Cousins Properties (CUZ) 10-Q 30 Apr 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	Apr. 23, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-11312
Entity Registrant Name	COUSINS PROPERTIES INC
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	58-0869052
Entity Address, Address Line One	3344 Peachtree Road NE
Entity Address, Address Line Two	Suite 1800
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30326-4802
City Area Code	404
Local Phone Number	407-1000
Title of 12(b) Security	Common Stock, $1 par value per share
Trading Symbol	CUZ
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		148,539,690
Entity Central Index Key	0000025232
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Real estate assets:
Operating properties, net of accumulated depreciation of $633,654 and $577,139 in 2020 and 2019, respectively	$ 5,740,337	$ 5,669,324
Projects under development	368,414	410,097
Land	97,354	116,860
Total real estate assets	6,206,105	6,196,281
Real estate assets and other assets held for sale, net of accumulated depreciation and amortization of $61,093 in 2019	0	360,582
Cash and cash equivalents	124,632	15,603
Restricted cash	1,947	2,005
Notes and accounts receivable	28,533	23,680
Deferred rents receivable	109,458	102,314
Investment in unconsolidated joint ventures	128,916	133,884
Intangible assets, net	240,286	257,649
Other assets	62,057	59,449
Total assets	6,901,934	7,151,447
Liabilities:
Notes payable	1,944,034	2,222,975
Accounts payable and accrued expenses	144,984	209,904
Deferred income	55,290	52,269
Intangible liabilities, net of accumulated amortization of $61,084 and $55,798 in 2020 and 2019, respectively	77,819	83,105
Other liabilities	120,809	134,128
Liabilities of real estate assets held for sale, net of accumulated amortization of $7,771 in 2019	0	21,231
Total liabilities	2,342,936	2,723,612
Commitments and contingencies
Stockholders' investment:
Preferred stock, $1 par value, 20,000,000 shares authorized, 1,716,837 shares issued and outstanding in 2019	0	1,717
Common stock, $1 par value, 300,000,000 shares authorized, 151,124,621 and 149,347,382 shares issued in 2020 and 2019, respectively	151,125	149,347
Additional paid-in capital	5,538,875	5,493,883
Treasury stock at cost, 2,584,933 shares in 2020 and 2019	(148,473)	(148,473)
Distributions in excess of cumulative net income	(1,006,820)	(1,137,200)
Total stockholders' investment	4,534,707	4,359,274
Nonredeemable noncontrolling interests	24,291	68,561
Total equity	4,558,998	4,427,835
Total liabilities and equity	$ 6,901,934	$ 7,151,447

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Accumulated depreciation on operating properties	$ 633,654	$ 577,139
Real estate assets and other assets held for sale, accumulated depreciation and amortization	0	61,093
Accumulated amortization on intangible liabilities	61,084	55,798
Accumulated amortization on liabilities of real estate assets held for sale	$ 0	$ 7,771
Preferred stock, par value (in usd per share)	$ 1	$ 1
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	1,716,837
Preferred stock, shares outstanding	0	1,716,837
Common stock, par value (in usd per share)	$ 1	$ 1
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	151,124,621	149,347,382
Treasury stock, shares	2,584,933	2,584,933

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Revenues	$ 193,898	$ 132,733
Expenses:
Rental property operating expenses	64,538	43,487
Reimbursed expenses	521	932
General and administrative expenses	5,652	11,460
Interest expense	15,904	10,820
Depreciation and amortization	71,614	45,861
Transaction costs	365	3
Other	566	180
Total costs and expenses	159,160	112,743
Income from unconsolidated joint ventures	3,425	2,904
Gain on sales of investments in unconsolidated joint ventures	46,230	0
Gain on investment property transactions	90,916	13,111
Net income	175,309	36,005
Net income attributable to noncontrolling interests	(366)	(664)
Net income available to common stockholders	$ 174,943	$ 35,341
Net income per common share — basic (in usd per share)	$ 1.19	$ 0.34
Net income per common share — diluted (in usd per share)	$ 1.18	$ 0.34
Weighted average shares — basic (in shares)	147,424	105,127
Weighted average shares — diluted (in shares)	148,561	106,901
Rental property revenues
Revenues:
Revenues	$ 189,129	$ 123,865
Fee income
Revenues:
Revenues	4,732	8,728
Other
Revenues:
Revenues	$ 37	$ 140

Condensed Consolidated Statem_2

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, 2018	$ 2,821,156	$ 1,717	$ 107,681	$ 3,934,385	$ (148,473)	$ (1,129,445)	$ 2,765,865	$ 55,291
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	36,005					35,341	35,341	664
Common stock issued pursuant to stock based compensation	(904)		50	(954)			(904)
Amortization of stock options and restricted stock, net of forfeitures	607			607			607
Contributions from nonredeemable noncontrolling interests	2,581							2,581
Distributions to nonredeemable noncontrolling interests	(724)							(724)
Common dividends	(30,492)					(30,492)	(30,492)
Ending balance at Mar. 31, 2019	2,828,229	1,717	107,731	3,934,038	(148,473)	(1,124,596)	2,770,417	57,812
Beginning balance at Dec. 31, 2019	4,427,835	1,717	149,347	5,493,883	(148,473)	(1,137,200)	4,359,274	68,561
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	175,309					174,943	174,943	366
Common stock issued pursuant to stock based compensation	(1,265)		60	(1,325)			(1,265)
Common stock issued pursuant to unitholder redemption	0	(1,717)	1,719	45,032			45,034	(45,034)
Amortization of stock options and restricted stock, net of forfeitures	1,284		(1)	1,285			1,284
Contributions from nonredeemable noncontrolling interests	1,036							1,036
Distributions to nonredeemable noncontrolling interests	(638)							(638)
Common dividends	(44,563)					(44,563)	(44,563)
Ending balance at Mar. 31, 2020	$ 4,558,998	$ 0	$ 151,125	$ 5,538,875	$ (148,473)	$ (1,006,820)	$ 4,534,707	$ 24,291

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends per common share (in usd per share)	$ 0.30	$ 0.29

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 175,309	$ 36,005
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on investment properties transactions	(90,916)	(13,111)
Depreciation and amortization	71,614	45,861
Amortization of deferred financing costs and premium/discount on notes payable	(216)	615
Stock-based compensation expense, net of forfeitures	1,284	607
Effect of non-cash adjustments to revenues	(13,602)	(11,933)
Income from unconsolidated joint ventures	(3,425)	(2,904)
Income from unconsolidated joint ventures	(46,230)	0
Operating distributions from unconsolidated joint ventures	1,829	2,536
Changes in other operating assets and liabilities:
Change in other receivables and other assets, net	(13,661)	(1,720)
Change in operating liabilities, net	(69,022)	(11,455)
Net cash provided by operating activities	12,964	44,501
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from investment property sales	433,875	57,676
Proceeds from sales of investments in unconsolidated joint ventures	53,104	0
Property acquisition, development, and tenant asset expenditures	(67,983)	(122,785)
Investment in unconsolidated joint ventures	(1,238)	(5,566)
Change in notes receivable and other assets	26	(23)
Net cash provided by (used in) investing activities	417,784	(70,698)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from credit facility	280,500	160,000
Repayment of credit facility	(532,000)	(103,600)
Repayment of notes payable	(26,849)	(2,710)
Contributions from nonredeemable noncontrolling interests	1,036	2,581
Distributions to nonredeemable noncontrolling interests	(638)	(724)
Common dividends paid	(42,561)	(27,326)
Other	(1,265)	(1,093)
Net cash provided by (used in) financing activities	(321,777)	27,128
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	108,971	931
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD	17,608	2,695
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD	$ 126,579	$ 3,626

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
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 over 99% of CPLP and consolidates CPLP. CPLP owns Cousins TRS Services LLC ("CTRS"), 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 (collectively, the "Company") develop, acquire, lease, manage, and own Class A office and mixed-use properties in Sun Belt markets with a focus on Georgia, Texas, North Carolina, Arizona, and Florida. 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. As of March 31, 2020 , the Company's portfolio of real estate assets consisted of interests in 19.0 million square feet of office space and 310,000 square feet of mixed-use space. 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 March 31, 2020 and the results of operations for the three months ended March 31, 2020 and 2019 . The results of operations for the three months ended March 31, 2020 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, 2019 . The accounting policies employed are substantially the same as those shown in note 2 to the consolidated financial statements included therein. On June 14, 2019, the Company restated and amended its articles of incorporation to effect a reverse stock split of the issued and outstanding shares of its common and preferred stock pursuant to which (1) each four shares of the Company's issued and outstanding common stock and preferred stock were combined into one share of the Company's common or preferred stock, respectively, and (2) the authorized number of the Company's common stock was proportionally reduced to 175 million shares. Fractional shares of common stock resulting from the reverse stock split were settled in cash. Fractional shares of preferred stock resulting from the reverse stock split were redeemed without payout. Immediately thereafter, the Company further amended its articles of incorporation to increase the number of authorized shares of its common stock from 175 million to 300 million shares. All shares of common stock, preferred stock, stock options, restricted stock units, and per share information presented in the condensed consolidated financial statements have been adjusted to reflect the reverse stock split on a retroactive basis for all periods presented. For the three months ended March 31, 2020 and 2019 , there were no items of other comprehensive income. Therefore, no presentation of comprehensive income is required. The Company evaluates all partnerships, joint ventures, and other arrangements with variable interests to determine if the entity or arrangement qualifies as a variable interest entity ("VIE"), as defined in the Financial Accounting Standard Board's ("FASB") Accounting Standards Codification ("ASC"). If the entity or arrangement qualifies as a VIE and the Company is determined to be the primary beneficiary, the Company is required to consolidate the assets, liabilities, and results of operations of the VIE. At March 31, 2020 , the Company had no investments or interests in any VIEs.

Merger With Tier REIT, Inc.

Merger With Tier REIT, Inc.	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
MERGER WITH TIER REIT, INC.	MERGER WITH TIER REIT, INC. On June 14, 2019, pursuant to the Agreement and Plan of Merger dated March 25, 2019 (the “Merger Agreement”), by and among the Company and TIER REIT, Inc. (“TIER”), TIER merged with and into a 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 share of TIER common stock issued and outstanding immediately prior to the Merger, was converted into 2.98 newly issued pre-reverse split shares of the Company’s common stock with fractional shares being settled in cash. In the Merger, former TIER common stockholders received approximately 166 million pre-reverse split shares of common stock of the Company. As discussed in note 1 to the condensed consolidated financial statements, immediately following the Merger, the Company completed a 1-for- 4 reverse stock split. The Merger has been accounted for as a business combination with the Company as the accounting acquirer, which requires, among other things, that the assets acquired and liabilities assumed be recognized at their acquisition date fair value. The total value of the transaction is based on the closing stock price of the Company's common stock on June 13, 2019, the day immediately prior to the closing of the Merger. Based on the shares issued in the transaction, the total fair value of the assets acquired and liabilities assumed in the Merger was $1.6 billion . During the three months ended March 31, 2020 and 2019 , the Company incurred expenses related to the Merger of $365,000 and $3,000 , respectively. Management engaged a third party valuation specialist to assist with valuing the real estate assets acquired and liabilities assumed in the Merger. The third party used cash flow analyses as well as an income approach and a cost approach to determine the fair value of real estate assets acquired. Based on additional information that may become available, subsequent adjustments may be made to the purchase price allocation within the allocation period, which typically does not exceed one year. The purchase price was allocated as follows (in thousands): Real estate assets $ 2,202,712 Real estate assets held for sale 21,395 Cash and cash equivalents 84,042 Restricted cash 1,947 Notes and other receivables 6,524 Investment in unconsolidated joint ventures 331 Intangible assets 141,184 Other assets 9,954 2,468,089 Notes payable 747,549 Accounts payable and accrued expenses 53,054 Deferred income 8,131 Intangible liabilities 47,988 Other liabilities 7,676 Nonredeemable noncontrolling interests 5,329 869,727 Total purchase price $ 1,598,362 During the three months ended March 31, 2020 , the Company recorded revenues of $51.0 million related to assets acquired in the Merger. The following unaudited supplemental pro forma information is based upon the Company's historical condensed consolidated statements of operations, adjusted as if the Merger had occurred on January 1, 2018. The supplemental pro forma information is not necessarily indicative of future results, or of actual results, that would have been achieved had the Merger been consummated on January 1, 2018. Three Months Ended March 31, 2019 Revenues $ 185,765 Net income 26,165 Net income available to common stockholders 25,870 Supplemental pro forma earnings were adjusted to exclude $3,000 of transaction costs incurred in the three months ended March 31, 2019

Transactions with Norfolk South

Transactions with Norfolk Southern Railway Company	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
TRANSACTIONS WITH NORFOLK SOUTHERN RAILWAY COMPANY	TRANSACTIONS WITH NORFOLK SOUTHERN RAILWAY COMPANY On March 1, 2019, the Company entered into a series of agreements and executed related transactions with Norfolk Southern Railway Company (“NS”) as follows: • Sold land to NS for $52.5 million . • Executed a Development Agreement with NS whereby the Company will receive fees totaling $5 million in consideration for development services for NS’s corporate headquarters that is being constructed on the land sold to NS. • Executed a Consulting Agreement with NS whereby the Company will receive fees totaling $32 million in consideration for consulting services for NS’s corporate headquarters. The Development Agreement and Consulting Agreement are collectively referred to below as the “Fee Agreements.” • Purchased a building from NS (“1200 Peachtree”) for $82 million subject to a three-year market rate lease with NS that covers the entire building. The Company sold the land to NS for $5.0 million above its carrying amount, which included $37.0 million of land purchased in 2018, $6.5 million of land purchased in 2019, and $4.0 million of site preparation work. The Company purchased 1200 Peachtree from NS for an amount it determined to be $10.3 million below the building’s fair value. The Company determined that all contracts and transactions associated with NS should be combined for accounting purposes, and the amounts exchanged under the combined contracts should be allocated to the various components of the overall transaction at fair value or market value as discussed below. The Company determined that the purchase of 1200 Peachtree should be recorded at fair value of $92.3 million . The Company determined that the lease with NS at the 1200 Peachtree building was at market value under ASC 842. The land sale was accounted for under ASC 610-20 and no gain or loss was recorded on the derecognition of this non-financial asset as the fair value was determined to equal the carrying amount. Consideration related to various services provided to NS, and accounted for under ASC 606, was determined to be $52.3 million and represents the negotiated market value for the services agreed to by the Company and NS in the contracts. This amount included non-cash consideration of the $10.3 million discount on the purchase of 1200 Peachtree as well as cash consideration of $5 million from the land sale contract (difference between fair value and contract amount), $5 million from the Development Agreement, and $32 million from the Consulting Agreement. Since all of the agreements and contracts above were executed for the purpose of delivering and constructing a corporate headquarters for NS and all of the services and deliverables are highly interdependent, the Company determined that the services represent a single performance obligation under ASC 606. The Company determined that control of the services to be provided is being transferred over time and, thus, the Company must recognize the $52.3 million contract price in revenue as it satisfies the performance obligation. The Company determined that the inputs method of measuring progress of satisfying the performance obligation was the most appropriate method of recognizing revenue for the services component. Therefore, the Company began recognizing revenue in the quarter ended March 31, 2019 , and will recognize future revenue based upon the time spent by the Company’s employees in providing these services as compared to the total estimated time required to satisfy the performance obligation. During the three months ended March 31, 2020 and 2019, the Company recognized $3.7 million and $6.6 million , respectively, in fee income in its condensed consolidated statements of operations related to the services provided to NS. As of March 31, 2020 and December 31, 2019 , the Company had deferred income included in the consolidated balance sheet of $9.9 million and $11.3 million , respectively, related to NS.

Real Estate Transactions

Real Estate Transactions	3 Months Ended
	Mar. 31, 2020
Real Estate [Abstract]
REAL ESTATE TRANSACTIONS	REAL ESTATE TRANSACTIONS During March 2020, the Company sold Hearst Tower, a 966,000 square foot office building in Charlotte, North Carolina that was included in the Company's Charlotte/Office operating segment, for a gross purchase price of $455.5 million . This transaction was triggered by the exercise of a purchase option by the building's primary lessee. The Company recognized a gain of $90.9 million on the sale of Hearst Tower. During February 2020, as part of the Company's strategy in regards to disposal of non-core assets, the Company sold Woodcrest, a 386,000 square foot office property in Cherry Hill, New Jersey that was included in the Company's Other/Office operating segment, for a gross purchase price of $25.3 million . The Company acquired Woodcrest in the Merger with TIER and did not record any gain or loss on the sale of Woodcrest. During February 2019, the Company sold air rights that cover eight acres in Downtown Atlanta for a gross sales price of $13.3 million and recorded a gain of $13.1 million .

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Ventures	3 Months Ended
	Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	INVESTMENT IN UNCONSOLIDATED JOINT VENTURES The following information summarizes financial data and principal activities of the Company's unconsolidated joint ventures. The information included in the following table entitled summary of financial position is as of March 31, 2020 and December 31, 2019 (in thousands). The information included in the summary of operations table is for the three months ended March 31, 2020 and 2019 (in thousands): Total Assets Total Debt Total Equity Company’s Investment SUMMARY OF FINANCIAL POSITION: 2020 2019 2020 2019 2020 2019 2020 2019 DC Charlotte Plaza LLLP $ 179,082 $ 179,694 $ — $ — $ 92,162 $ 90,373 $ 48,807 $ 48,058 Austin 300 Colorado Project, LP 140,520 112,630 42,226 21,430 68,145 68,101 37,239 36,846 AMCO 120 WT Holdings, LLC 79,703 77,377 — — 74,908 70,696 14,146 13,362 Carolina Square Holdings LP 102,523 114,483 76,074 75,662 24,735 25,184 13,816 14,414 HICO Victory Center LP 15,543 16,045 — — 15,479 15,353 10,460 10,373 Charlotte Gateway Village, LLC — 109,675 — — — 106,651 — 6,718 Wildwood Associates — 11,061 — — — 10,978 — (521 ) (1) Crawford Long - CPI, LLC 30,069 28,459 67,543 67,947 (39,215 ) (40,250 ) (18,708 ) (1) (19,205 ) (1) Other 8,899 8,879 — — 7,353 7,318 4,448 4,113 $ 556,339 $ 658,303 $ 185,843 $ 165,039 $ 243,567 $ 354,404 $ 110,208 $ 114,158 Total Revenues Net Income (Loss) Company's Share of Income (Loss) SUMMARY OF OPERATIONS: 2020 2019 2020 2019 2020 2019 Charlotte Gateway Village, LLC $ 6,572 $ 6,743 $ 3,296 $ 2,524 $ 1,647 $ 1,262 DC Charlotte Plaza LLLP 5,276 410 1,789 410 750 205 Crawford Long - CPI, LLC 3,343 3,129 1,035 889 497 424 Carolina Square Holdings LP 3,706 3,294 530 170 254 58 HICO Victory Center LP 126 130 126 130 63 62 Austin 300 Colorado Project, LP 98 126 44 72 22 36 Terminus Office Holdings LLC — 11,797 — 1,831 — 880 AMCO 120 WT Holdings, LLC 138 — (509 ) (10 ) (141 ) — Other 196 32 61 (39 ) 333 (23 ) $ 19,455 $ 25,661 $ 6,372 $ 5,977 $ 3,425 $ 2,904 (1) Negative bases are included in deferred income on the condensed consolidated balance sheets. In March 2020, the Company sold its interest in Charlotte Gateway Village, LLC ("Gateway"), which owned a 1.1 million square foot office building in Charlotte, North Carolina, to its partner for a gross purchase price of $52.2 million . The sale was triggered by the exercise of the partner's purchase option and the proceeds from this sale represent a 17% internal rate of return for the Company on its invested capital, as stipulated in the partnership agreement. The Company recognized a gain of $44.9 million on the sale of its interest in Gateway. In February 2020, as part of its strategy in regards to disposal of non-core assets, the Company sold its remaining interest in the Wildwood Associates joint venture, which owned a 6.3 acre parcel of land in Atlanta, to its venture partner for a gross purchase price of $900,000 . The Company recognized a gain of $1.3 million on the sale of its interest in Wildwood Associates, which included elimination of the remaining negative basis in the joint venture of $520,000 . In April 2020, the Carolina Square Holdings LP joint venture executed an amendment for its associated construction loan, extending the maturity date from May 2020 to May 2021 and reducing the spread over LIBOR from 1.90% to 1.25% .

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS Intangible assets on the balance sheets as of March 31, 2020 and December 31, 2019 included the following (in thousands): 2020 2019 In-place leases, net of accumulated amortization of $178,757 and $163,867 in 2020 and 2019, respectively $ 187,870 $ 202,760 Above-market tenant leases, net of accumulated amortization of $28,892 and $26,487 in 2020 and 2019, respectively 33,295 35,699 Below-market ground lease, net of accumulated amortization of $966 and $897 in 2020 and 2019, respectively 17,447 17,516 Goodwill 1,674 1,674 $ 240,286 $ 257,649 The carrying amount of goodwill did not change during the three months ended March 31, 2020 and 2019 .

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets on the condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019 included the following (in thousands): 2020 2019 Predevelopment costs and earnest money $ 19,491 $ 25,586 Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $30,039 and $29,131 in 2020 and 2019, respectively 17,890 17,791 Prepaid expenses and other assets 15,036 5,924 Lease inducements, net of accumulated amortization of $2,563 and $2,333 in 2020 and 2019, respectively 5,500 5,632 Line of credit deferred financing costs, net of accumulated amortization of $3,328 and $2,952 in 2020 and 2019, respectively 4,140 4,516 $ 62,057 $ 59,449

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE The following table summarizes the terms of notes payable outstanding at March 31, 2020 and December 31, 2019 ($ in thousands): Description Interest Rate Maturity (1) 2020 2019 Unsecured Notes: Credit Facility, Unsecured 2.04% 2023 $ — $ 251,500 Term Loan, Unsecured 2.19% 2021 250,000 250,000 2019 Senior Notes, Unsecured 3.95% 2029 275,000 275,000 2017 Senior Notes, Unsecured 3.91% 2025 250,000 250,000 2019 Senior Notes, Unsecured 3.86% 2028 250,000 250,000 2019 Senior Notes, Unsecured 3.78% 2027 125,000 125,000 2017 Senior Notes, Unsecured 4.09% 2027 100,000 100,000 1,250,000 1,501,500 Secured Mortgage Notes: Fifth Third Center 3.37% 2026 139,522 140,332 Terminus 100 5.25% 2023 117,375 118,146 Colorado Tower 3.45% 2026 116,486 117,085 Promenade 4.27% 2022 95,152 95,986 816 Congress 3.75% 2024 79,554 79,987 Terminus 200 3.79% 2023 75,654 76,079 Legacy Union One 4.24% 2023 66,000 66,000 Meridian Mark Plaza 6.00% 2020 — 22,978 689,743 716,593 $ 1,939,743 $ 2,218,093 Unamortized premium 10,323 11,239 Unamortized loan costs (6,032 ) (6,357 ) Total Notes Payable $ 1,944,034 $ 2,222,975 (1) Weighted average maturity of notes payable outstanding at March 31, 2020 was 5.7 years . Credit Facility The Company has a $1 billion senior unsecured line of credit (the "Credit Facility") that matures on January 3, 2023. The Credit Facility contains financial covenants that require, among other things, the maintenance of an unencumbered interest coverage ratio of at least 1.75 ; a fixed charge coverage ratio of at least 1.50 ; a secured leverage ratio of no more than 40% ; and an overall leverage ratio of no more than 60% . 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 Offering Rate ("LIBOR") plus a spread of between 1.05% and 1.45% , 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% or 0.45% , based on leverage. At March 31, 2020 , the Credit Facility's spread over LIBOR was 1.05% . 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 $1.0 billion at March 31, 2020 . Term Loan The Company has a $250 million unsecured term loan (the "Term Loan") that matures on December 2, 2021 . The Term Loan has 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 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 1.00% (the “Base Rate”), plus a spread of between 0.00% and 0.75% , based on leverage. At March 31, 2020 , the Term Loan's spread over LIBOR was 1.20% . Unsecured Senior Notes The Company has unsecured senior notes of $1.0 billion that were funded in five tranches. The first tranche of $100 million is due in 2027 and has a fixed annual interest rate of 4.09% . The second tranche of $250 million is due in 2025 and has a fixed annual interest rate of 3.91% . The third tranche of $125 million is due in 2027 and has a fixed annual interest rate of 3.78% . The fourth tranche of $250 million is due in 2028 and has a fixed annual interest rate of 3.86% . The fifth tranche of $275 million is due in 2029 and has a fixed annual interest rate of 3.95% . The unsecured senior notes contain financial covenants that require, among other things, the maintenance of an unencumbered interest coverage ratio of at least 1.75 ; a fixed charge coverage ratio of at least 1.50 ; an overall leverage ratio of no more than 60% ; and a secured leverage ratio of no more than 40% . The senior notes also contain customary representations and warranties and affirmative and negative covenants, as well as customary events of default. Mortgage Notes On February 3, 2020, the Company prepaid in full, without penalty, the $23.0 million Meridian Mark Plaza mortgage note. Other Debt Information At March 31, 2020 and December 31, 2019 , the estimated fair value of the Company’s notes payable were $2.0 billion and $2.3 billion , respectively, calculated by discounting the debt's remaining contractual cash flows at estimated rates at which similar loans could have been obtained at March 31, 2020 and December 31, 2019 . 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 as the Company utilizes market rates for similar type loans from third party brokers. For the three months ended March 31, 2020 and 2019 , interest expense was recorded as follows (in thousands): 2020 2019 Total interest incurred $ 21,213 $ 11,835 Interest capitalized (5,309 ) (1,015 ) Total interest expense $ 15,904 $ 10,820

Other Liabilities

Other Liabilities	3 Months Ended
	Mar. 31, 2020
Other Liabilities Disclosure [Abstract]
Other Liabilities	OTHER LIABILITIES Other liabilities on the condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019 included the following (in thousands): 2020 2019 Ground lease liability $ 59,277 $ 59,379 Prepaid rent 30,841 33,428 Security deposits 12,900 13,545 Restricted stock unit liability 6,169 16,592 Other liabilities 11,622 11,184 $ 120,809 $ 134,128

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments At March 31, 2020 , the Company had outstanding performance bonds totaling $1.1 million . As a lessor, the Company had $237.1 million in future obligations under leases to fund tenant improvements and other future construction obligations at March 31, 2020 . 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. Contingencies Recent events related to the COVID-19 pandemic and the actions taken to contain it have created substantial uncertainty for all businesses, including the Company. The Company’s financial statements as of and for the three months ended March 31, 2020 have been prepared in light of these circumstances. We have continued to follow the policies described in our footnotes in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, including those related to impairment and estimates of the likelihood of collectibility of amounts due from tenants. While the results of our current analysis did not result in any impairments or material valuation adjustments to amounts due from tenants as of March 31, 2020, circumstances related to the COVID-19 pandemic may result in recording impairments or material valuation adjustments to amounts due from tenants in future periods. While the Company has not been obligated contractually or by law to provide its tenants with rent relief related to COVID-19, it will recognize any associated rent reductions in the period during which those obligations occur. Otherwise any COVID-19 related changes in negotiated rents or leasing terms will be accounted for as lease modifications and the Company will recognize the effects over time.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY In the first quarter of 2020, the Company issued 1.7 million shares of common stock in connection with the redemption of 1.7 million limited partnership units in CPLP. Each of the redeemed limited partnership units in CPLP was "paired" with a share of limited voting preferred stock with a par value of $1 per share. The shares of limited voting preferred stock were automatically redeemed by Cousins without consideration when their paired limited partnership unit in CPLP was redeemed. Holders of limited voting preferred stock are entitled to one vote on the following matters only: the election of directors, any proposed amendment of the Company's Articles of Incorporation, any merger or other business combination of the Company, any sale of substantially all of the Company's assets, and any liquidation of the Company. Holders of limited voting preferred stock are not entitled to any dividends or distributions and the limited voting preferred stock is not convertible into or exchangeable for any other property or securities of the Company. As of March 31, 2020, the Company had no preferred stock outstanding.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [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”). The Company's compensation expense for the three months ended March 31, 2020 relates to restricted stock and RSUs awarded in 2017, 2018, 2019, and 2020. Restricted stock and the 2020 RSUs are equity-classified awards for which the compensation expense per share is fixed. The 2018 and 2019 RSUs are liability-classified awards for which the expense fluctuates from period to period dependent, in part, on both the Company's stock price and on the Company's stock performance relative to its peers. For the three months ended March 31, 2020 and 2019 , stock-based compensation expense, net of forfeitures, was recorded as follows (in thousands): 2020 2019 Equity-classified awards $ 1,284 $ 607 Liability-classified awards (1,020 ) 4,921 Total stock-based compensation expense, net of forfeitures $ 264 $ 5,528 On April 23, 2019, the Company's stockholders approved the Cousins Properties Incorporated 2019 Omnibus Incentive Stock Plan (the "2019 Plan"). The Company also maintains the Cousins Properties Incorporated 2009 Incentive Stock Plan (the "2009 Plan") and the Cousins Properties Incorporated 2005 Restricted Stock Unit Plan (the “RSU Plan”), although no further issuances are permitted under the 2009 plan or RSU Plan. Under the 2019 Plan, during the three months ended March 31, 2020 , the Company made restricted stock grants of 71,421 shares to key employees, which vest ratably over a three-year period . Also under the 2019 Plan, during the three months ended March 31, 2020 , the Company awarded two types of RSUs to key employees based on the following metrics: (1) Total Stockholder Return of the Company, as defined in the 2019 Plan, as compared to the companies in the SNL US REIT Office index (“Market-based RSUs”), and (2) the ratio of cumulative funds from operations (“FFO”) per share to targeted cumulative FFO per share (“Performance-based RSUs”), as defined in the 2019 Plan. The measurement period for both awards is January 1, 2020 to December 31, 2022 , and the targeted units awarded of Market-based RSUs and Performance-based RSUs was 71,038 and 30,447 , respectively. The ultimate settlement 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, 2022 and are to be settled in the Company’s common stock with settlement dependent on attainment of required service, market, and performance criteria. The number of RSUs vesting will be determined by the Compensation Committee. The Company expenses an estimate of the fair value of the Market-based RSUs, calculated using a Monte Carlo valuation at grant date, ratably over the vesting period, adjusting for forfeitures when they occur. The Performance-based RSUs are expensed over the vesting period based on the Company’s share price on the grant date. The expense is recognized ratably over the vesting period and adjusted each quarter based on the number of shares expected to vest and for forfeitures when they occur. Dividend equivalents on the Market-based RSUs and the Performance-based RSUs will also be settled in shares of the Company’s common stock based upon the number of units vested. The company’s stock compensation for stock options, restricted stock, and RSUs granted in 2018 and 2019 is described in note 15 of the notes to consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2019.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION The Company categorizes its primary sources of revenue into revenue from contracts with customers and other revenue accounted for as leases under ASC 842 as follows: • Rental property revenues consist of (1) contractual revenues from leases recognized on a straight-line basis over the term of the respective lease; (2) percentage rents recognized once a specified sales target is achieved; (3) parking revenue; (4) termination fees; and (5) the reimbursement of the tenants' share of real estate taxes, insurance, and other operating expenses. The Company's leases typically include renewal options and are classified and accounted for as operating leases. Rental property revenues are accounted for in accordance with the guidance set forth in ASC 842. • Fee income consists of development fees, management fees, and leasing fees earned from unconsolidated joint ventures and from third parties. Fee income is accounted for in accordance with the guidance set forth in ASC 606. For the three months ended March 31, 2020 and 2019 , the Company recognized rental property revenues of $189.1 million and $123.9 million , respectively, of which $54.1 million and $32.6 million , respectively, represented variable rental revenue. For the three months ended March 31, 2020 and 2019 , the Company recognized fee and other revenue of $4.8 million and $8.9 million

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2020
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 months ended March 31, 2020 and 2019 (in thousands): Three Months Ended March 31, 2020 2019 Earnings per Common Share - basic: Numerator: Net income $ 175,309 $ 36,005 Net income attributable to noncontrolling interests in CPLP from continuing operations (302 ) (588 ) Net income attributable to other noncontrolling interests (64 ) (76 ) Net income available to common stockholders $ 174,943 $ 35,341 Denominator: Weighted average common shares - basic 147,424 105,127 Net income per common share - basic $ 1.19 $ 0.34 Earnings per common share - diluted: Numerator: Net income $ 175,309 $ 36,005 Net income attributable to other noncontrolling interests (64 ) (76 ) Net income available for common stockholders before allocation of net income attributable to noncontrolling interests in CPLP $ 175,245 $ 35,929 Denominator: Weighted average common shares - basic 147,424 105,127 Add: Potential dilutive common shares - stock options 15 30 Potential dilutive common shares - restricted stock units, less shares assumed purchased at market price 2 — Weighted average units of CPLP convertible into common shares 1,120 1,744 Weighted average common shares - diluted 148,561 106,901 Net income per common share - diluted $ 1.18 $ 0.34 Antidilutive restricted stock units, less share assumed purchased at market price 3 — For the three months ended March 31, 2020 , 3,000 restricted stock units, less shares assumed purchased at market price, were not included in the diluted weighted average common shares because they would have been antidilutive for the period presented. These restricted stock units could be dilutive in the future.

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - Supplemental Information	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - SUPPLEMENTAL INFORMATION	CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - SUPPLEMENTAL INFORMATION Supplemental information related to the cash flows, including significant non-cash activity affecting the condensed consolidated statement of cash flows, for the three months ended March 31, 2020 and 2019 is as follows (in thousands): 2020 2019 Interest paid $ 27,288 $ 31,601 Non-Cash Activity: Transfers from projects under development to operating properties 95,185 — Common stock dividends declared and accrued 44,563 30,492 Transfer from land held and other assets to projects under development 29,121 — Change in accrued property, acquisition, development, and tenant expenditures 13,845 11,085 Ground lease right-of-use assets and associated liabilities — 56,294 Non-cash consideration for property acquisition — 10,071 The following table provides a reconciliation of cash, cash equivalents, and restricted cash recorded on the condensed consolidated balance sheets to cash, cash equivalents, and restricted cash in the condensed consolidated statements of cash flows (in thousands): March 31, 2020 December 31, 2019 Cash and cash equivalents $ 124,632 $ 15,603 Restricted cash 1,947 2,005 Total cash, cash equivalents, and restricted cash $ 126,579 $ 17,608

Reportable Segments

Reportable Segments	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
REPORTABLE SEGMENTS	REPORTABLE SEGMENTS The Company's segments are based on its 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, Dallas, Phoenix, Tampa, and Other. Included in Other is a property in Cherry Hill, New Jersey that was sold in February 2020 and properties located in Chapel Hill, Fort Worth, and Houston. 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 termination fees, 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 months ended March 31, 2020 and 2019 are as follows (in thousands): Three Months Ended March 31, 2020 Office Mixed-Use Total Net Operating Income: Atlanta $ 44,855 $ (60 ) $ 44,795 Austin 29,294 — 29,294 Charlotte 22,113 — 22,113 Dallas 3,639 — 3,639 Phoenix 9,793 — 9,793 Tampa 8,144 — 8,144 Other 9,128 876 10,004 Total Net Operating Income $ 126,966 $ 816 $ 127,782 Three Months Ended March 31, 2019 Office Mixed-Use Total Net Operating Income: Atlanta $ 37,399 $ — $ 37,399 Austin 15,948 — 15,948 Charlotte 15,808 — 15,808 Phoenix 9,491 — 9,491 Tampa 7,988 — 7,988 Other 230 867 1,097 Total Net Operating Income $ 86,864 $ 867 $ 87,731 The following reconciles Net Operating Income to Net Income for each of the periods presented (in thousands): Three Months Ended March 31, 2020 2019 Net Operating Income $ 127,782 $ 87,731 Net operating income from unconsolidated joint ventures (6,035 ) (7,873 ) Fee income 4,732 8,728 Termination fee income 2,844 520 Other income 37 140 Reimbursed expenses (521 ) (932 ) General and administrative expenses (5,652 ) (11,460 ) Interest expense (15,904 ) (10,820 ) Depreciation and amortization (71,614 ) (45,861 ) Transaction costs (365 ) (3 ) Other expenses (566 ) (180 ) Income from unconsolidated joint ventures 3,425 2,904 Gain on sales of investments in unconsolidated joint ventures 46,230 — Gain on investment property transactions 90,916 13,111 Net Income $ 175,309 $ 36,005 Revenues by reportable segment, including a reconciliation to total rental property revenues on the condensed consolidated statements of operations, for three months ended March 31, 2020 and 2019 are as follows (in thousands): Three Months Ended March 31, 2020 Office Mixed-Use Total Revenues: Atlanta $ 65,877 $ 35 $ 65,912 Austin 48,747 — 48,747 Charlotte 34,537 — 34,537 Dallas 4,471 — 4,471 Phoenix 13,159 — 13,159 Tampa 14,112 — 14,112 Other 16,494 1,262 17,756 Total segment revenues 197,397 1,297 198,694 Less Company's share of rental property revenues from unconsolidated joint ventures (8,268 ) (1,297 ) (9,565 ) Total rental property revenues $ 189,129 $ — $ 189,129 Three Months Ended March 31, 2019 Office Mixed-Use Total Revenues: Atlanta $ 57,468 $ — $ 57,468 Austin 28,092 — 28,092 Charlotte 23,386 — 23,386 Tampa 12,971 — 12,971 Phoenix 13,003 — 13,003 Other 546 1,181 1,727 Total segment revenues 135,466 1,181 136,647 Less Company's share of rental property revenues from unconsolidated joint ventures (11,601 ) (1,181 ) (12,782 ) Total rental property revenues $ 123,865 $ — $ 123,865

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation :

Merger With Tier REIT, Inc. (Ta

Merger With Tier REIT, Inc. (Tables)	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Schedule of purchase price allocation	The purchase price was allocated as follows (in thousands): Real estate assets $ 2,202,712 Real estate assets held for sale 21,395 Cash and cash equivalents 84,042 Restricted cash 1,947 Notes and other receivables 6,524 Investment in unconsolidated joint ventures 331 Intangible assets 141,184 Other assets 9,954 2,468,089 Notes payable 747,549 Accounts payable and accrued expenses 53,054 Deferred income 8,131 Intangible liabilities 47,988 Other liabilities 7,676 Nonredeemable noncontrolling interests 5,329 869,727 Total purchase price $ 1,598,362
Supplemental pro forma information	The following unaudited supplemental pro forma information is based upon the Company's historical condensed consolidated statements of operations, adjusted as if the Merger had occurred on January 1, 2018. The supplemental pro forma information is not necessarily indicative of future results, or of actual results, that would have been achieved had the Merger been consummated on January 1, 2018. Three Months Ended March 31, 2019 Revenues $ 185,765 Net income 26,165 Net income available to common stockholders 25,870

Investment in Unconsolidated _2

Investment in Unconsolidated Joint Ventures (Tables)	3 Months Ended
	Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Summary of financial data and principal activities of unconsolidated joint ventures	The following information summarizes financial data and principal activities of the Company's unconsolidated joint ventures. The information included in the following table entitled summary of financial position is as of March 31, 2020 and December 31, 2019 (in thousands). The information included in the summary of operations table is for the three months ended March 31, 2020 and 2019 (in thousands): Total Assets Total Debt Total Equity Company’s Investment SUMMARY OF FINANCIAL POSITION: 2020 2019 2020 2019 2020 2019 2020 2019 DC Charlotte Plaza LLLP $ 179,082 $ 179,694 $ — $ — $ 92,162 $ 90,373 $ 48,807 $ 48,058 Austin 300 Colorado Project, LP 140,520 112,630 42,226 21,430 68,145 68,101 37,239 36,846 AMCO 120 WT Holdings, LLC 79,703 77,377 — — 74,908 70,696 14,146 13,362 Carolina Square Holdings LP 102,523 114,483 76,074 75,662 24,735 25,184 13,816 14,414 HICO Victory Center LP 15,543 16,045 — — 15,479 15,353 10,460 10,373 Charlotte Gateway Village, LLC — 109,675 — — — 106,651 — 6,718 Wildwood Associates — 11,061 — — — 10,978 — (521 ) (1) Crawford Long - CPI, LLC 30,069 28,459 67,543 67,947 (39,215 ) (40,250 ) (18,708 ) (1) (19,205 ) (1) Other 8,899 8,879 — — 7,353 7,318 4,448 4,113 $ 556,339 $ 658,303 $ 185,843 $ 165,039 $ 243,567 $ 354,404 $ 110,208 $ 114,158 Total Revenues Net Income (Loss) Company's Share of Income (Loss) SUMMARY OF OPERATIONS: 2020 2019 2020 2019 2020 2019 Charlotte Gateway Village, LLC $ 6,572 $ 6,743 $ 3,296 $ 2,524 $ 1,647 $ 1,262 DC Charlotte Plaza LLLP 5,276 410 1,789 410 750 205 Crawford Long - CPI, LLC 3,343 3,129 1,035 889 497 424 Carolina Square Holdings LP 3,706 3,294 530 170 254 58 HICO Victory Center LP 126 130 126 130 63 62 Austin 300 Colorado Project, LP 98 126 44 72 22 36 Terminus Office Holdings LLC — 11,797 — 1,831 — 880 AMCO 120 WT Holdings, LLC 138 — (509 ) (10 ) (141 ) — Other 196 32 61 (39 ) 333 (23 ) $ 19,455 $ 25,661 $ 6,372 $ 5,977 $ 3,425 $ 2,904 (1) Negative bases are included in deferred income on the condensed consolidated balance sheets.

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Intangible assets on the balance sheets as of March 31, 2020 and December 31, 2019 included the following (in thousands): 2020 2019 In-place leases, net of accumulated amortization of $178,757 and $163,867 in 2020 and 2019, respectively $ 187,870 $ 202,760 Above-market tenant leases, net of accumulated amortization of $28,892 and $26,487 in 2020 and 2019, respectively 33,295 35,699 Below-market ground lease, net of accumulated amortization of $966 and $897 in 2020 and 2019, respectively 17,447 17,516 Goodwill 1,674 1,674 $ 240,286 $ 257,649

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of other assets	Other assets on the condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019 included the following (in thousands): 2020 2019 Predevelopment costs and earnest money $ 19,491 $ 25,586 Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $30,039 and $29,131 in 2020 and 2019, respectively 17,890 17,791 Prepaid expenses and other assets 15,036 5,924 Lease inducements, net of accumulated amortization of $2,563 and $2,333 in 2020 and 2019, respectively 5,500 5,632 Line of credit deferred financing costs, net of accumulated amortization of $3,328 and $2,952 in 2020 and 2019, respectively 4,140 4,516 $ 62,057 $ 59,449

Notes Payable (Tables)

Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Summary of terms of notes payable	The following table summarizes the terms of notes payable outstanding at March 31, 2020 and December 31, 2019 ($ in thousands): Description Interest Rate Maturity (1) 2020 2019 Unsecured Notes: Credit Facility, Unsecured 2.04% 2023 $ — $ 251,500 Term Loan, Unsecured 2.19% 2021 250,000 250,000 2019 Senior Notes, Unsecured 3.95% 2029 275,000 275,000 2017 Senior Notes, Unsecured 3.91% 2025 250,000 250,000 2019 Senior Notes, Unsecured 3.86% 2028 250,000 250,000 2019 Senior Notes, Unsecured 3.78% 2027 125,000 125,000 2017 Senior Notes, Unsecured 4.09% 2027 100,000 100,000 1,250,000 1,501,500 Secured Mortgage Notes: Fifth Third Center 3.37% 2026 139,522 140,332 Terminus 100 5.25% 2023 117,375 118,146 Colorado Tower 3.45% 2026 116,486 117,085 Promenade 4.27% 2022 95,152 95,986 816 Congress 3.75% 2024 79,554 79,987 Terminus 200 3.79% 2023 75,654 76,079 Legacy Union One 4.24% 2023 66,000 66,000 Meridian Mark Plaza 6.00% 2020 — 22,978 689,743 716,593 $ 1,939,743 $ 2,218,093 Unamortized premium 10,323 11,239 Unamortized loan costs (6,032 ) (6,357 ) Total Notes Payable $ 1,944,034 $ 2,222,975 (1) Weighted average maturity of notes payable outstanding at March 31, 2020 was 5.7 years .
Summary of interest recorded	For the three months ended March 31, 2020 and 2019 , interest expense was recorded as follows (in thousands): 2020 2019 Total interest incurred $ 21,213 $ 11,835 Interest capitalized (5,309 ) (1,015 ) Total interest expense $ 15,904 $ 10,820

Other Liabilities (Tables)

Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2020
Other Liabilities Disclosure [Abstract]
Summary of other liabilities	Other liabilities on the condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019 included the following (in thousands): 2020 2019 Ground lease liability $ 59,277 $ 59,379 Prepaid rent 30,841 33,428 Security deposits 12,900 13,545 Restricted stock unit liability 6,169 16,592 Other liabilities 11,622 11,184 $ 120,809 $ 134,128

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense, net of forfeitures	For the three months ended March 31, 2020 and 2019 , stock-based compensation expense, net of forfeitures, was recorded as follows (in thousands): 2020 2019 Equity-classified awards $ 1,284 $ 607 Liability-classified awards (1,020 ) 4,921 Total stock-based compensation expense, net of forfeitures $ 264 $ 5,528

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
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 months ended March 31, 2020 and 2019 (in thousands): Three Months Ended March 31, 2020 2019 Earnings per Common Share - basic: Numerator: Net income $ 175,309 $ 36,005 Net income attributable to noncontrolling interests in CPLP from continuing operations (302 ) (588 ) Net income attributable to other noncontrolling interests (64 ) (76 ) Net income available to common stockholders $ 174,943 $ 35,341 Denominator: Weighted average common shares - basic 147,424 105,127 Net income per common share - basic $ 1.19 $ 0.34 Earnings per common share - diluted: Numerator: Net income $ 175,309 $ 36,005 Net income attributable to other noncontrolling interests (64 ) (76 ) Net income available for common stockholders before allocation of net income attributable to noncontrolling interests in CPLP $ 175,245 $ 35,929 Denominator: Weighted average common shares - basic 147,424 105,127 Add: Potential dilutive common shares - stock options 15 30 Potential dilutive common shares - restricted stock units, less shares assumed purchased at market price 2 — Weighted average units of CPLP convertible into common shares 1,120 1,744 Weighted average common shares - diluted 148,561 106,901 Net income per common share - diluted $ 1.18 $ 0.34 Antidilutive restricted stock units, less share assumed purchased at market price 3 —

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - Supplemental Information (Tables)	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental information related to cash flows	Supplemental information related to the cash flows, including significant non-cash activity affecting the condensed consolidated statement of cash flows, for the three months ended March 31, 2020 and 2019 is as follows (in thousands): 2020 2019 Interest paid $ 27,288 $ 31,601 Non-Cash Activity: Transfers from projects under development to operating properties 95,185 — Common stock dividends declared and accrued 44,563 30,492 Transfer from land held and other assets to projects under development 29,121 — Change in accrued property, acquisition, development, and tenant expenditures 13,845 11,085 Ground lease right-of-use assets and associated liabilities — 56,294 Non-cash consideration for property acquisition — 10,071
Reconciliation of cash, cash equivalents, and restricted cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash recorded on the condensed consolidated balance sheets to cash, cash equivalents, and restricted cash in the condensed consolidated statements of cash flows (in thousands): March 31, 2020 December 31, 2019 Cash and cash equivalents $ 124,632 $ 15,603 Restricted cash 1,947 2,005 Total cash, cash equivalents, and restricted cash $ 126,579 $ 17,608
Reconciliation of cash, cash equivalents, and restricted cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash recorded on the condensed consolidated balance sheets to cash, cash equivalents, and restricted cash in the condensed consolidated statements of cash flows (in thousands): March 31, 2020 December 31, 2019 Cash and cash equivalents $ 124,632 $ 15,603 Restricted cash 1,947 2,005 Total cash, cash equivalents, and restricted cash $ 126,579 $ 17,608

Reportable Segments (Tables)

Reportable Segments (Tables)	3 Months Ended
	Mar. 31, 2020
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 months ended March 31, 2020 and 2019 are as follows (in thousands): Three Months Ended March 31, 2020 Office Mixed-Use Total Net Operating Income: Atlanta $ 44,855 $ (60 ) $ 44,795 Austin 29,294 — 29,294 Charlotte 22,113 — 22,113 Dallas 3,639 — 3,639 Phoenix 9,793 — 9,793 Tampa 8,144 — 8,144 Other 9,128 876 10,004 Total Net Operating Income $ 126,966 $ 816 $ 127,782 Three Months Ended March 31, 2019 Office Mixed-Use Total Net Operating Income: Atlanta $ 37,399 $ — $ 37,399 Austin 15,948 — 15,948 Charlotte 15,808 — 15,808 Phoenix 9,491 — 9,491 Tampa 7,988 — 7,988 Other 230 867 1,097 Total Net Operating Income $ 86,864 $ 867 $ 87,731 The following reconciles Net Operating Income to Net Income for each of the periods presented (in thousands): Three Months Ended March 31, 2020 2019 Net Operating Income $ 127,782 $ 87,731 Net operating income from unconsolidated joint ventures (6,035 ) (7,873 ) Fee income 4,732 8,728 Termination fee income 2,844 520 Other income 37 140 Reimbursed expenses (521 ) (932 ) General and administrative expenses (5,652 ) (11,460 ) Interest expense (15,904 ) (10,820 ) Depreciation and amortization (71,614 ) (45,861 ) Transaction costs (365 ) (3 ) Other expenses (566 ) (180 ) Income from unconsolidated joint ventures 3,425 2,904 Gain on sales of investments in unconsolidated joint ventures 46,230 — Gain on investment property transactions 90,916 13,111 Net Income $ 175,309 $ 36,005
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 months ended March 31, 2020 and 2019 are as follows (in thousands): Three Months Ended March 31, 2020 Office Mixed-Use Total Revenues: Atlanta $ 65,877 $ 35 $ 65,912 Austin 48,747 — 48,747 Charlotte 34,537 — 34,537 Dallas 4,471 — 4,471 Phoenix 13,159 — 13,159 Tampa 14,112 — 14,112 Other 16,494 1,262 17,756 Total segment revenues 197,397 1,297 198,694 Less Company's share of rental property revenues from unconsolidated joint ventures (8,268 ) (1,297 ) (9,565 ) Total rental property revenues $ 189,129 $ — $ 189,129 Three Months Ended March 31, 2019 Office Mixed-Use Total Revenues: Atlanta $ 57,468 $ — $ 57,468 Austin 28,092 — 28,092 Charlotte 23,386 — 23,386 Tampa 12,971 — 12,971 Phoenix 13,003 — 13,003 Other 546 1,181 1,727 Total segment revenues 135,466 1,181 136,647 Less Company's share of rental property revenues from unconsolidated joint ventures (11,601 ) (1,181 ) (12,782 ) Total rental property revenues $ 123,865 $ — $ 123,865

Description of Business and B_3

Description of Business and Basis of Presentation (Description of Business) (Details) ft² in Thousands	3 Months Ended
	Mar. 31, 2020ft²
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distribution of taxable income to qualify as REIT, percentage	100.00%
Interests in portfolio of real estate assets	19,000
Portfolio of real estate assets (sqft)	310
CPLP
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of partnership units owned by the Company (more than)	99.00%

Description of Business and B_4

Description of Business and Basis of Presentation (Basis of Presentation) (Details)	Jun. 14, 2019shares	Mar. 31, 2020shares	Dec. 31, 2019shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reverse stock split ratio	0.25
Common stock, shares authorized	175,000,000	300,000,000	300,000,000

Merger With Tier REIT, Inc. (Ad

Merger With Tier REIT, Inc. (Additional Information) (Details) $ in Thousands, shares in Millions	Jun. 14, 2019USD ($)shares	Mar. 25, 2019	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)
Business Acquisition [Line Items]
Reverse stock split ratio	0.25
TIER
Business Acquisition [Line Items]
Stock conversion ratio		2.98
Fair value of assets acquired and liabilities assumed	$ 1,600,000
Acquisition expenses			$ 365	$ 3
TIER | Rental property revenues
Business Acquisition [Line Items]
Amount reported in consolidated revenue			$ 51,000
Former TIER Common Stockholders
Business Acquisition [Line Items]
Number of shares issued | shares	166

Merger With Tier REIT, Inc. (Pu

Merger With Tier REIT, Inc. (Purchase Price Allocation) (Details) - TIER $ in Thousands	Mar. 25, 2019USD ($)
Business Acquisition [Line Items]
Real estate assets	$ 2,202,712
Real estate assets held for sale	21,395
Cash and cash equivalents	84,042
Restricted cash	1,947
Notes and other receivables	6,524
Investment in unconsolidated joint ventures	331
Intangible assets	141,184
Other assets	9,954
Assets	2,468,089
Notes payable	747,549
Accounts payable and accrued expenses	53,054
Deferred income	8,131
Intangible liabilities	47,988
Other liabilities	7,676
Nonredeemable noncontrolling interests	5,329
Liabilities	869,727
Total purchase price	$ 1,598,362

Merger With Tier REIT, Inc. (Pr

Merger With Tier REIT, Inc. (Pro Forma Information) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Business Combinations [Abstract]
Revenues	$ 185,765
Net income	26,165
Net income available to common stockholders	$ 25,870

Transactions with Norfolk Sou_2

Transactions with Norfolk Southern Railway Company (Details) - USD ($)	Mar. 01, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of property		$ 433,875,000	$ 57,676,000
Assets		6,901,934,000		$ 7,151,447,000
Contract price that is expected to be recognized as revenue	$ 52,300,000
Deferred income		55,290,000		52,269,000
1200 Peachtree
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets	92,300,000
Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property purchased				6,500,000	$ 37,000,000
Site Preparation Work
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property purchased	4,000,000
NS
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue recognized		3,700,000	$ 6,600,000
Deferred income		$ 9,900,000		$ 11,300,000
NS | 1200 Peachtree
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase of a building	$ 82,000,000
Lease term	3 years
Discount on service contract price	$ 10,300,000
Gain or loss on derecognition of non financial asset fair value	0
Consideration for the various services component	52,300,000
NS | Fees for development services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contract fees	5,000,000
NS | Fees for consulting services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contract fees	32,000,000
NS | Development agreement | 1200 Peachtree
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration for various services contract	5,000,000
NS | Consulting agreement | 1200 Peachtree
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration for various services contract	32,000,000
NS | Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of property	52,500,000
Gain from sale of property	5,000,000
NS | Land | 1200 Peachtree
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration for various services contract	$ 5,000,000

Real Estate Transactions (Detai

Real Estate Transactions (Details) - Discontinued Operations, Disposed of by Sale ft² in Thousands, $ in Millions	1 Months Ended
	Mar. 31, 2020USD ($)ft²	Feb. 29, 2020USD ($)ft²a
Hearst Tower
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of property | ft²	966
Gross sales price of property sold	$ 455.5
Gain on sale	$ 90.9
Woodcrest
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of property | ft²		386
Gross sales price of property sold		$ 25.3
Downtown Atlanta
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of property | a		8
Gross sales price of property sold		$ 13.3
Gain on sale		$ 13.1

Investment in Unconsolidated _3

Investment in Unconsolidated Joint Ventures (Summary of Financial Position and Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Feb. 29, 2020	Dec. 31, 2019
SUMMARY OF FINANCIAL POSITION:
Total Assets	$ 556,339			$ 658,303
Total Debt	185,843			165,039
Total Equity	243,567			354,404
Company’s Investment	110,208			114,158
SUMMARY OF OPERATIONS:
Total Revenues	19,455	$ 25,661
Net Income (Loss)	6,372	5,977
Company's Share of Income (Loss)	3,425	2,904
DC Charlotte Plaza LLLP
SUMMARY OF FINANCIAL POSITION:
Total Assets	179,082			179,694
Total Debt	0			0
Total Equity	92,162			90,373
Company’s Investment	48,807			48,058
SUMMARY OF OPERATIONS:
Total Revenues	5,276	410
Net Income (Loss)	1,789	410
Company's Share of Income (Loss)	750	205
Austin 300 Colorado Project, LP
SUMMARY OF FINANCIAL POSITION:
Total Assets	140,520			112,630
Total Debt	42,226			21,430
Total Equity	68,145			68,101
Company’s Investment	37,239			36,846
SUMMARY OF OPERATIONS:
Total Revenues	98	126
Net Income (Loss)	44	72
Company's Share of Income (Loss)	22	36
AMCO 120 WT Holdings, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	79,703			77,377
Total Debt	0			0
Total Equity	74,908			70,696
Company’s Investment	14,146			13,362
SUMMARY OF OPERATIONS:
Total Revenues	138	0
Net Income (Loss)	(509)	(10)
Company's Share of Income (Loss)	(141)	0
Carolina Square Holdings LP
SUMMARY OF FINANCIAL POSITION:
Total Assets	102,523			114,483
Total Debt	76,074			75,662
Total Equity	24,735			25,184
Company’s Investment	13,816			14,414
SUMMARY OF OPERATIONS:
Total Revenues	3,706	3,294
Net Income (Loss)	530	170
Company's Share of Income (Loss)	254	58
HICO Victory Center LP
SUMMARY OF FINANCIAL POSITION:
Total Assets	15,543			16,045
Total Debt	0			0
Total Equity	15,479			15,353
Company’s Investment	10,460			10,373
SUMMARY OF OPERATIONS:
Total Revenues	126	130
Net Income (Loss)	126	130
Company's Share of Income (Loss)	63	62
Charlotte Gateway Village, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	0			109,675
Total Debt	0			0
Total Equity	0			106,651
Company’s Investment	0			6,718
SUMMARY OF OPERATIONS:
Total Revenues	6,572	6,743
Net Income (Loss)	3,296	2,524
Company's Share of Income (Loss)	1,647	1,262
Wildwood Associates
SUMMARY OF FINANCIAL POSITION:
Total Assets	0			11,061
Total Debt	0			0
Total Equity	0			10,978
Company’s Investment	0		$ (520)	(521)
Crawford Long - CPI, LLC
SUMMARY OF FINANCIAL POSITION:
Total Assets	30,069			28,459
Total Debt	67,543			67,947
Total Equity	(39,215)			(40,250)
Company’s Investment	(18,708)			(19,205)
SUMMARY OF OPERATIONS:
Total Revenues	3,343	3,129
Net Income (Loss)	1,035	889
Company's Share of Income (Loss)	497	424
Terminus Office Holdings LLC
SUMMARY OF OPERATIONS:
Total Revenues	0	11,797
Net Income (Loss)	0	1,831
Company's Share of Income (Loss)	0	880
Other
SUMMARY OF FINANCIAL POSITION:
Total Assets	8,899			8,879
Total Debt	0			0
Total Equity	7,353			7,318
Company’s Investment	4,448			$ 4,113
SUMMARY OF OPERATIONS:
Total Revenues	196	32
Net Income (Loss)	61	(39)
Company's Share of Income (Loss)	$ 333	$ (23)

Investment in Unconsolidated _4

Investment in Unconsolidated Joint Ventures (Additional Information) (Details) $ in Thousands, ft² in Millions	1 Months Ended			3 Months Ended
	Apr. 30, 2020	Mar. 31, 2020USD ($)ft²	Feb. 29, 2020USD ($)a	Mar. 31, 2020USD ($)ft²	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Schedule of Equity Method Investments [Line Items]
Gross purchase price				$ 433,875	$ 57,676
Gain on sale of interest				46,230	$ 0
Elimination of the remaining negative basis in the joint venture		$ (110,208)		$ (110,208)		$ (114,158)
Gateway
Schedule of Equity Method Investments [Line Items]
Area of property | ft²		1.1		1.1
Gross purchase price		$ 52,200
Internal rate of return		17.00%
Gain on sale of interest		$ 44,900
Elimination of the remaining negative basis in the joint venture		0		$ 0		(6,718)
Wildwood Associates
Schedule of Equity Method Investments [Line Items]
Gross purchase price			$ 900
Gain on sale of interest			$ 1,300
Area of land | a			6.3
Elimination of the remaining negative basis in the joint venture		0	$ 520	0		521
Carolina Square Holdings LP
Schedule of Equity Method Investments [Line Items]
Elimination of the remaining negative basis in the joint venture		$ (13,816)		$ (13,816)		$ (14,414)
Carolina Square Holdings LP | LIBOR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate (percent)				1.90%
Carolina Square Holdings LP | LIBOR | Subsequent Event
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate (percent)	1.25%

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 1,674	$ 1,674
Total intangible assets	240,286	257,649
In-place Leases
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	187,870	202,760
Accumulated amortization	178,757	163,867
Above-market Tenant Leases
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	33,295	35,699
Accumulated amortization	28,892	26,487
Below-market Ground Lease
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	17,447	17,516
Accumulated amortization	$ 966	$ 897

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Predevelopment costs and earnest money	$ 19,491	$ 25,586
Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $30,039 and $29,131 in 2020 and 2019, respectively	17,890	17,791
Prepaid expenses and other assets	15,036	5,924
Lease inducements, net of accumulated amortization of $2,563 and $2,333 in 2020 and 2019, respectively	5,500	5,632
Line of credit deferred financing costs, net of accumulated amortization of $3,328 and $2,952 in 2020 and 2019, respectively	4,140	4,516
Total other assets	62,057	59,449
Accumulated depreciation of furniture, fixtures and equipment, leasehold improvements, and other deferred costs	30,039	29,131
Accumulated amortization of lease inducements	2,563	2,333
Accumulated amortization of line of credit deferred financing costs	$ 3,328	$ 2,952

Notes Payable (Terms of Notes P

Notes Payable (Terms of Notes Payable) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Notes Payable, Gross	$ 1,939,743	$ 2,218,093
Unamortized premium	10,323	11,239
Unamortized loan costs	(6,032)	(6,357)
Total Notes Payable	$ 1,944,034	2,222,975
Weighted average maturity of notes payable	5 years 8 months 12 days
Unsecured Notes
Debt Instrument [Line Items]
Notes Payable, Gross	$ 1,250,000	$ 1,501,500
Credit Facility, Unsecured
Debt Instrument [Line Items]
Interest Rate		2.04%
Notes Payable, Gross	$ 0	$ 251,500
Term Loan, Unsecured
Debt Instrument [Line Items]
Interest Rate	2.19%
Notes Payable, Gross	$ 250,000	250,000
Senior Notes, Unsecured | 3.95% Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	3.95%
Notes Payable, Gross	$ 275,000	275,000
Senior Notes, Unsecured | 3.91% Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	3.91%
Notes Payable, Gross	$ 250,000	250,000
Senior Notes, Unsecured | 3.86% Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	3.86%
Notes Payable, Gross	$ 250,000	250,000
Senior Notes, Unsecured | 3.78% Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	3.78%
Notes Payable, Gross	$ 125,000	125,000
Senior Notes, Unsecured | 4.09% Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	4.09%
Notes Payable, Gross	$ 100,000	100,000
Secured Mortgage Notes
Debt Instrument [Line Items]
Notes Payable, Gross	$ 689,743	716,593
Secured Mortgage Notes | Fifth Third Center
Debt Instrument [Line Items]
Interest Rate	3.37%
Notes Payable, Gross	$ 139,522	140,332
Secured Mortgage Notes | Terminus 100
Debt Instrument [Line Items]
Interest Rate	5.25%
Notes Payable, Gross	$ 117,375	118,146
Secured Mortgage Notes | Colorado Tower
Debt Instrument [Line Items]
Interest Rate	3.45%
Notes Payable, Gross	$ 116,486	117,085
Secured Mortgage Notes | Promenade
Debt Instrument [Line Items]
Interest Rate	4.27%
Notes Payable, Gross	$ 95,152	95,986
Secured Mortgage Notes | 816 Congress
Debt Instrument [Line Items]
Interest Rate	3.75%
Notes Payable, Gross	$ 79,554	79,987
Secured Mortgage Notes | Terminus 200
Debt Instrument [Line Items]
Interest Rate	3.79%
Notes Payable, Gross	$ 75,654	76,079
Secured Mortgage Notes | Legacy Union One
Debt Instrument [Line Items]
Interest Rate	4.24%
Notes Payable, Gross	$ 66,000	$ 66,000
Secured Mortgage Notes | Meridian Mark Plaza
Debt Instrument [Line Items]
Interest Rate		6.00%
Notes Payable, Gross	$ 0	$ 22,978

Notes Payable (Credit Facility)

Notes Payable (Credit Facility) (Details) - Credit Facility	3 Months Ended
	Mar. 31, 2020USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 1,000,000,000
Minimum fixed charge coverage ratio	1.50
Available borrowing capacity	$ 1,000,000,000
LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	1.05%
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]
Minimum unencumbered interest coverage ratio	1.75
Minimum | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	1.05%
Minimum | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	0.10%
Maximum
Line of Credit Facility [Line Items]
Secured leverage ratio (percent)	40.00%
Leverage ratio (percent)	60.00%
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	3 Months Ended
	Mar. 31, 2020USD ($)
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)	3 Months Ended
	Mar. 31, 2020USD ($)tranche	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Long-term debt	$ 1,939,743,000	$ 2,218,093,000
Unsecured Senior Notes
Debt Instrument [Line Items]
Debt amount	$ 1,000,000,000
Number of tranches | tranche	5
Minimum fixed charge coverage ratio	1.50
Unsecured Senior Notes | Minimum
Debt Instrument [Line Items]
Minimum unencumbered interest coverage ratio	1.75
Unsecured Senior Notes | Maximum
Debt Instrument [Line Items]
Leverage ratio (percent)	60.00%
Secured leverage ratio (percent)	40.00%
Unsecured Senior Notes | 4.09% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 100,000,000
Long-term debt	$ 100,000,000	100,000,000
Interest rate	4.09%
Unsecured Senior Notes | 3.91% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 250,000,000
Long-term debt	$ 250,000,000	250,000,000
Interest rate	3.91%
Unsecured Senior Notes | 3.78% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 125,000,000
Long-term debt	$ 125,000,000	125,000,000
Interest rate	3.78%
Unsecured Senior Notes | 3.86% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 250,000,000
Long-term debt	$ 250,000,000	250,000,000
Interest rate	3.86%
Unsecured Senior Notes | 3.95% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 275,000,000
Long-term debt	$ 275,000,000	$ 275,000,000
Interest rate	3.95%

Notes Payable (Mortgage Notes)

Notes Payable (Mortgage Notes) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt	$ 1,939,743	$ 2,218,093
Secured Mortgage Notes
Debt Instrument [Line Items]
Long-term debt	689,743	716,593
Meridian Mark Plaza | Secured Mortgage Notes
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 22,978

Notes Payable (Other Debt Infor

Notes Payable (Other Debt Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Debt Disclosure [Abstract]
Notes payable, fair value	$ 2,000,000		$ 2,300,000
Total interest incurred	21,213	$ 11,835
Interest capitalized	(5,309)	(1,015)
Total interest expense	$ 15,904	$ 10,820

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Ground lease liability	$ 59,277	$ 59,379
Prepaid rent	30,841	33,428
Security deposits	12,900	13,545
Restricted stock unit liability	6,169	16,592
Other liabilities	11,622	11,184
Total other liabilities	$ 120,809	$ 134,128

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Mar. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit and performance bonds	$ 1.1
Future obligations under leases to fund tenant improvements and other future construction obligations	$ 237.1

Stockholders' Equity (Details)

Stockholders' Equity (Details) - $ / shares	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Stock issued during period (in shares)	1,700,000
Stock redeemed during period (in shares)	1,700,000
Preferred stock, par value (in usd per share)	$ 1	$ 1
Preferred stock, shares outstanding	0	1,716,837

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense, Net of Forfeitures (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense, net of forfeitures	$ 264	$ 5,528
Equity-classified awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense, net of forfeitures	1,284	607
Liability-classified awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense, net of forfeitures	$ (1,020)	$ 4,921

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details)	3 Months Ended
	Mar. 31, 2020awardshares
RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	71,421
Vesting period	3 years
Market-based RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	71,038
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	30,447
Types of performance-based RSUs | award	2
Ultimate payout, minimum (as a percent)	0.00%
Ultimate payout, maximum (as a percent)	200.00%

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 193,898	$ 132,733
Rental property revenues
Disaggregation of Revenue [Line Items]
Revenues	189,129	123,865
Variable rental revenue	54,100	32,600
Fees and other
Disaggregation of Revenue [Line Items]
Revenues	$ 4,800	$ 8,900

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Numerator:
Net income	$ 175,309	$ 36,005
Net income available to common stockholders	$ 174,943	$ 35,341
Denominator:
Weighted average common shares - basic (in shares)	147,424	105,127
Net income per common share - basic (in usd per share)	$ 1.19	$ 0.34
Numerator:
Net income	$ 175,309	$ 36,005
Net income available for common stockholders before allocation of net income attributable to noncontrolling interests in CPLP	$ 175,245	$ 35,929
Denominator:
Weighted average shares — basic (in shares)	147,424	105,127
Add:
Weighted average units of CPLP convertible into common shares (in shares)	1,120	1,744
Weighted average common shares - diluted (in shares)	148,561	106,901
Net income per common share - diluted (in usd per share)	$ 1.18	$ 0.34
Stock Options
Add:
Antidilutive restricted stock units, less share assumed purchased at market price (in shares)	3	0
Stock Options
Add:
Potential dilutive common shares - stock options (in shares)	15	30
RSU
Add:
Potential dilutive common shares - stock options (in shares)	2	0
CPLP
Numerator:
Net income attributable to other noncontrolling interests	$ (302)	$ (588)
Numerator:
Net income attributable to other noncontrolling interests	(302)	(588)
Other Noncontrolling Interests
Numerator:
Net income attributable to other noncontrolling interests	(64)	(76)
Numerator:
Net income attributable to other noncontrolling interests	$ (64)	$ (76)

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows - Supplemental Information (Supplemental Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 27,288	$ 31,601
Non-Cash Activity:
Transfers from projects under development to operating properties	95,185	0
Common stock dividends declared and accrued	44,563	30,492
Transfer from land held and other assets to projects under development	29,121	0
Change in accrued property, acquisition, development, and tenant expenditures	13,845	11,085
Ground lease right-of-use assets and associated liabilities	0	56,294
Non-cash consideration for property acquisition	$ 0	$ 10,071

Condensed Consolidated Statem_8

Condensed Consolidated Statements of Cash Flows - Supplemental Information (Reconciliation of Cash) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 124,632	$ 15,603
Restricted cash	1,947	2,005
Total cash, cash equivalents, and restricted cash	$ 126,579	$ 17,608	$ 3,626	$ 2,695

Reportable Segments (Net Operat

Reportable Segments (Net Operating Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Net Operating Income	$ 127,782	$ 87,731
Atlanta
Segment Reporting Information [Line Items]
Net Operating Income	44,795	37,399
Austin
Segment Reporting Information [Line Items]
Net Operating Income	29,294	15,948
Charlotte
Segment Reporting Information [Line Items]
Net Operating Income	22,113	15,808
Dallas
Segment Reporting Information [Line Items]
Net Operating Income	3,639
Phoenix
Segment Reporting Information [Line Items]
Net Operating Income	9,793	9,491
Tampa
Segment Reporting Information [Line Items]
Net Operating Income	8,144	7,988
Other
Segment Reporting Information [Line Items]
Net Operating Income	10,004	1,097
Office
Segment Reporting Information [Line Items]
Net Operating Income	126,966	86,864
Office | Atlanta
Segment Reporting Information [Line Items]
Net Operating Income	44,855	37,399
Office | Austin
Segment Reporting Information [Line Items]
Net Operating Income	29,294	15,948
Office | Charlotte
Segment Reporting Information [Line Items]
Net Operating Income	22,113	15,808
Office | Dallas
Segment Reporting Information [Line Items]
Net Operating Income	3,639
Office | Phoenix
Segment Reporting Information [Line Items]
Net Operating Income	9,793	9,491
Office | Tampa
Segment Reporting Information [Line Items]
Net Operating Income	8,144	7,988
Office | Other
Segment Reporting Information [Line Items]
Net Operating Income	9,128	230
Mixed-Use
Segment Reporting Information [Line Items]
Net Operating Income	816	867
Mixed-Use | Atlanta
Segment Reporting Information [Line Items]
Net Operating Income	(60)	0
Mixed-Use | Austin
Segment Reporting Information [Line Items]
Net Operating Income	0	0
Mixed-Use | Charlotte
Segment Reporting Information [Line Items]
Net Operating Income	0	0
Mixed-Use | Dallas
Segment Reporting Information [Line Items]
Net Operating Income	0
Mixed-Use | Phoenix
Segment Reporting Information [Line Items]
Net Operating Income	0	0
Mixed-Use | Tampa
Segment Reporting Information [Line Items]
Net Operating Income	0	0
Mixed-Use | Other
Segment Reporting Information [Line Items]
Net Operating Income	$ 876	$ 867

Reportable Segments (Reconcilia

Reportable Segments (Reconciliation of Net Income to Net Operating Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Net Operating Income	$ 127,782	$ 87,731
Net operating income from unconsolidated joint ventures	(6,035)	(7,873)
Revenues	193,898	132,733
Reimbursed expenses	(521)	(932)
General and administrative expenses	(5,652)	(11,460)
Interest expense	(15,904)	(10,820)
Depreciation and amortization	(71,614)	(45,861)
Transaction costs	(365)	(3)
Other expenses	(566)	(180)
Income from unconsolidated joint ventures	3,425	2,904
Gain on sales of investments in unconsolidated joint ventures	46,230	0
Gain on investment property transactions	90,916	13,111
Net income	175,309	36,005
Fee income
Segment Reporting Information [Line Items]
Revenues	4,732	8,728
Termination fee income
Segment Reporting Information [Line Items]
Revenues	2,844	520
Other
Segment Reporting Information [Line Items]
Revenues	$ 37	$ 140

Reportable Segments (Segment Re

Reportable Segments (Segment Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Revenues	$ 193,898	$ 132,733
Rental property revenues
Segment Reporting Information [Line Items]
Revenues	189,129	123,865
Rental property revenues | Office
Segment Reporting Information [Line Items]
Revenues	189,129	123,865
Rental property revenues | Mixed-Use
Segment Reporting Information [Line Items]
Revenues	0	0
Rental property revenues | Operating segments
Segment Reporting Information [Line Items]
Revenues	198,694	136,647
Rental property revenues | Operating segments | Atlanta
Segment Reporting Information [Line Items]
Revenues	65,912	57,468
Rental property revenues | Operating segments | Austin
Segment Reporting Information [Line Items]
Revenues	48,747	28,092
Rental property revenues | Operating segments | Charlotte
Segment Reporting Information [Line Items]
Revenues	34,537	23,386
Rental property revenues | Operating segments | Dallas
Segment Reporting Information [Line Items]
Revenues	4,471
Rental property revenues | Operating segments | Phoenix
Segment Reporting Information [Line Items]
Revenues	13,159	13,003
Rental property revenues | Operating segments | Tampa
Segment Reporting Information [Line Items]
Revenues	14,112	12,971
Rental property revenues | Operating segments | Other
Segment Reporting Information [Line Items]
Revenues	17,756	1,727
Rental property revenues | Operating segments | Office
Segment Reporting Information [Line Items]
Revenues	197,397	135,466
Rental property revenues | Operating segments | Office | Atlanta
Segment Reporting Information [Line Items]
Revenues	65,877	57,468
Rental property revenues | Operating segments | Office | Austin
Segment Reporting Information [Line Items]
Revenues	48,747	28,092
Rental property revenues | Operating segments | Office | Charlotte
Segment Reporting Information [Line Items]
Revenues	34,537	23,386
Rental property revenues | Operating segments | Office | Dallas
Segment Reporting Information [Line Items]
Revenues	4,471
Rental property revenues | Operating segments | Office | Phoenix
Segment Reporting Information [Line Items]
Revenues	13,159	13,003
Rental property revenues | Operating segments | Office | Tampa
Segment Reporting Information [Line Items]
Revenues	14,112	12,971
Rental property revenues | Operating segments | Office | Other
Segment Reporting Information [Line Items]
Revenues	16,494	546
Rental property revenues | Operating segments | Mixed-Use
Segment Reporting Information [Line Items]
Revenues	1,297	1,181
Rental property revenues | Operating segments | Mixed-Use | Atlanta
Segment Reporting Information [Line Items]
Revenues	35	0
Rental property revenues | Operating segments | Mixed-Use | Austin
Segment Reporting Information [Line Items]
Revenues	0	0
Rental property revenues | Operating segments | Mixed-Use | Charlotte
Segment Reporting Information [Line Items]
Revenues	0	0
Rental property revenues | Operating segments | Mixed-Use | Dallas
Segment Reporting Information [Line Items]
Revenues	0
Rental property revenues | Operating segments | Mixed-Use | Phoenix
Segment Reporting Information [Line Items]
Revenues	0	0
Rental property revenues | Operating segments | Mixed-Use | Tampa
Segment Reporting Information [Line Items]
Revenues	0	0
Rental property revenues | Operating segments | Mixed-Use | Other
Segment Reporting Information [Line Items]
Revenues	1,262	1,181
Rental property revenues | Segment reconciling items
Segment Reporting Information [Line Items]
Revenues	(9,565)	(12,782)
Rental property revenues | Segment reconciling items | Office
Segment Reporting Information [Line Items]
Revenues	(8,268)	(11,601)
Rental property revenues | Segment reconciling items | Mixed-Use
Segment Reporting Information [Line Items]
Revenues	$ (1,297)	$ (1,181)