You’re on Your Own Houston: Cousins To Merge With Parkway Properties; Spin-Off Houston Assets
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Cousins Properties Inc. and Parkway Properties Inc. agreed this morning to a stock-for-stock merger and the simultaneous spin-off of their combined Houston-based property into a new publicly-traded REIT (referred to as HoustonCo). The transactions will result in a larger and more diverse Cousins, which will continue its investment strategy of owning Class A office towers in high-growth urban Sun Belt markets, and a smaller new REIT seeded with…
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