COUSINS CLOSES $189M MORTGAGE FOR HOUSTON OFFICE COMPLEX

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HOUSTON — Cousins Properties, an Atlanta-based REIT, has closed a $189 million non-recourse mortgage for Post Oak Central, a Class A office complex in Houston’s Galleria submarket. Originally purchased by Cousins in February for $233 million, the property comprises three towers totaling 1.3 million square feet. The buildings are currently 94 percent occupied, up from 92 percent at the time of sale. The mortgage, which was announced in conjunction with another closed for an Atlanta-area Cousins property, entails a seven-year term and a fixed rate of 4.26 percent. HFF arranged the terms.

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