Cousins Properties (CUZ) 10-Q 27 Jul 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 20, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	COUSINS PROPERTIES INC
Entity Central Index Key	25,232
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		419,992,589

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Real estate assets:
Operating properties, net of accumulated depreciation of $217,925 and $215,856 in 2017 and 2016, respectively	$ 3,479,262	$ 3,432,522
Projects under development	203,562	162,387
Land	4,221	4,221
Total properties	3,687,045	3,599,130
Cash and cash equivalents	16,420	35,687
Restricted cash	8,139	15,634
Notes and accounts receivable, net of allowance for doubtful accounts of $1,425 and $1,167 in 2017 and 2016, respectively	20,530	27,683
Deferred rents receivable	47,240	39,464
Investment in unconsolidated joint ventures	101,532	179,397
Intangible assets, net of accumulated amortization of $85,341 and $53,483 in 2017 and 2016, respectively	225,860	245,529
Other assets	29,280	29,083
Total assets	4,136,046	4,171,607
Liabilities:
Notes payable	1,019,619	1,380,920
Accounts payable and accrued expenses	128,772	109,278
Deferred income	34,743	33,304
Intangible liabilities, net of accumulated amortization of $21,543 and $12,227 in 2017 and 2016, respectively	80,466	89,781
Other liabilities	42,769	44,084
Total liabilities	1,306,369	1,657,367
Commitments and contingencies
Stockholders' investment:
Preferred stock, $1 par value, 20,000,000 shares authorized, 6,867,357 shares issued and outstanding in 2017 and 2016	6,867	6,867
Common stock, $1 par value, 700,000,000 shares authorized, 430,296,523 and 403,746,938 shares issued in 2017 and 2016, respectively	430,297	403,747
Additional paid-in capital	3,604,036	3,407,430
Treasury stock at cost, 10,329,082 shares in 2017 and 2016	(148,373)	(148,373)
Distributions in excess of cumulative net income	(1,114,662)	(1,214,114)
Total stockholders' investment	2,778,165	2,455,557
Nonredeemable noncontrolling interests	51,512	58,683
Total equity	2,829,677	2,514,240
Total liabilities and equity	$ 4,136,046	$ 4,171,607

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Accumulated depreciation on operating properties	$ 217,925	$ 215,856
Allowance for doubtful accounts for notes and accounts receivable	1,425	1,167
Accumulated amortization on intangible assets	85,341	53,483
Accumulated amortization on intangible liabilities	$ 21,543	$ 12,227
Preferred stock, par value (in usd per share)	$ 1	$ 1
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	6,867,357	6,867,357
Preferred stock, shares outstanding	6,867,357	6,867,357
Common stock, par value (in usd per share)	$ 1	$ 1
Common stock, shares authorized	700,000,000	700,000,000
Common stock, shares issued	430,296,523	403,746,938
Treasury stock, shares	10,329,082	10,329,082

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Rental property revenues	$ 114,007,000	$ 46,454,000	$ 226,524,000	$ 91,807,000
Fee income	1,854,000	1,824,000	3,791,000	4,023,000
Other	3,174,000	27,000	8,600,000	417,000
Total revenues	119,035,000	48,305,000	238,915,000	96,247,000
Costs and expenses:
Rental property operating expenses	41,501,000	19,526,000	83,026,000	37,330,000
Reimbursed expenses	907,000	798,000	1,772,000	1,668,000
General and administrative expenses	8,618,000	4,691,000	14,828,000	12,934,000
Interest expense	8,523,000	5,369,000	18,264,000	10,808,000
Depreciation and amortization	50,040,000	16,641,000	104,924,000	33,182,000
Acquisition and transaction costs	246,000	2,424,000	2,177,000	2,443,000
Other	236,000	152,000	612,000	507,000
Total costs and expenses	110,071,000	49,601,000	225,603,000	98,872,000
Gain on extinguishment of debt	1,829,000	0	1,829,000	0
Income (loss) from continuing operations before unconsolidated joint ventures and gain (loss) on sale of investment properties	10,793,000	(1,296,000)	15,141,000	(2,625,000)
Income from unconsolidated joint ventures	40,320,000	1,784,000	40,901,000	3,618,000
Income from continuing operations before gain (loss) on sale of investment properties	51,113,000	488,000	56,042,000	993,000
Gain (loss) on sale of investment properties	119,832,000	(246,000)	119,761,000	13,944,000
Income from continuing operations	170,945,000	242,000	175,803,000	14,937,000
Income from discontinued operations	0	7,523,000	0	15,624,000
Net income	170,945,000	7,765,000	175,803,000	30,561,000
Net income attributable to noncontrolling interests	(2,856,000)	0	(2,963,000)	0
Net income available to common stockholders	$ 168,089,000	$ 7,765,000	$ 172,840,000	$ 30,561,000
Per common share information — basic and diluted:
Income from continuing operations (in usd per share)	$ 0.40	$ 0	$ 0.42	$ 0.07
Income from discontinued operations (in usd per share)	0	0.04	0	0.08
Net income (in usd per share)	$ 0.40	$ 0.04	$ 0.42	$ 0.15
Weighted average shares — basic	419,402	210,129	411,137	210,516
Weighted average shares — diluted	427,180	210,362	419,227	210,687
Dividends declared per common share (in usd per share)	$ 0.06	$ 0.08	$ 0.18	$ 0.16

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Treasury Stock	Distributions in Excess of Net Income	Stockholders’ Investment	Nonredeemable Noncontrolling Interests
Beginning balance at Dec. 31, 2015	$ 1,683,415		$ 220,256	$ 1,722,224	$ (134,630)	$ (124,435)	$ 1,683,415	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	30,561					30,561	30,561
Common stock issued pursuant to:
Stock based compensation	339		258	81			339
Amortization of stock options and restricted stock, net of forfeitures	813		(13)	826			813
Contributions from nonredeemable noncontrolling interest	1,473							1,473
Repurchase of common stock	(13,743)				(13,743)		(13,743)
Common dividends	(33,728)					(33,728)	(33,728)
Ending balance at Jun. 30, 2016	1,669,130		220,501	1,723,131	(148,373)	(127,602)	1,667,657	1,473
Beginning balance at Dec. 31, 2016	2,514,240	$ 6,867	403,747	3,407,430	(148,373)	(1,214,114)	2,455,557	58,683
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	175,803					172,840	172,840	2,963
Common stock issued pursuant to:
Common stock offering, net of issuance costs	211,820		25,000	186,820			211,820
Director stock grants	1,010		121	889			1,010
Stock based compensation	(711)		232	(943)			(711)
Spin-off of Parkway, Inc.	562					562	562
Common stock redemption by unit holders	0		1,203	8,865			10,068	(10,068)
Amortization of stock options and restricted stock, net of forfeitures	969		(6)	975			969
Contributions from nonredeemable noncontrolling interest	900							900
Distributions to nonredeemable noncontrolling interest	(966)							(966)
Common dividends	(73,950)					(73,950)	(73,950)
Ending balance at Jun. 30, 2017	$ 2,829,677	$ 6,867	$ 430,297	$ 3,604,036	$ (148,373)	$ (1,114,662)	$ 2,778,165	$ 51,512

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	Jun. 19, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Stockholders' Equity [Abstract]
Dividends per common share (in usd per share)	$ 0.06	$ 0.06	$ 0.08	$ 0.18	$ 0.16

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 175,803,000	$ 30,561,000
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of investment properties	(119,761,000)	(13,944,000)
Depreciation and amortization, including discontinued operations	104,924,000	64,350,000
Amortization of deferred financing costs and premium/discount on notes payable	(2,948,000)	699,000
Stock-based compensation expense, net of forfeitures	1,979,000	1,153,000
Effect of certain non-cash adjustments to rental revenues	(24,057,000)	(9,656,000)
Income from unconsolidated joint ventures	(40,901,000)	(3,618,000)
Operating distributions from unconsolidated joint ventures	39,982,000	4,209,000
Gain on extinguishment of debt	(1,829,000)	0
Changes in other operating assets and liabilities:
Change in other receivables and other assets, net	3,108,000	(5,188,000)
Change in operating liabilities	(10,063,000)	(8,472,000)
Net cash provided by operating activities	126,237,000	60,094,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from investment property sales	167,118,000	21,088,000
Property acquisition, development, and tenant asset expenditures	(151,150,000)	(75,594,000)
Purchase of tenant in common interest	(13,382,000)	0
Collection of notes receivable	5,161,000	0
Investment in unconsolidated joint ventures	(8,266,000)	(22,281,000)
Distributions from unconsolidated joint ventures	40,939,000	4,099,000
Change in restricted cash	7,495,000	(876,000)
Net cash provided by (used in) investing activities	47,915,000	(73,564,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from credit facility	457,000,000	163,700,000
Repayment of credit facility	(497,000,000)	(100,700,000)
Proceeds from issuance of notes payable	100,000,000	0
Repayment of notes payable	(413,726,000)	(4,589,000)
Payment of deferred financing costs	(2,030,000)	0
Shares withheld for payment of taxes on restricted stock vesting	(701,000)	0
Common stock issued, net of expenses	211,820,000	0
Contributions from noncontrolling interests	900,000	1,473,000
Distributions to nonredeemable noncontrolling interests	(966,000)	0
Repurchase of common stock	0	(13,743,000)
Common dividends paid	(48,815,000)	(33,728,000)
Other	99,000	0
Net cash provided by (used in) financing activities	(193,419,000)	12,413,000
NET DECREASE IN CASH AND CASH EQUIVALENTS	(19,267,000)	(1,057,000)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	35,687,000	2,003,000
CASH AND CASH EQUIVALENTS AT END OF PERIOD	16,420,000	946,000
Interest paid, net of amounts capitalized	22,721,000	14,131,000
Significant non-cash transactions:
Transfer from investment in unconsolidated joint ventures to operating properties	68,390,000	0
Transfer from projects under development to operating properties	58,928,000	0
Common stock dividends declared	25,212,000	0
Transfer from investment in unconsolidated joint ventures to projects under development	0	5,880,000
Change in accrued property acquisition, development, and tenant asset expenditures	$ (1,110,000)	$ 3,891,000

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business Cousins Properties Incorporated (“Cousins”), a Georgia corporation, is a self-administered and self-managed real estate investment trust (“REIT”). Cousins conducts substantially all of its operations through Cousins Properties LP ("CPLP"). Cousins owns approximately 98% of CPLP and consolidates CPLP. Cousins TRS Services LLC ("CTRS"), which is wholly owned by CPLP, is a taxable entity which owns and manages its own real estate portfolio and performs certain real estate related services for other parties. Cousins, CPLP, CTRS, and their subsidiaries are hereinafter referred to collectively as "the Company." The Company develops, acquires, leases, manages, and owns Class A office and mixed-use properties in Sunbelt markets with a focus on Arizona, Florida, Georgia, North Carolina, and Texas. Cousins has elected to be taxed as a REIT and intends to, among other things, distribute 100% of its net taxable income to stockholders, thereby eliminating any liability for federal income taxes under current law. Therefore, the results included herein do not include a federal income tax provision for Cousins. Basis of Presentation The condensed consolidated financial statements are unaudited and were prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, these financial statements reflect all adjustments necessary (which adjustments are of a normal and recurring nature) for the fair presentation of the Company's financial position as of June 30, 2017 and the results of operations for the three and six months ended June 30, 2017 and 2016 . The results of operations for the three and six months ended June 30, 2017 are not necessarily indicative of results expected for the full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2016 . The accounting policies employed are substantially the same as those shown in note 2 to the consolidated financial statements included therein. For the three and six months ended June 30, 2017 and 2016 , there were no items of other comprehensive income. Therefore, no presentation of comprehensive income is required. Recently Issued Accounting Standards In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers." Under the new guidance, companies will recognize revenue when the seller satisfies a performance obligation, which would be when the buyer takes control of the good or service. ASU 2015-14, "Revenue from Contracts with Customers," was subsequently issued modifying the effective date to periods beginning after December 15, 2017, with early adoption permitted for periods beginning after December 15, 2016. The standard allows for either "full retrospective" adoption, meaning the standard is applied to all of the periods presented, or "modified retrospective" adoption, meaning the standard is applied only to the most recent period presented in the financial statements. The Company expects to adopt this guidance effective January 1, 2018 and is in the process of analyzing the impact of the adoption of this guidance. The new guidance specifically excludes revenue associated with lease contracts. This new guidance could result in different amounts of revenue being recognized and could result in revenue being recognized in different reporting periods than under the current guidance; however, the Company expects that the majority of its non-lease revenues will continue to be recognized during the periods in which services are performed. The Company expects to adopt this guidance using the "modified retrospective" method effective January 1, 2018. The Company is still analyzing potential disclosures that will clearly identify the sources of revenue and the periods over which each is recognized. In February 2016, the FASB issued ASU 2016-02, "Leases," which amends the existing standards for lease accounting by requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting and reporting. The new standard will require lessees to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months and classify such leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method (finance leases) or on a straight-line basis over the term of the lease (operating leases). Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases, and operating leases. ASU 2016-02 supersedes previous leasing standards. The guidance is effective for the fiscal years beginning after December 15, 2018, with early adoption permitted. The Company expects to adopt this guidance using the "modified retrospective" method effective January 1, 2019, and is currently assessing the potential impact of adopting the new guidance. In August 2016, the FASB issued ASU 2016-15, "Classification of Certain Cash Receipts and Cash Payments" ("ASU 2016-15") which updated ASC Topic 230, "Statement of Cash Flows." ASU 2016-15 clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows to reduce diversity in practice with respect to (i) debt prepayment or debt extinguishment costs, (ii) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, (iii) contingent consideration payments made after a business combination, (iv) proceeds from the settlement of insurance claims, (v) proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, (vi) distributions received from equity method investees, (vii) beneficial interests in securitization transactions, and (viii) separately identifiable cash flows and application of the predominance principle. ASU 2016-15 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017, with early adoption permitted. The Company will adopt this ASU in 2018. In November 2016, the FASB issued ASU 2016-18, "Restricted Cash" ("ASU 2016-18") which updated ASC Topic 230, "Statement of Cash Flows." ASU 2016-18 will require companies to include restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This update is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017, with early adoption permitted. Effective January 1, 2017, the Company adopted ASU 2016-09, "Improvements to Employee Share-Based Payment Accounting." Under this ASU, the additional paid-in capital pool is eliminated, and an entity recognizes all excess tax benefits and tax deficiencies as income tax expense or benefit in the income statement. This ASU also eliminated the requirement to defer recognition of an excess tax benefit until all benefits are realized through a reduction to taxes payable. In the first quarter of 2017, the Company changed the treatment of excess tax benefits as operating cash flows in the statement of cash flows. This ASU also stipulates that cash payments to tax authorities in connection with shares withheld to meet statutory tax withholding requirements be presented as a financing activity in the statement of cash flows. This ASU was adopted prospectively effective January 1, 2017; therefore, prior periods have not been restated to conform to the current period presentation. In January 2017, the FASB issued ASU 2017-01, "Clarifying the Definition of a Business," which provides a more narrow definition of a business to be used in determining the accounting treatment of an acquisition. As a result, many acquisitions that previously qualified as business combinations will be treated as asset acquisitions. For asset acquisitions, acquisition costs may be capitalized, and the purchase price may be allocated on a relative fair value basis. ASU 2017-01 is effective prospectively for the Company on January 1, 2018, with early adoption permitted. The Company expects that most of its future acquisitions will qualify as asset acquisitions. In February 2017, the FASB issued ASU No. 2017-05, “Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets” (“ASU 2017-05”). ASU 2017-05 updates the definition of an “in substance nonfinancial asset” and clarifies the derecognition guidance for nonfinancial assets to conform with the new revenue recognition standard. The Company is currently assessing the potential impact that the adoption of ASU 2017-05 will have on its consolidated financial statements. This ASU is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. The Company expects to adopt this guidance using the "modified retrospective" method effective January 1, 2018. In May 2017, FASB issued ASU 2017-09, "Scope of Modification Accounting", which amends the scope of modification accounting for share-based payment arrangements and provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under ASC 718. This update is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017, with early adoption permitted.

Real Estate Transactions

Real Estate Transactions	6 Months Ended
	Jun. 30, 2017
Real Estate [Abstract]
REAL ESTATE TRANSACTIONS	REAL ESTATE TRANSACTIONS On June 15, 2017, The American Cancer Society Center (the “ACS Center”), a 996,000 square foot office building in Atlanta, Georgia that was included in the Company's Atlanta/Office operating segment, was sold for a gross purchase price of $166.0 million . The Company recognized a net gain of $119.8 million on the sale of the ACS Center. The associated debt was repaid on the date of sale.

Transactions With Parkway Prope

Transactions With Parkway Properties, Inc.	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
TRANSACTIONS WITH PARKWAY PROPERTIES, INC.	TRANSACTIONS WITH PARKWAY PROPERTIES, INC. On October 6, 2016, pursuant to the Agreement and Plan of Merger, dated April 28, 2016, (as amended or supplemented from time to time, the “Merger Agreement”), by and among Cousins, Parkway Properties, Inc. ("Parkway"), and subsidiaries of Cousins and Parkway, Parkway merged with and into a wholly-owned subsidiary of the Company (the "Merger"), with this subsidiary continuing as the surviving corporation of the Merger. In accordance with the terms and conditions of the Merger Agreement, each outstanding share of Parkway common stock and each outstanding share of Parkway limited voting stock was converted into 1.63 shares of Cousins common stock or limited voting preferred stock, respectively. On October 7, 2016, pursuant to the Merger Agreement and the Separation, Distribution and Transition Services Agreement, dated as of October 5, 2016 (the "Separation Agreement"), by and among Cousins, Parkway, Parkway, Inc. ("New Parkway"), and certain other parties thereto, Cousins distributed pro rata to its common and limited voting preferred stockholders, including legacy Parkway common and limited voting stockholders, all of the outstanding shares of common and limited voting stock, respectively, of New Parkway, a newly-formed entity that contains the combined businesses relating to the ownership of real properties in Houston, Texas and certain other businesses of Parkway (the "Spin-Off"). In the Spin-Off, Cousins distributed one share of New Parkway common or limited voting stock for every eight shares of common or limited voting preferred stock of Cousins held of record as of the close of business on October 6, 2016. New Parkway is now an independent public company, and its common stock is listed under the symbol "PKY" on the New York Stock Exchange. As a result of the Spin-Off, the historical results of operations of the Company's properties that were contributed to New Parkway have been presented as discontinued operations in the consolidated statements of operations. The following table includes a summary of discontinued operations of the Company for the three and six months ended June 30, 2016 (in thousands): Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Rental property revenues $ 44,281 $ 87,404 Rental property operating expenses (19,155 ) (36,960 ) Other revenues 102 288 Interest expense (1,965 ) (3,940 ) Depreciation and amortization (15,740 ) (31,168 ) Income from discontinued operations $ 7,523 $ 15,624 Cash provided by operating activities $ 23,253 $ 17,012 Cash used in investing activities $ (9,375 ) $ (18,112 )

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Ventures	6 Months Ended
	Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	INVESTMENT IN UNCONSOLIDATED JOINT VENTURES The Company describes its investments in unconsolidated joint ventures in note 6 of notes to consolidated financial statements in its Annual Report on Form 10-K for the year ended December 31, 2016 . The following table summarizes balance sheet data of the Company's unconsolidated joint ventures as of June 30, 2017 and December 31, 2016 (in thousands): Total Assets Total Debt Total Equity Company’s Investment SUMMARY OF FINANCIAL POSITION: 2017 2016 2017 2016 2017 2016 2017 2016 Terminus Office Holdings $ 267,747 $ 268,242 $ 205,454 $ 207,545 $ 51,112 $ 49,476 $ 25,384 $ 25,686 EP I LLC 1,760 78,537 — 58,029 1,333 18,962 783 18,551 EP II LLC 520 67,754 — 44,969 239 21,743 88 17,606 Charlotte Gateway Village, LLC 125,819 119,054 — — 121,544 116,809 14,163 11,796 HICO Victory Center LP 14,145 14,124 — — 14,141 13,869 9,632 9,506 Carolina Square Holdings LP 88,571 66,922 50,529 23,741 34,087 34,173 18,752 18,325 CL Realty, L.L.C. 7,989 8,047 — — 7,915 7,899 2,874 3,644 DC Charlotte Plaza LLLP 30,780 17,940 — — 24,209 17,073 12,528 8,937 Temco Associates, LLC 4,398 4,368 — — 4,294 4,253 854 829 Wildwood Associates 16,380 16,351 — — 16,262 16,314 (1,169 ) (1) (1,143 ) (1) Crawford Long - CPI, LLC 28,400 27,523 72,070 72,822 (45,106 ) (45,928 ) (21,455 ) (1) (21,866 ) (1) 111 West Rio Building — 59,399 — 12,852 — 32,855 — 52,206 Courvoisier Centre JV, LLC 181,633 172,197 106,500 106,500 68,400 69,479 11,588 11,782 HICO Avalon II, LLC 5,237 — — — 5,237 — 3,928 — AMCO 120 WT Holdings, LLC 11,591 10,446 — — 11,127 9,136 617 184 Other — — — — — — 341 345 $ 784,970 $ 930,904 $ 434,553 $ 526,458 $ 314,794 $ 366,113 $ 78,908 $ 156,388 (1) Negative balances are included in deferred income on the balance sheets. The following table summarizes statement of operations information of the Company's unconsolidated joint ventures for the six months ended June 30, 2017 and 2016 (in thousands): Total Revenues Net Income (Loss) Company's Share of Income (Loss) SUMMARY OF OPERATIONS: 2017 2016 2017 2016 2017 2016 Terminus Office Holdings $ 21,908 $ 20,978 $ 3,178 $ 2,597 $ 1,769 $ 1,298 EP I LLC 4,103 5,991 44,929 1,168 28,525 951 EP II LLC 2,643 2,044 12,967 (1,018 ) 9,725 (823 ) Charlotte Gateway Village, LLC 13,380 17,477 4,734 7,263 2,367 987 HICO Victory Center LP 171 169 171 162 114 81 Carolina Square Holdings LP 40 — (94 ) — — — CL Realty, L.L.C. 2,599 246 2,415 64 430 44 DC Charlotte Plaza LLLP 2 — 2 33 2 18 Temco Associates, LLC 80 147 41 79 25 119 Wildwood Associates — — (51 ) (56 ) (26 ) (28 ) Crawford Long - CPI, LLC 6,033 6,028 1,516 1,346 758 673 111 West Rio Building — — — — (2,593 ) — Courvoisier Centre JV, LLC 6,554 — (1,083 ) — (195 ) — HICO Avalon II, LLC — — — — — — AMCO 120 WT Holdings, LLC — — (12 ) — — — Other — — — — — 298 $ 57,513 $ 53,080 $ 68,713 $ 11,638 $ 40,901 $ 3,618 On May 3, 2017, EP I, LLC and EP II, LLC sold the properties that they owned for a combined gross sales price of $199.0 million . After repayment of debt, the Company received a distribution of $70.0 million and recognized a gain of $37.9 million which is recorded in income from unconsolidated joint ventures. In June 2017, HICO Avalon II, LLC ("Avalon II"), a joint venture between the Company and Hines Avalon II Investor, LLC ("Hines II") was formed for the purpose of acquiring and potentially developing an office building in Alpharetta, Georgia. Pursuant to the joint venture agreement, all predevelopment expenditures are funded 75% by Cousins and 25% by Hines II. As of June 30, 2017, the Company has accounted for its investment in Avalon II using the equity method as the Company does not currently control the activities of the venture. If Avalon II commences construction, subsequent development expenditures will be funded 90% by Cousins and 10% by Hines II. Additionally, Cousins will have control over the operational aspects of the venture and the Company expects to consolidate the venture at that time.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS Intangible assets on the balance sheets as of June 30, 2017 and December 31, 2016 included the following (in thousands): June 30, 2017 December 31, 2016 In-place leases, net of accumulated amortization of $74,308 and $46,899 in 2017 and 2016, respectively $ 170,234 $ 185,251 Above-market tenant leases, net of accumulated amortization of $10,826 and $6,515 in 2017 and 2016, respectively 35,746 40,260 Below-market ground lease, net of accumulated amortization of $207 and $69 in 2017 and 2016, respectively 18,206 18,344 Goodwill 1,674 1,674 $ 225,860 $ 245,529 The following is a summary of goodwill activity for the six months ended June 30, 2017 and 2016 (in thousands): Six Months Ended June 30, 2017 2016 Beginning balance $ 1,674 $ 3,647 Allocated to property sales — (21 ) Ending balance $ 1,674 $ 3,626

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets on the balance sheets as of June 30, 2017 and December 31, 2016 included the following (in thousands): June 30, 2017 December 31, 2016 Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $23,206 and $23,135 in 2017 and 2016, respectively $ 14,265 $ 15,773 Lease inducements, net of accumulated amortization of $825 and $1,278 in 2017 and 2016, respectively 1,864 2,517 Prepaid expenses and other assets 11,291 8,432 Line of credit deferred financing costs, net of accumulated amortization of $2,691 and $2,264 in 2017 and 2016, respectively 1,780 2,182 Predevelopment costs and earnest money 80 179 $ 29,280 $ 29,083

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE The following table details the terms and amounts of the Company’s outstanding notes payable at June 30, 2017 and December 31, 2016 ($ in thousands): Description Interest Rate Maturity June 30, 2017 December 31, 2016 Term Loan, unsecured 2.42 % 2021 $ 250,000 $ 250,000 Fifth Third Center 3.37 % 2026 148,049 149,516 Colorado Tower 3.45 % 2026 120,000 120,000 Promenade 4.27 % 2022 103,864 105,342 Senior Note, unsecured 4.09 % 2027 100,000 — Credit Facility, unsecured 2.32 % 2019 94,000 134,000 816 Congress 3.75 % 2024 84,095 84,872 3344 Peachtree 4.75 % 2017 77,928 78,971 Meridian Mark Plaza 6.00 % 2020 24,284 24,522 The Pointe 4.01 % 2019 22,730 22,945 One Eleven Congress 6.08 % 2017 — 128,000 The ACS Center 6.45 % 2017 — 127,508 San Jacinto Center 6.05 % 2017 — 101,000 Two Buckhead Plaza 6.43 % 2017 — 52,000 1,024,950 1,378,676 Unamortized premium, net 750 6,792 Unamortized loan costs (6,081 ) (4,548 ) Total Notes Payable $ 1,019,619 $ 1,380,920 Credit Facility The Company has a $500 million senior unsecured line of credit (the "Credit Facility") that matures on May 28, 2019. The Credit Facility may be expanded to $750 million at the election of the Company, subject to the receipt of additional commitments from the lenders and other customary conditions. The Credit Facility contains financial covenants that require, among other things, the maintenance of an unencumbered interest coverage ratio of at least 2.00 ; a fixed charge coverage ratio of at least 1.50 ; an overall leverage ratio of no more than 60% ; and a minimum shareholders' equity in an amount equal to $1.0 billion , plus a portion of the net cash proceeds from certain equity issuances. The Credit Facility also contains customary representations and warranties and affirmative and negative covenants, as well as customary events of default. The amounts outstanding under the Credit Facility may be accelerated upon the occurrence of any events of default. The interest rate applicable to the Credit Facility varies according to the Company’s leverage ratio, and may, at the election of the Company, be determined based on either (1) the current London Interbank Offered Rate ("LIBOR") plus a spread of between 1.10% and 1.45% , based on leverage or (2) the greater of Bank of America's prime rate, the federal funds rate plus 0.50% or the one-month LIBOR plus 1.0% (the “Base Rate”), plus a spread of between 0.10% and 0.45% , based on leverage. The Company also pays an annual facility fee on the total commitments under the Credit Facility of between 0.15% and 0.30% based on leverage. At June 30, 2017 , the Credit Facility's spread over LIBOR was 1.1% . The amount that the Company may draw under the Credit Facility is a defined calculation based on the Company's unencumbered assets and other factors. The total available borrowing capacity under the Credit Facility was $405 million at June 30, 2017 . Term Loan The Company has a $250 million senior unsecured term loan (the "Term Loan") that matures on December 2, 2021. The Term Loan contains financial covenants consistent with those of the Credit Facility. The interest rate applicable to the Term Loan varies according to the Company’s leverage ratio, and may, at the election of the Company, be determined based on either (1) the current London Interbank Offered Rate ("LIBOR") plus a spread of between 1.20% and 1.70% , based on leverage or (2) the greater of Bank of America's prime rate, the federal funds rate plus 0.50% or the one-month LIBOR plus 1.0% (the “Base Rate”), plus a spread of between 0.00% and 0.75% , based on leverage. At June 30, 2017 , the Term Loan's spread over LIBOR was 1.2% . Unsecured Senior Notes In April 2017, the Company closed a $350 million private placement of senior unsecured notes, which were issued in two tranches. The first tranche of $100 million was issued in April 2017, has a 10 -year maturity, and has a fixed annual interest rate of 4.09% . The second tranche of $250 million was issued in July 2017, has an 8 -year maturity, and has a fixed annual interest rate of 3.91% . The senior unsecured notes contain financial covenants that require, among other things, the maintenance of an unencumbered interest coverage ratio of at least 2.00 ; a fixed charge coverage ratio of at least 1.50 ; an overall leverage ratio of no more than 60% ; and a minimum shareholders' equity in an amount equal to $1.9 billion , plus a portion of the net cash proceeds from certain equity issuances. The senior notes also contain customary representations and warranties and affirmative and negative covenants, as well as customary events of default. The amounts outstanding under the senior notes may be accelerated upon the occurrence of any events of default. Fair Value At June 30, 2017 and December 31, 2016 , the aggregate estimated fair values of the Company's notes payable were $1.0 billion and $1.4 billion , respectively, calculated by discounting the debt's remaining contractual cash flows at estimated rates at which similar loans could have been obtained at those respective dates. The estimate of the current market rate, which is the most significant input in the discounted cash flow calculation, is intended to replicate debt of similar maturity and loan-to-value relationship. These fair value calculations are considered to be Level 2 under the guidelines as set forth in ASC 820, "Fair Value Measurement," as the Company utilizes market rates for similar type loans from third-party brokers. Other Information For the three and six months ended June 30, 2017 and 2016 , interest expense was as follows (in thousands): Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 2016 2017 2016 Total interest incurred $ 10,741 $ 8,350 $ 22,072 $ 16,506 Less interest - discontinued operations — (1,965 ) — (3,940 ) Interest capitalized (2,218 ) (1,016 ) (3,808 ) (1,758 ) Total interest expense $ 8,523 $ 5,369 $ 18,264 $ 10,808 In April 2017, the Company repaid in full, without penalty, the $128.0 million One Eleven Congress mortgage note and the $101.0 million San Jacinto Center mortgage note. In May 2017, the Company repaid in full, without penalty, the $52.0 million Two Buckhead Plaza mortgage note. In connection with these repayments, the Company recorded gains on extinguishment of debt of $2.2 million which represented the unamortized premium recorded on the notes at the time of the Merger. In June 2017, The Company sold the ACS Center. A portion of the proceeds from the sale were used to repay the $127.0 million mortgage note on the associated property, and the Company recorded a loss on extinguishment of debt of $376,000 which represented the remaining unamortized loan costs and other costs associated with repaying the debt. Subsequent to quarter end, in July 2017, the Company repaid in full, without penalty, the $77.9 million 3344 Peachtree mortgage note. In connection with the repayment, the Company expects to record a gain on extinguishment of debt of $429,000 which represents the unamortized premium recorded on the note at the time of the Merger.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments At June 30, 2017 , the Company had outstanding letters of credit and performance bonds totaling $3.9 million . As a lessor, the Company had $180.9 million in future obligations under leases to fund tenant improvements and other future construction obligations at June 30, 2017 . As a lessee, the Company had future obligations under ground and other operating leases of $210.1 million at June 30, 2017 . Litigation The Company is subject to various legal proceedings, claims and administrative proceedings arising in the ordinary course of business, some of which are expected to be covered by liability insurance. Management makes assumptions and estimates concerning the likelihood and amount of any potential loss relating to these matters using the latest information available. The Company records a liability for litigation if an unfavorable outcome is probable and the amount of loss or range of loss can be reasonably estimated. If an unfavorable outcome is probable and a reasonable estimate of the loss is a range, the Company accrues the best estimate within the range. If no amount within the range is a better estimate than any other amount, the Company accrues the minimum amount within the range. If an unfavorable outcome is probable but the amount of the loss cannot be reasonably estimated, the Company discloses the nature of the litigation and indicates that an estimate of the loss or range of loss cannot be made. If an unfavorable outcome is reasonably possible and the estimated loss is material, the Company discloses the nature and estimate of the possible loss of the litigation. The Company does not disclose information with respect to litigation where an unfavorable outcome is considered to be remote or where the estimated loss would not be material. Based on current expectations, such matters, both individually and in the aggregate, are not expected to have a material adverse effect on the liquidity, results of operations, business or financial condition of the Company.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY On June 19, 2017, the Company declared a cash dividend of $0.06 per common share, which was paid July 13, 2017 to shareholders of record on July 3, 2017. In May 2017, certain holders of CPLP units redeemed 951,818 units in exchange for shares of the Company's common stock. The aggregate value at the time of these transactions was $ 8.1 million based upon the value of the Company's common stock at the time of the transactions. In 2015, the Board of Directors of the Company authorized the repurchase of up to $100 million of its outstanding common shares. The plan expires on September 8, 2017 . The repurchases may be executed in the open market, through private negotiations, or in other transactions permitted under applicable law. The timing, manner, price and amount of any repurchases will be determined by the Company in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The share repurchase program may be suspended or discontinued at any time. No shares were repurchased during the six months ended June 30, 2017.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The Company has several types of stock-based compensation - stock options, restricted stock, and restricted stock units (“RSUs”) - which are described in note 13 of notes to consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2016 . The expense related to a portion of the stock-based compensation awards is fixed. The expense related to other stock-based compensation awards fluctuates from period to period dependent, in part, on the Company's stock price and stock performance relative to its peers. The Company recorded stock-based compensation expense, net of forfeitures, of $2.9 million and $340,000 for the three months ended June 30, 2017 and 2016 , respectively, and $4.6 million and $4.6 million for the six months ended June 30, 2017 and 2016 , respectively. The Company maintains the 2009 Incentive Stock Plan (the "2009 Plan") and the 2005 Restricted Stock Unit Plan (the “RSU Plan”). Under the 2009 Plan, the Company made restricted stock grants in 2017 of 308,289 shares to key employees, which vest ratably over a three -year period. Under the RSU Plan, the Company awarded two types of performance-based RSUs in 2017 to key employees based on the following metrics: (1) Total Stockholder Return of the Company, as defined in the RSU Plan, as compared to the companies in the SNL US REIT Office index (“TSR RSUs”), and (2) the ratio of cumulative funds from operations per share to targeted cumulative funds from operations per share (“FFO RSUs”) as defined in the RSU Plan. The performance period for both awards is January 1, 2017 to December 31, 2019, and the targeted units awarded of TSR RSUs and FFO RSUs was 267,013 and 132,266 , respectively. The ultimate payout of these awards can range from 0% to 200% of the targeted number of units depending on the achievement of the market and performance metrics described above. These RSU awards cliff vest on December 31, 2019 and are to be settled in cash with payment dependent on upon attainment of required service, market, and performance criteria. The number of RSUs vesting will be determined by the Compensation Committee, and the payout per unit will be equal to the average closing price on each trading day during the 30 -day period ending on December 31, 2019. The Company expenses an estimate of the fair value of the TSR RSUs over the performance period using a quarterly Monte Carlo valuation. The FFO RSUs are expensed over the vesting period using the fair market value of the Company's stock at the reporting date multiplied by the anticipated number of units to be paid based on the current estimate of what the ratio is expected to be upon vesting. Dividend equivalents on the TSR RSUs and the FFO RSUs will also be paid based upon the percentage vested. In addition, the Company granted 166,132 time-vested RSUs to key employees in 2017. The value of each unit is equal to the fair value of one share of common stock. The vesting period for this award is three years. These RSUs are to be settled in cash with payment dependent upon the attainment of the required service criteria. Dividend equivalents will be paid upon vesting based on the number of RSUs granted with such payments made concurrently with payment of common dividends. During the three months ended June 30, 2017, the Company issued 120,878 shares of common stock at fair value to members of its board of directors in lieu of fees, and recorded $1.0 million in general and administrative expense in the three months ended June 30, 2017 related to the issuances.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2017 and 2016 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Earnings per Common Share - basic: Numerator: Income from continuing operations $ 170,945 $ 242 $ 175,803 $ 14,937 Net income attributable to noncontrolling interests in CPLP (2,856 ) — (2,957 ) — Net income attributable to other noncontrolling interests — — (6 ) — Income from continuing operations available for common stockholders 168,089 242 172,840 14,937 Income from discontinued operations — 7,523 — 15,624 Net income available for common stockholders $ 168,089 $ 7,765 $ 172,840 $ 30,561 Denominator: Weighted average common shares - basic 419,402 210,129 411,137 210,516 Earnings per common share - basic: Income from continuing operations available for common stockholders $ 0.40 $ — $ 0.42 $ 0.07 Income from discontinued operations available for common stockholders — 0.04 — 0.08 Earnings per common share - basic $ 0.40 $ 0.04 $ 0.42 $ 0.15 Earnings per common share - diluted: Numerator: Income from continuing operations $ 170,945 $ 242 $ 175,803 $ 14,937 Net income attributable to other noncontrolling interests from continuing operations — — (6 ) — Income from continuing operations available for common stockholders before net income attributable to noncontrolling interests in CPLP 170,945 242 175,797 14,937 Income from discontinued operations available for common stockholders — 7,523 — 15,624 Net income available for common stockholders before net income attributable to noncontrolling interests in CPLP $ 170,945 $ 7,765 $ 175,797 $ 30,561 Denominator: Weighted average common shares - basic 419,402 210,129 411,137 210,516 Add: Potential dilutive common shares - stock options 320 233 306 171 Weighted average units of CPLP convertible into common shares 7,458 — 7,784 — Weighted average common shares - diluted 427,180 210,362 419,227 210,687 Earnings per common share - diluted: Income from continuing operations available for common stockholders before net income attributable to noncontrolling interests in CPLP $ 0.40 $ — $ 0.42 $ 0.07 Income from discontinued operations available for common stockholders — 0.04 — 0.08 Earnings per common share - diluted $ 0.40 $ 0.04 $ 0.42 $ 0.15 Weighted average anti-dilutive stock options outstanding 731 1,129 744 1,131

Reportable Segments

Reportable Segments	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
REPORTABLE SEGMENTS	REPORTABLE SEGMENTS The Company's segments are based on the Company's method of internal reporting which classifies operations by property type and geographical area. The segments by property type are: Office and Mixed-Use. The segments by geographical region are: Atlanta, Austin, Charlotte, Orlando, Phoenix, Tampa, and Other. Subsequent to the Merger completed in the fourth quarter of 2016, the Company added the Orlando, Phoenix, and Tampa segments. These reportable segments represent an aggregation of operating segments reported to the Chief Operating Decision Maker based on similar economic characteristics that include the type of property and the geographical location. Each segment includes both consolidated operations and the Company's share of unconsolidated joint venture operations. Company management evaluates the performance of its reportable segments in part based on net operating income (“NOI”). NOI represents rental property revenues less rental property operating expenses. NOI is not a measure of cash flows or operating results as measured by GAAP, is not indicative of cash available to fund cash needs and should not be considered an alternative to cash flows as a measure of liquidity. All companies may not calculate NOI in the same manner. The Company considers NOI to be an appropriate supplemental measure to net income as it helps both management and investors understand the core operations of the Company's operating assets. NOI excludes corporate general and administrative expenses, interest expense, depreciation and amortization, impairments, gains/loss on sales of real estate, and other non-operating items. Segment net income, amount of capital expenditures, and total assets are not presented in the following tables because management does not utilize these measures when analyzing its segments or when making resource allocation decisions. Information on the Company's segments along with a reconciliation of NOI to net income available to common stockholders for the three and six months ended June 30, 2017 and 2016 are as follows (in thousands): Three Months Ended June 30, 2017 Office Mixed-Use Total Net Operating Income: Atlanta $ 29,218 $ 853 $ 30,071 Austin 14,852 — 14,852 Charlotte 15,202 — 15,202 Orlando 3,318 — 3,318 Tampa 7,451 — 7,451 Phoenix 8,838 — 8,838 Other 383 — 383 Total Net Operating Income $ 79,262 $ 853 $ 80,115 Three Months Ended June 30, 2016 Office Mixed-Use Total Net Operating Income: Houston $ 25,125 $ — $ 25,125 Atlanta 21,572 1,742 23,314 Austin 5,763 — 5,763 Charlotte 4,819 — 4,819 Other (13 ) — (13 ) Total Net Operating Income $ 57,266 $ 1,742 $ 59,008 Six Months Ended June 30, 2017 Office Mixed-Use Total Net Operating Income: Atlanta $ 59,190 $ 3,126 $ 62,316 Austin 29,039 — 29,039 Charlotte 30,627 — 30,627 Orlando 7,108 — 7,108 Tampa 14,287 — 14,287 Phoenix 16,056 — 16,056 Other 848 — 848 Total Net Operating Income $ 157,155 $ 3,126 $ 160,281 Six Months Ended June 30, 2016 Office Mixed-Use Total Net Operating Income: Houston $ 50,443 $ — $ 50,443 Atlanta 44,178 3,348 47,526 Austin 10,955 — 10,955 Charlotte 9,574 — 9,574 Other 23 — 23 Total Net Operating Income $ 115,173 $ 3,348 $ 118,521 The following reconciles Net Operating Income to Net Income for each of the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Net Operating Income $ 80,115 $ 59,008 $ 160,281 $ 118,521 Net operating income from unconsolidated joint (7,609 ) (6,954 ) (16,783 ) (13,600 ) Net operating income from discontinued operations — (25,126 ) — (50,444 ) Fee income 1,854 1,824 3,791 4,023 Other income 3,174 27 8,600 417 Reimbursed expenses (907 ) (798 ) (1,772 ) (1,668 ) General and administrative expenses (8,618 ) (4,691 ) (14,828 ) (12,934 ) Interest expense (8,523 ) (5,369 ) (18,264 ) (10,808 ) Depreciation and amortization (50,040 ) (16,641 ) (104,924 ) (33,182 ) Acquisition and transaction costs (246 ) (2,424 ) (2,177 ) (2,443 ) Gain on extinguishment of debt 1,829 — 1,829 — Other expenses (236 ) (152 ) (612 ) (507 ) Income from unconsolidated joint ventures 40,320 1,784 40,901 3,618 Gain (loss) on sale of investment properties 119,832 (246 ) 119,761 13,944 Income from discontinued operations — 7,523 — 15,624 Net Income $ 170,945 $ 7,765 $ 175,803 $ 30,561 Revenues by reportable segment, including a reconciliation to total rental property revenues on the condensed consolidated statements of operations for three and six months ended June 30, 2017 and 2016 are as follows (in thousands): Three Months Ended June 30, 2017 Office Mixed-Use Total Revenues: Atlanta $ 46,293 $ 1,358 $ 47,651 Austin 25,429 — 25,429 Charlotte 22,599 — 22,599 Orlando 6,331 — 6,331 Tampa 11,795 — 11,795 Phoenix 11,879 — 11,879 Other 758 — 758 Total segment revenues 125,084 1,358 126,442 Less Company's share of rental property revenues from unconsolidated joint ventures (11,077 ) (1,358 ) (12,435 ) Total rental property revenues $ 114,007 $ — $ 114,007 Three Months Ended June 30, 2016 Office Mixed-Use Total Revenues: Houston $ 44,281 $ 44,281 Atlanta 36,779 3,026 39,805 Austin 10,417 — 10,417 Charlotte 6,388 — 6,388 Other 91 — 91 Total segment revenues 97,956 3,026 100,982 Less discontinued operations (44,281 ) — (44,281 ) Less Company's share of rental property revenues from unconsolidated joint ventures (7,221 ) (3,026 ) (10,247 ) Total rental property revenues $ 46,454 $ — $ 46,454 Six Months Ended June 30, 2017 Office Mixed-Use Total Revenues Atlanta $ 93,814 $ 5,049 $ 98,863 Austin 49,963 — 49,963 Charlotte 45,342 — 45,342 Orlando 12,972 — 12,972 Tampa 23,098 — 23,098 Phoenix 21,997 — 21,997 Other 1,575 — 1,575 Total segment revenues $ 248,761 $ 5,049 $ 253,810 Less Company's share of rental property revenues from unconsolidated joint ventures (22,237 ) (5,049 ) (27,286 ) Total rental property revenues $ 226,524 $ — $ 226,524 Six Months Ended June 30, 2016 Office Mixed-Use Total Revenues: Houston $ 87,403 $ — $ 87,403 Atlanta 73,995 6,003 $ 79,998 Austin 19,356 — $ 19,356 Charlotte 12,734 — $ 12,734 Other 231 — $ 231 Total segment revenues 193,719 6,003 199,722 Less discontinued operations (87,403 ) — (87,403 ) Less Company's share of rental property revenues from unconsolidated joint ventures (14,509 ) (6,003 ) (20,512 ) Total rental property revenues $ 91,807 $ — $ 91,807

Description of Business and B20

Description of Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements are unaudited and were prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”).
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers." Under the new guidance, companies will recognize revenue when the seller satisfies a performance obligation, which would be when the buyer takes control of the good or service. ASU 2015-14, "Revenue from Contracts with Customers," was subsequently issued modifying the effective date to periods beginning after December 15, 2017, with early adoption permitted for periods beginning after December 15, 2016. The standard allows for either "full retrospective" adoption, meaning the standard is applied to all of the periods presented, or "modified retrospective" adoption, meaning the standard is applied only to the most recent period presented in the financial statements. The Company expects to adopt this guidance effective January 1, 2018 and is in the process of analyzing the impact of the adoption of this guidance. The new guidance specifically excludes revenue associated with lease contracts. This new guidance could result in different amounts of revenue being recognized and could result in revenue being recognized in different reporting periods than under the current guidance; however, the Company expects that the majority of its non-lease revenues will continue to be recognized during the periods in which services are performed. The Company expects to adopt this guidance using the "modified retrospective" method effective January 1, 2018. The Company is still analyzing potential disclosures that will clearly identify the sources of revenue and the periods over which each is recognized. In February 2016, the FASB issued ASU 2016-02, "Leases," which amends the existing standards for lease accounting by requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting and reporting. The new standard will require lessees to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months and classify such leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification will determine whether the lease expense is recognized based on an effective interest method (finance leases) or on a straight-line basis over the term of the lease (operating leases). Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases, and operating leases. ASU 2016-02 supersedes previous leasing standards. The guidance is effective for the fiscal years beginning after December 15, 2018, with early adoption permitted. The Company expects to adopt this guidance using the "modified retrospective" method effective January 1, 2019, and is currently assessing the potential impact of adopting the new guidance. In August 2016, the FASB issued ASU 2016-15, "Classification of Certain Cash Receipts and Cash Payments" ("ASU 2016-15") which updated ASC Topic 230, "Statement of Cash Flows." ASU 2016-15 clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows to reduce diversity in practice with respect to (i) debt prepayment or debt extinguishment costs, (ii) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, (iii) contingent consideration payments made after a business combination, (iv) proceeds from the settlement of insurance claims, (v) proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, (vi) distributions received from equity method investees, (vii) beneficial interests in securitization transactions, and (viii) separately identifiable cash flows and application of the predominance principle. ASU 2016-15 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017, with early adoption permitted. The Company will adopt this ASU in 2018. In November 2016, the FASB issued ASU 2016-18, "Restricted Cash" ("ASU 2016-18") which updated ASC Topic 230, "Statement of Cash Flows." ASU 2016-18 will require companies to include restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This update is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017, with early adoption permitted. Effective January 1, 2017, the Company adopted ASU 2016-09, "Improvements to Employee Share-Based Payment Accounting." Under this ASU, the additional paid-in capital pool is eliminated, and an entity recognizes all excess tax benefits and tax deficiencies as income tax expense or benefit in the income statement. This ASU also eliminated the requirement to defer recognition of an excess tax benefit until all benefits are realized through a reduction to taxes payable. In the first quarter of 2017, the Company changed the treatment of excess tax benefits as operating cash flows in the statement of cash flows. This ASU also stipulates that cash payments to tax authorities in connection with shares withheld to meet statutory tax withholding requirements be presented as a financing activity in the statement of cash flows. This ASU was adopted prospectively effective January 1, 2017; therefore, prior periods have not been restated to conform to the current period presentation. In January 2017, the FASB issued ASU 2017-01, "Clarifying the Definition of a Business," which provides a more narrow definition of a business to be used in determining the accounting treatment of an acquisition. As a result, many acquisitions that previously qualified as business combinations will be treated as asset acquisitions. For asset acquisitions, acquisition costs may be capitalized, and the purchase price may be allocated on a relative fair value basis. ASU 2017-01 is effective prospectively for the Company on January 1, 2018, with early adoption permitted. The Company expects that most of its future acquisitions will qualify as asset acquisitions. In February 2017, the FASB issued ASU No. 2017-05, “Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets” (“ASU 2017-05”). ASU 2017-05 updates the definition of an “in substance nonfinancial asset” and clarifies the derecognition guidance for nonfinancial assets to conform with the new revenue recognition standard. The Company is currently assessing the potential impact that the adoption of ASU 2017-05 will have on its consolidated financial statements. This ASU is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017. The Company expects to adopt this guidance using the "modified retrospective" method effective January 1, 2018. In May 2017, FASB issued ASU 2017-09, "Scope of Modification Accounting", which amends the scope of modification accounting for share-based payment arrangements and provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under ASC 718. This update is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017, with early adoption permitted.

Transactions With Parkway Pro21

Transactions With Parkway Properties, Inc. (Tables)	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Summary of discontinued operations	The following table includes a summary of discontinued operations of the Company for the three and six months ended June 30, 2016 (in thousands): Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Rental property revenues $ 44,281 $ 87,404 Rental property operating expenses (19,155 ) (36,960 ) Other revenues 102 288 Interest expense (1,965 ) (3,940 ) Depreciation and amortization (15,740 ) (31,168 ) Income from discontinued operations $ 7,523 $ 15,624 Cash provided by operating activities $ 23,253 $ 17,012 Cash used in investing activities $ (9,375 ) $ (18,112 )

Investment in Unconsolidated 22

Investment in Unconsolidated Joint Ventures (Tables)	6 Months Ended
	Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Summary of financial data and principal activities of unconsolidated joint ventures	The following table summarizes balance sheet data of the Company's unconsolidated joint ventures as of June 30, 2017 and December 31, 2016 (in thousands): Total Assets Total Debt Total Equity Company’s Investment SUMMARY OF FINANCIAL POSITION: 2017 2016 2017 2016 2017 2016 2017 2016 Terminus Office Holdings $ 267,747 $ 268,242 $ 205,454 $ 207,545 $ 51,112 $ 49,476 $ 25,384 $ 25,686 EP I LLC 1,760 78,537 — 58,029 1,333 18,962 783 18,551 EP II LLC 520 67,754 — 44,969 239 21,743 88 17,606 Charlotte Gateway Village, LLC 125,819 119,054 — — 121,544 116,809 14,163 11,796 HICO Victory Center LP 14,145 14,124 — — 14,141 13,869 9,632 9,506 Carolina Square Holdings LP 88,571 66,922 50,529 23,741 34,087 34,173 18,752 18,325 CL Realty, L.L.C. 7,989 8,047 — — 7,915 7,899 2,874 3,644 DC Charlotte Plaza LLLP 30,780 17,940 — — 24,209 17,073 12,528 8,937 Temco Associates, LLC 4,398 4,368 — — 4,294 4,253 854 829 Wildwood Associates 16,380 16,351 — — 16,262 16,314 (1,169 ) (1) (1,143 ) (1) Crawford Long - CPI, LLC 28,400 27,523 72,070 72,822 (45,106 ) (45,928 ) (21,455 ) (1) (21,866 ) (1) 111 West Rio Building — 59,399 — 12,852 — 32,855 — 52,206 Courvoisier Centre JV, LLC 181,633 172,197 106,500 106,500 68,400 69,479 11,588 11,782 HICO Avalon II, LLC 5,237 — — — 5,237 — 3,928 — AMCO 120 WT Holdings, LLC 11,591 10,446 — — 11,127 9,136 617 184 Other — — — — — — 341 345 $ 784,970 $ 930,904 $ 434,553 $ 526,458 $ 314,794 $ 366,113 $ 78,908 $ 156,388 (1) Negative balances are included in deferred income on the balance sheets. The following table summarizes statement of operations information of the Company's unconsolidated joint ventures for the six months ended June 30, 2017 and 2016 (in thousands): Total Revenues Net Income (Loss) Company's Share of Income (Loss) SUMMARY OF OPERATIONS: 2017 2016 2017 2016 2017 2016 Terminus Office Holdings $ 21,908 $ 20,978 $ 3,178 $ 2,597 $ 1,769 $ 1,298 EP I LLC 4,103 5,991 44,929 1,168 28,525 951 EP II LLC 2,643 2,044 12,967 (1,018 ) 9,725 (823 ) Charlotte Gateway Village, LLC 13,380 17,477 4,734 7,263 2,367 987 HICO Victory Center LP 171 169 171 162 114 81 Carolina Square Holdings LP 40 — (94 ) — — — CL Realty, L.L.C. 2,599 246 2,415 64 430 44 DC Charlotte Plaza LLLP 2 — 2 33 2 18 Temco Associates, LLC 80 147 41 79 25 119 Wildwood Associates — — (51 ) (56 ) (26 ) (28 ) Crawford Long - CPI, LLC 6,033 6,028 1,516 1,346 758 673 111 West Rio Building — — — — (2,593 ) — Courvoisier Centre JV, LLC 6,554 — (1,083 ) — (195 ) — HICO Avalon II, LLC — — — — — — AMCO 120 WT Holdings, LLC — — (12 ) — — — Other — — — — — 298 $ 57,513 $ 53,080 $ 68,713 $ 11,638 $ 40,901 $ 3,618

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Intangible assets on the balance sheets as of June 30, 2017 and December 31, 2016 included the following (in thousands): June 30, 2017 December 31, 2016 In-place leases, net of accumulated amortization of $74,308 and $46,899 in 2017 and 2016, respectively $ 170,234 $ 185,251 Above-market tenant leases, net of accumulated amortization of $10,826 and $6,515 in 2017 and 2016, respectively 35,746 40,260 Below-market ground lease, net of accumulated amortization of $207 and $69 in 2017 and 2016, respectively 18,206 18,344 Goodwill 1,674 1,674 $ 225,860 $ 245,529
Summary of goodwill activity	The following is a summary of goodwill activity for the six months ended June 30, 2017 and 2016 (in thousands): Six Months Ended June 30, 2017 2016 Beginning balance $ 1,674 $ 3,647 Allocated to property sales — (21 ) Ending balance $ 1,674 $ 3,626

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of other assets	Other assets on the balance sheets as of June 30, 2017 and December 31, 2016 included the following (in thousands): June 30, 2017 December 31, 2016 Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $23,206 and $23,135 in 2017 and 2016, respectively $ 14,265 $ 15,773 Lease inducements, net of accumulated amortization of $825 and $1,278 in 2017 and 2016, respectively 1,864 2,517 Prepaid expenses and other assets 11,291 8,432 Line of credit deferred financing costs, net of accumulated amortization of $2,691 and $2,264 in 2017 and 2016, respectively 1,780 2,182 Predevelopment costs and earnest money 80 179 $ 29,280 $ 29,083

Notes Payable (Tables)

Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Summary of terms of notes payable	The following table details the terms and amounts of the Company’s outstanding notes payable at June 30, 2017 and December 31, 2016 ($ in thousands): Description Interest Rate Maturity June 30, 2017 December 31, 2016 Term Loan, unsecured 2.42 % 2021 $ 250,000 $ 250,000 Fifth Third Center 3.37 % 2026 148,049 149,516 Colorado Tower 3.45 % 2026 120,000 120,000 Promenade 4.27 % 2022 103,864 105,342 Senior Note, unsecured 4.09 % 2027 100,000 — Credit Facility, unsecured 2.32 % 2019 94,000 134,000 816 Congress 3.75 % 2024 84,095 84,872 3344 Peachtree 4.75 % 2017 77,928 78,971 Meridian Mark Plaza 6.00 % 2020 24,284 24,522 The Pointe 4.01 % 2019 22,730 22,945 One Eleven Congress 6.08 % 2017 — 128,000 The ACS Center 6.45 % 2017 — 127,508 San Jacinto Center 6.05 % 2017 — 101,000 Two Buckhead Plaza 6.43 % 2017 — 52,000 1,024,950 1,378,676 Unamortized premium, net 750 6,792 Unamortized loan costs (6,081 ) (4,548 ) Total Notes Payable $ 1,019,619 $ 1,380,920
Summary of interest recorded	For the three and six months ended June 30, 2017 and 2016 , interest expense was as follows (in thousands): Three Months Ended June 30, 2017 Six Months Ended June 30, 2017 2016 2017 2016 Total interest incurred $ 10,741 $ 8,350 $ 22,072 $ 16,506 Less interest - discontinued operations — (1,965 ) — (3,940 ) Interest capitalized (2,218 ) (1,016 ) (3,808 ) (1,758 ) Total interest expense $ 8,523 $ 5,369 $ 18,264 $ 10,808

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per share	The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2017 and 2016 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Earnings per Common Share - basic: Numerator: Income from continuing operations $ 170,945 $ 242 $ 175,803 $ 14,937 Net income attributable to noncontrolling interests in CPLP (2,856 ) — (2,957 ) — Net income attributable to other noncontrolling interests — — (6 ) — Income from continuing operations available for common stockholders 168,089 242 172,840 14,937 Income from discontinued operations — 7,523 — 15,624 Net income available for common stockholders $ 168,089 $ 7,765 $ 172,840 $ 30,561 Denominator: Weighted average common shares - basic 419,402 210,129 411,137 210,516 Earnings per common share - basic: Income from continuing operations available for common stockholders $ 0.40 $ — $ 0.42 $ 0.07 Income from discontinued operations available for common stockholders — 0.04 — 0.08 Earnings per common share - basic $ 0.40 $ 0.04 $ 0.42 $ 0.15 Earnings per common share - diluted: Numerator: Income from continuing operations $ 170,945 $ 242 $ 175,803 $ 14,937 Net income attributable to other noncontrolling interests from continuing operations — — (6 ) — Income from continuing operations available for common stockholders before net income attributable to noncontrolling interests in CPLP 170,945 242 175,797 14,937 Income from discontinued operations available for common stockholders — 7,523 — 15,624 Net income available for common stockholders before net income attributable to noncontrolling interests in CPLP $ 170,945 $ 7,765 $ 175,797 $ 30,561 Denominator: Weighted average common shares - basic 419,402 210,129 411,137 210,516 Add: Potential dilutive common shares - stock options 320 233 306 171 Weighted average units of CPLP convertible into common shares 7,458 — 7,784 — Weighted average common shares - diluted 427,180 210,362 419,227 210,687 Earnings per common share - diluted: Income from continuing operations available for common stockholders before net income attributable to noncontrolling interests in CPLP $ 0.40 $ — $ 0.42 $ 0.07 Income from discontinued operations available for common stockholders — 0.04 — 0.08 Earnings per common share - diluted $ 0.40 $ 0.04 $ 0.42 $ 0.15 Weighted average anti-dilutive stock options outstanding 731 1,129 744 1,131

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Reconciliation of NOI to net income available to common stockholders	Information on the Company's segments along with a reconciliation of NOI to net income available to common stockholders for the three and six months ended June 30, 2017 and 2016 are as follows (in thousands): Three Months Ended June 30, 2017 Office Mixed-Use Total Net Operating Income: Atlanta $ 29,218 $ 853 $ 30,071 Austin 14,852 — 14,852 Charlotte 15,202 — 15,202 Orlando 3,318 — 3,318 Tampa 7,451 — 7,451 Phoenix 8,838 — 8,838 Other 383 — 383 Total Net Operating Income $ 79,262 $ 853 $ 80,115 Three Months Ended June 30, 2016 Office Mixed-Use Total Net Operating Income: Houston $ 25,125 $ — $ 25,125 Atlanta 21,572 1,742 23,314 Austin 5,763 — 5,763 Charlotte 4,819 — 4,819 Other (13 ) — (13 ) Total Net Operating Income $ 57,266 $ 1,742 $ 59,008 Six Months Ended June 30, 2017 Office Mixed-Use Total Net Operating Income: Atlanta $ 59,190 $ 3,126 $ 62,316 Austin 29,039 — 29,039 Charlotte 30,627 — 30,627 Orlando 7,108 — 7,108 Tampa 14,287 — 14,287 Phoenix 16,056 — 16,056 Other 848 — 848 Total Net Operating Income $ 157,155 $ 3,126 $ 160,281 Six Months Ended June 30, 2016 Office Mixed-Use Total Net Operating Income: Houston $ 50,443 $ — $ 50,443 Atlanta 44,178 3,348 47,526 Austin 10,955 — 10,955 Charlotte 9,574 — 9,574 Other 23 — 23 Total Net Operating Income $ 115,173 $ 3,348 $ 118,521 The following reconciles Net Operating Income to Net Income for each of the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Net Operating Income $ 80,115 $ 59,008 $ 160,281 $ 118,521 Net operating income from unconsolidated joint (7,609 ) (6,954 ) (16,783 ) (13,600 ) Net operating income from discontinued operations — (25,126 ) — (50,444 ) Fee income 1,854 1,824 3,791 4,023 Other income 3,174 27 8,600 417 Reimbursed expenses (907 ) (798 ) (1,772 ) (1,668 ) General and administrative expenses (8,618 ) (4,691 ) (14,828 ) (12,934 ) Interest expense (8,523 ) (5,369 ) (18,264 ) (10,808 ) Depreciation and amortization (50,040 ) (16,641 ) (104,924 ) (33,182 ) Acquisition and transaction costs (246 ) (2,424 ) (2,177 ) (2,443 ) Gain on extinguishment of debt 1,829 — 1,829 — Other expenses (236 ) (152 ) (612 ) (507 ) Income from unconsolidated joint ventures 40,320 1,784 40,901 3,618 Gain (loss) on sale of investment properties 119,832 (246 ) 119,761 13,944 Income from discontinued operations — 7,523 — 15,624 Net Income $ 170,945 $ 7,765 $ 175,803 $ 30,561
Reconciliation of revenue from segments to consolidated	Revenues by reportable segment, including a reconciliation to total rental property revenues on the condensed consolidated statements of operations for three and six months ended June 30, 2017 and 2016 are as follows (in thousands): Three Months Ended June 30, 2017 Office Mixed-Use Total Revenues: Atlanta $ 46,293 $ 1,358 $ 47,651 Austin 25,429 — 25,429 Charlotte 22,599 — 22,599 Orlando 6,331 — 6,331 Tampa 11,795 — 11,795 Phoenix 11,879 — 11,879 Other 758 — 758 Total segment revenues 125,084 1,358 126,442 Less Company's share of rental property revenues from unconsolidated joint ventures (11,077 ) (1,358 ) (12,435 ) Total rental property revenues $ 114,007 $ — $ 114,007 Three Months Ended June 30, 2016 Office Mixed-Use Total Revenues: Houston $ 44,281 $ 44,281 Atlanta 36,779 3,026 39,805 Austin 10,417 — 10,417 Charlotte 6,388 — 6,388 Other 91 — 91 Total segment revenues 97,956 3,026 100,982 Less discontinued operations (44,281 ) — (44,281 ) Less Company's share of rental property revenues from unconsolidated joint ventures (7,221 ) (3,026 ) (10,247 ) Total rental property revenues $ 46,454 $ — $ 46,454 Six Months Ended June 30, 2017 Office Mixed-Use Total Revenues Atlanta $ 93,814 $ 5,049 $ 98,863 Austin 49,963 — 49,963 Charlotte 45,342 — 45,342 Orlando 12,972 — 12,972 Tampa 23,098 — 23,098 Phoenix 21,997 — 21,997 Other 1,575 — 1,575 Total segment revenues $ 248,761 $ 5,049 $ 253,810 Less Company's share of rental property revenues from unconsolidated joint ventures (22,237 ) (5,049 ) (27,286 ) Total rental property revenues $ 226,524 $ — $ 226,524 Six Months Ended June 30, 2016 Office Mixed-Use Total Revenues: Houston $ 87,403 $ — $ 87,403 Atlanta 73,995 6,003 $ 79,998 Austin 19,356 — $ 19,356 Charlotte 12,734 — $ 12,734 Other 231 — $ 231 Total segment revenues 193,719 6,003 199,722 Less discontinued operations (87,403 ) — (87,403 ) Less Company's share of rental property revenues from unconsolidated joint ventures (14,509 ) (6,003 ) (20,512 ) Total rental property revenues $ 91,807 $ — $ 91,807

Description of Business and B28

Description of Business and Basis of Presentation (Details)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percentage of partnership units owned by the Company	98.00%
Distribution of taxable income to qualify as REIT, percentage	100.00%

Real Estate Transactions (Detai

Real Estate Transactions (Details) - Discontinued Operations, Disposed of by Sale - The ACS Center ft² in Thousands, $ in Millions	Jun. 15, 2017USD ($)ft²
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of property (in sq ft) | ft²	996
Gross sales price of property sold	$ 166
Gain from sale of business	$ 119.8

Transactions With Parkway Pro30

Transactions With Parkway Properties, Inc. (Additional Information) (Details)	Oct. 07, 2016Rate	Oct. 06, 2016Rate
Business Acquisition [Line Items]
Stock conversion ratio	12.50%
Parkway
Business Acquisition [Line Items]
Stock conversion ratio		163.00%

Transactions With Parkway Pro31

Transactions With Parkway Properties, Inc. (Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest expense	$ 0	$ (1,965)	$ 0	$ (3,940)
Spin-off
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Rental property revenues		44,281		87,404
Rental property operating expenses		(19,155)		(36,960)
Other revenues		102		288
Interest expense		(1,965)		(3,940)
Depreciation and amortization		(15,740)		(31,168)
Income from discontinued operations		7,523		15,624
Cash provided by operating activities		23,253		17,012
Cash used in investing activities		$ (9,375)		$ (18,112)

Investment in Unconsolidated 32

Investment in Unconsolidated Joint Ventures (Summary of Financial Data and Principal Activities) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
SUMMARY OF FINANCIAL POSITION:
Total Assets	$ 784,970		$ 930,904
Total Debt	434,553		526,458
Total Equity	314,794		366,113
Company’s Investment	78,908		156,388
SUMMARY OF OPERATIONS:
Total Revenues	57,513	$ 53,080
Net Income (Loss)	68,713	11,638
Company's Share of Income (Loss)	40,901	3,618
Terminus Office Holdings
SUMMARY OF FINANCIAL POSITION:
Total Assets	267,747		268,242
Total Debt	205,454		207,545
Total Equity	51,112		49,476
Company’s Investment	25,384		25,686
SUMMARY OF OPERATIONS:
Total Revenues	21,908	20,978
Net Income (Loss)	3,178	2,597
Company's Share of Income (Loss)	1,769	1,298
EP I LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	1,760		78,537
Total Debt	0		58,029
Total Equity	1,333		18,962
Company’s Investment	783		18,551
SUMMARY OF OPERATIONS:
Total Revenues	4,103	5,991
Net Income (Loss)	44,929	1,168
Company's Share of Income (Loss)	28,525	951
EP II LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	520		67,754
Total Debt	0		44,969
Total Equity	239		21,743
Company’s Investment	88		17,606
SUMMARY OF OPERATIONS:
Total Revenues	2,643	2,044
Net Income (Loss)	12,967	(1,018)
Company's Share of Income (Loss)	9,725	(823)
Charlotte Gateway Village, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	125,819		119,054
Total Debt	0		0
Total Equity	121,544		116,809
Company’s Investment	14,163		11,796
SUMMARY OF OPERATIONS:
Total Revenues	13,380	17,477
Net Income (Loss)	4,734	7,263
Company's Share of Income (Loss)	2,367	987
HICO Victory Center LP
SUMMARY OF FINANCIAL POSITION:
Total Assets	14,145		14,124
Total Debt	0		0
Total Equity	14,141		13,869
Company’s Investment	9,632		9,506
SUMMARY OF OPERATIONS:
Total Revenues	171	169
Net Income (Loss)	171	162
Company's Share of Income (Loss)	114	81
Carolina Square Holdings LP
SUMMARY OF FINANCIAL POSITION:
Total Assets	88,571		66,922
Total Debt	50,529		23,741
Total Equity	34,087		34,173
Company’s Investment	18,752		18,325
SUMMARY OF OPERATIONS:
Total Revenues	40	0
Net Income (Loss)	(94)	0
Company's Share of Income (Loss)	0	0
CL Realty, L.L.C.
SUMMARY OF FINANCIAL POSITION:
Total Assets	7,989		8,047
Total Debt	0		0
Total Equity	7,915		7,899
Company’s Investment	2,874		3,644
SUMMARY OF OPERATIONS:
Total Revenues	2,599	246
Net Income (Loss)	2,415	64
Company's Share of Income (Loss)	430	44
DC Charlotte Plaza LLLP
SUMMARY OF FINANCIAL POSITION:
Total Assets	30,780		17,940
Total Debt	0		0
Total Equity	24,209		17,073
Company’s Investment	12,528		8,937
SUMMARY OF OPERATIONS:
Total Revenues	2	0
Net Income (Loss)	2	33
Company's Share of Income (Loss)	2	18
Temco Associates, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	4,398		4,368
Total Debt	0		0
Total Equity	4,294		4,253
Company’s Investment	854		829
SUMMARY OF OPERATIONS:
Total Revenues	80	147
Net Income (Loss)	41	79
Company's Share of Income (Loss)	25	119
Wildwood Associates
SUMMARY OF FINANCIAL POSITION:
Total Assets	16,380		16,351
Total Debt	0		0
Total Equity	16,262		16,314
Company’s Investment	(1,169)		(1,143)
SUMMARY OF OPERATIONS:
Total Revenues	0	0
Net Income (Loss)	(51)	(56)
Company's Share of Income (Loss)	(26)	(28)
Crawford Long - CPI, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	28,400		27,523
Total Debt	72,070		72,822
Total Equity	(45,106)		(45,928)
Company’s Investment	(21,455)		(21,866)
SUMMARY OF OPERATIONS:
Total Revenues	6,033	6,028
Net Income (Loss)	1,516	1,346
Company's Share of Income (Loss)	758	673
111 West Rio Building
SUMMARY OF FINANCIAL POSITION:
Total Assets	0		59,399
Total Debt	0		12,852
Total Equity	0		32,855
Company’s Investment	0		52,206
SUMMARY OF OPERATIONS:
Total Revenues	0	0
Net Income (Loss)	0	0
Company's Share of Income (Loss)	(2,593)	0
Courvoisier Centre JV, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	181,633		172,197
Total Debt	106,500		106,500
Total Equity	68,400		69,479
Company’s Investment	11,588		11,782
SUMMARY OF OPERATIONS:
Total Revenues	6,554	0
Net Income (Loss)	(1,083)	0
Company's Share of Income (Loss)	(195)	0
HICO Avalon II, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	5,237		0
Total Debt	0		0
Total Equity	5,237		0
Company’s Investment	3,928		0
SUMMARY OF OPERATIONS:
Total Revenues	0	0
Net Income (Loss)	0	0
Company's Share of Income (Loss)	0	0
AMCO 120 WT Holdings, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	11,591		10,446
Total Debt	0		0
Total Equity	11,127		9,136
Company’s Investment	617		184
SUMMARY OF OPERATIONS:
Total Revenues	0	0
Net Income (Loss)	(12)	0
Company's Share of Income (Loss)	0	0
Other
SUMMARY OF FINANCIAL POSITION:
Total Assets	0		0
Total Debt	0		0
Total Equity	0		0
Company’s Investment	341		$ 345
SUMMARY OF OPERATIONS:
Total Revenues	0	0
Net Income (Loss)	0	0
Company's Share of Income (Loss)	$ 0	$ 298

Investment in Unconsolidated 33

Investment in Unconsolidated Joint Ventures (Additional Information) (Details) - USD ($) $ in Thousands	May 03, 2017	Jun. 30, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Investment [Line Items]
Net purchase price					$ 167,118	$ 21,088
Net distributions from unconsolidated joint ventures					39,982	4,209
Gain from unconsolidated joint ventures			$ 40,320	$ 1,784	$ 40,901	$ 3,618
EP I, LLC and EP II, LLC
Investment [Line Items]
Net purchase price	$ 199,000
Net distributions from unconsolidated joint ventures	70,000
Gain from unconsolidated joint ventures	$ 37,900
HICO Avalon II, LLC
Investment [Line Items]
Predevelopment costs, funding percentage		75.00%
Development costs, funding percentage		90.00%
HICO Avalon II, LLC | Hines II
Investment [Line Items]
Predevelopment costs, funding percentage		25.00%
Development costs, funding percentage		10.00%

Intangible Assets (Components o

Intangible Assets (Components of Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ 85,341	$ 53,483
Goodwill	1,674	1,674	$ 3,626	$ 3,647
Total intangible assets	225,860	245,529
In-place Leases
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	170,234	185,251
Accumulated amortization	74,308	46,899
Above-market Tenant Leases
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	35,746	40,260
Accumulated amortization	10,826	6,515
Below-market Ground Lease
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	18,206	18,344
Accumulated amortization	$ 207	$ 69

Intangible Assets (Goodwill Rol

Intangible Assets (Goodwill Rollforward) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Goodwill [Roll Forward]
Beginning balance	$ 1,674	$ 3,647
Allocated to property sales	0	(21)
Ending balance	$ 1,674	$ 3,626

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $23,206 and $23,135 in 2017 and 2016, respectively	$ 14,265	$ 15,773
Lease inducements, net of accumulated amortization of $825 and $1,278 in 2017 and 2016, respectively	1,864	2,517
Prepaid expenses and other assets	11,291	8,432
Line of credit deferred financing costs, net of accumulated amortization of $2,691 and $2,264 in 2017 and 2016, respectively	1,780	2,182
Predevelopment costs and earnest money	80	179
Total other assets	29,280	29,083
Accumulated depreciation of furniture, fixtures and equipment, leasehold improvements, and other deferred costs	23,206	23,135
Accumulated amortization of lease inducements	825	1,278
Accumulated amortization of line of credit deferred financing costs	$ 2,691	$ 2,264

Notes Payable (Terms of Notes P

Notes Payable (Terms of Notes Payable) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Notes Payable, Gross	$ 1,024,950	$ 1,378,676
Unamortized premium, net	750	6,792
Unamortized loan costs	(6,081)	(4,548)
Total Notes Payable	$ 1,019,619	1,380,920
Credit Facility, unsecured
Debt Instrument [Line Items]
Interest Rate	2.42%
Notes Payable, Gross	$ 250,000	250,000
Mortgage Debt | Fifth Third Center
Debt Instrument [Line Items]
Interest Rate	3.37%
Notes Payable, Gross	$ 148,049	149,516
Mortgage Debt | Colorado Tower
Debt Instrument [Line Items]
Interest Rate	3.45%
Notes Payable, Gross	$ 120,000	120,000
Mortgage Debt | Promenade
Debt Instrument [Line Items]
Interest Rate	4.27%
Notes Payable, Gross	$ 103,864	105,342
Mortgage Debt | 816 Congress
Debt Instrument [Line Items]
Interest Rate	3.75%
Notes Payable, Gross	$ 84,095	84,872
Mortgage Debt | 3344 Peachtree
Debt Instrument [Line Items]
Interest Rate	4.75%
Notes Payable, Gross	$ 77,928	78,971
Mortgage Debt | Meridian Mark Plaza
Debt Instrument [Line Items]
Interest Rate	6.00%
Notes Payable, Gross	$ 24,284	24,522
Mortgage Debt | The Pointe
Debt Instrument [Line Items]
Interest Rate	4.01%
Notes Payable, Gross	$ 22,730	22,945
Mortgage Debt | One Eleven Congress
Debt Instrument [Line Items]
Interest Rate	6.08%
Notes Payable, Gross	$ 0	128,000
Mortgage Debt | The ACS Center
Debt Instrument [Line Items]
Interest Rate	6.45%
Notes Payable, Gross	$ 0	127,508
Mortgage Debt | San Jacinto Center
Debt Instrument [Line Items]
Interest Rate	6.048%
Notes Payable, Gross	$ 0	101,000
Mortgage Debt | Two Buckhead Plaza
Debt Instrument [Line Items]
Interest Rate	6.43%
Notes Payable, Gross	$ 0	52,000
Senior Note, unsecured
Debt Instrument [Line Items]
Interest Rate	4.09%
Notes Payable, Gross	$ 100,000	0
Credit Facility, unsecured
Debt Instrument [Line Items]
Interest Rate	2.32%
Notes Payable, Gross	$ 94,000	$ 134,000

Notes Payable (Credit Facility)

Notes Payable (Credit Facility) (Details) - Credit Facility	6 Months Ended
	Jun. 30, 2017USD ($)
Line of Credit Facility [Line Items]
Senior unsecured line of credit	$ 500,000,000
Maximum borrowing capacity	$ 750,000,000
Minimum fixed charge coverage ratio	1.50
Overall leverage ratio (no more than)	60.00%
Minimum shareholders' equity	$ 1,000,000,000
Available borrowing capacity	$ 405,000,000
LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	1.10%
Federal Funds Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	0.50%
One-month LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	1.00%
Minimum
Line of Credit Facility [Line Items]
Unencumbered interest coverage ratio	2
Commitment fee percentage	0.15%
Minimum | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	1.10%
Minimum | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	0.10%
Maximum
Line of Credit Facility [Line Items]
Commitment fee percentage	0.30%
Maximum | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	1.45%
Maximum | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	0.45%

Notes Payable (Term Loan) (Deta

Notes Payable (Term Loan) (Details) - Term Loan	6 Months Ended
	Jun. 30, 2017USD ($)
Debt Instrument [Line Items]
Unsecured term loan	$ 250,000,000
LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.20%
LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.20%
LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.70%
Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.50%
One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.00%
Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.00%
Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.75%

Notes Payable (Unsecured Senior

Notes Payable (Unsecured Senior Notes) (Details) - Unsecured Senior Notes	1 Months Ended		6 Months Ended
	Jul. 31, 2017USD ($)	Apr. 30, 2017USD ($)tranche	Jun. 30, 2017USD ($)
Debt Instrument [Line Items]
Debt amount		$ 350,000,000
Number of tranches | tranche		2
Interest rate (percent)			4.09%
Minimum fixed charge coverage ratio			1.50
Overall leverage ratio (no more than)			60.00%
Minimum shareholders' equity			$ 1,900,000,000
Minimum
Debt Instrument [Line Items]
Unencumbered interest coverage ratio			2
10-year Note with Interest Rate of 4.09%
Debt Instrument [Line Items]
Debt amount		$ 100,000,000
Debt term		10 years
Interest rate (percent)		4.09%
8-year Note with Interest Rate of 3.91% | Scenario, Forecast
Debt Instrument [Line Items]
Debt amount	$ 250,000,000
Debt term	8 years
Interest rate (percent)	3.91%

Notes Payable (Fair Value) (Det

Notes Payable (Fair Value) (Details) - USD ($) $ in Billions	Jun. 30, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Notes payable, fair value	$ 1	$ 1.4

Notes Payable (Other Informatio

Notes Payable (Other Information) (Details) - USD ($)	1 Months Ended				2 Months Ended	3 Months Ended		6 Months Ended
	Jul. 27, 2017	Jun. 30, 2017	May 31, 2017	Apr. 30, 2017	May 31, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Debt Disclosure [Abstract]
Total interest incurred						$ 10,741,000	$ 8,350,000	$ 22,072,000	$ 16,506,000
Less interest - discontinued operations						0	(1,965,000)	0	(3,940,000)
Interest capitalized						(2,218,000)	(1,016,000)	(3,808,000)	(1,758,000)
Total interest expense						8,523,000	5,369,000	18,264,000	10,808,000
Extinguishment of Debt [Line Items]
Gain (loss) on extinguishment of debt					$ 2,200,000	$ 1,829,000	$ 0	$ 1,829,000	$ 0
Mortgage Debt | One Eleven Congress
Extinguishment of Debt [Line Items]
Amount repaid in full				$ 128,000,000
Mortgage Debt | San Jacinto Center
Extinguishment of Debt [Line Items]
Amount repaid in full				$ 101,000,000
Mortgage Debt | Two Buckhead Plaza
Extinguishment of Debt [Line Items]
Amount repaid in full			$ 52,000,000
Mortgage Debt | ACS Center
Extinguishment of Debt [Line Items]
Amount repaid in full		$ 127,000,000
Gain (loss) on extinguishment of debt		$ (376,000)
Mortgage Debt | 3344 Peachtree | Subsequent Event
Extinguishment of Debt [Line Items]
Amount repaid in full	$ 77,900,000
Gain (loss) on extinguishment of debt	$ 429,000

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit and performance bonds	$ 3.9
Future obligations under leases to fund tenant improvements and other future construction obligations	180.9
Future obligations under ground and other operating leases	$ 210.1

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	Jul. 13, 2017	Jun. 19, 2017	May 31, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2015
Equity [Abstract]
Cash dividend declared (in usd per share)		$ 0.06		$ 0.06	$ 0.08	$ 0.18	$ 0.16
Class of Stock [Line Items]
Value of shares redeemed						$ 0
Value of shares authorized to be repurchased								$ 100,000,000
Number of shares repurchased						0
CPLP
Class of Stock [Line Items]
Aggregate value of units redeemed (in shares)			951,818
Value of shares redeemed			$ 8,100,000
Subsequent Event
Class of Stock [Line Items]
Cash dividend paid (in usd per share)	$ 0.06

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)awardshares	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)awardshares	Jun. 30, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, net of forfeitures | $	$ 2,900	$ 340	$ 4,600	$ 4,600
Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares of common stock issued in lieu of fees	120,878
Value of common stock issued in lieu of fees | $	$ 1,000
Restricted Stock | Key Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted			308,289
Vesting period			3 years
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Types of performance-based RSUs | award	2		2
Ultimate payout, minimum (as a percent)			0.00%
Ultimate payout, maximum (as a percent)			200.00%
Number of trading days used to determine average closing price			30 days
TSR RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted			267,013
FFO RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted			132,266
Time-vested RSUs | Key Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted			166,132
Vesting period			3 years

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Numerator:
Income from continuing operations	$ 170,945	$ 242	$ 175,803	$ 14,937
Income from continuing operations available for common stockholders	168,089	242	172,840	14,937
Income from discontinued operations	0	7,523	0	15,624
Net income available for common stockholders	$ 168,089	$ 7,765	$ 172,840	$ 30,561
Denominator:
Weighted average common shares - basic	419,402	210,129	411,137	210,516
Income from continuing operations available for common stockholders	$ 0.40	$ 0	$ 0.42	$ 0.07
Income from discontinued operations available for common stockholders	0	0.04	0	0.08
Earnings per common share - basic (in usd per share)	$ 0.40	$ 0.04	$ 0.42	$ 0.15
Numerator:
Income from continuing operations	$ 170,945	$ 242	$ 175,803	$ 14,937
Income from continuing operations available for common stockholders before net income attributable to noncontrolling interests in CPLP	170,945	242	175,797	14,937
Income from discontinued operations available for common stockholders	0	7,523	0	15,624
Net income available for common stockholders before net income attributable to noncontrolling interests in CPLP	$ 170,945	$ 7,765	$ 175,797	$ 30,561
Denominator:
Weighted average shares — basic	419,402	210,129	411,137	210,516
Add:
Potential dilutive common shares - stock options	320	233	306	171
Weighted average units of CPLP convertible into common shares	7,458	0	7,784	0
Weighted average common shares - diluted	427,180	210,362	419,227	210,687
Income from continuing operations available for common stockholders before net income attributable to noncontrolling interests in CPLP	$ 0.40	$ 0	$ 0.42	$ 0.07
Income from discontinued operations available for common stockholders	0	0.04	0	0.08
Earnings per common share - diluted	$ 0.40	$ 0.04	$ 0.42	$ 0.15
Stock Option
Add:
Weighted average anti-dilutive stock options outstanding	731	1,129	744	1,131
CPLP
Numerator:
Net income attributable to other noncontrolling interests from continuing operations	$ (2,856)	$ 0	$ (2,957)	$ 0
Numerator:
Net income attributable to other noncontrolling interests from continuing operations	(2,856)	0	(2,957)	0
Other Noncontrolling Interests
Numerator:
Net income attributable to other noncontrolling interests from continuing operations	0	0	(6)	0
Numerator:
Net income attributable to other noncontrolling interests from continuing operations	$ 0	$ 0	$ (6)	$ 0

Reportable Segments (Segment Ne

Reportable Segments (Segment Net Operating Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Total Net Operating Income	$ 80,115	$ 59,008	$ 160,281	$ 118,521
Houston
Segment Reporting Information [Line Items]
Total Net Operating Income		25,125		50,443
Atlanta
Segment Reporting Information [Line Items]
Total Net Operating Income	30,071	23,314	62,316	47,526
Austin
Segment Reporting Information [Line Items]
Total Net Operating Income	14,852	5,763	29,039	10,955
Charlotte
Segment Reporting Information [Line Items]
Total Net Operating Income	15,202	4,819	30,627	9,574
Orlando
Segment Reporting Information [Line Items]
Total Net Operating Income	3,318		7,108
Tampa
Segment Reporting Information [Line Items]
Total Net Operating Income	7,451		14,287
Phoenix
Segment Reporting Information [Line Items]
Total Net Operating Income	8,838		16,056
Other
Segment Reporting Information [Line Items]
Total Net Operating Income	383	(13)	848	23
Office
Segment Reporting Information [Line Items]
Total Net Operating Income	79,262	57,266	157,155	115,173
Office | Houston
Segment Reporting Information [Line Items]
Total Net Operating Income		25,125		50,443
Office | Atlanta
Segment Reporting Information [Line Items]
Total Net Operating Income	29,218	21,572	59,190	44,178
Office | Austin
Segment Reporting Information [Line Items]
Total Net Operating Income	14,852	5,763	29,039	10,955
Office | Charlotte
Segment Reporting Information [Line Items]
Total Net Operating Income	15,202	4,819	30,627	9,574
Office | Orlando
Segment Reporting Information [Line Items]
Total Net Operating Income	3,318		7,108
Office | Tampa
Segment Reporting Information [Line Items]
Total Net Operating Income	7,451		14,287
Office | Phoenix
Segment Reporting Information [Line Items]
Total Net Operating Income	8,838		16,056
Office | Other
Segment Reporting Information [Line Items]
Total Net Operating Income	383	(13)	848	23
Mixed-Use
Segment Reporting Information [Line Items]
Total Net Operating Income	853	1,742	3,126	3,348
Mixed-Use | Houston
Segment Reporting Information [Line Items]
Total Net Operating Income		0		0
Mixed-Use | Atlanta
Segment Reporting Information [Line Items]
Total Net Operating Income	853	1,742	3,126	3,348
Mixed-Use | Austin
Segment Reporting Information [Line Items]
Total Net Operating Income	0	0	0	0
Mixed-Use | Charlotte
Segment Reporting Information [Line Items]
Total Net Operating Income	0	0	0	0
Mixed-Use | Orlando
Segment Reporting Information [Line Items]
Total Net Operating Income	0		0
Mixed-Use | Tampa
Segment Reporting Information [Line Items]
Total Net Operating Income	0		0
Mixed-Use | Phoenix
Segment Reporting Information [Line Items]
Total Net Operating Income	0		0
Mixed-Use | Other
Segment Reporting Information [Line Items]
Total Net Operating Income	$ 0	$ 0	$ 0	$ 0

Reportable Segments (Reconcilia

Reportable Segments (Reconciliation of Net Income to Net Operating Income) (Details) - USD ($)	2 Months Ended	3 Months Ended		6 Months Ended
	May 31, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting [Abstract]
Net Operating Income		$ 80,115,000	$ 59,008,000	$ 160,281,000	$ 118,521,000
Net operating income from unconsolidated joint ventures		(7,609,000)	(6,954,000)	(16,783,000)	(13,600,000)
Net operating income from discontinued operations		0	(25,126,000)	0	(50,444,000)
Fee income		1,854,000	1,824,000	3,791,000	4,023,000
Other income		3,174,000	27,000	8,600,000	417,000
Reimbursed expenses		(907,000)	(798,000)	(1,772,000)	(1,668,000)
General and administrative expenses		(8,618,000)	(4,691,000)	(14,828,000)	(12,934,000)
Interest expense		(8,523,000)	(5,369,000)	(18,264,000)	(10,808,000)
Depreciation and amortization		(50,040,000)	(16,641,000)	(104,924,000)	(33,182,000)
Acquisition and transaction costs		(246,000)	(2,424,000)	(2,177,000)	(2,443,000)
Gain on extinguishment of debt	$ 2,200,000	1,829,000	0	1,829,000	0
Other expenses		(236,000)	(152,000)	(612,000)	(507,000)
Income from unconsolidated joint ventures		40,320,000	1,784,000	40,901,000	3,618,000
Gain (loss) on sale of investment properties		119,832,000	(246,000)	119,761,000	13,944,000
Income from discontinued operations		0	7,523,000	0	15,624,000
Net income		$ 170,945,000	$ 7,765,000	$ 175,803,000	$ 30,561,000

Reportable Segments (Segment Re

Reportable Segments (Segment Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Total rental property revenues	$ 114,007	$ 46,454	$ 226,524	$ 91,807
Office
Segment Reporting Information [Line Items]
Total rental property revenues	114,007	46,454	226,524	91,807
Mixed-Use
Segment Reporting Information [Line Items]
Total rental property revenues	0	0	0	0
Operating Segments
Segment Reporting Information [Line Items]
Total rental property revenues	126,442	100,982	253,810	199,722
Operating Segments | Houston
Segment Reporting Information [Line Items]
Total rental property revenues		44,281		87,403
Operating Segments | Atlanta
Segment Reporting Information [Line Items]
Total rental property revenues	47,651	39,805	98,863	79,998
Operating Segments | Austin
Segment Reporting Information [Line Items]
Total rental property revenues	25,429	10,417	49,963	19,356
Operating Segments | Charlotte
Segment Reporting Information [Line Items]
Total rental property revenues	22,599	6,388	45,342	12,734
Operating Segments | Orlando
Segment Reporting Information [Line Items]
Total rental property revenues	6,331		12,972
Operating Segments | Tampa
Segment Reporting Information [Line Items]
Total rental property revenues	11,795		23,098
Operating Segments | Phoenix
Segment Reporting Information [Line Items]
Total rental property revenues	11,879		21,997
Operating Segments | Other
Segment Reporting Information [Line Items]
Total rental property revenues	758	91	1,575	231
Operating Segments | Office
Segment Reporting Information [Line Items]
Total rental property revenues	125,084	97,956	248,761	193,719
Operating Segments | Office | Houston
Segment Reporting Information [Line Items]
Total rental property revenues		44,281		87,403
Operating Segments | Office | Atlanta
Segment Reporting Information [Line Items]
Total rental property revenues	46,293	36,779	93,814	73,995
Operating Segments | Office | Austin
Segment Reporting Information [Line Items]
Total rental property revenues	25,429	10,417	49,963	19,356
Operating Segments | Office | Charlotte
Segment Reporting Information [Line Items]
Total rental property revenues	22,599	6,388	45,342	12,734
Operating Segments | Office | Orlando
Segment Reporting Information [Line Items]
Total rental property revenues	6,331		12,972
Operating Segments | Office | Tampa
Segment Reporting Information [Line Items]
Total rental property revenues	11,795		23,098
Operating Segments | Office | Phoenix
Segment Reporting Information [Line Items]
Total rental property revenues	11,879		21,997
Operating Segments | Office | Other
Segment Reporting Information [Line Items]
Total rental property revenues	758	91	1,575	231
Operating Segments | Mixed-Use
Segment Reporting Information [Line Items]
Total rental property revenues	1,358	3,026	5,049	6,003
Operating Segments | Mixed-Use | Houston
Segment Reporting Information [Line Items]
Total rental property revenues				0
Operating Segments | Mixed-Use | Atlanta
Segment Reporting Information [Line Items]
Total rental property revenues	1,358	3,026	5,049	6,003
Operating Segments | Mixed-Use | Austin
Segment Reporting Information [Line Items]
Total rental property revenues	0	0	0	0
Operating Segments | Mixed-Use | Charlotte
Segment Reporting Information [Line Items]
Total rental property revenues	0	0	0	0
Operating Segments | Mixed-Use | Orlando
Segment Reporting Information [Line Items]
Total rental property revenues	0		0
Operating Segments | Mixed-Use | Tampa
Segment Reporting Information [Line Items]
Total rental property revenues	0		0
Operating Segments | Mixed-Use | Phoenix
Segment Reporting Information [Line Items]
Total rental property revenues	0		0
Operating Segments | Mixed-Use | Other
Segment Reporting Information [Line Items]
Total rental property revenues	0	0	0	0
Segment Reconciling Items
Segment Reporting Information [Line Items]
Less discontinued operations		(44,281)		(87,403)
Less Company's share of rental property revenues from unconsolidated joint ventures	(12,435)	(10,247)	(27,286)	(20,512)
Segment Reconciling Items | Office
Segment Reporting Information [Line Items]
Less discontinued operations		(44,281)		(87,403)
Less Company's share of rental property revenues from unconsolidated joint ventures	(11,077)	(7,221)	(22,237)	(14,509)
Segment Reconciling Items | Mixed-Use
Segment Reporting Information [Line Items]
Less discontinued operations		0		0
Less Company's share of rental property revenues from unconsolidated joint ventures	$ (1,358)	$ (3,026)	$ (5,049)	$ (6,003)