include a focus on lifestyle office buildings that offer modern designs, resilient construction, and robust amenity packages, which help achieve higher occupancy and rental growth compared with many peers in the same markets.

Cousins Properties also benefits from a disciplined capital allocation strategy, a low leverage balance sheet, and strong local operating teams that enable timely acquisition, development, and disposition decisions.

These factors support its position as a leading provider of premium office space in the Sun Belt region.

The company’s tenant base consists of a diverse mix of corporate occupants across various industries, including technology firms, professional services companies, financial institutions, healthcare providers, and consumer facing businesses.

These tenants typically seek modern office environments that offer convenient access to transportation, ample parking, and a range of on site amenities such as fitness centers, conference facilities, and food service options.

By catering to the preferences of these organizations, Cousins Properties aims to build long term relationships that support stable occupancy and consistent rental income.