Cousins Announces Disposal Of Eight Retail Centers

(RTTNews) - Cousins Properties Inc. (CUZ) Monday said it is disposing its two retail joint ventures consisting of eight retail centers in four markets. Cousins has also sold its Tiffany Springs MarketCenter, a retail power center in Kansas City, Missouri, for approximately $54 million to an unrelated third party.

The Prudential Insurance Co. of America, which previously held approximately 89 percent stake in the ventures, purchased Cousins' interests to become sole owner of the portfolio. The transaction valued Cousins' interests at approximately $57 million prior to allocation of property level debt.