Lea Richmond, president of Cousins/Richmond is leaving theventure as of Sept. 30. Richmond and Cousins expect to continueworking together in medical ventures that Richmond may bring to thetable. He will resume the management of non-Cousins-owned medicalbuildings in which he has or had an interest.
One sticking point the partners had was physicians co-investingin facilities. Cousins has a policy of not allowingphysician-investment. In a prepared statement, Richmond says he can"now pursue those transactions while continuing to bring to Cousinsmore traditional opportunities."
Cousins' Daniel DuPree, president and COO, notes the medicaloffice business has taken longer to establish than the companyexpected. The new arrangement will help reduce costs and increaseits marketing efforts at the same time.
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