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Cousins Properties Inc. (NYSE: CUZ) and Parkway Properties, Inc. (NYSE: PKY) said April 29 that they have agreed to a stock-for-stock merger valued at approximately $ 1.95 billion. The transaction also involves the spinoff of the Houston-based assets of both companies into a new publicly traded REIT.
Larry Gellerstedt, president and CEO of Cousins Properties (NYSE: CUZ), joined REIT.com for a CEO Spotlight video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.
After spending the last five years shedding retail, industrial, residential and land assets, Cousins Properties Inc. (NYSE: CUZ) is focusing today on creating value within a portfolio of trophy office assets in the Sun Belt.
Since Cousins President and CEO Lawrence Gellerstedt III took over in 2009, the Atlanta-based firm has shifted the bulk of its portfolio from Atlanta to Texas.