FORT WORTH-Cousins Properties Inc. has completed its previously announced buy of Greenway Plaza, a 10-building, 4.4 million-square-foot office portfolio in Houston, and 777 Main, a 980,000-square-foot class-A office tower in Fort Worth.
The deal has a gross purchase price of approximately $1.1 billion in cash, and the seller is Crescent Real Estate Holdings LLC, Fort Worth. Together, the properties comprise more than 5 million square feet. HFF brokered the transaction.
The 40-story, mirrored-glass high-rise in Ft. Worth was once known as Carter Burgess Plaza. It was built in 1982 and is one of Fort Worth's largest office properties and a significant piece of the city's the skyline. Tenants include Jacobs Engineering Group Inc., FTS International Services, the Petroleum Club and Crescent Real Estate's corporate headquarters.
Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust (REIT), based in Atlanta. The firm invests in class-A office towers located in high growth Sunbelt markets, with a focus on Georgia, Texas and North Carolina. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing and management of high-quality real estate assets.
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