BREAKING NEWS

RNR Real Estate Briefs – HOU, AUS, DAL & more

Hines Lands Berg Restaurant in Downtown Tower

Harold Farb Skyscraper Sold

Hotels Sold for $137 Million

High Mortgages Frustrate Buyers

RNR Real Estate Briefs – HOU, AUS, DAL & more

REALTY NEWS REPORT - Logo

Banner
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

Cousins Properties and TIER REIT to Merge to Form Large Office Firm

by Realty News ReportMarch 25, 2019
Share0
One BriarLake Plaza in Houston is part of the TIER REIT portfolio.

DALLAS and ATLANTA – (Realty News Report) – Dallas-based Tier REIT is merging with Cousins Property of Atlanta to create a $7.8 billion real estate company with extensive holdings in southeastern and southwestern states.

After the combination, the firm will own 21 million SF of office space.

In Houston, Tier REIT owns the 835,000-SF BriarLake Plaza a two-building office project on Beltway 8 in Westchase.

The companies have significant buildings in Austin and Dallas, and are active in developing new Texas projects.. Also included in the portfolio are land parcels suitable for office development.

“The combination of these two highly complementary companies creates the preeminent Sun Belt office REIT with a best-in-class balance sheet. The company will own an unmatched portfolio of trophy office properties in the premier submarkets of Atlanta, Austin, Charlotte, Dallas, Phoenix and Tampa,” said Colin Connolly, President and Chief Executive Officer of Cousins. “In addition, the company will be uniquely positioned to drive superior value for shareholders through its highly pre-leased existing development pipeline and well-located strategic land holdings for future development.”

“This transaction will be transformative for both companies,” said Scott Fordham, Chief Executive Officer of TIER. “The alignment of high-quality properties and common geographic footprint in our respective portfolios will offer shareholders the opportunity to benefit from a truly differentiated Sun Belt focused office platform. In addition, with an enhanced balance sheet, our shareholders will be able to benefit from further value creation in Austin, Dallas and Atlanta with TIER’s pipeline of over 5 million square feet of development and redevelopment opportunities.”

March 25, 2019 Realty News Report Copyright 2019
Share0
previous post
Jobs Report: Houston Economy Added 72,600 Jobs Over Last Year
next post
Remodeling Surging in Houston – And Around the Nation

Related posts

RNR Real Estate Briefs – HOU, AUS, DAL & more

Realty News ReportMarch 31, 2023

Hines Lands Berg Restaurant in Downtown Tower

Realty News ReportMarch 30, 2023

Harold Farb Skyscraper Sold

Realty News ReportMarch 29, 2023March 30, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
Property Logos
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
Evergreen Commercial Realty
STREAM Ad
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact