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Real Estate Notebook: Cousins to buy Tier REIT, gain control of top Sunbelt properties

Douglas Sams
Real Estate Notebook: Cousins to buy Tier REIT, gain control of top Sunbelt properties

Cousins Properties Inc.’s agreement to buy Dallas-based Tier REIT is linked to U.S. population-and-job growth shifting to Sunbelt markets, says President and CEO Colin Connolly. “We are taking advantage of a very compelling opportunity,” Connolly told Atlanta Business Chronicle following the March 24 announcement of the pending deal between Cousins and Tier REIT Inc. (NYSE: TIER). Cousins’ acquisition will create a nearly $5.9 billion real estate company (based on stock value) with a 21-million-square-foot portfolio across key Sunbelt cities such as Atlanta, Austin, Dallas and Charlotte.