Cousins Properties to acquire Sail Tower in Austin for $521.8M

COUSINS PROPERTIES INC

804,000 sq ft trophy office property in Downtown Austin; net purchase price $521.8M.
100% leased to a Fortune 20 company (S&P: AA+) through 2038.
Property developed in 2022; located near existing 1.7M sq ft Cousins portfolio.
Transaction expected to close December 2024, subject to customary conditions.
Acquisition is immediately accretive to earnings per management.

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