Cousins & Parkway Close on $5B Merger

Cousins Property Inc. and Parkway Properties Inc. completed their previously announced merger. Cousins acquired Parkway in an all-stock deal worth $5 billion. The combined company’s common stock is trading under the symbol CUZ on the NYSE.

Cousins also finalized the spinoff of the combined company’s Houston-based assets into a new, publicly-traded REIT called Parkway Inc., or New Parkway. New Parkway’s common stock is trading under the symbol PKY on the NYSE. The REIT’s portfolio consists of five Class A office assets consisting of  19 buildings and totaling approximately 8.7 million square feet in Houston’s Greenway, Galleria and Westchase submarkets.

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