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Cousins Divests 1M-SF Orlando, Miami Portfolio for $208M
Cousins Properties completed the disposition of its Orlando office portfolio and its equity interest in its sole Miami asset. The one-million-square-foot Orlando portfolio, which consisted of Bank of America Center, Citrus Center and One Orlando Centre, was sold in a single transaction to San Diego-based Southwest Value Partners for a gross price of $208.1 million.
Bank of America Center is a 28-story, more than 420,000-square-foot building located at 390 North Orange Ave., Citrus Center is an 18-story, more than 260,000-square-foot building located at 255 South Orange Ave. and One Orlando Centre is a 19-story, nearly 356,000-square-foot building located at 800 North Magnolia Ave.
Cousins also sold its 20% interest in Courvoisier Center, a 343,000-square-foot office property in Miami, to its joint venture partner for $33.9 million, which included its share of joint venture debt.
In total, Cousins has generated roughly $558 million of gross proceeds from property dispositions during 2017.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
