Last week, Cousins posted favorable funds from operationsthrough the first nine months of 2008 at $50.9 million, including$20.9 million in the third quarter, nearly triple the FFO from thesame period last year. The quarterly highlights included the$30.3-million sale of 120 remaining residential units at the54-story 50 Biscayne condominium tower in Miami, a joint venture ofCousins and Miami-based Related Group.


In other company news, Cousins announced this week theretirement of Joel Murphy, executive vice president and chiefleasing and asset management officer, at the end of this year.Murphy, who will serve as a consultant to Cousins starting in 2009,has been with the company since 1988 and previously served assenior vice president and president of its retail division.


"After 20 years I feel it is time for me to step back andexplore the possibilities that lie ahead for the remainder of myprofessional career," Murphy stated in a release. "Cousins has atalented and deep management team in place with my group and thecompany, and I have the greatest confidence in their continuedsuccess."


Cousins, a diversified real estate company, has developed 20million square feet of office space, 20 million square feet ofretail, more than 4,000 multifamily units and at least 60single-family neighborhoods. The company is observing its 50thanniversary this year.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.