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COUSINS PROPERTIES TO BUY FIFTH THIRD CENTER IN CHARLOTTE FOR $215M

CHARLOTTE, N.C. — Cousins Properties Inc. (NYSE: CUZ) is under contract to buy Fifth Third Center in Charlotte for $215 million from Parmenter Realty Partners. The 30-story, 697,817-square-foot building is located at 201 N. Tryon St. in uptown Charlotte and was purchased by Parmenter Realty Fund IV in 2012. Will Yowell, Jay O’Meara and Patrick Gildea from CBRE represented Parmenter in the sale.

“Fifth Third Center is a premier and iconic asset and was a solid performer in Parmenter Fund IV,” says Darryl Parmenter, chairman and chief executive officer of Parmenter Realty Partners. “We accelerated our business plan at the property and felt the time was right to sell. This will be the second asset from Parmenter Realty Fund IV that we have sold.”

Parmenter made cosmetic improvements to the building and courtyard, renovated the main lobby, upgraded the elevators and mechanical systems and recommissioned the building’s energy management system. The building has been named one of the top three energy saving buildings for 2013 in Duke Energy’s Smart Energy Now program.

Parmenter Realty Partners is a real estate investment, management and development firm headquartered in Miami with regional offices in Dallas, Atlanta and Washington D.C. For more information, visit www.parmco.com.

Cousins Properties is an Atlanta-based REIT that primarily invests in Class A office towers. The company’s main focus is on Georgia, Texas and North Carolina. Cousins’ stock price closed Wednesday, July 30 at $12.44 per share, up from $10.28 per share a year ago.

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