Cousins, Prudential Real Estate form $172.5M venture for Atlanta office building

December 12, 2007

 Cousins Properties Inc. (NYSE:CUZ PRB)  said Tuesday it formed a joint venture with Prudential Financial’s (NYSE:PRU) Prudential Real Estate Investors to develop, own and lease Terminus 200, a 565,000-square-foot office building under construction in the Buckhead district of Atlanta.The capitalization of the venture, including debt, will be $172.5 million, which is the expected construction cost of the building.

The joint venture has closed on a $138 million construction loan.Prudential Real Estate Investors is acting on behalf of institutional investors, Cousins said.Shares of Atlanta-based Cousins fell 2.1% to $24.27.


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