Cousins Properties announced the acquisition of The Link, a 292,000 square foot lifestyle office property in Dallas, for $218 million. The property is located in the Uptown submarket of Dallas.
The Link was built in 2021 and is currently 93.6% leased with a weighted average lease term of over nine years, indicating strong tenant demand and stable revenue potential. All of the property's leases were signed post-pandemic.
This acquisition was funded with a combination of excess proceeds from Cousins' unsecured senior note offering and the settlement of common shares previously issued on a forward basis. CEO Colin Connolly stated the acquisition is immediately accretive to earnings and enhances the company's portfolio and geographic concentration.
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