Cousins Properties (CUZ) 10-Q 25 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 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	Sep. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		420,020,538

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Real estate assets:
Operating properties, net of accumulated depreciation of $253,362 and $215,856 in 2017 and 2016, respectively	$ 3,490,181	$ 3,432,522
Projects under development	248,242	162,387
Land	4,221	4,221
Total properties	3,742,644	3,599,130
Cash and cash equivalents	62,167	35,687
Restricted cash	437	15,634
Notes and accounts receivable, net of allowance for doubtful accounts of $626 and $1,167 in 2017 and 2016, respectively	16,291	27,683
Deferred rents receivable	53,483	39,464
Investment in unconsolidated joint ventures	109,222	179,397
Intangible assets, net of accumulated amortization of $99,063 and $53,483 in 2017 and 2016, respectively	211,786	245,529
Other assets	28,170	29,083
Total assets	4,224,200	4,171,607
Liabilities:
Notes payable	1,095,177	1,380,920
Accounts payable and accrued expenses	160,101	109,278
Deferred income	35,918	33,304
Intangible liabilities, net of accumulated amortization of $25,709 and $12,227 in 2017 and 2016, respectively	76,299	89,781
Other liabilities	39,385	44,084
Total liabilities	1,406,880	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, 430,349,620 and 403,746,938 shares issued in 2017 and 2016, respectively	430,350	403,747
Additional paid-in capital	3,604,269	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	(1,127,813)	(1,214,114)
Total stockholders' investment	2,765,300	2,455,557
Nonredeemable noncontrolling interests	52,020	58,683
Total equity	2,817,320	2,514,240
Total liabilities and equity	$ 4,224,200	$ 4,171,607

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Accumulated depreciation on operating properties	$ 253,362	$ 215,856
Allowance for doubtful accounts for notes and accounts receivable	626	1,167
Accumulated amortization on intangible assets	99,063	53,483
Accumulated amortization on intangible liabilities	$ 25,709	$ 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	430,349,620	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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Rental property revenues	$ 109,569,000	$ 46,575,000	$ 336,093,000	$ 138,382,000
Fee income	2,597,000	1,945,000	6,387,000	5,968,000
Other	993,000	153,000	9,593,000	570,000
Total revenues	113,159,000	48,673,000	352,073,000	144,920,000
Expenses:
Rental property operating expenses	40,688,000	18,122,000	123,715,000	55,451,000
Reimbursed expenses	895,000	795,000	2,667,000	2,463,000
General and administrative expenses	7,193,000	4,368,000	21,993,000	17,301,000
Interest expense	7,587,000	5,754,000	25,851,000	16,562,000
Depreciation and amortization	47,622,000	16,622,000	152,546,000	49,804,000
Acquisition and transaction costs	(677,000)	1,446,000	1,499,000	3,889,000
Other	423,000	173,000	1,063,000	681,000
Total costs and expenses	103,731,000	47,280,000	329,334,000	146,151,000
Gain on extinguishment of debt	429,000	0	2,258,000	0
Income (loss) from continuing operations before unconsolidated joint ventures and gain (loss) on sale of investment properties	9,857,000	1,393,000	24,997,000	(1,231,000)
Income from unconsolidated joint ventures	2,461,000	1,527,000	43,362,000	5,144,000
Income from continuing operations before gain (loss) on sale of investment properties	12,318,000	2,920,000	68,359,000	3,913,000
Gain (loss) on sale of investment properties	(33,000)	0	119,729,000	13,944,000
Income from continuing operations	12,285,000	2,920,000	188,088,000	17,857,000
Income from discontinued operations	0	8,737,000	0	24,361,000
Net income	12,285,000	11,657,000	188,088,000	42,218,000
Net income attributable to noncontrolling interests	(218,000)	0	(3,181,000)	0
Net income available to common stockholders	$ 12,067,000	$ 11,657,000	$ 184,907,000	$ 42,218,000
Per common share information — basic and diluted:
Income from continuing operations (in usd per share)	$ 0.03	$ 0.01	$ 0.45	$ 0.08
Income from discontinued operations (in usd per share)	0	0.05	0	0.12
Net income (in usd per share)	$ 0.03	$ 0.06	$ 0.45	$ 0.20
Weighted average shares — basic	419,998	210,170	414,123	210,400
Weighted average shares — diluted	427,300	210,326	421,954	210,528
Dividends declared per common share (in usd per share)	$ 0.06	$ 0.08	$ 0.24	$ 0.24

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	42,218					42,218	42,218
Common stock issued pursuant to:
Stock based compensation	333		257	76			333
Amortization of stock options and restricted stock, net of forfeitures	1,238		(14)	1,252			1,238
Contributions from nonredeemable noncontrolling interest	2,525							2,525
Repurchase of common stock	(13,743)				(13,743)		(13,743)
Common dividends ($0.24 per share)	(50,549)					(50,549)	(50,549)
Ending balance at Sep. 30, 2016	1,665,437		220,499	1,723,552	(148,373)	(132,766)	1,662,912	2,525
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	188,088					184,907	184,907	3,181
Common stock issued pursuant to:
Common stock offering, net of issuance costs	211,774		25,000	186,774			211,774
Director stock grants	1,010		121	889			1,010
Stock based compensation	(886)		282	(1,168)			(886)
Spin-off of Parkway, Inc.	545					545	545
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	1,476		(3)	1,479			1,476
Contributions from nonredeemable noncontrolling interest	1,588							1,588
Distributions to nonredeemable noncontrolling interest	(1,364)							(1,364)
Common dividends ($0.24 per share)	(99,151)					(99,151)	(99,151)
Ending balance at Sep. 30, 2017	$ 2,817,320	$ 6,867	$ 430,350	$ 3,604,269	$ (148,373)	$ (1,127,813)	$ 2,765,300	$ 52,020

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	Sep. 19, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Stockholders' Equity [Abstract]
Dividends per common share (in usd per share)	$ 0.06	$ 0.06	$ 0.08	$ 0.24	$ 0.24

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 188,088,000	$ 42,218,000
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of investment properties	(119,729,000)	(13,944,000)
Depreciation and amortization, including discontinued operations	152,546,000	96,192,000
Amortization of deferred financing costs and premium/discount on notes payable	(2,543,000)	1,063,000
Stock-based compensation expense, net of forfeitures	2,486,000	1,571,000
Effect of certain non-cash adjustments to rental revenues	(33,379,000)	(15,966,000)
Income from unconsolidated joint ventures	(43,362,000)	(5,144,000)
Operating distributions from unconsolidated joint ventures	40,207,000	5,893,000
Gain on extinguishment of debt	(2,258,000)	0
Changes in other operating assets and liabilities:
Change in other receivables and other assets, net	9,707,000	1,824,000
Change in operating liabilities	3,150,000	5,544,000
Net cash provided by operating activities	194,913,000	119,251,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from investment property sales	171,316,000	21,088,000
Property acquisition, development, and tenant asset expenditures	(229,811,000)	(122,357,000)
Purchase of tenant in common interest	(13,382,000)	0
Collection of notes receivable	5,161,000	0
Investment in unconsolidated joint ventures	(13,862,000)	(24,918,000)
Distributions from unconsolidated joint ventures	40,939,000	4,150,000
Change in notes receivable and other assets	(1,348,000)	(5,699,000)
Change in restricted cash	15,105,000	(3,667,000)
Net cash used in investing activities	(25,882,000)	(131,403,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from credit facility	589,300,000	182,800,000
Repayment of credit facility	(723,300,000)	(274,800,000)
Proceeds from issuance of notes payable	350,000,000	270,000,000
Repayment of notes payable	(493,774,000)	(7,239,000)
Payment of deferred financing costs	(2,048,000)	(1,604,000)
Shares withheld for payment of taxes on restricted stock vesting	(701,000)	0
Common stock issued, net of expenses	211,598,000	0
Contributions from noncontrolling interests	1,588,000	2,525,000
Distributions to nonredeemable noncontrolling interests	(1,364,000)	0
Repurchase of common stock	0	(13,743,000)
Common dividends paid	(73,950,000)	(50,549,000)
Other	100,000	0
Net cash provided by (used in) financing activities	(142,551,000)	107,390,000
NET INCREASE IN CASH AND CASH EQUIVALENTS	26,480,000	95,238,000
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	35,687,000	2,003,000
CASH AND CASH EQUIVALENTS AT END OF PERIOD	62,167,000	97,241,000
Interest paid, net of amounts capitalized	26,927,000	20,792,000
Significant non-cash transactions:
Transfer from operating properties to real estate assets and other assets held for sale	0	203,735,000
Transfer from operating properties to liabilities of real estate assets held for sale	0	106,135,000
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	25,201,000	0
Transfer from investment in unconsolidated joint ventures to projects under development	0	5,880,000
Transfer from land held to projects under development	0	8,099,000
Change in accrued property acquisition, development, and tenant asset expenditures	$ (18,081,000)	$ (11,384,000)

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Sep. 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 September 30, 2017 and the results of operations for the three and nine months ended September 30, 2017 and 2016 . The results of operations for the three and nine months ended September 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 nine months ended September 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. Based on the results of this analysis to date, the Company believes that its management, development, and leasing fees from third parties and with its unconsolidated joint ventures, as well as parking revenue, will be impacted by the new standard. The new guidance specifically excludes revenue associated with lease contracts. However, the Company believes that certain non-lease components of revenue from leases may be impacted by the adoption of the new revenue standard beginning January 1, 2019, the effective date of the new leasing standard (see below). 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 expects to adopt this standard in the fourth quarter of 2018 and expects that the adoption of this standard will change the classification of cash flows from its equity method investments. 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. The Company expects to adopt this standard in the fourth quarter of 2018, which will result in a change in the presentation of cash and cash equivalents on the statements of cash flows. 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. The Company expects to adopt this standard on January 1, 2018. The Company does not believe that the adoption of this standard will have a material impact on its financial statements.

Real Estate Transactions

Real Estate Transactions	9 Months Ended
	Sep. 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 sales 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. The Company has decided to sell three properties totaling 1,038,000 square feet in Orlando, Florida, and determined that these properties met the criteria for held for sale in October 2017. The Company expects to sell these assets in the fourth quarter of 2017 or first quarter of 2018.

Transactions With Parkway Prope

Transactions With Parkway Properties, Inc.	9 Months Ended
	Sep. 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 contained 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 became an independent public company. 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 nine months ended September 30, 2016 (in thousands): Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 Rental property revenues $ 46,046 $ 133,450 Rental property operating expenses (19,638 ) (56,598 ) Other revenues — 288 Interest expense (1,956 ) (5,896 ) Depreciation and amortization (15,221 ) (46,389 ) Acquisition and transaction costs (494 ) (494 ) Income from discontinued operations $ 8,737 $ 24,361 Cash provided by operating activities $ 26,589 $ 43,601 Cash used in investing activities $ (11,130 ) $ (29,242 )

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Ventures	9 Months Ended
	Sep. 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 September 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 $ 268,531 $ 268,242 $ 204,390 $ 207,545 $ 50,633 $ 49,476 $ 26,204 $ 25,686 EP I LLC 1,517 78,537 — 58,029 1,269 18,962 738 18,551 EP II LLC 392 67,754 — 44,969 296 21,743 130 17,606 Charlotte Gateway Village, LLC 129,109 119,054 — — 124,012 116,809 15,397 11,796 HICO Victory Center LP 14,294 14,124 — — 14,290 13,869 9,695 9,506 Carolina Square Holdings LP 102,370 66,922 62,180 23,741 34,080 34,173 18,843 18,325 CL Realty, L.L.C. 8,287 8,047 — — 8,156 7,899 2,852 3,644 DC Charlotte Plaza LLLP 39,156 17,940 — — 34,255 17,073 17,475 8,937 Temco Associates, LLC 4,426 4,368 — — 4,323 4,253 864 829 Wildwood Associates 16,368 16,351 — — 16,227 16,314 (1,186 ) (1) (1,143 ) (1) Crawford Long - CPI, LLC 28,621 27,523 71,690 72,822 (44,787 ) (45,928 ) (21,296 ) (1) (21,866 ) (1) 111 West Rio Building — 59,399 — 12,852 — 32,855 — 52,206 Courvoisier Centre JV, LLC 182,262 172,197 106,500 106,500 68,480 69,479 11,719 11,782 HICO Avalon II, LLC 987 — — — 532 — 4,366 — AMCO 120 WT Holdings, LLC 13,286 10,446 — — 12,678 9,136 939 184 Other — — — — — — — 345 $ 809,606 $ 930,904 $ 444,760 $ 526,458 $ 324,444 $ 366,113 $ 86,740 $ 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 nine months ended September 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 $ 33,503 $ 31,630 $ 4,907 $ 3,874 $ 2,453 $ 1,937 EP I LLC 4,094 7,919 44,865 1,417 28,479 1,206 EP II LLC 2,644 3,605 13,023 (1,194 ) 9,768 (1,043 ) Charlotte Gateway Village, LLC 20,125 26,245 7,202 11,077 3,601 1,447 HICO Victory Center LP 320 307 320 300 171 131 Carolina Square Holdings LP 640 — (100 ) — 19 — CL Realty, L.L.C. 2,899 327 2,657 105 408 70 DC Charlotte Plaza LLLP 2 47 2 45 1 24 Temco Associates, LLC 144 180 70 83 35 122 Wildwood Associates — — (86 ) (106 ) (43 ) (53 ) Crawford Long - CPI, LLC 9,017 9,101 2,285 2,005 1,142 1,003 111 West Rio Building — — — — (2,592 ) — Courvoisier Centre JV, LLC 12,701 — (1,000 ) — (80 ) — HICO Avalon II, LLC — — (68 ) — — — AMCO 120 WT Holdings, LLC — — (22 ) — — — Other — — — — — 300 $ 86,089 $ 79,361 $ 74,055 $ 17,606 $ 43,362 $ 5,144 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. 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	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS Intangible assets on the balance sheets as of September 30, 2017 and December 31, 2016 included the following (in thousands): September 30, 2017 December 31, 2016 In-place leases, net of accumulated amortization of $85,806 and $46,899 in 2017 and 2016, respectively $ 158,395 $ 185,251 Above-market tenant leases, net of accumulated amortization of $12,981 and $6,515 in 2017 and 2016, respectively 33,580 40,260 Below-market ground lease, net of accumulated amortization of $276 and $69 in 2017 and 2016, respectively 18,137 18,344 Goodwill 1,674 1,674 $ 211,786 $ 245,529 The following is a summary of goodwill activity for the nine months ended September 30, 2017 and 2016 (in thousands): Nine Months Ended September 30, 2017 2016 Beginning balance $ 1,674 $ 3,647 Allocated to property sales — (21 ) Ending balance $ 1,674 $ 3,626

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets on the balance sheets as of September 30, 2017 and December 31, 2016 included the following (in thousands): September 30, 2017 December 31, 2016 Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $24,008 and $23,135 in 2017 and 2016, respectively $ 14,849 $ 15,773 Lease inducements, net of accumulated amortization of $892 and $1,278 in 2017 and 2016, respectively 2,049 2,517 Prepaid expenses and other assets 9,764 8,432 Line of credit deferred financing costs, net of accumulated amortization of $2,905 and $2,264 in 2017 and 2016, respectively 1,428 2,182 Predevelopment costs and earnest money 80 179 $ 28,170 $ 29,083

Notes Payable

Notes Payable	9 Months Ended
	Sep. 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 September 30, 2017 and December 31, 2016 ($ in thousands): Description Interest Rate Maturity September 30, 2017 December 31, 2016 Term Loan, Unsecured 2.43 % 2021 $ 250,000 $ 250,000 Senior Notes, Unsecured 3.91 % 2025 250,000 — Fifth Third Center 3.37 % 2026 147,306 149,516 Colorado Tower 3.45 % 2026 120,000 120,000 Promenade 4.27 % 2022 103,113 105,342 Senior Notes, Unsecured 4.09 % 2027 100,000 — 816 Congress 3.75 % 2024 83,702 84,872 Meridian Mark Plaza 6.00 % 2020 24,162 24,522 The Pointe 4.01 % 2019 22,620 22,945 Credit Facility, Unsecured 2.33 % 2019 — 134,000 3344 Peachtree 4.75 % 2017 — 78,971 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 1,100,903 1,378,676 Unamortized premium, net 270 6,792 Unamortized loan costs (5,996 ) (4,548 ) Total Notes Payable $ 1,095,177 $ 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 September 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 $499 million at September 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 September 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 funded in two tranches. The first tranche of $100 million was funded 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 funded 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 September 30, 2017 and December 31, 2016 , the aggregate estimated fair values of the Company's notes payable were $1.1 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 nine months ended September 30, 2017 and 2016 , interest expense was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Total interest incurred $ 10,288 $ 8,939 $ 32,360 $ 25,446 Less interest - discontinued operations — (1,956 ) — (5,896 ) Interest capitalized (2,701 ) (1,229 ) (6,509 ) (2,988 ) Total interest expense $ 7,587 $ 5,754 $ 25,851 $ 16,562 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 July 2017, the Company repaid in full, without penalty, the $77.9 million 3344 Peachtree mortgage note. In connection with these repayments, the Company recorded gains on extinguishment of debt of $2.3 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.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments At September 30, 2017 , the Company had outstanding letters of credit and performance bonds totaling $3.7 million . As a lessor, the Company had $188.3 million in future obligations under leases to fund tenant improvements and other future construction obligations at September 30, 2017 . As a lessee, the Company had future obligations under ground and other operating leases of $209.5 million at September 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	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY On September 19, 2017, the Company declared a cash dividend of $0.06 per common share, which was paid October 12, 2017 to shareholders of record on October 2, 2017. During the nine months ended September 30, 2017 , certain holders of CPLP units redeemed 1,203,286 units in exchange for shares of the Company's common stock. The aggregate value at the time of these transactions was $ 10.1 million based upon the value of the Company's common stock at the time of the transactions.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 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 $3.3 million and $141,000 for the three months ended September 30, 2017 and 2016 , respectively, and $7.9 million and $4.8 million for the nine months ended September 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 nine months ended September 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 nine months ended September 30, 2017 related to the issuances.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 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 nine months ended September 30, 2017 and 2016 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Earnings per Common Share - basic: Numerator: Income from continuing operations $ 12,285 $ 2,920 $ 188,088 $ 17,857 Net income attributable to noncontrolling interests in CPLP (213 ) — (3,170 ) — Net income attributable to other noncontrolling interests (5 ) — (11 ) — Income from continuing operations available for common stockholders 12,067 2,920 184,907 17,857 Income from discontinued operations — 8,737 — 24,361 Net income available for common stockholders $ 12,067 $ 11,657 $ 184,907 $ 42,218 Denominator: Weighted average common shares - basic 419,998 210,170 414,123 210,400 Earnings per common share - basic: Income from continuing operations available for common stockholders $ 0.03 $ 0.01 $ 0.45 $ 0.08 Income from discontinued operations available for common stockholders — 0.05 — 0.12 Earnings per common share - basic $ 0.03 $ 0.06 $ 0.45 $ 0.20 Earnings per common share - diluted: Numerator: Income from continuing operations $ 12,285 $ 2,920 $ 188,088 $ 17,857 Net income attributable to other noncontrolling interests from continuing operations (5 ) — (11 ) — Income from continuing operations available for common stockholders before net income attributable to noncontrolling interests in CPLP 12,280 2,920 188,077 17,857 Income from discontinued operations available for common stockholders — 8,737 — 24,361 Net income available for common stockholders before net income attributable to noncontrolling interests in CPLP $ 12,280 $ 11,657 $ 188,077 $ 42,218 Denominator: Weighted average common shares - basic 419,998 210,170 414,123 210,400 Add: Potential dilutive common shares - stock options 328 156 320 128 Weighted average units of CPLP convertible into common shares 6,974 — 7,511 — Weighted average common shares - diluted 427,300 210,326 421,954 210,528 Earnings per common share - diluted: Income from continuing operations available for common stockholders before net income attributable to noncontrolling interests in CPLP $ 0.03 $ 0.01 $ 0.45 $ 0.08 Income from discontinued operations available for common stockholders — 0.05 — 0.12 Earnings per common share - diluted $ 0.03 $ 0.06 $ 0.45 $ 0.20 Weighted average anti-dilutive stock options outstanding 731 1,103 740 1,110

Reportable Segments

Reportable Segments	9 Months Ended
	Sep. 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. In conjunction with the Merger and Spin-Off completed in the fourth quarter of 2016, the Company added the Orlando, Phoenix, and Tampa segments, and removed the Houston segment. 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 for the three and nine months ended September 30, 2017 and 2016 are as follows (in thousands): Three Months Ended September 30, 2017 Office Mixed-Use Total Net Operating Income: Atlanta $ 25,247 $ — $ 25,247 Austin 15,074 — 15,074 Charlotte 15,489 — 15,489 Orlando 3,356 — 3,356 Tampa 7,412 — 7,412 Phoenix 8,667 — 8,667 Other 525 45 570 Total Net Operating Income $ 75,770 $ 45 $ 75,815 Three Months Ended September 30, 2016 Office Mixed-Use Total Net Operating Income: Houston $ 26,408 $ — $ 26,408 Atlanta 22,593 1,753 24,346 Austin 6,023 — 6,023 Charlotte 4,905 — 4,905 Other (61 ) — (61 ) Total Net Operating Income $ 59,868 $ 1,753 $ 61,621 Nine Months Ended September 30, 2017 Office Mixed-Use Total Net Operating Income: Atlanta $ 84,437 $ 3,125 $ 87,562 Austin 44,113 — 44,113 Charlotte 46,117 — 46,117 Orlando 10,464 — 10,464 Tampa 21,700 — 21,700 Phoenix 24,722 — 24,722 Other 1,374 45 1,419 Total Net Operating Income $ 232,927 $ 3,170 $ 236,097 Nine Months Ended September 30, 2016 Office Mixed-Use Total Net Operating Income: Houston $ 76,851 $ — $ 76,851 Atlanta 66,763 5,101 71,864 Austin 16,978 — 16,978 Charlotte 14,485 — 14,485 Other (36 ) — (36 ) Total Net Operating Income $ 175,041 $ 5,101 $ 180,142 The following reconciles Net Operating Income to Net Income for each of the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net Operating Income $ 75,815 $ 61,621 $ 236,097 $ 180,142 Net operating income from unconsolidated joint (6,934 ) (6,760 ) (23,719 ) (20,359 ) Net operating income from discontinued operations — (26,408 ) — (76,852 ) Fee income 2,597 1,945 6,387 5,968 Other income 993 153 9,593 570 Reimbursed expenses (895 ) (795 ) (2,667 ) (2,463 ) General and administrative expenses (7,193 ) (4,368 ) (21,993 ) (17,301 ) Interest expense (7,587 ) (5,754 ) (25,851 ) (16,562 ) Depreciation and amortization (47,622 ) (16,622 ) (152,546 ) (49,804 ) Acquisition and transaction costs 677 (1,446 ) (1,499 ) (3,889 ) Gain on extinguishment of debt 429 — 2,258 — Other expenses (423 ) (173 ) (1,063 ) (681 ) Income from unconsolidated joint ventures 2,461 1,527 43,362 5,144 Gain (loss) on sale of investment properties (33 ) — 119,729 13,944 Income from discontinued operations — 8,737 — 24,361 Net Income $ 12,285 $ 11,657 $ 188,088 $ 42,218 Revenues by reportable segment, including a reconciliation to total rental property revenues on the condensed consolidated statements of operations, for three and nine months ended September 30, 2017 and 2016 are as follows (in thousands): Three Months Ended September 30, 2017 Office Mixed-Use Total Revenues: Atlanta $ 41,507 $ — $ 41,507 Austin 25,385 — 25,385 Charlotte 23,153 143 23,296 Orlando 6,408 — 6,408 Tampa 11,815 — 11,815 Phoenix 11,692 — 11,692 Other 915 — 915 Total segment revenues 120,875 143 121,018 Less Company's share of rental property revenues from unconsolidated joint ventures (11,306 ) (143 ) (11,449 ) Total rental property revenues $ 109,569 $ — $ 109,569 Three Months Ended September 30, 2016 Office Mixed-Use Total Revenues: Houston $ 46,046 $ — $ 46,046 Atlanta 36,693 3,197 39,890 Austin 10,469 — 10,469 Charlotte 6,799 — 6,799 Other (57 ) — (57 ) Total segment revenues 99,950 3,197 103,147 Less discontinued operations (46,046 ) — (46,046 ) Less Company's share of rental property revenues from unconsolidated joint ventures (7,329 ) (3,197 ) (10,526 ) Total rental property revenues $ 46,575 $ — $ 46,575 Nine Months Ended September 30, 2017 Office Mixed-Use Total Revenues Atlanta $ 135,319 $ 5,049 $ 140,368 Austin 75,348 — 75,348 Charlotte 68,495 143 68,638 Orlando 19,380 — 19,380 Tampa 34,913 — 34,913 Phoenix 33,689 — 33,689 Other 2,492 — 2,492 Total segment revenues $ 369,636 $ 5,192 $ 374,828 Less Company's share of rental property revenues from unconsolidated joint ventures (33,543 ) (5,192 ) (38,735 ) Total rental property revenues $ 336,093 $ — $ 336,093 Nine Months Ended September 30, 2016 Office Mixed-Use Total Revenues: Houston $ 133,450 $ — $ 133,450 Atlanta 110,915 9,200 120,115 Austin 29,825 — 29,825 Charlotte 19,533 — 19,533 Other (54 ) — (54 ) Total segment revenues 293,669 9,200 302,869 Less discontinued operations (133,450 ) — (133,450 ) Less Company's share of rental property revenues from unconsolidated joint ventures (21,837 ) (9,200 ) (31,037 ) Total rental property revenues $ 138,382 $ — $ 138,382

Description of Business and B20

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 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. Based on the results of this analysis to date, the Company believes that its management, development, and leasing fees from third parties and with its unconsolidated joint ventures, as well as parking revenue, will be impacted by the new standard. The new guidance specifically excludes revenue associated with lease contracts. However, the Company believes that certain non-lease components of revenue from leases may be impacted by the adoption of the new revenue standard beginning January 1, 2019, the effective date of the new leasing standard (see below). 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 expects to adopt this standard in the fourth quarter of 2018 and expects that the adoption of this standard will change the classification of cash flows from its equity method investments. 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. The Company expects to adopt this standard in the fourth quarter of 2018, which will result in a change in the presentation of cash and cash equivalents on the statements of cash flows. 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. The Company expects to adopt this standard on January 1, 2018. The Company does not believe that the adoption of this standard will have a material impact on its financial statements.

Transactions With Parkway Pro21

Transactions With Parkway Properties, Inc. (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2016 (in thousands): Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 Rental property revenues $ 46,046 $ 133,450 Rental property operating expenses (19,638 ) (56,598 ) Other revenues — 288 Interest expense (1,956 ) (5,896 ) Depreciation and amortization (15,221 ) (46,389 ) Acquisition and transaction costs (494 ) (494 ) Income from discontinued operations $ 8,737 $ 24,361 Cash provided by operating activities $ 26,589 $ 43,601 Cash used in investing activities $ (11,130 ) $ (29,242 )

Investment in Unconsolidated 22

Investment in Unconsolidated Joint Ventures (Tables)	9 Months Ended
	Sep. 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 September 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 $ 268,531 $ 268,242 $ 204,390 $ 207,545 $ 50,633 $ 49,476 $ 26,204 $ 25,686 EP I LLC 1,517 78,537 — 58,029 1,269 18,962 738 18,551 EP II LLC 392 67,754 — 44,969 296 21,743 130 17,606 Charlotte Gateway Village, LLC 129,109 119,054 — — 124,012 116,809 15,397 11,796 HICO Victory Center LP 14,294 14,124 — — 14,290 13,869 9,695 9,506 Carolina Square Holdings LP 102,370 66,922 62,180 23,741 34,080 34,173 18,843 18,325 CL Realty, L.L.C. 8,287 8,047 — — 8,156 7,899 2,852 3,644 DC Charlotte Plaza LLLP 39,156 17,940 — — 34,255 17,073 17,475 8,937 Temco Associates, LLC 4,426 4,368 — — 4,323 4,253 864 829 Wildwood Associates 16,368 16,351 — — 16,227 16,314 (1,186 ) (1) (1,143 ) (1) Crawford Long - CPI, LLC 28,621 27,523 71,690 72,822 (44,787 ) (45,928 ) (21,296 ) (1) (21,866 ) (1) 111 West Rio Building — 59,399 — 12,852 — 32,855 — 52,206 Courvoisier Centre JV, LLC 182,262 172,197 106,500 106,500 68,480 69,479 11,719 11,782 HICO Avalon II, LLC 987 — — — 532 — 4,366 — AMCO 120 WT Holdings, LLC 13,286 10,446 — — 12,678 9,136 939 184 Other — — — — — — — 345 $ 809,606 $ 930,904 $ 444,760 $ 526,458 $ 324,444 $ 366,113 $ 86,740 $ 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 nine months ended September 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 $ 33,503 $ 31,630 $ 4,907 $ 3,874 $ 2,453 $ 1,937 EP I LLC 4,094 7,919 44,865 1,417 28,479 1,206 EP II LLC 2,644 3,605 13,023 (1,194 ) 9,768 (1,043 ) Charlotte Gateway Village, LLC 20,125 26,245 7,202 11,077 3,601 1,447 HICO Victory Center LP 320 307 320 300 171 131 Carolina Square Holdings LP 640 — (100 ) — 19 — CL Realty, L.L.C. 2,899 327 2,657 105 408 70 DC Charlotte Plaza LLLP 2 47 2 45 1 24 Temco Associates, LLC 144 180 70 83 35 122 Wildwood Associates — — (86 ) (106 ) (43 ) (53 ) Crawford Long - CPI, LLC 9,017 9,101 2,285 2,005 1,142 1,003 111 West Rio Building — — — — (2,592 ) — Courvoisier Centre JV, LLC 12,701 — (1,000 ) — (80 ) — HICO Avalon II, LLC — — (68 ) — — — AMCO 120 WT Holdings, LLC — — (22 ) — — — Other — — — — — 300 $ 86,089 $ 79,361 $ 74,055 $ 17,606 $ 43,362 $ 5,144

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Intangible assets on the balance sheets as of September 30, 2017 and December 31, 2016 included the following (in thousands): September 30, 2017 December 31, 2016 In-place leases, net of accumulated amortization of $85,806 and $46,899 in 2017 and 2016, respectively $ 158,395 $ 185,251 Above-market tenant leases, net of accumulated amortization of $12,981 and $6,515 in 2017 and 2016, respectively 33,580 40,260 Below-market ground lease, net of accumulated amortization of $276 and $69 in 2017 and 2016, respectively 18,137 18,344 Goodwill 1,674 1,674 $ 211,786 $ 245,529
Summary of goodwill activity	The following is a summary of goodwill activity for the nine months ended September 30, 2017 and 2016 (in thousands): Nine Months Ended September 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)	9 Months Ended
	Sep. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of other assets	Other assets on the balance sheets as of September 30, 2017 and December 31, 2016 included the following (in thousands): September 30, 2017 December 31, 2016 Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $24,008 and $23,135 in 2017 and 2016, respectively $ 14,849 $ 15,773 Lease inducements, net of accumulated amortization of $892 and $1,278 in 2017 and 2016, respectively 2,049 2,517 Prepaid expenses and other assets 9,764 8,432 Line of credit deferred financing costs, net of accumulated amortization of $2,905 and $2,264 in 2017 and 2016, respectively 1,428 2,182 Predevelopment costs and earnest money 80 179 $ 28,170 $ 29,083

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
	Sep. 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 September 30, 2017 and December 31, 2016 ($ in thousands): Description Interest Rate Maturity September 30, 2017 December 31, 2016 Term Loan, Unsecured 2.43 % 2021 $ 250,000 $ 250,000 Senior Notes, Unsecured 3.91 % 2025 250,000 — Fifth Third Center 3.37 % 2026 147,306 149,516 Colorado Tower 3.45 % 2026 120,000 120,000 Promenade 4.27 % 2022 103,113 105,342 Senior Notes, Unsecured 4.09 % 2027 100,000 — 816 Congress 3.75 % 2024 83,702 84,872 Meridian Mark Plaza 6.00 % 2020 24,162 24,522 The Pointe 4.01 % 2019 22,620 22,945 Credit Facility, Unsecured 2.33 % 2019 — 134,000 3344 Peachtree 4.75 % 2017 — 78,971 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 1,100,903 1,378,676 Unamortized premium, net 270 6,792 Unamortized loan costs (5,996 ) (4,548 ) Total Notes Payable $ 1,095,177 $ 1,380,920
Summary of interest recorded	For the three and nine months ended September 30, 2017 and 2016 , interest expense was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Total interest incurred $ 10,288 $ 8,939 $ 32,360 $ 25,446 Less interest - discontinued operations — (1,956 ) — (5,896 ) Interest capitalized (2,701 ) (1,229 ) (6,509 ) (2,988 ) Total interest expense $ 7,587 $ 5,754 $ 25,851 $ 16,562

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2017 and 2016 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Earnings per Common Share - basic: Numerator: Income from continuing operations $ 12,285 $ 2,920 $ 188,088 $ 17,857 Net income attributable to noncontrolling interests in CPLP (213 ) — (3,170 ) — Net income attributable to other noncontrolling interests (5 ) — (11 ) — Income from continuing operations available for common stockholders 12,067 2,920 184,907 17,857 Income from discontinued operations — 8,737 — 24,361 Net income available for common stockholders $ 12,067 $ 11,657 $ 184,907 $ 42,218 Denominator: Weighted average common shares - basic 419,998 210,170 414,123 210,400 Earnings per common share - basic: Income from continuing operations available for common stockholders $ 0.03 $ 0.01 $ 0.45 $ 0.08 Income from discontinued operations available for common stockholders — 0.05 — 0.12 Earnings per common share - basic $ 0.03 $ 0.06 $ 0.45 $ 0.20 Earnings per common share - diluted: Numerator: Income from continuing operations $ 12,285 $ 2,920 $ 188,088 $ 17,857 Net income attributable to other noncontrolling interests from continuing operations (5 ) — (11 ) — Income from continuing operations available for common stockholders before net income attributable to noncontrolling interests in CPLP 12,280 2,920 188,077 17,857 Income from discontinued operations available for common stockholders — 8,737 — 24,361 Net income available for common stockholders before net income attributable to noncontrolling interests in CPLP $ 12,280 $ 11,657 $ 188,077 $ 42,218 Denominator: Weighted average common shares - basic 419,998 210,170 414,123 210,400 Add: Potential dilutive common shares - stock options 328 156 320 128 Weighted average units of CPLP convertible into common shares 6,974 — 7,511 — Weighted average common shares - diluted 427,300 210,326 421,954 210,528 Earnings per common share - diluted: Income from continuing operations available for common stockholders before net income attributable to noncontrolling interests in CPLP $ 0.03 $ 0.01 $ 0.45 $ 0.08 Income from discontinued operations available for common stockholders — 0.05 — 0.12 Earnings per common share - diluted $ 0.03 $ 0.06 $ 0.45 $ 0.20 Weighted average anti-dilutive stock options outstanding 731 1,103 740 1,110

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Sep. 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 for the three and nine months ended September 30, 2017 and 2016 are as follows (in thousands): Three Months Ended September 30, 2017 Office Mixed-Use Total Net Operating Income: Atlanta $ 25,247 $ — $ 25,247 Austin 15,074 — 15,074 Charlotte 15,489 — 15,489 Orlando 3,356 — 3,356 Tampa 7,412 — 7,412 Phoenix 8,667 — 8,667 Other 525 45 570 Total Net Operating Income $ 75,770 $ 45 $ 75,815 Three Months Ended September 30, 2016 Office Mixed-Use Total Net Operating Income: Houston $ 26,408 $ — $ 26,408 Atlanta 22,593 1,753 24,346 Austin 6,023 — 6,023 Charlotte 4,905 — 4,905 Other (61 ) — (61 ) Total Net Operating Income $ 59,868 $ 1,753 $ 61,621 Nine Months Ended September 30, 2017 Office Mixed-Use Total Net Operating Income: Atlanta $ 84,437 $ 3,125 $ 87,562 Austin 44,113 — 44,113 Charlotte 46,117 — 46,117 Orlando 10,464 — 10,464 Tampa 21,700 — 21,700 Phoenix 24,722 — 24,722 Other 1,374 45 1,419 Total Net Operating Income $ 232,927 $ 3,170 $ 236,097 Nine Months Ended September 30, 2016 Office Mixed-Use Total Net Operating Income: Houston $ 76,851 $ — $ 76,851 Atlanta 66,763 5,101 71,864 Austin 16,978 — 16,978 Charlotte 14,485 — 14,485 Other (36 ) — (36 ) Total Net Operating Income $ 175,041 $ 5,101 $ 180,142 The following reconciles Net Operating Income to Net Income for each of the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net Operating Income $ 75,815 $ 61,621 $ 236,097 $ 180,142 Net operating income from unconsolidated joint (6,934 ) (6,760 ) (23,719 ) (20,359 ) Net operating income from discontinued operations — (26,408 ) — (76,852 ) Fee income 2,597 1,945 6,387 5,968 Other income 993 153 9,593 570 Reimbursed expenses (895 ) (795 ) (2,667 ) (2,463 ) General and administrative expenses (7,193 ) (4,368 ) (21,993 ) (17,301 ) Interest expense (7,587 ) (5,754 ) (25,851 ) (16,562 ) Depreciation and amortization (47,622 ) (16,622 ) (152,546 ) (49,804 ) Acquisition and transaction costs 677 (1,446 ) (1,499 ) (3,889 ) Gain on extinguishment of debt 429 — 2,258 — Other expenses (423 ) (173 ) (1,063 ) (681 ) Income from unconsolidated joint ventures 2,461 1,527 43,362 5,144 Gain (loss) on sale of investment properties (33 ) — 119,729 13,944 Income from discontinued operations — 8,737 — 24,361 Net Income $ 12,285 $ 11,657 $ 188,088 $ 42,218
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 nine months ended September 30, 2017 and 2016 are as follows (in thousands): Three Months Ended September 30, 2017 Office Mixed-Use Total Revenues: Atlanta $ 41,507 $ — $ 41,507 Austin 25,385 — 25,385 Charlotte 23,153 143 23,296 Orlando 6,408 — 6,408 Tampa 11,815 — 11,815 Phoenix 11,692 — 11,692 Other 915 — 915 Total segment revenues 120,875 143 121,018 Less Company's share of rental property revenues from unconsolidated joint ventures (11,306 ) (143 ) (11,449 ) Total rental property revenues $ 109,569 $ — $ 109,569 Three Months Ended September 30, 2016 Office Mixed-Use Total Revenues: Houston $ 46,046 $ — $ 46,046 Atlanta 36,693 3,197 39,890 Austin 10,469 — 10,469 Charlotte 6,799 — 6,799 Other (57 ) — (57 ) Total segment revenues 99,950 3,197 103,147 Less discontinued operations (46,046 ) — (46,046 ) Less Company's share of rental property revenues from unconsolidated joint ventures (7,329 ) (3,197 ) (10,526 ) Total rental property revenues $ 46,575 $ — $ 46,575 Nine Months Ended September 30, 2017 Office Mixed-Use Total Revenues Atlanta $ 135,319 $ 5,049 $ 140,368 Austin 75,348 — 75,348 Charlotte 68,495 143 68,638 Orlando 19,380 — 19,380 Tampa 34,913 — 34,913 Phoenix 33,689 — 33,689 Other 2,492 — 2,492 Total segment revenues $ 369,636 $ 5,192 $ 374,828 Less Company's share of rental property revenues from unconsolidated joint ventures (33,543 ) (5,192 ) (38,735 ) Total rental property revenues $ 336,093 $ — $ 336,093 Nine Months Ended September 30, 2016 Office Mixed-Use Total Revenues: Houston $ 133,450 $ — $ 133,450 Atlanta 110,915 9,200 120,115 Austin 29,825 — 29,825 Charlotte 19,533 — 19,533 Other (54 ) — (54 ) Total segment revenues 293,669 9,200 302,869 Less discontinued operations (133,450 ) — (133,450 ) Less Company's share of rental property revenues from unconsolidated joint ventures (21,837 ) (9,200 ) (31,037 ) Total rental property revenues $ 138,382 $ — $ 138,382

Description of Business and B28

Description of Business and Basis of Presentation (Details)	9 Months Ended
	Sep. 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) ft² in Thousands, $ in Millions	Jun. 15, 2017USD ($)ft²	Oct. 25, 2017ft²property
Discontinued Operations, Disposed of by Sale | The ACS Center
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
Discontinued Operations, Held-for-sale | Properties in Orlando, Florida | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of property (in sq ft) | ft²		1,038
Number of properties | property		3

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest expense	$ 0	$ (1,956)	$ 0	$ (5,896)
Spin-off
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Rental property revenues		46,046		133,450
Rental property operating expenses		(19,638)		(56,598)
Other revenues		0		288
Interest expense		(1,956)		(5,896)
Depreciation and amortization		(15,221)		(46,389)
Acquisition and transaction costs		(494)		(494)
Income from discontinued operations		8,737		24,361
Cash provided by operating activities		26,589		43,601
Cash used in investing activities		$ (11,130)		$ (29,242)

Investment in Unconsolidated 32

Investment in Unconsolidated Joint Ventures (Summary of Financial Data and Principal Activities) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
SUMMARY OF FINANCIAL POSITION:
Total Assets	$ 809,606		$ 930,904
Total Debt	444,760		526,458
Total Equity	324,444		366,113
Company’s Investment	86,740		156,388
SUMMARY OF OPERATIONS:
Total Revenues	86,089	$ 79,361
Net Income (Loss)	74,055	17,606
Company's Share of Income (Loss)	43,362	5,144
Terminus Office Holdings
SUMMARY OF FINANCIAL POSITION:
Total Assets	268,531		268,242
Total Debt	204,390		207,545
Total Equity	50,633		49,476
Company’s Investment	26,204		25,686
SUMMARY OF OPERATIONS:
Total Revenues	33,503	31,630
Net Income (Loss)	4,907	3,874
Company's Share of Income (Loss)	2,453	1,937
EP I LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	1,517		78,537
Total Debt	0		58,029
Total Equity	1,269		18,962
Company’s Investment	738		18,551
SUMMARY OF OPERATIONS:
Total Revenues	4,094	7,919
Net Income (Loss)	44,865	1,417
Company's Share of Income (Loss)	28,479	1,206
EP II LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	392		67,754
Total Debt	0		44,969
Total Equity	296		21,743
Company’s Investment	130		17,606
SUMMARY OF OPERATIONS:
Total Revenues	2,644	3,605
Net Income (Loss)	13,023	(1,194)
Company's Share of Income (Loss)	9,768	(1,043)
Charlotte Gateway Village, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	129,109		119,054
Total Debt	0		0
Total Equity	124,012		116,809
Company’s Investment	15,397		11,796
SUMMARY OF OPERATIONS:
Total Revenues	20,125	26,245
Net Income (Loss)	7,202	11,077
Company's Share of Income (Loss)	3,601	1,447
HICO Victory Center LP
SUMMARY OF FINANCIAL POSITION:
Total Assets	14,294		14,124
Total Debt	0		0
Total Equity	14,290		13,869
Company’s Investment	9,695		9,506
SUMMARY OF OPERATIONS:
Total Revenues	320	307
Net Income (Loss)	320	300
Company's Share of Income (Loss)	171	131
Carolina Square Holdings LP
SUMMARY OF FINANCIAL POSITION:
Total Assets	102,370		66,922
Total Debt	62,180		23,741
Total Equity	34,080		34,173
Company’s Investment	18,843		18,325
SUMMARY OF OPERATIONS:
Total Revenues	640	0
Net Income (Loss)	(100)	0
Company's Share of Income (Loss)	19	0
CL Realty, L.L.C.
SUMMARY OF FINANCIAL POSITION:
Total Assets	8,287		8,047
Total Debt	0		0
Total Equity	8,156		7,899
Company’s Investment	2,852		3,644
SUMMARY OF OPERATIONS:
Total Revenues	2,899	327
Net Income (Loss)	2,657	105
Company's Share of Income (Loss)	408	70
DC Charlotte Plaza LLLP
SUMMARY OF FINANCIAL POSITION:
Total Assets	39,156		17,940
Total Debt	0		0
Total Equity	34,255		17,073
Company’s Investment	17,475		8,937
SUMMARY OF OPERATIONS:
Total Revenues	2	47
Net Income (Loss)	2	45
Company's Share of Income (Loss)	1	24
Temco Associates, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	4,426		4,368
Total Debt	0		0
Total Equity	4,323		4,253
Company’s Investment	864		829
SUMMARY OF OPERATIONS:
Total Revenues	144	180
Net Income (Loss)	70	83
Company's Share of Income (Loss)	35	122
Wildwood Associates
SUMMARY OF FINANCIAL POSITION:
Total Assets	16,368		16,351
Total Debt	0		0
Total Equity	16,227		16,314
Company’s Investment	(1,186)		(1,143)
SUMMARY OF OPERATIONS:
Total Revenues	0	0
Net Income (Loss)	(86)	(106)
Company's Share of Income (Loss)	(43)	(53)
Crawford Long - CPI, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	28,621		27,523
Total Debt	71,690		72,822
Total Equity	(44,787)		(45,928)
Company’s Investment	(21,296)		(21,866)
SUMMARY OF OPERATIONS:
Total Revenues	9,017	9,101
Net Income (Loss)	2,285	2,005
Company's Share of Income (Loss)	1,142	1,003
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)	(2,592)	0
Courvoisier Centre JV, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	182,262		172,197
Total Debt	106,500		106,500
Total Equity	68,480		69,479
Company’s Investment	11,719		11,782
SUMMARY OF OPERATIONS:
Total Revenues	12,701	0
Net Income (Loss)	(1,000)	0
Company's Share of Income (Loss)	(80)	0
HICO Avalon II, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	987		0
Total Debt	0		0
Total Equity	532		0
Company’s Investment	4,366		0
SUMMARY OF OPERATIONS:
Total Revenues	0	0
Net Income (Loss)	(68)	0
Company's Share of Income (Loss)	0	0
AMCO 120 WT Holdings, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	13,286		10,446
Total Debt	0		0
Total Equity	12,678		9,136
Company’s Investment	939		184
SUMMARY OF OPERATIONS:
Total Revenues	0	0
Net Income (Loss)	(22)	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	0		$ 345
SUMMARY OF OPERATIONS:
Total Revenues	0	0
Net Income (Loss)	0	0
Company's Share of Income (Loss)	$ 0	$ 300

Investment in Unconsolidated 33

Investment in Unconsolidated Joint Ventures (Additional Information) (Details) - USD ($) $ in Thousands	May 03, 2017	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Investment [Line Items]
Net purchase price					$ 171,316	$ 21,088
Net distributions from unconsolidated joint ventures					40,207	5,893
Gain from unconsolidated joint ventures			$ 2,461	$ 1,527	$ 43,362	$ 5,144
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	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ 99,063	$ 53,483
Goodwill	1,674	1,674	$ 3,626	$ 3,647
Total intangible assets	211,786	245,529
In-place Leases
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	158,395	185,251
Accumulated amortization	85,806	46,899
Above-market Tenant Leases
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	33,580	40,260
Accumulated amortization	12,981	6,515
Below-market Ground Lease
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	18,137	18,344
Accumulated amortization	$ 276	$ 69

Intangible Assets (Goodwill Rol

Intangible Assets (Goodwill Rollforward) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 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	Sep. 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 $24,008 and $23,135 in 2017 and 2016, respectively	$ 14,849	$ 15,773
Lease inducements, net of accumulated amortization of $892 and $1,278 in 2017 and 2016, respectively	2,049	2,517
Prepaid expenses and other assets	9,764	8,432
Line of credit deferred financing costs, net of accumulated amortization of $2,905 and $2,264 in 2017 and 2016, respectively	1,428	2,182
Predevelopment costs and earnest money	80	179
Total other assets	28,170	29,083
Accumulated depreciation of furniture, fixtures and equipment, leasehold improvements, and other deferred costs	24,008	23,135
Accumulated amortization of lease inducements	892	1,278
Accumulated amortization of line of credit deferred financing costs	$ 2,905	$ 2,264

Notes Payable (Terms of Notes P

Notes Payable (Terms of Notes Payable) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Notes Payable, Gross	$ 1,100,903	$ 1,378,676
Unamortized premium, net	270	6,792
Unamortized loan costs	(5,996)	(4,548)
Total Notes Payable	$ 1,095,177	1,380,920
Term Loan, Unsecured
Debt Instrument [Line Items]
Interest Rate	2.43%
Notes Payable, Gross	$ 250,000	250,000
Mortgage Debt | Fifth Third Center
Debt Instrument [Line Items]
Interest Rate	3.37%
Notes Payable, Gross	$ 147,306	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	$ 103,113	105,342
Mortgage Debt | 816 Congress
Debt Instrument [Line Items]
Interest Rate	3.75%
Notes Payable, Gross	$ 83,702	84,872
Mortgage Debt | Meridian Mark Plaza
Debt Instrument [Line Items]
Interest Rate	6.00%
Notes Payable, Gross	$ 24,162	24,522
Mortgage Debt | The Pointe
Debt Instrument [Line Items]
Interest Rate	4.01%
Notes Payable, Gross	$ 22,620	$ 22,945
Mortgage Debt | 3344 Peachtree
Debt Instrument [Line Items]
Interest Rate		4.75%
Notes Payable, Gross	0	$ 78,971
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 Notes, Unsecured | 3.91% Senior Note, unsecured
Debt Instrument [Line Items]
Interest Rate	3.91%
Notes Payable, Gross	$ 250,000	0
Senior Notes, Unsecured | 4.09% 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		2.33%
Notes Payable, Gross	$ 0	$ 134,000

Notes Payable (Credit Facility)

Notes Payable (Credit Facility) (Details) - Credit Facility	9 Months Ended
	Sep. 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	$ 499,000,000
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	9 Months Ended
	Sep. 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		9 Months Ended
	Jul. 31, 2017USD ($)	Apr. 30, 2017USD ($)tranche	Sep. 30, 2017USD ($)
Debt Instrument [Line Items]
Debt amount		$ 350,000,000
Number of tranches | tranche		2
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%
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	Sep. 30, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Notes payable, fair value	$ 1.1	$ 1.4

Notes Payable (Other Informatio

Notes Payable (Other Information) (Details) - USD ($)	1 Months Ended				2 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2017	Jun. 30, 2017	May 31, 2017	Apr. 30, 2017	May 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Debt Disclosure [Abstract]
Total interest incurred						$ 10,288,000	$ 8,939,000	$ 32,360,000	$ 25,446,000
Less interest - discontinued operations						0	(1,956,000)	0	(5,896,000)
Interest capitalized						(2,701,000)	(1,229,000)	(6,509,000)	(2,988,000)
Total interest expense						7,587,000	5,754,000	25,851,000	16,562,000
Extinguishment of Debt [Line Items]
Gain (loss) on extinguishment of debt					$ 2,300,000	$ 429,000	$ 0	$ 2,258,000	$ 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 | 3344 Peachtree
Extinguishment of Debt [Line Items]
Amount repaid in full	$ 77,900,000
Mortgage Debt | ACS Center
Extinguishment of Debt [Line Items]
Amount repaid in full		$ 127,000,000
Gain (loss) on extinguishment of debt		$ (376,000)

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit and performance bonds	$ 3.7
Future obligations under leases to fund tenant improvements and other future construction obligations	188.3
Future obligations under ground and other operating leases	$ 209.5

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 12, 2017	Sep. 19, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity [Abstract]
Cash dividend declared (in usd per share)		$ 0.06	$ 0.06	$ 0.08	$ 0.24	$ 0.24
Class of Stock [Line Items]
Value of shares redeemed					$ 0
CPLP
Class of Stock [Line Items]
Aggregate value of units redeemed (in shares)					1,203,286
Value of shares redeemed					$ 10,100
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		9 Months Ended
	Sep. 30, 2017USD ($)award	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)awardshares	Sep. 30, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, net of forfeitures | $	$ 3,300	$ 141	$ 7,900	$ 4,800
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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator:
Income from continuing operations	$ 12,285	$ 2,920	$ 188,088	$ 17,857
Income from continuing operations available for common stockholders	12,067	2,920	184,907	17,857
Income from discontinued operations	0	8,737	0	24,361
Net income available for common stockholders	$ 12,067	$ 11,657	$ 184,907	$ 42,218
Denominator:
Weighted average common shares - basic	419,998	210,170	414,123	210,400
Income from continuing operations available for common stockholders (in usd per share)	$ 0.03	$ 0.01	$ 0.45	$ 0.08
Income from discontinued operations available for common stockholders (in usd per share)	0	0.05	0	0.12
Earnings per common share - basic (in usd per share)	$ 0.03	$ 0.06	$ 0.45	$ 0.20
Numerator:
Income from continuing operations	$ 12,285	$ 2,920	$ 188,088	$ 17,857
Income from continuing operations available for common stockholders before net income attributable to noncontrolling interests in CPLP	12,280	2,920	188,077	17,857
Income from discontinued operations available for common stockholders	0	8,737	0	24,361
Net income available for common stockholders before net income attributable to noncontrolling interests in CPLP	$ 12,280	$ 11,657	$ 188,077	$ 42,218
Denominator:
Weighted average shares — basic	419,998	210,170	414,123	210,400
Add:
Potential dilutive common shares - stock options	328	156	320	128
Weighted average units of CPLP convertible into common shares	6,974	0	7,511	0
Weighted average common shares - diluted	427,300	210,326	421,954	210,528
Income from continuing operations available for common stockholders before net income attributable to noncontrolling interests in CPLP (in usd per share)	$ 0.03	$ 0.01	$ 0.45	$ 0.08
Income from discontinued operations available for common stockholders (in usd per share)	0	0.05	0	0.12
Earnings per common share - diluted (in usd per share)	$ 0.03	$ 0.06	$ 0.45	$ 0.20
Stock Option
Add:
Weighted average anti-dilutive stock options outstanding (in shares)	731	1,103	740	1,110
CPLP
Numerator:
Net income attributable to other noncontrolling interests from continuing operations	$ (213)	$ 0	$ (3,170)	$ 0
Numerator:
Net income attributable to other noncontrolling interests from continuing operations	(213)	0	(3,170)	0
Other Noncontrolling Interests
Numerator:
Net income attributable to other noncontrolling interests from continuing operations	(5)	0	(11)	0
Numerator:
Net income attributable to other noncontrolling interests from continuing operations	$ (5)	$ 0	$ (11)	$ 0

Reportable Segments (Segment Ne

Reportable Segments (Segment Net Operating Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Total Net Operating Income	$ 75,815	$ 61,621	$ 236,097	$ 180,142
Houston
Segment Reporting Information [Line Items]
Total Net Operating Income		26,408		76,851
Atlanta
Segment Reporting Information [Line Items]
Total Net Operating Income	25,247	24,346	87,562	71,864
Austin
Segment Reporting Information [Line Items]
Total Net Operating Income	15,074	6,023	44,113	16,978
Charlotte
Segment Reporting Information [Line Items]
Total Net Operating Income	15,489	4,905	46,117	14,485
Orlando
Segment Reporting Information [Line Items]
Total Net Operating Income	3,356		10,464
Tampa
Segment Reporting Information [Line Items]
Total Net Operating Income	7,412		21,700
Phoenix
Segment Reporting Information [Line Items]
Total Net Operating Income	8,667		24,722
Other
Segment Reporting Information [Line Items]
Total Net Operating Income	570	(61)	1,419	(36)
Office
Segment Reporting Information [Line Items]
Total Net Operating Income	75,770	59,868	232,927	175,041
Office | Houston
Segment Reporting Information [Line Items]
Total Net Operating Income		26,408		76,851
Office | Atlanta
Segment Reporting Information [Line Items]
Total Net Operating Income	25,247	22,593	84,437	66,763
Office | Austin
Segment Reporting Information [Line Items]
Total Net Operating Income	15,074	6,023	44,113	16,978
Office | Charlotte
Segment Reporting Information [Line Items]
Total Net Operating Income	15,489	4,905	46,117	14,485
Office | Orlando
Segment Reporting Information [Line Items]
Total Net Operating Income	3,356		10,464
Office | Tampa
Segment Reporting Information [Line Items]
Total Net Operating Income	7,412		21,700
Office | Phoenix
Segment Reporting Information [Line Items]
Total Net Operating Income	8,667		24,722
Office | Other
Segment Reporting Information [Line Items]
Total Net Operating Income	525	(61)	1,374	(36)
Mixed-Use
Segment Reporting Information [Line Items]
Total Net Operating Income	45	1,753	3,170	5,101
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	0	1,753	3,125	5,101
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	$ 45	$ 0	$ 45	$ 0

Reportable Segments (Reconcilia

Reportable Segments (Reconciliation of Net Income to Net Operating Income) (Details) - USD ($)	2 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting [Abstract]
Net Operating Income		$ 75,815,000	$ 61,621,000	$ 236,097,000	$ 180,142,000
Net operating income from unconsolidated joint ventures		(6,934,000)	(6,760,000)	(23,719,000)	(20,359,000)
Net operating income from discontinued operations		0	(26,408,000)	0	(76,852,000)
Fee income		2,597,000	1,945,000	6,387,000	5,968,000
Other income		993,000	153,000	9,593,000	570,000
Reimbursed expenses		(895,000)	(795,000)	(2,667,000)	(2,463,000)
General and administrative expenses		(7,193,000)	(4,368,000)	(21,993,000)	(17,301,000)
Interest expense		(7,587,000)	(5,754,000)	(25,851,000)	(16,562,000)
Depreciation and amortization		(47,622,000)	(16,622,000)	(152,546,000)	(49,804,000)
Acquisition and transaction costs		677,000	(1,446,000)	(1,499,000)	(3,889,000)
Gain on extinguishment of debt	$ 2,300,000	429,000	0	2,258,000	0
Other expenses		(423,000)	(173,000)	(1,063,000)	(681,000)
Income from unconsolidated joint ventures		2,461,000	1,527,000	43,362,000	5,144,000
Gain (loss) on sale of investment properties		(33,000)	0	119,729,000	13,944,000
Income from discontinued operations		0	8,737,000	0	24,361,000
Net income		$ 12,285,000	$ 11,657,000	$ 188,088,000	$ 42,218,000

Reportable Segments (Segment Re

Reportable Segments (Segment Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Rental property revenues	$ 109,569	$ 46,575	$ 336,093	$ 138,382
Total rental property revenues	109,569	46,575	336,093	138,382
Office
Segment Reporting Information [Line Items]
Rental property revenues	109,569	46,575	336,093	138,382
Total rental property revenues	109,569	46,575	336,093	138,382
Mixed-Use
Segment Reporting Information [Line Items]
Rental property revenues	0	0	0	0
Total rental property revenues	0	0	0	0
Operating Segments
Segment Reporting Information [Line Items]
Rental property revenues	121,018	103,147	374,828	302,869
Total rental property revenues	121,018	103,147	374,828	302,869
Operating Segments | Houston
Segment Reporting Information [Line Items]
Rental property revenues		46,046		133,450
Total rental property revenues		46,046		133,450
Operating Segments | Atlanta
Segment Reporting Information [Line Items]
Rental property revenues	41,507	39,890	140,368	120,115
Total rental property revenues	41,507	39,890	140,368	120,115
Operating Segments | Austin
Segment Reporting Information [Line Items]
Rental property revenues	25,385	10,469	75,348	29,825
Total rental property revenues	25,385	10,469	75,348	29,825
Operating Segments | Charlotte
Segment Reporting Information [Line Items]
Rental property revenues	23,296	6,799	68,638	19,533
Total rental property revenues	23,296	6,799	68,638	19,533
Operating Segments | Orlando
Segment Reporting Information [Line Items]
Rental property revenues	6,408		19,380
Total rental property revenues	6,408		19,380
Operating Segments | Tampa
Segment Reporting Information [Line Items]
Rental property revenues	11,815		34,913
Total rental property revenues	11,815		34,913
Operating Segments | Phoenix
Segment Reporting Information [Line Items]
Rental property revenues	11,692		33,689
Total rental property revenues	11,692		33,689
Operating Segments | Other
Segment Reporting Information [Line Items]
Rental property revenues	915	(57)	2,492	(54)
Total rental property revenues	915	(57)	2,492	(54)
Operating Segments | Office
Segment Reporting Information [Line Items]
Rental property revenues	120,875	99,950	369,636	293,669
Total rental property revenues	120,875	99,950	369,636	293,669
Operating Segments | Office | Houston
Segment Reporting Information [Line Items]
Rental property revenues		46,046		133,450
Total rental property revenues		46,046		133,450
Operating Segments | Office | Atlanta
Segment Reporting Information [Line Items]
Rental property revenues	41,507	36,693	135,319	110,915
Total rental property revenues	41,507	36,693	135,319	110,915
Operating Segments | Office | Austin
Segment Reporting Information [Line Items]
Rental property revenues	25,385	10,469	75,348	29,825
Total rental property revenues	25,385	10,469	75,348	29,825
Operating Segments | Office | Charlotte
Segment Reporting Information [Line Items]
Rental property revenues	23,153	6,799	68,495	19,533
Total rental property revenues	23,153	6,799	68,495	19,533
Operating Segments | Office | Orlando
Segment Reporting Information [Line Items]
Rental property revenues	6,408		19,380
Total rental property revenues	6,408		19,380
Operating Segments | Office | Tampa
Segment Reporting Information [Line Items]
Rental property revenues	11,815		34,913
Total rental property revenues	11,815		34,913
Operating Segments | Office | Phoenix
Segment Reporting Information [Line Items]
Rental property revenues	11,692		33,689
Total rental property revenues	11,692		33,689
Operating Segments | Office | Other
Segment Reporting Information [Line Items]
Rental property revenues	915	(57)	2,492	(54)
Total rental property revenues	915	(57)	2,492	(54)
Operating Segments | Mixed-Use
Segment Reporting Information [Line Items]
Rental property revenues	143	3,197	5,192	9,200
Total rental property revenues	143	3,197	5,192	9,200
Operating Segments | Mixed-Use | Houston
Segment Reporting Information [Line Items]
Rental property revenues		0		0
Total rental property revenues		0		0
Operating Segments | Mixed-Use | Atlanta
Segment Reporting Information [Line Items]
Rental property revenues	0	3,197	5,049	9,200
Total rental property revenues	0	3,197	5,049	9,200
Operating Segments | Mixed-Use | Austin
Segment Reporting Information [Line Items]
Rental property revenues	0	0	0	0
Total rental property revenues	0	0	0	0
Operating Segments | Mixed-Use | Charlotte
Segment Reporting Information [Line Items]
Rental property revenues	143	0	143	0
Total rental property revenues	143	0	143	0
Operating Segments | Mixed-Use | Orlando
Segment Reporting Information [Line Items]
Rental property revenues	0		0
Total rental property revenues	0		0
Operating Segments | Mixed-Use | Tampa
Segment Reporting Information [Line Items]
Rental property revenues	0		0
Total rental property revenues	0		0
Operating Segments | Mixed-Use | Phoenix
Segment Reporting Information [Line Items]
Rental property revenues	0		0
Total rental property revenues	0		0
Operating Segments | Mixed-Use | Other
Segment Reporting Information [Line Items]
Rental property revenues	0	0	0	0
Total rental property revenues	0	0	0	0
Segment Reconciling Items
Segment Reporting Information [Line Items]
Less discontinued operations		(46,046)		(133,450)
Less Company's share of rental property revenues from unconsolidated joint ventures	(11,449)	(10,526)	(38,735)	(31,037)
Segment Reconciling Items | Office
Segment Reporting Information [Line Items]
Less discontinued operations		(46,046)		(133,450)
Less Company's share of rental property revenues from unconsolidated joint ventures	(11,306)	(7,329)	(33,543)	(21,837)
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	$ (143)	$ (3,197)	$ (5,192)	$ (9,200)