You're on Your Own Houston: Cousins To Merge With Parkway Properties; Spin Off Houston Assets


Cousins Properties Inc. and Parkway Properties Inc. agreed this morning to a stock-for-stock merger and the simultaneous spin-off of their Houston-based assets into a new publicly-traded REIT (for right now called HoustonCo). The transactions will result in two independent and internally-managed office REITs: a larger and more diverse Cousins, which will continue its strategy of owning Class A office towers in high-growth urban Sun Belt markets...

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