Cousins Properties (CUZ) 10-K 11 Feb 21 2020 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2020	Jan. 31, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
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)
Trading Symbol	CUZ
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 4,460,913,956
Entity Common Stock, Shares Outstanding		148,566,470
Documents Incorporated by Reference	Portions of the Registrant’s proxy statement for the annual stockholders meeting to be held on April 27, 2021 are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0000025232
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Real estate assets:
Operating properties, net of accumulated depreciation of $803,073 and $577,139 in 2020 and 2019, respectively	$ 6,232,546	$ 5,669,324
Projects under development	57,389	410,097
Land	162,406	116,860
Total properties	6,452,341	6,196,281
Real estate assets and other assets held for sale, net of accumulated depreciation and amortization of $14,188 and $61,093 in 2020 and 2019, respectively	125,746	360,582
Cash and cash equivalents	4,290	15,603
Restricted cash	1,848	2,005
Notes and accounts receivable	20,248	23,680
Deferred rents receivable	138,341	102,314
Investment in unconsolidated joint ventures	125,481	133,884
Intangible assets, net	189,164	257,649
Other assets	49,939	59,449
Total assets	7,107,398	7,151,447
Liabilities:
Notes payable	2,162,719	2,222,975
Accounts payable and accrued expenses	186,267	209,904
Deferred income	62,319	52,269
Intangible liabilities, net of accumulated amortization of $73,967 and $55,798 in 2020 and 2019, respectively	69,846	83,105
Other liabilities	118,103	134,128
Liabilities of real estate assets held for sale, net of accumulated amortization of $1,205 and $7,771 in 2020 and 2019, respectively	12,606	21,231
Total liabilities	2,611,860	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; no shares were issued or outstanding in 2020	0	1,717
Common stock, $1 par value, 300,000,000 shares authorized, and 151,149,289 and 149,347,382 shares issued and outstanding in 2020 and 2019, respectively	151,149	149,347
Additional paid-in capital	5,542,762	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	(1,078,304)	(1,137,200)
Total stockholders' investment	4,467,134	4,359,274
Nonredeemable noncontrolling interests	28,404	68,561
Total equity	4,495,538	4,427,835
Total liabilities and equity	$ 7,107,398	$ 7,151,447

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Real estate assets, accumulated depreciation	$ 803,073	$ 577,139
Real estate assets held for sale, accumulated depreciation	14,188	61,093
Intangible liabilities, accumulated amortization	73,967	55,798
Liabilities of real estate assets held for sale, accumulated amortization	$ 1,205	$ 7,771
Preferred stock, par value (in usd per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	1,716,837
Preferred stock, shares outstanding (in shares)	0	1,716,837
Common stock, par value (in usd per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	151,149,289	149,347,382
Common stock, shares outstanding (in shares)	151,149,289	149,347,382
Treasury stock, shares (in shares)	2,584,933	2,584,933

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Total rental property revenues	$ 740,340	$ 657,515	$ 475,212
Expenses:
Rental property operating expenses	250,850	222,146	164,678
Reimbursed expenses	1,580	4,004	3,782
General and administrative expenses	27,034	37,007	22,040
Interest expense	60,605	53,963	39,430
Impairment	14,829	0	0
Depreciation and amortization	288,648	257,149	181,382
Transaction costs	428	52,881	248
Other	2,091	1,109	556
Total costs and expenses	646,065	628,259	412,116
Income from unconsolidated joint ventures	7,947	12,666	12,224
Gain on sales of investments in unconsolidated joint ventures	45,767	0	0
Gain on investment property transactions	90,125	110,761	5,437
Gain on extinguishment of debt	0	0	8
Net income	238,114	152,683	80,765
Net income attributable to noncontrolling interests	(836)	(2,265)	(1,601)
Net income available to common stockholders	$ 237,278	$ 150,418	$ 79,164
Net income per common share — basic and diluted (in usd per share)	$ 1.60	$ 1.17	$ 0.75
Weighted average shares — basic (in shares)	148,277	128,060	105,076
Weighted average shares — diluted (in shares)	148,636	129,831	106,868
Dividends declared per common share (in usd per share)	$ 1.20	$ 1.16	$ 1.04
Rental property revenues
Revenues:
Total rental property revenues	$ 721,883	$ 628,751	$ 463,401
Fee income
Revenues:
Total rental property revenues	18,226	28,518	10,089
Other
Revenues:
Total rental property revenues	$ 231	$ 246	$ 1,722

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Preferred Stock	Common Stock	Additional Paid-In Capital	Treasury Stock	Distributions in Excess of Cumulative Net Income	Distributions in Excess of Cumulative Net IncomeCumulative Effect, Period of Adoption, Adjustment	Stockholders’ Investment	Stockholders’ InvestmentCumulative Effect, Period of Adoption, Adjustment	Nonredeemable Noncontrolling Interests
Beginning balance at Dec. 31, 2017	$ 2,825,111	$ 22,329	$ 1,717	$ 107,587	$ 3,932,689	$ (148,373)	$ (1,121,647)	$ 22,329	$ 2,771,973	$ 22,329	$ 53,138
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	80,765						79,164		79,164		1,601
Common stock issuance pursuant to stock based compensation	(567)			99	(566)	(100)			(567)
Amortization of stock options, restricted stock, and equity-classified restricted stock units, net of forfeitures	2,257			(5)	2,262				2,257
Contributions from nonredeemable noncontrolling interests	3,205										3,205
Distributions to nonredeemable noncontrolling interests	(2,653)										(2,653)
Common dividends	(109,291)						(109,291)		(109,291)
Ending 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]
Common dividends per share (in usd per share)	$ 1.04
Net income	$ 152,683						150,418		150,418		2,265
Common stock issued in merger	1,598,189			41,576	1,556,613				1,598,189
Common stock issuance pursuant to stock based compensation	507			91	416				507
Amortization of stock options, restricted stock, and equity-classified restricted stock units, net of forfeitures	2,468			(1)	2,469				2,468
Nonredeemable noncontrolling interests acquired in merger	5,329										5,329
Contributions from nonredeemable noncontrolling interests	8,087										8,087
Distributions to nonredeemable noncontrolling interests	(2,411)										(2,411)
Common dividends	(158,173)						(158,173)		(158,173)
Ending 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]
Common dividends per share (in usd per share)	$ 1.16
Net income	$ 238,114						237,278		237,278		836
Common stock issuance pursuant to stock based compensation	(307)			90	(397)				(307)
Common stock issued pursuant to unitholder redemption	0		(1,717)	1,719	45,032				45,034		(45,034)
Amortization of stock options, restricted stock, and equity-classified restricted stock units, net of forfeitures	4,237			(7)	4,244				4,237
Contributions from nonredeemable noncontrolling interests	5,197										5,197
Distributions to nonredeemable noncontrolling interests	(1,156)										(1,156)
Common dividends	(178,382)						(178,382)		(178,382)
Ending balance at Dec. 31, 2020	$ 4,495,538		$ 0	$ 151,149	$ 5,542,762	$ (148,473)	$ (1,078,304)		$ 4,467,134		$ 28,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common dividends per share (in usd per share)	$ 1.20

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Common dividends per share (in usd per share)	$ 1.20	$ 1.16	$ 1.04

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 238,114	$ 152,683	$ 80,765
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of investments in unconsolidated joint ventures	(45,767)	0	0
Gain on investment property transactions	(90,125)	(110,761)	(5,437)
Impairment	14,829	0	0
Depreciation and amortization	288,648	257,149	181,382
Amortization of deferred financing costs and premium on notes payable	(888)	1,500	2,417
Equity-classified stock-based compensation expense, net of forfeitures	5,298	3,830	3,399
Effect of non-cash adjustments to rental revenues	(52,593)	(44,839)	(32,401)
Income from unconsolidated joint ventures	(7,947)	(12,666)	(12,224)
Operating distributions from unconsolidated joint ventures	9,303	11,792	16,756
Gain on extinguishment of debt	0	0	(8)
Changes in other operating assets and liabilities:
Change in other receivables and other assets, net	(2,439)	(10,079)	(6,049)
Change in operating liabilities, net	(5,345)	54,568	434
Net cash provided by operating activities	351,088	303,177	229,034
Proceeds from investment property sales, net
Proceeds from investment property sales, net	435,833	62,667	372
Proceeds from sale of interest in unconsolidated joint ventures, net	53,601	0	0
Property acquisition, development, and tenant asset expenditures	(619,602)	(482,633)	(223,636)
Cash and restricted cash acquired in merger	0	85,989	0
Contributions to unconsolidated joint ventures	(4,285)	(23,361)	(50,933)
Distributions from unconsolidated joint ventures	2,151	10	2,032
Change in notes receivable and other assets	(161)	(96)	(8,317)
Other	0	0	(4,002)
Net cash used in investing activities	(132,463)	(357,424)	(284,484)
Proceeds from credit facility
Proceeds from credit facility	575,500	1,212,000	8,000
Repayment of credit facility	(594,600)	(960,500)	(8,000)
Repayment of notes payable	(38,700)	(691,179)	(31,402)
Issuance of unsecured senior notes	0	650,000	0
Payment of deferred financing costs	(73)	(2,868)	(6,166)
Contributions from noncontrolling interests	5,197	8,087	1,497
Distributions to nonredeemable noncontrolling interests	(1,156)	(2,411)	(2,653)
Common dividends paid	(176,263)	(142,941)	(107,167)
Other	0	(1,028)	(1,709)
Net cash provided by (used in) financing activities	(230,095)	69,160	(147,600)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(11,470)	14,913	(203,050)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD	17,608	2,695	205,745
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD	$ 6,138	$ 17,608	$ 2,695

Description of Business and Bas

Description of Business and Basis of Presentation	12 Months Ended
	Dec. 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 business through Cousins Properties, LP ("CPLP"). Cousins owns in excess of 99% of CPLP and consolidates CPLP. CPLP wholly 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 primarily Class A office properties and opportunistic mixed-use developments in the Sun Belt markets of the United States with a focus on Atlanta, Austin, Charlotte, Phoenix, Tampa, and Dallas. Cousins has elected to be taxed as a REIT and intends to, among other things, distribute at least 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 December 31, 2020, the Company’s portfolio of real estate assets consisted of interests in 19.7 million square feet of office space and 310,000 square feet of mixed-use space. Basis of Presentation: The consolidated financial statements include the accounts of the Company and its consolidated partnerships and wholly-owned subsidiaries. Intercompany transactions and balances have been eliminated in consolidation. The Company presents its financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) as outlined in the Financial Accounting Standard Board’s Accounting Standards Codification (the “Codification” or “ASC”). The Codification is the single source of authoritative accounting principles applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP. 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 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. Preferred stock was redeemed with each four shares combined into one share; fractional shares of preferred stock 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, stock options, restricted stock units, and per share information presented in the consolidated financial statements have been adjusted to reflect the reverse stock split on a retroactive basis for all periods presented. For the three years ended December 31, 2020, there were no items of other comprehensive income. Therefore, the Company did not present comprehensive income. Additionally, certain subtotals within the consolidated statements of operations for the year ended December 31, 2018 were removed to conform to the current period presentation. On January 1, 2019, the Company began recording lease termination fees in rental property revenues on the consolidated statements of operations as a result of the adoption of Accounting Standards Update ("ASU") 2016-02, "Leases," ("ASC 842"). The prior period amounts, which were included in other revenues, were reclassified to conform to the current period presentation. 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 Codification. 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.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Real Estate Assets Cost Capitalization: Costs related to planning, developing, leasing, and constructing a property, including costs of development personnel working directly on projects under development, are capitalized. In addition, the Company capitalizes interest to qualifying assets under development based on average accumulated expenditures outstanding during the period. In capitalizing interest to qualifying assets, the Company first uses the interest incurred on specific project debt, if any, and next uses the Company’s weighted average interest rate for non-project specific debt. The Company also capitalizes interest to investments accounted for under the equity method when the investee has property under development with a carrying value in excess of the investee’s borrowings. To the extent debt exists within an unconsolidated joint venture during the construction period, the venture capitalizes interest on that venture-specific debt. The Company capitalizes interest, real estate taxes, and certain operating expenses on the unoccupied portion of recently completed development properties from the date a project is substantially complete to the earlier of (1) the date on which the project achieves 90% economic occupancy or (2) one year after it is substantially complete. Through December 31, 2018, the Company capitalized direct and indirect leasing costs related to leases that are probable of being executed. These costs included commissions paid to outside brokers, legal costs incurred to negotiate and document a lease agreement, and internal costs that are based on time spent by leasing personnel on successful leases. The Company allocated these costs to individual tenant leases and amortized them over the related lease term. Beginning January 1, 2019, in connection with the implementation of ASC 842, the Company only capitalizes direct costs of a lease, which would not have been incurred if the lease had not been obtained. These costs generally would include commissions paid to employees or third parties and any other costs incremental to executing a lease that would not have otherwise been incurred. Impairment: We review our real estate assets on a property-by-property basis for impairment. This review includes our operating properties, properties under development, and land holdings. The first step in this process is for us to determine whether an asset is considered to be held and used or held for sale, in accordance with accounting guidance. In order to be considered a real estate asset held for sale, we must, among other things, have the authority to commit to a plan to sell the asset in its current condition, have commenced the plan to sell the asset, and have determined that it is probable that the asset will sell within one year. If we determine that an asset is held for sale, we record an impairment loss if the fair value less costs to sell is less than the carrying amount. All real estate assets not meeting the held for sale criteria are considered to be held and used. In the impairment analysis for assets held and used, we must determine whether there are indicators of impairment. For operating properties, these indicators could include a decline in a property’s leasing percentage, a current period operating loss or negative cash flows combined with a history of losses at the property, a decline in lease rates for that property or others in the property’s market, a significant change in the market value of the property, or an adverse change in the financial condition of significant tenants. For land holdings, indicators could include an overall decline in the market value of land in the region, a decline in development activity for the intended use of the land, or other adverse economic and market conditions. For projects under development, indicators could include material budget overruns without a corresponding funding source, significant delays in construction, occupancy, or stabilization schedule, regulatory changes or economic trends that have a significant impact on the market, or an adverse change in the financial condition of a significant tenant. Acquisition of Real Estate Assets: The Company evaluates all real estate acquisitions to determine if the transactions qualify as an acquisition of assets or of a business. If the Company determines that substantially all of the fair value is concentrated in a single identifiable asset or group of similar assets, the Company will account for the acquisition as an acquisition of assets and not a business. If the Company determines that there is no single or group of assets that make up substantially all of the fair value of assets acquired, the Company must determine whether the acquired set of assets includes an input and substantial processes which create an output. Based on the facts of the transactions and guidance in ASC 805, if the Company determines that an input and substantial processes that create an output are present, the Company will account for the acquisition as an acquisition of a business. For acquisitions that are accounted for as an acquisition of an asset, the Company records the acquired tangible and intangible assets and assumed liabilities based on each asset and liability's relative fair value at the acquisition date to the total purchase price plus capitalized acquisition costs. For acquisitions that are accounted for as an acquisition of a business, the Company records the acquired tangible and intangible assets and assumed liabilities at fair value at the acquisition date. The acquired assets and assumed liabilities for an operating property acquisition generally include but are not limited to: land, buildings and improvements, and identified tangible and intangible assets and liabilities associated with in-place leases, including leasing costs, value of above-market and below-market tenant leases, value of above-market and below-market ground leases, acquired in-place lease values, and tenant relationships, if any. The fair value of land is derived from comparable sales of land within the same submarket and/or region. The fair value of buildings and improvements, tenant improvements, and leasing costs are based upon current market replacement costs and other relevant market rate information. The fair value of the above-market or below-market component of an acquired lease is based upon the present value (calculated using a market discount rate) of the difference between (1) the contractual rents to be paid pursuant to the lease over its remaining term and (2) management’s estimate of the rents that would be paid using fair market rental rates and rent escalations at the date of acquisition over the remaining term of the lease. The amounts recorded for above-market and below-market ground leases are included in intangible liabilities and intangible assets, respectively, and are amortized on a straight-line basis into rental property revenues over the remaining terms of the applicable leases. The fair value of acquired in-place leases is derived based on management’s assessment of lost revenue and costs incurred for the period required to lease the “assumed vacant” property to the occupancy level when purchased. The amount recorded for acquired in-place leases is included in intangible assets and amortized as an increase to depreciation and amortization expense over the remaining term of the applicable leases. Depreciation and Amortization: Real estate assets are stated at depreciated cost less impairment, if any. Buildings are depreciated over their estimated useful lives, which range generally from 30 to 42 years. The life of a particular building depends upon a number of factors including whether the building was developed or acquired and the condition of the building upon acquisition. Furniture, fixtures, and equipment are depreciated over their estimated useful lives of three Investment in Joint Ventures For joint ventures that the Company does not control, but over which it exercises significant influence, the Company uses the equity method of accounting. The Company's judgment with regard to its level of influence or control of an entity involves consideration of various factors including the form of its ownership interest; its representation in the entity's governance; its ability to participate in policy-making decisions; and the rights of other investors to participate in the decision-making process, to replace the Company as manager, and/or to liquidate the venture. These ventures are recorded at cost and adjusted for equity in earnings (losses) and cash contributions and distributions. Any difference between the carrying amount of these investments on the Company’s balance sheet and the underlying equity in net assets on the joint venture’s balance sheet is adjusted as the related underlying assets are depreciated, amortized, or sold. The Company generally allocates income and loss from an unconsolidated joint venture based on the venture's distribution priorities, which may be different from its stated ownership percentage. The Company evaluates the recoverability of its investment in unconsolidated joint ventures in accordance with accounting standards for equity investments by first reviewing each investment for any indicators of impairment. If indicators are present, the Company estimates the fair value of the investment. If the carrying value of the investment is greater than the estimated fair value, management makes an assessment of whether the impairment is “temporary” or “other-than-temporary.” In making this assessment, management considers the following: (1) the length of time and the extent to which fair value has been less than cost, (2) the financial condition and near-term prospects of the entity, and (3) the Company’s intent and ability to retain its interest long enough for a recovery in market value. If management concludes that the impairment is "other than temporary," the Company reduces the investment to its estimated fair value. Noncontrolling Interest The Company consolidates CPLP and certain joint ventures in which it owns a controlling interest. In cases where the entity’s documents do not contain a required redemption clause, the Company records the partner’s share of the entity in the equity section of the balance sheets in nonredeemable noncontrolling interests. In cases where the entity’s documents contain a provision requiring the Company to purchase the partner’s share of the venture at a certain value upon demand or at a future date, if any, the Company records the partner’s share of the entity in redeemable noncontrolling interests on the balance sheets. The outside partners' interests in CPLP are redeemable upon demand, into cash or shares of common stock of the Company at the Company's sole discretion. Therefore, noncontrolling interests associated with CPLP are considered nonredeemable noncontrolling interests. The noncontrolling partners' share of all consolidated entities' income is reflected in net income attributable to noncontrolling interest on the statements of operations. Revenue Recognition Rental Property Revenues: The Company recognizes contractual revenues from leases on a straight-line basis over the term of the respective lease. If we determine the improvements are our assets, we capitalize the cost of the improvements and recognize depreciation expense associated with such improvements over the shorter of the estimated useful life or the term of the lease. If the improvements are tenant assets, we defer the cost of improvements funded by us as a lease incentive asset and amortize it as a reduction of rental revenue over the term of the lease. Our determination of whether improvements are our assets or tenant assets also affects when we commence revenue recognition in connection with a lease. The Company records deferred revenue for the portion of company owned tenant improvements funded or reimbursed by tenants and amortizes this amount on a straight-line basis into rental income over the term of the related lease. As of December 31, 2020 and 2019, the Company had unamortized deferred income related to tenant funded tenant improvements of $31.6 million and $17.8 million, respectively, included in deferred income on the consolidated balance sheets. Certain leases also provide for percentage rents based upon the level of sales achieved by the lessee. Percentage rents are recognized once the specified sales target is achieved. In addition, leases typically provide for reimbursement of the tenants' share of real estate taxes, insurance, and other operating expenses to the Company. Operating expense reimbursements are recognized as the related expenses are incurred. During 2020, 2019, and 2018, the Company recognized $142.5 million, $122.4 million, and $79.8 million, respectively, in revenues from tenants related to operating expense reimbursements. The Company makes valuation adjustments to all tenant-related accounts receivable based upon its estimate of the likelihood of collectibility of amounts due from the tenant. The amount of any valuation adjustment is based on the tenant’s credit and business risk, history of payment, and other factors considered by management. In limited circumstances to date, we have entered into lease amendments with certain tenants, a majority of which are small retail operators who have experienced disruptions in their business as a result of the COVID-19 pandemic. Some of these agreements forgive rents and extend the lease term for the equivalent number of months at the end of the original lease and others provide for forgiveness without extension. Rent forgiveness, with or without extensions, is accounted for as lease modifications, and the Company will recognize the effects over time through straight-line rent over the lease term. Other agreements provide for payment deferrals without extensions. The Company will also account for these deferral agreements as lease modifications and has included these deferred payments in deferred rents receivable on the accompanying consolidated balance sheet. Fee Income: The Company recognizes development, management, and leasing fees as it satisfies the related performance obligations under the respective contracts. The Company recognizes development and leasing fees received from investments in unconsolidated joint ventures and related salaries and other direct costs incurred by the Company as income and expense based on the percentage of the joint venture which the Company does not own. Correspondingly, the Company adjusts its investment in unconsolidated joint ventures when fees are paid to the Company by a joint venture in which the Company has an ownership interest. Gain on Investment Property Transactions: The Company recognizes a gain on the sale of investment property at the time the buyer obtains control of the investment property. If the Company maintains any continuing involvement with the investment property, that continuing involvement is considered to be one or more additional performance obligations and additional gains or losses will be recognized as these performance obligations are satisfied. Income Taxes The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, the Company must distribute annually at least 90% of its adjusted taxable income, as defined in the Code, to its stockholders and satisfy certain other organizational and operating requirements. It is management’s current intention to adhere to these requirements and maintain the Company's REIT status. As a REIT, the Company generally will not be subject to federal income tax at the corporate level on the taxable income it distributes to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes at regular corporate rates and may not be able to qualify as a REIT for four subsequent taxable years. The Company may be subject to certain state and local taxes on its income and property, and to federal income taxes on its undistributed taxable income. CTRS is a C-Corporation for federal income tax purposes and uses the liability method for accounting for income taxes. Tax return positions are recognized in the financial statements when they are “more-likely-than-not” to be sustained upon examination by the taxing authority. Deferred income tax assets and liabilities result from temporary differences. Temporary differences are differences between the tax bases of assets and liabilities and their reported amounts in the financial statements that will result in taxable or deductible amounts in future periods. A valuation allowance may be placed on deferred income tax assets, if it is determined that it is more likely than not that a deferred tax asset may not be realized. Stock Compensation The Company accounts for stock-based employee compensation using the fair value based method of accounting. We classify share-based payment awards granted in exchange for employee services as either equity awards or liability awards. Equity classified awards are measured based on the fair value on the date of grant. Awards that are to be settled in cash are classified as liability awards. The value of all of the Company's share-based awards is recognized over the period during which an employee is required to provide services in exchange for the award - the requisite service period (usually the vesting period). No compensation costs are recognized for awards which employees do not render the requisite service period. Earnings per Share Net income per share-basic is calculated as net income available to common stockholders divided by the weighted average number of common shares outstanding during the period, including nonvested restricted stock which has nonforfeitable dividend rights. Net income per share-diluted is calculated as net income available to common stockholders plus noncontrolling interests in CPLP divided by the diluted weighted average number of common shares outstanding during the period. Diluted weighted average number of common shares uses the same weighted average share number as in the basic calculation and adds the potential dilution that would occur if the outside units in CPLP were converted into the Company's common stock, stock options (or any other contracts to issue common stock) were exercised, and equity-based restricted stock units ("RSUs") were vested and settled resulting in additional common shares outstanding, calculated using the treasury stock method. Stock options are dilutive when the average market price of the Company’s stock during the period exceeds the option exercise price. Market-based RSUs are dilutive when granted with the dilution impact calculated based on projected vesting percentages. Performance-based RSUs are dilutive once the minimum performance criteria has been met and the dilution impact is calculated based on projected vesting percentages. Cash and Cash Equivalents Cash and cash equivalents include unrestricted cash and highly-liquid money market instruments. Highly-liquid money market instruments include securities and repurchase agreements with original maturities of three months or less, money market mutual funds, and United States Treasury Bills with maturities of 30 days or less. Restricted Cash Restricted cash primarily includes escrow accounts held by lenders to pay real estate taxes, earnest money paid in connection with future acquisitions, and proceeds from property sales held by qualified intermediaries for potential like-kind exchanges in accordance with Section 1031 of the Code, if any. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Transactions With Tier Reit, In

Transactions With Tier Reit, Inc.	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
TRANSACTIONS WITH TIER REIT, INC.	TRANSACTIONS 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. The Merger has enhanced the Company's position in its existing markets of Austin and Charlotte, provided a strategic entry into Dallas, and rebalanced the Company's portfolio across its markets. 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 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 net of liabilities assumed in the Merger was $1.6 billion. During the years ended December 31, 2020 and December 31, 2019, the Company incurred expenses related to the Merger of $428,000 and $52.9 million, 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 a market approach, an income approach, and a cost approach to determine the fair value of real estate assets acquired. The purchase price was allocated as follows (in thousands): Real estate assets $ 2,202,073 Real estate assets held for sale 20,835 Cash and cash equivalents 84,042 Restricted cash 1,947 Notes and other receivables 8,278 Investment in unconsolidated joint ventures 331 Intangible assets 141,184 Other assets 10,040 2,468,730 Notes payable 747,549 Accounts payable and accrued expenses 53,321 Deferred income 8,388 Intangible liabilities 47,988 Other liabilities 7,793 Nonredeemable noncontrolling interests 5,329 870,368 Total purchase price $ 1,598,362 The following unaudited supplemental pro forma information is based upon the Company's historical 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 at the beginning of the period. Year ended December 31, 2019 2018 (unaudited, in thousands) Revenues $ 750,080 $ 702,463 Net income 232,136 28,064 Net income available to common stockholders 229,503 27,742 2019 supplemental pro forma earnings were adjusted to exclude the $52.9 million of transaction costs incurred in the year ended December 31, 2019. Supplemental pro forma earnings for the year ended December 31, 2018 were adjusted to include this charge. 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 (see note 5 for allocation of the purchase price). 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 $5.0 million from the land sale contract (difference between fair value and contract amount), $5.0 million from the Development Agreement, and $32.0 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 on March 1, 2019, 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 years ended December 31, 2020 and December 31, 2019, the Company recognized $14.9 million and $21.4 million, respectively, in fee income in the statement of operations related to the services provided to NS. As of December 31, 2020 and December 31, 2019, the Company had deferred income related to NS included in the consolidated balance sheet of $5.7 million and $11.3 million, respectively.

Transactions with Norfolk South

Transactions with Norfolk Southern Railway Company	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
TRANSACTIONS WITH NORFOLK SOUTHERN RAILWAY COMPANY	TRANSACTIONS 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. The Merger has enhanced the Company's position in its existing markets of Austin and Charlotte, provided a strategic entry into Dallas, and rebalanced the Company's portfolio across its markets. 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 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 net of liabilities assumed in the Merger was $1.6 billion. During the years ended December 31, 2020 and December 31, 2019, the Company incurred expenses related to the Merger of $428,000 and $52.9 million, 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 a market approach, an income approach, and a cost approach to determine the fair value of real estate assets acquired. The purchase price was allocated as follows (in thousands): Real estate assets $ 2,202,073 Real estate assets held for sale 20,835 Cash and cash equivalents 84,042 Restricted cash 1,947 Notes and other receivables 8,278 Investment in unconsolidated joint ventures 331 Intangible assets 141,184 Other assets 10,040 2,468,730 Notes payable 747,549 Accounts payable and accrued expenses 53,321 Deferred income 8,388 Intangible liabilities 47,988 Other liabilities 7,793 Nonredeemable noncontrolling interests 5,329 870,368 Total purchase price $ 1,598,362 The following unaudited supplemental pro forma information is based upon the Company's historical 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 at the beginning of the period. Year ended December 31, 2019 2018 (unaudited, in thousands) Revenues $ 750,080 $ 702,463 Net income 232,136 28,064 Net income available to common stockholders 229,503 27,742 2019 supplemental pro forma earnings were adjusted to exclude the $52.9 million of transaction costs incurred in the year ended December 31, 2019. Supplemental pro forma earnings for the year ended December 31, 2018 were adjusted to include this charge. 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 (see note 5 for allocation of the purchase price). 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 $5.0 million from the land sale contract (difference between fair value and contract amount), $5.0 million from the Development Agreement, and $32.0 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 on March 1, 2019, 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 years ended December 31, 2020 and December 31, 2019, the Company recognized $14.9 million and $21.4 million, respectively, in fee income in the statement of operations related to the services provided to NS. As of December 31, 2020 and December 31, 2019, the Company had deferred income related to NS included in the consolidated balance sheet of $5.7 million and $11.3 million, respectively.

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
REAL ESTATE	REAL ESTATE Acquisitions During 2020, the Company acquired The RailYard in Charlotte for $201.3 million, including acquisition costs . The Company accounted for this transaction as an acquisition of an asset and the following table summarizes the allocation of the purchase price of this property (in thousands): The RailYard Tangible assets: Operating properties $ 201,153 Tangible assets 201,153 Intangible assets: In-place leases 8,850 Above market leases 439 Intangible assets 9,289 Intangible liabilities: Below market leases (9,129) Intangible liabilities (9,129) Total net assets acquired $ 201,313 During 2020, the Company also acquired a 1,550 space parking garage in Charlotte for $85.3 million, including acquisition costs. This property is included in real estate assets on the consolidated balance sheet and in the Company's Charlotte/Office operating segment. Additionally, the Company completed multiple land acquisitions in the South End submarket of Charlotte during the fourth quarter of 2020. The Company acquired 3.4 and 2.4 acres of land to be used for future development for a gross purchase price of $28.1 million and $18.8 million, respectively. During 2019, the Company acquired 1200 Peachtree as discussed in note 4 a nd acquired its partner's interest in Terminus Office Holdings LLC as discussed in note 8. The Company accounted for these transactions as an acquisition of assets and the following table summarizes the allocation of the purchase price of these properties (in thousands): 1200 Peachtree Terminus Tangible assets: Building and improvements $ 62,836 $ 410,826 Land and improvements 19,495 49,345 Tangible assets 82,331 460,171 Intangible assets: In-place leases 9,969 24,674 Above market leases — 7,193 Intangible assets 9,969 31,867 Intangible liabilities: Below market leases — (4,745) Intangible liabilities — (4,745) Total net assets acquired $ 92,300 $ 487,293 Dispositions The Company had two dispositions of consolidated operating properties during the year ended December 31, 2020 and had no dispositions during the year ended December 31, 2019. The Company sold the following properties in 2020 ($ in thousands): Property Property Type Location Square Feet Sales Price Hearst Tower Office Charlotte, NC 966,000 $ 455,500 Woodcrest Office Cherry Hill, NJ 386,000 $ 25,300 The Company sold the properties noted above as part of its ongoing investment strategy, using these proceeds to fund new investment activity. The gain of $90.3 million from the sale of these properties is net of $459,000 of state income tax. 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. The Company's Burnett Plaza property was classified as held for sale as of December 31, 2020 and the Company's Woodcrest and Hearst Tower properties were classified as held for sale as of December 31, 2019. The major classes of assets and liabilities of these properties held for sale were as follows (in thousands): December 31, Real estate assets and other assets held for sale 2020 2019 Operating properties, net of accumulated depreciation of $8,123 and $44,478 in 2020 and 2019, respectively $ 106,864 $ 340,171 Notes and accounts receivable 439 5,520 Deferred rents receivable 2,480 5,745 Intangible assets, net of accumulated amortization of $6,065 and $16,615 in 2020 and 2019, respectively 15,830 8,657 Other assets 133 489 Total real estate assets and other assets held for sale $ 125,746 $ 360,582 Liabilities of real estate assets held for sale Accounts payable and accrued expenses $ 7,399 $ 12,497 Deferred income 44 2,638 Intangible liabilities, net of accumulated amortization of $1,205 and $7,771 in 2020 and 2019, respectively 3,014 5,471 Other liabilities 2,149 625 Total liabilities of real estate assets held for sale $ 12,606 $ 21,231 Impairment The Company tests for impairment whenever changes in circumstances indicate a building’s carrying value may not be recoverable. The test is conducted using undiscounted cash flows for the shorter of the building’s estimated hold period or its remaining useful life. When testing for recoverability of buildings held for investment, projected cash flows are used over its expected hold period. If the expected hold period includes some likelihood of shorter-term hold period from a potential sale, the probability of a sale is layered into the analysis. If any building's held for investment analysis were to fail the impairment test, its book value would be written down to its then current estimated fair value, before any selling expense, and that building would continue to depreciate over its remaining useful life. None of the Company’s buildings were impaired during any periods presented while under the held for investments classification. During the fourth quarter of 2020, the Company decided to accept an offer, with conditions, on Burnett Plaza. Based on the status of this offer as of December 31, 2020, the Company concluded the sale was probable within one year and, therefore, transferred the assets and liabilities of the building to held for sale. Because the carrying value of the building exceeded the expected net sale proceeds (including selling costs), the Company recorded a $14.8 million impairment charge in the accompanying statement of operations. The net proceeds were based on the third-party offer to purchase (a Level 2 input under authoritative guidance for fair value measurements). The Company may record additional impairment charges if operating results of individual buildings are materially different from our forecasts, the economy and the office industry weakens, or we shorten our contemplated holding period for additional buildings.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	LEASESAt December 31, 2020, the Company had five properties subject to operating ground leases with a weighted average remaining term of 71 years and one finance ground leases with a weighted average remaining term of five years. At December 31, 2020, the Company had right-of-use assets from operating ground leases of $55.8 million included in operating properties, projects under development, or land on the consolidated balance sheet and right-of-use assets from finance ground leases of $3.7 million included in land on the consolidated balance sheet. At December 31, 2020, the Company had lease liabilities for operating and finance ground leases of $58.6 million and $3.6 million, respectively, included in other liabilities on the consolidated balance sheet. The weighted average discount rate on these ground leases at December 31, 2020 was 4.5%. Rental payments on these ground leases are adjusted periodically based on either the Consumer Price Index, changes in developed square feet on the underlying leased asset, or on a pre-determined schedule. The monthly payments on a pre-determined schedule are recognized on a straight-line basis over the terms of the respective leases while payments resulting from changes in the Consumer Price Index or future development are reflected in the statement of operations at the time of the change. For the years ended December 31, 2020, 2019, and 2018, the Company recognized operating ground lease expense of $4.3 million, $3.9 million, and $3.5 million, respectively. For the year ended December 31, 2020 the Company had no variable lease expenses related to ground lease expense, and recognized interest expense related to finance ground leases of $474,000 . For the year ended December 31, 2020, the Company paid $3.5 million in cash related to operating ground leases and made $474,000 in cash payments related to financing ground leases. During 2020, the Company purchased one parcel of land previously under the Company's control through a finance ground lease for $6.4 million. The following table represents the undiscounted cash flows of our scheduled obligations for future minimum payments for ground leases as of December 31, 2020, with a reconciliation of these cash flows to the related ground lease liabilities in accordance with ASC 842 (in thousands): Operating Ground Leases Finance Ground Leases 2021 $ 2,959 $ 162 2022 2,672 162 2023 2,614 162 2024 2,497 162 2025 2,517 3,676 Thereafter 197,589 — $ 210,848 $ 4,324 Discount (152,229) (769) Lease liability $ 58,619 $ 3,555 The following table represents the undiscounted cash flows of our scheduled obligations for future minimum payments for ground leases as of December 31, 2019, with a reconciliation of these cash flows to the related ground lease liabilities in accordance with ASC 842 (in thousands): Operating Ground Leases Finance Ground Leases 2020 $ 3,175 $ 462 2021 2,959 6,562 2022 2,672 162 2023 2,614 162 2024 2,497 162 Thereafter 200,107 3,676 $ 214,024 $ 11,186 Discount (154,645) (1,456) Lease liability $ 59,379 $ 9,730
Leases	LEASESAt December 31, 2020, the Company had five properties subject to operating ground leases with a weighted average remaining term of 71 years and one finance ground leases with a weighted average remaining term of five years. At December 31, 2020, the Company had right-of-use assets from operating ground leases of $55.8 million included in operating properties, projects under development, or land on the consolidated balance sheet and right-of-use assets from finance ground leases of $3.7 million included in land on the consolidated balance sheet. At December 31, 2020, the Company had lease liabilities for operating and finance ground leases of $58.6 million and $3.6 million, respectively, included in other liabilities on the consolidated balance sheet. The weighted average discount rate on these ground leases at December 31, 2020 was 4.5%. Rental payments on these ground leases are adjusted periodically based on either the Consumer Price Index, changes in developed square feet on the underlying leased asset, or on a pre-determined schedule. The monthly payments on a pre-determined schedule are recognized on a straight-line basis over the terms of the respective leases while payments resulting from changes in the Consumer Price Index or future development are reflected in the statement of operations at the time of the change. For the years ended December 31, 2020, 2019, and 2018, the Company recognized operating ground lease expense of $4.3 million, $3.9 million, and $3.5 million, respectively. For the year ended December 31, 2020 the Company had no variable lease expenses related to ground lease expense, and recognized interest expense related to finance ground leases of $474,000 . For the year ended December 31, 2020, the Company paid $3.5 million in cash related to operating ground leases and made $474,000 in cash payments related to financing ground leases. During 2020, the Company purchased one parcel of land previously under the Company's control through a finance ground lease for $6.4 million. The following table represents the undiscounted cash flows of our scheduled obligations for future minimum payments for ground leases as of December 31, 2020, with a reconciliation of these cash flows to the related ground lease liabilities in accordance with ASC 842 (in thousands): Operating Ground Leases Finance Ground Leases 2021 $ 2,959 $ 162 2022 2,672 162 2023 2,614 162 2024 2,497 162 2025 2,517 3,676 Thereafter 197,589 — $ 210,848 $ 4,324 Discount (152,229) (769) Lease liability $ 58,619 $ 3,555 The following table represents the undiscounted cash flows of our scheduled obligations for future minimum payments for ground leases as of December 31, 2019, with a reconciliation of these cash flows to the related ground lease liabilities in accordance with ASC 842 (in thousands): Operating Ground Leases Finance Ground Leases 2020 $ 3,175 $ 462 2021 2,959 6,562 2022 2,672 162 2023 2,614 162 2024 2,497 162 Thereafter 200,107 3,676 $ 214,024 $ 11,186 Discount (154,645) (1,456) Lease liability $ 59,379 $ 9,730

Notes and Accounts Receivable

Notes and Accounts Receivable	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
NOTES AND ACCOUNTS RECEIVABLE	NOTES AND ACCOUNTS RECEIVABLE At December 31, 2020 and 2019, notes and accounts receivables included the following (in thousands): 2020 2019 Notes receivable $ 151 $ 356 Tenant and other receivables 20,097 23,324 $ 20,248 $ 23,680 At December 31, 2020 and 2019, the fair value of the Company’s notes receivable approximated the cost basis. Fair value was calculated by discounting future cash flows from the notes receivable at estimated rates in which similar loans would have been made at December 31, 2020 and 2019. The estimate of the rate, which is the most significant input in the discounted cash flow calculation, is intended to replicate notes of similar type and maturity. This fair value calculation is considered to be Level 3 under the guidelines as set forth in ASC 820, as the Company utilizes internally generated assumptions regarding current interest rates at which similar instruments would be executed.

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Ventures	12 Months Ended
	Dec. 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 December 31, 2020 and 2019 (in thousands). The information included in the summary of operations table is for the years ended December 31, 2020, 2019, and 2018 (in thousands). Total Assets Total Debt Total Equity (Deficit) Company's Investment SUMMARY OF FINANCIAL POSITION 2020 2019 2020 2019 2020 2019 2020 2019 DC Charlotte Plaza LLLP $ 173,704 $ 179,694 $ — $ — $ 90,648 $ 90,373 $ 47,941 $ 48,058 Austin 300 Colorado Project, LP 165,586 112,630 86,848 21,430 68,567 68,101 38,488 36,846 AMCO 120 WT Holdings, LLC 85,449 77,377 — — 84,311 70,696 15,735 13,362 Carolina Square Holdings LP 118,616 114,483 77,034 75,662 21,888 25,184 12,430 14,414 HICO Victory Center LP 16,544 16,045 — — 15,709 15,353 10,595 10,373 Charlotte Gateway Village, LLC — 109,675 — — — 106,651 — 6,718 Wildwood Associates — 11,061 — — — 10,978 — (521) (1) Crawford Long - CPI, LLC 29,641 28,459 66,423 67,947 (38,253) (40,250) (18,289) (1) (19,205) (1) Other 1,313 8,879 — — 1,316 7,318 292 4,113 $ 590,853 $ 658,303 $ 230,305 $ 165,039 $ 244,186 $ 354,404 $ 107,192 $ 114,158 Total Revenues Net Income (Loss) Company's Share of Net SUMMARY OF OPERATIONS 2020 2019 2018 2020 2019 2018 2020 2019 2018 DC Charlotte Plaza LLLP $ 20,439 $ 15,636 $ — $ 7,272 $ 5,894 $ — $ 3,380 $ 2,947 $ (1) Austin 300 Colorado Project, LP 841 422 487 466 199 220 233 100 110 AMCO 120 WT Holdings, LLC 3,000 40 — 2,740 (341) 38 (552) (68) — Carolina Square Holdings LP 14,581 12,344 10,686 3,061 470 (169) 1,472 133 (275) HICO Victory Center LP 356 513 400 356 513 400 178 276 219 Charlotte Gateway Village, LLC 6,692 27,708 26,932 3,202 10,285 10,285 1,658 5,143 5,143 Wildwood Associates — — — (9) (100) (1,140) 14 (50) 2,723 Crawford Long - CPI, LLC 12,650 12,664 12,383 3,797 3,897 3,446 1,808 1,866 1,641 Terminus Office Holdings LLC — 34,964 44,429 — 4,962 5,506 (23) 2,381 2,755 Other 4,300 180 198 524 (94) (3,234) (221) (62) (91) $ 62,859 $ 104,471 $ 95,515 $ 21,409 $ 25,685 $ 15,352 $ 7,947 $ 12,666 $ 12,224 (1) Negative balances are included in deferred income on the consolidated balance sheets. DC Charlotte Plaza LLLP ("Charlotte Plaza") – Charlotte Plaza is a 50-50 joint venture between the Company and Dimensional Fund Advisors ("DFA"), formed to develop, own, and operate DFA's 281,000 square foot regional headquarters building in Charlotte, North Carolina. Capital contributions and distributions of cash flow are made equally in accordance with each partner's partnership interest. The Company's required capital contribution is limited to a maximum of $46 million. The assets of the venture in the above table include a cash balance of $3.0 million at December 31, 2020. Austin 300 Colorado Project, LP ("300 Colorado") – 300 Colorado is a joint venture between the Company, 3C Block 28 Partners, LP ("3CB"), and 3C RR Xylem, LP ("3CRR"), formed for the purpose of developing a 358,000 square foot office building in Austin, Texas. The Company owns a 50% interest in the venture, 3CB owns a 34.5% interest, and 3CRR owns a 15.5% interest. 300 Colorado has a construction loan, secured by the project, whereby it may borrow up to $126 million to fund the construction of the building. The loan had an outstanding balance of $86.8 million at December 31, 2020. The loan bears interest at LIBOR plus 2.25% and matures on January 17, 2022. The assets of the venture in the above table include a cash balance of $2.9 million at December 31, 2020. Carolina Square Holdings LP ("Carolina Square") – Carolina Square is a 50-50 joint venture between the Company and NR 123 Franklin LLC ("Northwood Ravin"), which owns and operates a mixed-use property in Chapel Hill, North Carolina. This property contains 158,000 square feet of office space, 44,000 square feet of retail space, and 246 apartment units. Carolina Square has a construction loan, secured by the project, with an outstanding balance of $77.0 million. The loan bears interest at LIBOR plus 1.25% and matures on May 1, 2021. The Company and Northwood Ravin each guarantee 12.5% of the outstanding loan amount and guarantee completion of the project. The assets of the venture in the table above include a cash balance of $4.8 million at December 31, 2020. AMCO 120 WT Holdings, LLC ("AMCO") – AMCO is a joint venture between the Company, with a 20% interest, and affiliates of AMLI Residential (“AMLI”), with an 80% interest, formed to develop, own, and operate 120 West Trinity, a mixed-use property in Decatur, Georgia. The property contains 33,000 square feet of office space, 19,000 square feet of retail space, and 330 apartment units. Initial contributions to the joint venture for the purchase of land were funded entirely by AMLI. Subsequent contributions are funded in proportion to the members' percentage interests. The assets of the venture in the above table include a cash balance of $572,000 at December 31, 2020. HICO Victory Center LP ("HICO") – HICO is a joint venture between the Company and Hines Victory Center Associates Limited Partnership ("Hines Victory"), formed for the purpose of acquiring and subsequently developing an office parcel in Dallas, Texas. Pursuant to the joint venture agreement, all pre-development expenditures, other than land, are funded equally by the partners. The Company funded 75% of the cost of land while Hines Victory funded 25%. If the partners decide to commence construction of an office building, the capital accounts and economics of the venture will be adjusted such that the Company will own at least 90% of the venture and Hines will own up to 10%. As of December 31, 2020, the Company accounted for its investment in HICO under the equity method because it does not control the activities of the venture. If the partners decide to construct an office building within the venture, the Company expects to consolidate the venture. The assets of the venture in the table above include a cash balance of $697,000 at December 31, 2020. Charlotte Gateway Village, LLC ("Gateway") – Gateway was a 50-50 joint venture between the Company and Bank of America Corporation (“BOA”), which owned and operated Gateway Village, a 1.1 million square foot office building in Charlotte, North Carolina. On March 31, 2020 the Company sold its interest in Gateway 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 $44.6 million on the sale of its interest in Gateway included in gain on sales of investments in unconsolidated joint ventures, net of $227,000 of state income tax. Crawford Long—CPI, LLC ("Crawford Long" ) – Crawford Long is a 50-50 joint venture between the Company and Emory University that owns Emory University Hospital Midtown, a 358,000 square foot medical office building located in Atlanta, Georgia. Crawford Long has a $66.4 million, 3.5% fixed rate mortgage note which matures on June 1, 2023. The assets of the venture in the above table include a cash balance of $5.1 million at December 31, 2020. Terminus Office Holdings LLC ("TOH") – TOH was a 50-50 joint venture between the Company and institutional investors advised by J.P. Morgan Asset Management ("JPM"), which owned and operated two office buildings in Atlanta, Georgia. On October 1, 2019 the Company purchased JPM's 50% interest in TOH for $148 million in a transaction that valued Terminus 100 and Terminus 200 at $503 million. As a result, the Company consolidated TOH and recorded the assets and liabilities at fair value. Upon consolidation, the Company recognized a $92.8 million gain on this acquisition achieved in stages and recorded this amount in gain on investment property transactions. Wildwood Associates ("Wildwood") – Wildwood was a 50-50 joint venture between the Company and IBM which owned 6.3 acres of undeveloped land in the Wildwood Office Park in Atlanta, Georgia. In February 2020 the Company sold its remaining interest in the Wildwood Associates joint venture 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 and which is included in gain on sales of investments in unconsolidated joint ventures. Other Joint Ventures – TEMCO Associates, LLC ("Temco") was a 50-50 joint venture between the Company and Forestar Group, Inc., that owned a golf course in Georgia. In December 2020, the Company sold its remaining interest in Temco, to its venture partner for a gross purchase price of $786,000 and recognized a loss of $145,000 on the sale, included in gain on sales of investments in unconsolidated joint ventures. . CL Realty, LLC ("CL Realty") was a 50-50 joint venture between the Company and Forestar Group, Inc., that owned land near Padre Island in Texas. In December 2020, CL Realty sold the land to a third party. The Company's share of net proceeds was $2.2 million and share of loss on the sale, included in income from unconsolidated joint ventures, was $598,000. At December 31, 2020, the Company's unconsolidated joint ventures had aggregate outstanding indebtedness to third parties of $230.3 million. These loans are mortgage or construction loans, most of which are non-recourse to the Company, except as described above. In addition, in certain instances, the Company provides “non-recourse carve-out guarantees” on these non-recourse loans. The Company recognized $2.6 million, $7.1 million, and $9.3 million of development, leasing, and management fees, including salary and expense reimbursements, from unconsolidated joint ventures in 2020, 2019, and 2018, respectively.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS At December 31, 2020 and 2019, intangible assets included the following ($ in thousands): 2020 2019 In-place leases, net of accumulated amortization of $212,413 and $163,867 in 2020 and 2019, respectively $ 145,290 $ $ 202,760 Above-market tenant leases, net of accumulated amortization of $33,548 and $26,487 in 2020 and 2019, respectively 24,960 35,699 Below-market ground lease, net of accumulated amortization of $1,173 and $897 in 2020 and 2019, respectively 17,240 17,516 Goodwill 1,674 1,674 $ 189,164 $ 257,649 Aggregate net amortization expense related to intangible assets and liabilities was $43.1 million, $45.6 million, and $27.0 million for the years ended December 31, 2020, 2019, and 2018, respectively. Over the next five years and thereafter, aggregate amortization of these intangible assets and liabilities is anticipated to be as follows ($ in thousands): Below Market Above Market Below Market Ground Lease Above Market In Place Leases Total 2021 $ (14,616) $ (46) $ 276 $ 5,927 $ 38,405 $ 29,946 2022 (11,677) (46) 276 4,807 27,348 20,708 2023 (10,040) (46) 276 3,921 22,537 16,648 2024 (8,929) (46) 276 3,063 17,689 12,053 2025 (8,197) (46) 276 2,011 13,701 7,745 Thereafter (14,760) (1,397) 15,860 5,231 25,610 30,544 $ (68,219) $ (1,627) $ 17,240 $ 24,960 $ 145,290 $ 117,644 Weighted average remaining lease term 7 years 35 years 64 years 7 years 6 years 10 years The carrying amount of goodwill did not change during the years ended December 31, 2020 and 2019.

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS At December 31, 2020 and 2019, other assets included the following (in thousands): 2020 2019 Predevelopment costs and earnest money $ 17,841 $ 25,586 Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $32,582 and $29,131 in 2020 and 2019, respectively 17,211 17,791 Prepaid expenses and other assets 6,095 5,924 Lease inducements, net of accumulated amortization of $3,316 and $2,333 in 2020 and 2019, respectively 5,771 5,632 Line of credit deferred financing costs, net of accumulated amortization of $4,461 and $2,952 in 2020 and 2019, respectively 3,021 4,516 $ 49,939 $ 59,449 Predevelopment costs represent amounts that are capitalized related to predevelopment projects that the Company determined are probable of future development. Lease inducements are incentives paid to tenants in conjunction with leasing space, such as moving costs, sublease arrangements of prior space, and other costs. These amounts are amortized into rental revenues over the individual underlying lease terms.

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE The following table summarizes the terms of notes payable outstanding at December 31, 2020 and 2019 (in thousands): Description Interest Rate Maturity 2020 2019 Unsecured Notes: Credit Facility, Unsecured 1.19% 2023 $ 232,400 $ 251,500 Term Loan, Unsecured 1.34% 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 1,482,400 1,501,500 Secured Mortgage Notes: Fifth Third Center 3.37% 2026 137,057 140,332 Terminus 100 5.25% 2023 114,997 118,146 Colorado Tower 3.45% 2026 114,660 117,085 Promenade 4.27% 2022 92,593 95,986 816 Congress 3.75% 2024 78,232 79,987 Terminus 200 3.79% 2023 74,354 76,079 Legacy Union One 4.24% 2023 66,000 66,000 Meridian Mark Plaza 6.00% 2020 — 22,978 677,893 716,593 $ 2,160,293 $ 2,218,093 Unamortized premium 7,574 11,239 Unamortized loan costs (5,148) (6,357) Total Notes Payable $ 2,162,719 $ 2,222,975 Weighted average maturity of notes payable outstanding at December 31, 2020 was 4.6 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 1.75x; a fixed charge coverage ratio of at least 1.50x; 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 Company is in compliance with all covenants of the Credit Facility. 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 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 December 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 $767.6 million at December 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 December 31, 2020, the Term Loan's spread over LIBOR was 1.20%. The Company is in compliance with all covenants of the Term Loan. Unsecured Senior Notes In 2019, the Company issued a $650 million private placement of unsecured senior notes, which were funded in three tranches. The first tranche of $125 million is due in 2027 and has a fixed annual interest rate of 3.78%. The second tranche of $250 million is due in 2028 and has a fixed annual interest rate of 3.86%. The third tranche of $275 million is due in 2029 and has a fixed annual interest rate of 3.95%. In 2017, the Company issued a $350 million private placement, which were funded in two 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 unsecured senior notes contain financial covenants that require, among other things, the maintenance of an unencumbered interest coverage ratio of at least 1.75x; a fixed charge coverage ratio of at least 1.50x; 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. The Company is in compliance with all covenants of the unsecured senior notes. Secured Mortgage Notes In February 2020, the Company prepaid in full the $23.0 million Meridian Mark Plaza mortgage note, without penalty. As of December 31, 2020, the Company had $677.9 million outstanding on seven non-recourse mortgage notes. All interest rates on the secured mortgage notes are fixed. Assets with depreciated carrying values of $1.1 billion were pledged as security on these mortgage notes payable. Other Debt Information At December 31, 2020 and 2019, the estimated fair value of the Company’s notes payable was $2.3 billion c alculated by discounting the debt's remaining contractual cash flows at estimated rates at which similar loans could have been obtained at December 31, 2020 and 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 years ended December 31, 2020, 2019, and 2018, interest was recorded as follows (in thousands): 2020 2019 2018 Total interest incurred $ 74,929 $ 65,182 $ 44,332 Interest capitalized (14,324) (11,219) (4,902) Total interest expense $ 60,605 $ 53,963 $ 39,430 Debt Maturities Future principal payments due (including scheduled amortization payments and payments due upon maturity) on the Company's notes payable at December 31, 2020 are as follows (in thousands): 2021 $ 266,368 2022 102,401 2023 485,556 2024 79,087 2025 256,755 Thereafter 970,126 $ 2,160,293

Other Liabilities

Other Liabilities	12 Months Ended
	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
OTHER LIABILITIES	OTHER LIABILITIES Other liabilities on the consolidated balance sheets as of December 31, 2020 and December 31, 2019 included the following (in thousands): 2020 2019 Ground lease liability $ 58,619 $ 59,379 Prepaid rent 30,479 33,428 Security deposits 13,098 13,544 Restricted stock unit liability 10,613 16,592 Other liabilities 5,294 11,185 $ 118,103 $ 134,128

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments The Company had no letters of credit outstanding and had outstanding performance bonds totaling $577,000 at December 31, 2020. As a lessor, the Company had a total of $153.5 million in future obligations under leases to fund tenant improvements and other future construction obligations at December 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 consolidated financial statements as of and for the

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 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. In 2019, the Company issued 41.6 million shares of common stock in connection with the Merger. Ownership Limitations — In order to minimize the risk that the Company will not meet one of the requirements for qualification as a REIT, the Company's Articles of Incorporation include certain restrictions on the ownership of more than 3.9% of the Company’s total common and preferred stock, subject to waiver by the Board of Directors. Distribution of REIT Taxable Income — The following reconciles dividends paid and dividends applied in 2020, 2019, and 2018 to meet REIT distribution requirements (in thousands): 2020 2019 2018 Common and preferred dividends $ 176,272 $ 142,940 $ 107,167 Dividends treated as taxable compensation (167) (161) (150) Dividends applied to meet current year REIT distribution requirements $ 176,105 $ 142,779 $ 107,017 Tax Status of Distributions — The following summarizes the components of the taxability of the Company’s common stock distributions for the years ended December 31, 2020, 2019, and 2018: Total Ordinary Long-Term Unrecaptured Nondividend Distributions Section 199A Dividends Section 1061 One Year Amounts Disclosure (1) Section 1061 Three Year Amounts Disclosure (1) 2020 $ 1.190000 $ — $ 1.190000 $ 0.417166 $ — $ — $ 0.320351 $ 0.320351 2019 $ 1.130000 $ 0.983133 $ 0.146867 $ — $ — $ 0.983133 $ — $ — 2018 $ 1.020000 $ 1.005584 $ 0.014416 $ — $ — $ 1.005584 $ — $ — (1) Amounts included in Box 2a, Total Capital Gain Distributions, for purposes of section 1061 of the Internal Revenue Code. Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interests."

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 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 years ended December 31, 2020, 2019, and 2018, the Company recognized rental property revenues of $721.9 million, $628.8 million, and $463.4 million, respectively, of which $188.1 million, $176.6 million, and $119.3 million, respectively, represented variable rental revenue. For the years ended December 31, 2020, 2019, and 2018, the Company recognized fee and other revenue of $18.5 million, $28.8 million, and $11.8 million, respectively. The following tables set forth the future minimum rents to be received by consolidated entities under existing non-cancellable leases as of December 31, 2020, accounted for in accordance with ASC 842 and as of December 31, 2020, accounted for in accordance with ASC 840, respectively (in thousands): December 31, 2020 2021 $ 513,015 2022 489,715 2023 457,250 2024 425,805 2025 378,499 Thereafter 1,390,864 $ 3,655,148 December 31, 2019 2020 $ 502,147 2021 487,815 2022 438,624 2023 401,363 2024 365,024 Thereafter 1,358,674 $ 3,553,647

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 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 in 2020 relates to restricted stock and RSUs awarded in 2020, 2019, 2018, and 2017. Restricted stock and the 2020 RSUs are equity-classified awards (settled in shares of the Company) for which compensation expense per share is fixed. The 2019 and 2018 RSUs are liability-classified awards (settled in cash) for which the expense fluctuates from period to period dependent, in part, on the Company's stock price. For 2020, 2019, and 2018, stock-based compensation expense, net of forfeitures, was recorded as follows (in thousands): 2020 2019 2018 Equity-classified awards: Restricted stock $ 2,555 $ 2,468 $ 2,257 Market based RSUs 1,255 — — Performance based RSUs 428 — — Director grants 1,060 1,362 1,142 Total equity-classified award expense, net of forfeitures 5,298 3,830 3,399 Liability-classified awards Market based RSUs 2,498 6,306 2,712 Performance based RSUs 258 1,814 963 Time vested RSUs 633 1,040 357 Dividend equivalent units 675 740 532 Total liability-classified award expense, net of forfeitures 4,064 9,900 4,564 Total stock-based compensation expense, net of forfeitures $ 9,362 $ 13,730 $ 7,963 On April 23, 2019, the Company's stockholders approved the Cousins Properties Incorporated 2019 Omnibus Incentive Stock Plan (the "2019 Plan") which allows the Company to issue awards of stock options, stock grants, or stock appreciation rights to employees and directors. The 2019 Plan also allows the Company to issue awards to employees that are paid in cash or stock on the vesting date in an amount equal to the fair market value, as defined, of one share of the Company’s stock. As of December 31, 2020, 3,577,897 shares were authorized to be awarded pursuant to 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”), as amended, although no further issuances are permitted under the 2009 Plan or RSU Plan. Information on the Company's equity-classified and liability-classified awards is discussed below. Equity-Classified Awards During 2020, the Company granted three types of equity-classified awards to key employees: (1) RSUs based on the total stockholder return of the Company, as defined, relative to that of office peers included in the SNL US Office REIT Index (the "Market-based RSUs"), (2) RSUs based on the ratio of cumulative funds from operations per share to targeted cumulative funds from operations per share (the “Performance-based RSUs”), (3) and restricted stock. During 2019 and 2018, the only equity-based awards granted were restricted stock. The RSU awards are equity-classified awards to be settled in stock with issuance dependent upon the attainment of required service, market, and performance criteria. For the 2020 Market-based RSUs the Company expenses an estimate of the fair value of the awards on the grant date, calculated using a Monte Carlo valuation at grant date, ratably over the vesting period, adjusting only for forfeitures when they occur. The expense of these Market-based RSUs is not adjusted for the number of awards that actually vest. For the 2020 Performance-based RSUs the Company expenses the awards over the vesting period using the grant date fair market value of the Company's stock 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. The measurement period for both RSUs awarded in 2020 is three years starting on January 1st of the year of issuance and ending on December 31st. 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. The Company estimates future expense for all equity-classified RSUs outstanding at December 31, 2020 to be $2.7 million (using estimated vesting percentages for performance-based RSUs as of December 31, 2020), which will be recognized over a weighted-average period of 2.1 years. In 2020 2019, and 2018, the Company issued 71,421, 65,824, and 78,799 shares, respectively, of restricted stock to employees, which vest ratably over three years from the issuance date. In 2020, 2019, and 2018, the Company also issued 34,059, 37,166, and 29,638 shares, respectively, of stock to independent members of the board of directors which vested immediately on the issuance date. The Company records restricted stock in common stock and additional paid-in capital at fair value on the grant date, with the offsetting deferred compensation also recorded in additional paid-in capital. The Company records compensation expense over the vesting period. As of December 31, 2020, the Company had $2.7 million of unrecognized compensation cost included in additional paid-in capital related to restricted stock, which will be recognized over a weighted average period of 1.5 years. The total vesting-date fair value of the restricted stock which vested during 2020, 2019, and 2018 was $3.2 million, $2.6 million, and $2.3 million, respectively. The following table summarizes equity-classified award activity for the years ended December 31, 2020, 2019, and 2018 (shares in thousands): 2020 2019 2018 Shares Weighted Average Fair Market Value at Grant Shares Weighted Average Fair Market Value at Grant Shares Weighted Average Fair Market Value at Grant Shares unvested at beginning of the year 141 $34.81 148 $33.08 139 $31.72 Granted 173 $44.13 66 $35.64 78 $34.04 Vested (82) $34.69 (72) $34.09 (64) $31.32 Forfeited (11) $41.10 (1) $34.46 (5) $32.88 Shares unvested at end of year 221 $41.90 141 $34.81 148 $33.08 The Monte Carlo valuation used to determine the grant date fair value of the equity-classified Market-based RSUs included the following assumptions for those RSUs granted in 2020: 2020 Volatility (1) 18.00 % Risk-free rate (2) 1.34 % Stock beta (3) 1.04 % (1) Based on historical volatility over three years using daily stock price. (2) Reflects the yield on three-year Treasury bonds. (3) Betas are calculated with up to three years of daily stock price data. Dividend equivalents for the 2020 RSUs will be settled in shares of the Company's common stock based upon the number of units vested. The Company accrues for these dividend equivalent units over the measurement period as dividends are declared and they are included in distributions in excess of cumulative net income on the consolidated balance sheet. The targeted number of non-vested equity-classified RSUs at December 31, 2020 is 97,315. All shares of restricted stock receive dividends and have voting rights during the vesting period. In addition to the equity-classified RSUs and restricted stock, at December 31, 2020, the Company had 28,351 stock options outstanding to key employees and outside directors, which are exercisable for common stock, all of which are fully vested. In 2020, 2019, and 2018, there were no stock option grants to employees or directors, and the Company recognized no compensation expense related to stock options. During 2020 and 2019, the Company issued 12,373 and 10,451 shares for option exercises, respectively. As of December 31, 2020, the intrinsic value of the options outstanding and exercisable was $225,000. The intrinsic value is calculated using the exercise prices of the options compared to the market value of the Company’s stock. At December 31, 2020 and 2019, the weighted-average contractual lives for the options outstanding and exercisable were 0.1 years and 0.6 years, respectively. The following is a summary of stock option activity for the years ended December 31, 2020, 2019, and 2018 (options in thousands): 2020 2019 2018 Number of Options Weighted Average Exercise Price Per Option Number of Options Weighted Average Exercise Price Per Option Number of Options Weighted Average Exercise Price Per Option Outstanding at beginning of year 67 $23.13 114 $24.00 232 $26.36 Exercised (37) $21.28 (42) $25.59 (114) $26.40 Forfeited/Expired (2) $22.76 (5) $25.32 (4) $74.88 Outstanding at end of year 28 $25.55 67 $23.13 114 $24.00 Liability-Classified Awards During 2019, and 2018, the Company awarded three types of liability-classified awards to key employees: (1) Market-based RSUs, (2) Performance-based RSUs, (3) and Service-based RSUs. The 2019 and 2018 RSU awards are liability-classified awards to be settled in cash with payment dependent upon the attainment of required market, performance, and service criteria. The vesting period for the Market-based and Performance-based RSUs is three years starting on January 1st of the year of issuance and ending on December 31st. The vesting period for the Service-based RSUs is three years beginning with grant date. For the 2019 and 2018 Market-based RSUs the Company expenses an estimate of the fair value of the awards over the vesting period using a quarterly Monte Carlo valuation. For the 2019 and 2018 Performance-based RSUs the Company expenses the awards over the vesting period using the fair market value of the Company’s stock at the reporting date multiplied by the anticipated number of units to be paid based on the current estimate of what the ratio is expected to be upon vesting. For the 2019 and 2018 Service-based RSUs expenses the awards ratably over the vesting period using the fair market value of the Company's stock at the reporting date. The following table summarizes the Company's liability-classified award activity during the years ended December 31, 2020, 2019, and 2018 (shares in thousands): 2020 2019 2018 Shares Shares Shares Shares unvested at beginning of the year 316 276 262 Granted — 136 117 Vested (172) (95) (94) Forfeited (9) (1) (9) Shares unvested at end of year 135 316 276 Dividend equivalents on the 2019 and 2018 Market-based RSUs and Performance-based RSUs will be paid based upon the percentage vested. The Company accrues for and expenses these dividend equivalent units over the measurement period as dividends are declared, based on the latest projected vesting percentage. The targeted number of non-vested Market-based and Performance-based RSUs at December 31, 2020 are 87,645 related to the 2019 grants. For Service-based RSUs dividend equivalent units will be paid based on the number of RSUs granted. For the 2018 time-vested RSU grants, these dividend payments have been and will continue to be made concurrently with the payment of common dividends. For the 2019 time-vested RSU grants, dividend equivalent units will be paid out at the time of vesting. The Company accrues, expenses, and/or pays for these dividend equivalent units over the service period as dividends are declared. The Company estimates future expense for all types of liability-classified RSUs outstanding at December 31, 2020 to be $2.5 million (using stock prices and estimated target percentages as of December 31, 2020), which will be recognized over a weighted-average period of 1.4 years. During 2020, total cash paid for all types of liability-classified RSUs and related dividend payments was $9.9 million.

Retirement Savings Plan

Retirement Savings Plan	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
RETIREMENT SAVINGS PLAN	RETIREMENT SAVINGS PLAN The Company maintains a defined contribution plan (the “Retirement Savings Plan”) pursuant to Section 401 of the Internal Revenue Code (the “Code”) which covers active regular employees. Employees are eligible to participate in the Retirement Savings Plan immediately upon hire, and pre-tax contributions are allowed up to the limits set by the Code. Through December 31, 2018, the Company matched up to 3% of an employee’s eligible pre-tax Retirement Savings Plan contributions up to certain Code limits, and employees vested in Company contributions over a three-year period. On January 1, 2019, the Company began contributing 3% of an employee's eligible compensation to the plan, which is fully vested after the employee has been with the Company for two years. The Company may change this percentage at its discre tion; and, in addition, the Company could decide to make discretionary contributions in the future. The Company contributed $1.0 million, $913,000, and $647,000 to the Retirement Savings Plan for the 2020, 2019, and 2018 plan years, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The net income tax benefit differs from the amount computed by applying the statutory federal income tax rate to CTRS' income before taxes follows ($ in thousands): 2020 2019 2018 Amount Rate Amount Rate Amount Rate Federal income tax benefit (expenses) $ 125 21 % $ (65) (21) % $ 143 21 % State income tax benefit (expense), net of federal income tax effect 24 4 (12) (4) 27 4 Deferred tax adjustment 21 4 127 41 — — Excess tax benefits of capital losses 404 68 — — — — Valuation allowance (586) (98) (45) (15) (174) (26) Increase in book revenue allowance (89) (15) — — — — Other 101 16 (5) (1) 4 1 Benefit applicable to net income (loss) $ — — % $ — — % $ — — % The tax effect of significant temporary differences representing deferred tax assets and liabilities of CTRS as of December 31, 2020 and 2019 are as follows (in thousands): 2020 2019 Income from unconsolidated joint ventures $ 32 $ 27 Federal and state tax net operating loss carryforwards 696 702 Federal and state tax capital loss carryforwards 582 118 Other asset 104 — Gross deferred tax asset 1,414 847 Other liability — (19) Net deferred tax asset 1,414 828 Valuation allowance (1,414) (828) Net deferred tax asset after valuation allowance $ — $ — A valuation allowance is required to be recorded against deferred tax assets if, based on the available evidence, it is more likely than not that such assets will not be realized. When assessing the need for a valuation allowance, appropriate consideration should be given to all positive and negative evidence related to this realization. This evidence includes, among other things, the existence of current and recent cumulative losses, forecasts of future profitability, the length of statutory carryforward periods, the Company’s history with loss carryforwards and available tax planning strategies.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table sets forth the computation of the basic and diluted earnings per share of the Company's consolidated statements of operations for the years ended December 31, 2020, 2019 and 2018 (in thousands, except per share amounts): Year Ended December 31 2020 2019 2018 Earnings per common share - basic: Numerator: Net income $ 238,114 $ 152,683 $ 80,765 Net income attributable to noncontrolling interests in CPLP (315) (1,952) (1,345) Net income attributable to other noncontrolling interests (521) (313) (256) Net income available for common stockholders $ 237,278 $ 150,418 $ 79,164 Denominator: Weighted average common shares - basic 148,277 128,060 105,076 Net income per common share - basic $ 1.60 $ 1.17 $ 0.75 Earnings per common share - diluted: Numerator: Net income $ 238,114 $ 152,683 $ 80,765 Net income attributable to other noncontrolling interests (521) (313) (256) Net income available for common stockholders before net income attributable to noncontrolling interests in CPLP $ 237,593 $ 152,370 $ 80,509 Denominator: Weighted average common shares - basic 148,277 128,060 105,076 Add: Potential dilutive common shares - stock options 8 27 48 Potential dilutive restrictive stock units - RSUs, less shares assumed purchased at market price 54 — — Weighted average units of CPLP convertible into common shares 297 1,744 1,744 Weighted average common shares - diluted 148,636 129,831 106,868 Net income per common share - diluted $ 1.60 $ 1.17 $ 0.75 Anti-dilutive stock options represent stock options whose exercise price exceeds the average market value of the Company’s stock. These anti-dilutive stock options are not included in the current calculation of dilutive weighted average shares, but could be dilutive in the future. There were no anti-dilutive stock options outstanding as of December 31, 2020, 2019, and 2018.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows - Supplemental Information	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
CONSOLIDATED STATEMENTS OF CASH FLOWS - SUPPLEMENTAL INFORMATION	CONSOLIDATED STATEMENTS OF CASH FLOWS - SUPPLEMENTAL INFORMATION Supplemental information related to cash flows, including significant non-cash activity affecting the consolidated statements of cash flows, for the years ended December 31, 2020, 2019, and 2018 is as follows (in thousands): 2020 2019 2018 Interest paid, net of amounts capitalized $ 62,641 $ 38,062 $ 43,166 Income taxes paid (1) 343 — — Non-Cash Transactions: Transfer from projects under development to operating properties 443,932 — 325,490 Transfer from operating properties and related liabilities to assets and liabilities of real estate assets held for sale 188,378 318,516 — Common stock dividends declared and accrued 44,681 42,559 27,326 Change in accrued property acquisition, development, and tenant asset expenditures (25,745) 4,891 (18,104) Transfer from land held and other assets to projects under development 22,771 — — Non-cash assets and liabilities assumed in TIER transaction — 1,512,373 — Ground lease right-of-use assets and associated liabilities — 56,294 — Transfer from investment in unconsolidated joint ventures to operating properties — 50,781 — Non-cash consideration for property acquisition — 10,071 — Cumulative effect of change in accounting principle — — 22,329 Transfer from investment in unconsolidated joint ventures to projects under development — — 7,025 (1) This represents state income taxes paid in conjunction with gains from sales transaction. See notes 5 and 8 for disclosure of related expense. The following table provides a reconciliation of cash, cash equivalents, and restricted cash recorded on the balance sheet to cash, cash equivalents, and restricted cash in the statements of cash flows (in thousands): Year Ended December 31, 2020 2019 2018 Cash and cash equivalents $ 4,290 $ 15,603 $ 2,547 Restricted cash 1,848 2,005 148 Total cash, cash equivalents, and restricted cash $ 6,138 $ 17,608 $ 2,695

Reportable Segments

Reportable Segments	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
REPORTABLE SEGMENTS	REPORTABLE SEGMENTS The Company's segments are based on the 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 are properties located in Chapel Hill, Fort Worth, Houston, and a property in Cherry Hill, New Jersey, which was sold in February 2020. 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 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, reimbursed expenses, interest expense, depreciation and amortization, impairments, gains/loss on sales of real estate, gain/loss on extinguishment of debt, transaction costs 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 years ended December 31, 2020, 2019, and 2018 are as follows (in thousands): Year Ended December 31, 2020 Office Mixed-Use Total Revenues: Atlanta $ 255,594 $ 602 $ 256,196 Austin 210,229 — 210,229 Charlotte 96,537 — 96,537 Dallas 18,143 — 18,143 Phoenix 50,671 — 50,671 Tampa 54,261 — 54,261 Other 59,285 4,895 64,180 Total segment revenues 744,720 5,497 750,217 Less: Company's share of rental property revenues from unconsolidated joint ventures (22,837) (5,497) (28,334) Total rental property revenues $ 721,883 $ — $ 721,883 Year Ended December 31, 2019 Office Mixed-Use Total Revenues: Atlanta $ 242,209 $ 8 $ 242,217 Austin 160,196 — 160,196 Charlotte 120,214 — 120,214 Dallas 9,421 — 9,421 Phoenix 51,586 — 51,586 Tampa 54,216 — 54,216 Other 38,732 4,630 43,362 Total segment revenues 676,574 4,638 681,212 Less: Company's share of rental property revenues from unconsolidated joint ventures (47,823) (4,638) (52,461) Total rental property revenues $ 628,751 $ — $ 628,751 Year Ended December 31, 2018 Office Mixed-Use Total Revenues: Atlanta $ 206,692 $ — $ 206,692 Austin 104,817 — 104,817 Charlotte 92,398 — 92,398 Phoenix 51,238 — 51,238 Tampa 49,822 — 49,822 Other 2,207 3,724 5,931 Total segment revenues 507,174 3,724 510,898 Less: Company's share of rental property revenues from unconsolidated joint ventures (43,773) (3,724) (47,497) Total rental property revenues $ 463,401 $ — $ 463,401 NOI by reportable segment for the years ended December 31, 2020, 2019, and 2018 are as follows (in thousands): Year Ended December 31, 2020 Office Mixed-Use Total Net Operating Income: Atlanta $ 172,588 $ (49) $ 172,539 Austin 125,215 — 125,215 Charlotte 65,203 — 65,203 Dallas 14,586 — 14,586 Phoenix 37,358 — 37,358 Tampa 33,440 — 33,440 Other 34,346 3,347 37,693 Total Net Operating Income $ 482,736 $ 3,298 $ 486,034 Year Ended December 31, 2019 Office Mixed-Use Total Net Operating Income: Atlanta $ 158,093 $ (48) $ 158,045 Austin 93,311 — 93,311 Charlotte 77,082 — 77,082 Dallas 7,473 — 7,473 Phoenix 37,247 — 37,247 Tampa 33,586 — 33,586 Other 21,939 3,107 25,046 Total Net Operating Income $ 428,731 $ 3,059 $ 431,790 Year Ended December 31, 2018 Office Mixed-Use Total Net Operating Income: Atlanta $ 131,564 $ — $ 131,564 Charlotte 62,812 — 62,812 Austin 60,474 — 60,474 Phoenix 36,875 — 36,875 Tampa 30,514 — 30,514 Other 1,581 2,243 3,824 Total Net Operating Income $ 323,820 $ 2,243 $ 326,063 The following reconciles Net Income to Net Operating Income for each of the periods presented (in thousands): Year Ended December 31, 2020 2019 2018 Net income $ 238,114 $ 152,683 $ 80,765 Net operating income from unconsolidated joint ventures 18,836 32,413 28,888 Fee income (18,226) (28,518) (10,089) Termination fee income (3,835) (7,228) (1,548) Other income (231) (246) (1,722) Reimbursed expenses 1,580 4,004 3,782 General and administrative expenses 27,034 37,007 22,040 Interest expense 60,605 53,963 39,430 Impairment 14,829 — — Depreciation and amortization 288,648 257,149 181,382 Transaction costs 428 52,881 248 Other expenses 2,091 1,109 556 Gain on extinguishment of debt — — (8) Income from unconsolidated joint ventures (7,947) (12,666) (12,224) Gain on sale of investment in unconsolidated joint ventures, net (45,767) — — Gain on sale of investment properties (90,125) (110,761) (5,437) Net Operating Income $ 486,034 $ 431,790 $ 326,063

Real Estate and Accumulated Dep

Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
REAL ESTATE AND ACCUMULATED DEPRECIATION	COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2020 ($ in thousands) Initial Cost to Company Costs Capitalized Subsequent Gross Amount at Which Carried Description/Metropolitan Area Encumbrances Land and Buildings and Land and Building and Improvements less Cost of Sales, Transfers and Other Land and Building and Improvements less Cost of Sales, Transfers and Other Total (a)(b) Accumulated Date of Date Life on Which Depreciation in 2020 Statement of Operations is Computed (c) OPERATING PROPERTIES The Domain $ — $ 65,236 $ 755,143 $ 6,008 $ 230,349 $ 71,244 $ 985,492 $ 1,056,736 $ 35,842 — 2019 40 years Austin, TX Terminus 189,352 49,050 410,826 — 23,451 49,050 434,277 483,327 19,471 — 2019 40 years Atlanta, GA Northpark Town Center — 22,350 295,825 — 77,198 22,350 373,023 395,373 85,760 — 2014 39 years Atlanta, GA Corporate Center — 2,468 272,148 17,282 64,426 19,750 336,574 356,324 51,978 — 2016 40 years Tampa, FL Spring & 8th — 28,131 — 426 301,774 28,557 301,774 330,331 29,922 2015 2015 40 years Atlanta, GA Hayden Ferry — 13,102 262,578 (252) 26,676 12,850 289,254 302,104 49,929 — 2016 40 years Phoenix, AZ Buckhead Plaza — 35,064 234,111 — 23,652 35,064 257,763 292,827 38,761 — 2016 40 years Atlanta, GA The Terrace — 27,360 247,226 — 7,558 27,360 254,784 282,144 14,028 — 2019 40 years Austin, TX One Eleven Congress — 33,841 201,707 — 47,221 33,841 248,928 282,769 34,609 — 2016 40 years Austin, TX One South at The Plaza (fka Bank of America Plaza) — 32,091 229,840 (417) 8,620 31,674 238,460 270,134 21,849 — 2019 40 years Charlotte, NC Briarlake Plaza — 33,486 196,915 — 4,250 33,486 201,165 234,651 13,126 — 2019 40 years Houston, TX Fifth Third Center 137,057 22,591 180,430 — 27,122 22,591 207,552 230,143 47,212 — 2014 40 years Charlotte, NC San Jacinto Center — 34,068 176,535 (579) 18,908 33,489 195,443 228,932 27,446 — 2016 40 years Austin, TX 3344 Peachtree — 16,110 176,153 — 29,835 16,110 205,988 222,098 29,947 — 2016 40 years Atlanta, GA The RailYard — 22,831 178,323 — 44 22,831 178,367 201,198 391 — 2020 40 years Charlotte, NC Avalon $ — $ 9,952 $ — $ 73 $ 168,102 $ 10,025 $ 168,102 $ 178,127 $ 13,323 2016 2016 40 years Atlanta, GA Promenade 92,593 13,439 102,790 — 51,239 13,439 154,029 167,468 62,724 — 2011 34 years Atlanta, GA Colorado Tower 114,659 1,600 — 20,592 127,434 22,192 127,434 149,626 41,443 2013 2013 30 years Austin, TX 816 Congress 78,232 6,817 89,891 20,625 31,626 27,442 121,517 148,959 35,373 — 2013 42 years Austin, TX Legacy Union One 66,000 13,049 128,740 — 59 13,049 128,799 141,848 7,576 — 2019 40 years Dallas, GA 3350 Peachtree — 16,836 108,177 — 11,450 16,836 119,627 136,463 18,294 — 2016 40 years Atlanta, GA NASCAR Plaza — 51 115,238 — 7,505 51 122,743 122,794 19,656 — 2016 40 years Charlotte, NC Tempe Gateway — 5,893 95,130 — 6,912 5,893 102,042 107,935 15,867 — 2016 40 years Phoenix, AZ Domain Point — 17,349 71,599 — 4,949 17,349 76,548 93,897 4,580 — 2019 40 years Austin, TX BBT Parking Garage — 15,318 69,780 33 1,007 15,351 70,787 86,138 1,166 — 2020 40 years Charlotte, NC 1200 Peachtree — 19,495 62,836 (1) 977 19,494 63,813 83,307 2,934 — 2019 40 years Atlanta, GA 111 West Rio — 6,076 56,647 (127) 17,761 5,949 74,408 80,357 10,478 — 2017 40 years Phoenix, AZ 3348 Peachtree — 6,707 69,723 — 2,884 6,707 72,607 79,314 12,540 — 2016 40 years Atlanta, GA 5950 Sherry Lane — 8,040 65,919 — 2,283 8,040 68,202 76,242 4,451 — 2019 40 years Dallas, GA The Pointe — 9,404 54,694 — 8,360 9,404 63,054 72,458 11,631 — 2016 40 years Tampa, FL Harborview Plaza — 10,800 39,136 — 10,175 10,800 49,311 60,111 7,487 — 2016 40 years Tampa, FL Research Park V — 4,373 — 801 42,393 5,174 42,393 47,567 10,300 2014 1998 30 years Austin, TX Meridian Mark Plaza — 2,219 — — 31,698 2,219 31,698 33,917 22,979 1997 1997 30 years Atlanta, GA Total Operating Properties 677,893 605,197 4,948,060 64,464 1,417,898 669,661 6,365,958 7,035,619 803,073 Initial Cost to Company Costs Capitalized Subsequent Gross Amount at Which Carried Description/Metropolitan Area Encumbrances Land and Buildings and Land and Building and Improvements less Cost of Sales, Transfers and Other Land and Building and Improvements less Cost of Sales, Transfers and Other Total (a)(b) Accumulated Date of Date Life on Which Depreciation in 2020 Statement of Operations is Computed (c) HELD FOR SALE Burnett Plaza $ — $ 32,656 $ 90,104 $ (566) $ 7,622 $ 32,090 $ 97,726 $ 129,816 $ 8,123 — 2019 40 years Fort Worth, TX Total Properties Held for Sale — 32,656 90,104 (566) 7,622 32,090 97,726 129,816 8,123 — PROJECTS UNDER DEVELOPMENT 100 Mill — 13,156 — — 44,233 13,156 44,233 57,389 — 2020 2018 Phoenix, AZ Total Projects Under Development — 13,156 — — 44,233 13,156 44,233 57,389 — — LAND South End Station — 28,134 — — — 28,134 — 28,134 — — 2020 Charlotte, NC Legacy Union 2 & 3 — 22,724 — — — 22,724 — 22,724 — — 2019 Dallas, GA Domain 14 & 15 — 21,000 — — — 21,000 — 21,000 — — 2019 Austin, TX 303 Tremont — 18,779 — — — 18,779 — 18,779 — — 2020 Charlotte, NC Domain 9 — 16,640 — — — 16,640 — 16,640 — — 2018 Austin, TX 901 West Peachtree — 11,883 — 3,584 — 15,467 — 15,467 — — 2019 Atlanta, GA 3354 Peachtree — 13,410 — — — 13,410 — 13,410 — — 2018 Atlanta, GA 100 Mill - Adjacent Land — 6,350 — — — 6,350 — 6,350 — — 2018 Phoenix, AZ Domain Point 3 — 11,018 — — — 11,018 — 11,018 — — 2020 Austin, TX The Avenue Forsyth -Adjacent Land — 11,240 — (7,540) — 3,700 — 3,700 — — 2007 Suburban Atlanta, GA Corporate Center 5 — 5,188 — (4) — 5,184 — 5,184 — — 2019 Total Commercial Land — 166,366 — (3,960) — 162,406 — 162,406 — Total Properties $ 677,893 $ 817,375 $ 5,038,164 $ 59,938 $ 1,469,753 $ 877,313 $ 6,507,917 $ 7,385,230 $ 811,196 COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2020 (in thousands) NOTES: (a) Reconciliations of total real estate carrying value and accumulated depreciation for the three years ended December 31, 2020 are as follows: Real Estate Accumulated Depreciation 2020 2019 2018 2020 2019 2018 Balance at beginning of period $ 7,158,069 $ 4,121,286 $ 3,893,799 $ 621,617 $ 421,495 $ 275,977 Additions during the period: TIER merger — 2,222,989 — — — — Acquisitions 286,252 542,502 48,920 — — — Improvements and other capitalized costs 323,919 271,720 178,567 — — — Depreciation expense — — — 234,057 200,122 145,518 Total Additions 610,171 3,037,211 227,487 234,057 200,122 145,518 Deductions during the period: Cost of real estate sold (383,010) (428) — (44,478) — — Total Deductions (383,010) (428) — (44,478) — — Balance at end of period before impairment charges 7,385,230 7,158,069 4,121,286 811,196 621,617 421,495 Cumulative impairment charges on real estate assets owned at end of period (14,829) — — — — — Balance at end of period $ 7,370,401 $ 7,158,069 $ 4,121,286 $ 811,196 $ 621,617 $ 421,495 (b) The aggregate cost for federal income tax purposes, net of depreciation, was $5.2 billion (unaudited) at December 31, 2020. (c) Buildings and improvements are depreciated over 30 to 42 years. Leasehold improvements and other capitalized leasing costs are depreciated over the life of the asset or the term of the lease, whichever is shorter.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The consolidated financial statements include the accounts of the Company and its consolidated partnerships and wholly-owned subsidiaries. Intercompany transactions and balances have been eliminated in consolidation. The Company presents its financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) as outlined in the Financial Accounting Standard Board’s Accounting Standards Codification (the “Codification” or “ASC”). The Codification is the single source of authoritative accounting principles applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP. 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 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. Preferred stock was redeemed with each four shares combined into one share; fractional shares of preferred stock 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, stock options, restricted stock units, and per share information presented in the consolidated financial statements have been adjusted to reflect the reverse stock split on a retroactive basis for all periods presented. For the three years ended December 31, 2020, there were no items of other comprehensive income. Therefore, the Company did not present comprehensive income. Additionally, certain subtotals within the consolidated statements of operations for the year ended December 31, 2018 were removed to conform to the current period presentation. On January 1, 2019, the Company began recording lease termination fees in rental property revenues on the consolidated statements of operations as a result of the adoption of Accounting Standards Update ("ASU") 2016-02, "Leases," ("ASC 842"). The prior period amounts, which were included in other revenues, were reclassified to conform to the current period presentation.
Cost Capitalization, Depreciation and Amortization	Cost Capitalization: Costs related to planning, developing, leasing, and constructing a property, including costs of development personnel working directly on projects under development, are capitalized. In addition, the Company capitalizes interest to qualifying assets under development based on average accumulated expenditures outstanding during the period. In capitalizing interest to qualifying assets, the Company first uses the interest incurred on specific project debt, if any, and next uses the Company’s weighted average interest rate for non-project specific debt. The Company also capitalizes interest to investments accounted for under the equity method when the investee has property under development with a carrying value in excess of the investee’s borrowings. To the extent debt exists within an unconsolidated joint venture during the construction period, the venture capitalizes interest on that venture-specific debt. The Company capitalizes interest, real estate taxes, and certain operating expenses on the unoccupied portion of recently completed development properties from the date a project is substantially complete to the earlier of (1) the date on which the project achieves 90% economic occupancy or (2) one year after it is substantially complete. Through December 31, 2018, the Company capitalized direct and indirect leasing costs related to leases that are probable of being executed. These costs included commissions paid to outside brokers, legal costs incurred to negotiate and document a lease agreement, and internal costs that are based on time spent by leasing personnel on successful leases. The Company allocated these costs to individual tenant leases and amortized them over the related lease term. Beginning January 1, 2019, in connection with the implementation of ASC 842, the Company only capitalizes direct costs of a lease, which would not have been incurred if the lease had not been obtained. These costs generally would include commissions paid to employees or third parties and any other costs incremental to executing a lease that would not have otherwise been incurred. Depreciation and Amortization: Real estate assets are stated at depreciated cost less impairment, if any. Buildings are depreciated over their estimated useful lives, which range generally from 30 to 42 years. The life of a particular building depends upon a number of factors including whether the building was developed or acquired and the condition of the building upon acquisition. Furniture, fixtures, and equipment are depreciated over their estimated useful lives of three
Impairment	Impairment: We review our real estate assets on a property-by-property basis for impairment. This review includes our operating properties, properties under development, and land holdings. The first step in this process is for us to determine whether an asset is considered to be held and used or held for sale, in accordance with accounting guidance. In order to be considered a real estate asset held for sale, we must, among other things, have the authority to commit to a plan to sell the asset in its current condition, have commenced the plan to sell the asset, and have determined that it is probable that the asset will sell within one year. If we determine that an asset is held for sale, we record an impairment loss if the fair value less costs to sell is less than the carrying amount. All real estate assets not meeting the held for sale criteria are considered to be held and used. In the impairment analysis for assets held and used, we must determine whether there are indicators of impairment. For operating properties, these indicators could include a decline in a property’s leasing percentage, a current period operating loss or negative cash flows combined with a history of losses at the property, a decline in lease rates for that property or others in the property’s market, a significant change in the market value of the property, or an adverse change in the financial condition of significant tenants. For land holdings, indicators could include an overall decline in the market value of land in the region, a decline in development activity for the intended use of the land, or other adverse economic and market conditions. For projects under development, indicators could include material budget overruns without a corresponding funding source, significant delays in construction, occupancy, or stabilization schedule, regulatory changes or economic trends that have a significant impact on the market, or an adverse change in the financial condition of a significant tenant.
Acquisition of Real Estate Assets	Acquisition of Real Estate Assets: The Company evaluates all real estate acquisitions to determine if the transactions qualify as an acquisition of assets or of a business. If the Company determines that substantially all of the fair value is concentrated in a single identifiable asset or group of similar assets, the Company will account for the acquisition as an acquisition of assets and not a business. If the Company determines that there is no single or group of assets that make up substantially all of the fair value of assets acquired, the Company must determine whether the acquired set of assets includes an input and substantial processes which create an output. Based on the facts of the transactions and guidance in ASC 805, if the Company determines that an input and substantial processes that create an output are present, the Company will account for the acquisition as an acquisition of a business. For acquisitions that are accounted for as an acquisition of an asset, the Company records the acquired tangible and intangible assets and assumed liabilities based on each asset and liability's relative fair value at the acquisition date to the total purchase price plus capitalized acquisition costs. For acquisitions that are accounted for as an acquisition of a business, the Company records the acquired tangible and intangible assets and assumed liabilities at fair value at the acquisition date. The acquired assets and assumed liabilities for an operating property acquisition generally include but are not limited to: land, buildings and improvements, and identified tangible and intangible assets and liabilities associated with in-place leases, including leasing costs, value of above-market and below-market tenant leases, value of above-market and below-market ground leases, acquired in-place lease values, and tenant relationships, if any. The fair value of land is derived from comparable sales of land within the same submarket and/or region. The fair value of buildings and improvements, tenant improvements, and leasing costs are based upon current market replacement costs and other relevant market rate information. The fair value of the above-market or below-market component of an acquired lease is based upon the present value (calculated using a market discount rate) of the difference between (1) the contractual rents to be paid pursuant to the lease over its remaining term and (2) management’s estimate of the rents that would be paid using fair market rental rates and rent escalations at the date of acquisition over the remaining term of the lease. The amounts recorded for above-market and below-market ground leases are included in intangible liabilities and intangible assets, respectively, and are amortized on a straight-line basis into rental property revenues over the remaining terms of the applicable leases. The fair value of acquired in-place leases is derived based on management’s assessment of lost revenue and costs incurred for the period required to lease the “assumed vacant” property to the occupancy level when purchased. The amount recorded for acquired in-place leases is included in intangible assets and amortized as an increase to depreciation and amortization expense over the remaining term of the applicable leases.
Investment in Joint Ventures	Investment in Joint Ventures For joint ventures that the Company does not control, but over which it exercises significant influence, the Company uses the equity method of accounting. The Company's judgment with regard to its level of influence or control of an entity involves consideration of various factors including the form of its ownership interest; its representation in the entity's governance; its ability to participate in policy-making decisions; and the rights of other investors to participate in the decision-making process, to replace the Company as manager, and/or to liquidate the venture. These ventures are recorded at cost and adjusted for equity in earnings (losses) and cash contributions and distributions. Any difference between the carrying amount of these investments on the Company’s balance sheet and the underlying equity in net assets on the joint venture’s balance sheet is adjusted as the related underlying assets are depreciated, amortized, or sold. The Company generally allocates income and loss from an unconsolidated joint venture based on the venture's distribution priorities, which may be different from its stated ownership percentage.
Noncontrolling Interest	Noncontrolling Interest The Company consolidates CPLP and certain joint ventures in which it owns a controlling interest. In cases where the entity’s documents do not contain a required redemption clause, the Company records the partner’s share of the entity in the equity section of the balance sheets in nonredeemable noncontrolling interests. In cases where the entity’s documents contain a provision requiring the Company to purchase the partner’s share of the venture at a certain value upon demand or at a future date, if any, the Company records the partner’s share of the entity in redeemable noncontrolling interests on the balance sheets. The outside partners' interests in CPLP are redeemable upon demand, into cash or shares of common stock of the Company at the Company's sole discretion. Therefore, noncontrolling interests associated with CPLP are considered
Revenue Recognition	Revenue Recognition Rental Property Revenues: The Company recognizes contractual revenues from leases on a straight-line basis over the term of the respective lease. If we determine the improvements are our assets, we capitalize the cost of the improvements and recognize depreciation expense associated with such improvements over the shorter of the estimated useful life or the term of the lease. If the improvements are tenant assets, we defer the cost of improvements funded by us as a lease incentive asset and amortize it as a reduction of rental revenue over the term of the lease. Our determination of whether improvements are our assets or tenant assets also affects when we commence revenue recognition in connection with a lease. The Company records deferred revenue for the portion of company owned tenant improvements funded or reimbursed by tenants and amortizes this amount on a straight-line basis into rental income over the term of the related lease. As of December 31, 2020 and 2019, the Company had unamortized deferred income related to tenant funded tenant improvements of $31.6 million and $17.8 million, respectively, included in deferred income on the consolidated balance sheets. Fee Income: The Company recognizes development, management, and leasing fees as it satisfies the related performance obligations under the respective contracts. The Company recognizes development and leasing fees received from investments in unconsolidated joint ventures and related salaries and other direct costs incurred by the Company as income and expense based on the percentage of the joint venture which the Company does not own. Correspondingly, the Company adjusts its investment in unconsolidated joint ventures when fees are paid to the Company by a joint venture in which the Company has an ownership interest. Gain on Investment Property Transactions: The Company recognizes a gain on the sale of investment property at the time the buyer obtains control of the investment property. If the Company maintains any continuing involvement with the investment property, that continuing involvement is considered to be one or more additional performance obligations and additional gains or losses will be recognized as these performance obligations are satisfied.
Receivables	The Company makes valuation adjustments to all tenant-related accounts receivable based upon its estimate of the likelihood of collectibility of amounts due from the tenant. The amount of any valuation adjustment is based on the tenant’s credit and business risk, history of payment, and other factors considered by management.In limited circumstances to date, we have entered into lease amendments with certain tenants, a majority of which are small retail operators who have experienced disruptions in their business as a result of the COVID-19 pandemic. Some of these agreements forgive rents and extend the lease term for the equivalent number of months at the end of the original lease and others provide for forgiveness without extension. Rent forgiveness, with or without extensions, is accounted for as lease modifications, and the Company will recognize the effects over time through straight-line rent over the lease term. Other agreements provide for payment deferrals without extensions. The Company will also account for these deferral agreements as lease modifications and has included these deferred payments in deferred rents receivable on the accompanying consolidated balance sheet.
Income Taxes	Income Taxes The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, the Company must distribute annually at least 90% of its adjusted taxable income, as defined in the Code, to its stockholders and satisfy certain other organizational and operating requirements. It is management’s current intention to adhere to these requirements and maintain the Company's REIT status. As a REIT, the Company generally will not be subject to federal income tax at the corporate level on the taxable income it distributes to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes at regular corporate rates and may not be able to qualify as a REIT for four subsequent taxable years. The Company may be subject to certain state and local taxes on its income and property, and to federal income taxes on its undistributed taxable income. CTRS is a C-Corporation for federal income tax purposes and uses the liability method for accounting for income taxes. Tax return positions are recognized in the financial statements when they are “more-likely-than-not” to be sustained
Stock Compensation	Stock Compensation The Company accounts for stock-based employee compensation using the fair value based method of accounting. We classify share-based payment awards granted in exchange for employee services as either equity awards or liability awards. Equity classified awards are measured based on the fair value on the date of grant. Awards that are to be settled in cash are classified as liability awards. The value of all of the Company's share-based awards is recognized over the period during which an employee is required to provide services in exchange for the award - the requisite service period (usually the vesting period). No compensation costs are recognized for awards which employees do not render the requisite service period.
Earnings per Share	Earnings per Share Net income per share-basic is calculated as net income available to common stockholders divided by the weighted average number of common shares outstanding during the period, including nonvested restricted stock which has nonforfeitable dividend rights. Net income per share-diluted is calculated as net income available to common stockholders plus noncontrolling interests in CPLP divided by the diluted weighted average number of common shares outstanding during the period. Diluted weighted average number of common shares uses the same weighted average share number as in the basic calculation and adds the potential dilution that would occur if the outside units in CPLP were converted into the Company's common stock, stock options (or any other contracts to issue common stock) were exercised, and equity-based restricted stock units ("RSUs") were vested and settled resulting in additional common shares outstanding, calculated using the treasury stock method. Stock options are dilutive when the average market price of the Company’s stock during the period exceeds the option exercise price. Market-based RSUs are dilutive when granted with the dilution impact calculated based on projected vesting percentages. Performance-based RSUs are dilutive once the minimum performance criteria has been met and the dilution impact is calculated based on projected vesting percentages.
Cash and Cash Equivalents	Cash and Cash EquivalentsCash and cash equivalents include unrestricted cash and highly-liquid money market instruments. Highly-liquid money market instruments include securities and repurchase agreements with original maturities of three months or less, money market mutual funds, and United States Treasury Bills with maturities of 30 days or less.
Restricted Cash	Restricted CashRestricted cash primarily includes escrow accounts held by lenders to pay real estate taxes, earnest money paid in connection with future acquisitions, and proceeds from property sales held by qualified intermediaries for potential like-kind exchanges in accordance with Section 1031 of the Code
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Reportable Segments	The Company's segments are based on the 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 are properties located in Chapel Hill, Fort Worth, Houston, and a property in Cherry Hill, New Jersey, which was sold in February 2020. 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 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, reimbursed expenses, interest expense, depreciation and amortization, impairments, gains/loss on sales of real estate, gain/loss on extinguishment of debt, transaction costs and other non-operating items.

Transactions With Tier Reit, _2

Transactions With Tier Reit, Inc. (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Schedule of purchase price allocation	The purchase price was allocated as follows (in thousands): Real estate assets $ 2,202,073 Real estate assets held for sale 20,835 Cash and cash equivalents 84,042 Restricted cash 1,947 Notes and other receivables 8,278 Investment in unconsolidated joint ventures 331 Intangible assets 141,184 Other assets 10,040 2,468,730 Notes payable 747,549 Accounts payable and accrued expenses 53,321 Deferred income 8,388 Intangible liabilities 47,988 Other liabilities 7,793 Nonredeemable noncontrolling interests 5,329 870,368 Total purchase price $ 1,598,362
Unaudited supplemental pro forma information	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 at the beginning of the period. Year ended December 31, 2019 2018 (unaudited, in thousands) Revenues $ 750,080 $ 702,463 Net income 232,136 28,064 Net income available to common stockholders 229,503 27,742

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2020
Real Estate [Abstract]
Schedule of property acquired	The Company accounted for this transaction as an acquisition of an asset and the following table summarizes the allocation of the purchase price of this property (in thousands): The RailYard Tangible assets: Operating properties $ 201,153 Tangible assets 201,153 Intangible assets: In-place leases 8,850 Above market leases 439 Intangible assets 9,289 Intangible liabilities: Below market leases (9,129) Intangible liabilities (9,129) Total net assets acquired $ 201,313 1200 Peachtree Terminus Tangible assets: Building and improvements $ 62,836 $ 410,826 Land and improvements 19,495 49,345 Tangible assets 82,331 460,171 Intangible assets: In-place leases 9,969 24,674 Above market leases — 7,193 Intangible assets 9,969 31,867 Intangible liabilities: Below market leases — (4,745) Intangible liabilities — (4,745) Total net assets acquired $ 92,300 $ 487,293
Properties sold that qualify as discontinued operations	The Company had two dispositions of consolidated operating properties during the year ended December 31, 2020 and had no dispositions during the year ended December 31, 2019. The Company sold the following properties in 2020 ($ in thousands): Property Property Type Location Square Feet Sales Price Hearst Tower Office Charlotte, NC 966,000 $ 455,500 Woodcrest Office Cherry Hill, NJ 386,000 $ 25,300
Schedule of assets and liabilities of properties held for sale	The major classes of assets and liabilities of these properties held for sale were as follows (in thousands): December 31, Real estate assets and other assets held for sale 2020 2019 Operating properties, net of accumulated depreciation of $8,123 and $44,478 in 2020 and 2019, respectively $ 106,864 $ 340,171 Notes and accounts receivable 439 5,520 Deferred rents receivable 2,480 5,745 Intangible assets, net of accumulated amortization of $6,065 and $16,615 in 2020 and 2019, respectively 15,830 8,657 Other assets 133 489 Total real estate assets and other assets held for sale $ 125,746 $ 360,582 Liabilities of real estate assets held for sale Accounts payable and accrued expenses $ 7,399 $ 12,497 Deferred income 44 2,638 Intangible liabilities, net of accumulated amortization of $1,205 and $7,771 in 2020 and 2019, respectively 3,014 5,471 Other liabilities 2,149 625 Total liabilities of real estate assets held for sale $ 12,606 $ 21,231

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of future minimum payments on operating ground leases, ASU 842	The following table represents the undiscounted cash flows of our scheduled obligations for future minimum payments for ground leases as of December 31, 2020, with a reconciliation of these cash flows to the related ground lease liabilities in accordance with ASC 842 (in thousands): Operating Ground Leases Finance Ground Leases 2021 $ 2,959 $ 162 2022 2,672 162 2023 2,614 162 2024 2,497 162 2025 2,517 3,676 Thereafter 197,589 — $ 210,848 $ 4,324 Discount (152,229) (769) Lease liability $ 58,619 $ 3,555 The following table represents the undiscounted cash flows of our scheduled obligations for future minimum payments for ground leases as of December 31, 2019, with a reconciliation of these cash flows to the related ground lease liabilities in accordance with ASC 842 (in thousands): Operating Ground Leases Finance Ground Leases 2020 $ 3,175 $ 462 2021 2,959 6,562 2022 2,672 162 2023 2,614 162 2024 2,497 162 Thereafter 200,107 3,676 $ 214,024 $ 11,186 Discount (154,645) (1,456) Lease liability $ 59,379 $ 9,730
Schedule of future minimum payments on finance ground leases, ASU 842	The following table represents the undiscounted cash flows of our scheduled obligations for future minimum payments for ground leases as of December 31, 2020, with a reconciliation of these cash flows to the related ground lease liabilities in accordance with ASC 842 (in thousands): Operating Ground Leases Finance Ground Leases 2021 $ 2,959 $ 162 2022 2,672 162 2023 2,614 162 2024 2,497 162 2025 2,517 3,676 Thereafter 197,589 — $ 210,848 $ 4,324 Discount (152,229) (769) Lease liability $ 58,619 $ 3,555 The following table represents the undiscounted cash flows of our scheduled obligations for future minimum payments for ground leases as of December 31, 2019, with a reconciliation of these cash flows to the related ground lease liabilities in accordance with ASC 842 (in thousands): Operating Ground Leases Finance Ground Leases 2020 $ 3,175 $ 462 2021 2,959 6,562 2022 2,672 162 2023 2,614 162 2024 2,497 162 Thereafter 200,107 3,676 $ 214,024 $ 11,186 Discount (154,645) (1,456) Lease liability $ 59,379 $ 9,730

Notes and Accounts Receivable (

Notes and Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Components of notes and accounts receivables	At December 31, 2020 and 2019, notes and accounts receivables included the following (in thousands): 2020 2019 Notes receivable $ 151 $ 356 Tenant and other receivables 20,097 23,324 $ 20,248 $ 23,680

Investment in Unconsolidated _2

Investment in Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Summary of financial data and principal activities of unconsolidated joint ventures	The information included in the following table entitled summary of financial position is as of December 31, 2020 and 2019 (in thousands). The information included in the summary of operations table is for the years ended December 31, 2020, 2019, and 2018 (in thousands). Total Assets Total Debt Total Equity (Deficit) Company's Investment SUMMARY OF FINANCIAL POSITION 2020 2019 2020 2019 2020 2019 2020 2019 DC Charlotte Plaza LLLP $ 173,704 $ 179,694 $ — $ — $ 90,648 $ 90,373 $ 47,941 $ 48,058 Austin 300 Colorado Project, LP 165,586 112,630 86,848 21,430 68,567 68,101 38,488 36,846 AMCO 120 WT Holdings, LLC 85,449 77,377 — — 84,311 70,696 15,735 13,362 Carolina Square Holdings LP 118,616 114,483 77,034 75,662 21,888 25,184 12,430 14,414 HICO Victory Center LP 16,544 16,045 — — 15,709 15,353 10,595 10,373 Charlotte Gateway Village, LLC — 109,675 — — — 106,651 — 6,718 Wildwood Associates — 11,061 — — — 10,978 — (521) (1) Crawford Long - CPI, LLC 29,641 28,459 66,423 67,947 (38,253) (40,250) (18,289) (1) (19,205) (1) Other 1,313 8,879 — — 1,316 7,318 292 4,113 $ 590,853 $ 658,303 $ 230,305 $ 165,039 $ 244,186 $ 354,404 $ 107,192 $ 114,158 Total Revenues Net Income (Loss) Company's Share of Net SUMMARY OF OPERATIONS 2020 2019 2018 2020 2019 2018 2020 2019 2018 DC Charlotte Plaza LLLP $ 20,439 $ 15,636 $ — $ 7,272 $ 5,894 $ — $ 3,380 $ 2,947 $ (1) Austin 300 Colorado Project, LP 841 422 487 466 199 220 233 100 110 AMCO 120 WT Holdings, LLC 3,000 40 — 2,740 (341) 38 (552) (68) — Carolina Square Holdings LP 14,581 12,344 10,686 3,061 470 (169) 1,472 133 (275) HICO Victory Center LP 356 513 400 356 513 400 178 276 219 Charlotte Gateway Village, LLC 6,692 27,708 26,932 3,202 10,285 10,285 1,658 5,143 5,143 Wildwood Associates — — — (9) (100) (1,140) 14 (50) 2,723 Crawford Long - CPI, LLC 12,650 12,664 12,383 3,797 3,897 3,446 1,808 1,866 1,641 Terminus Office Holdings LLC — 34,964 44,429 — 4,962 5,506 (23) 2,381 2,755 Other 4,300 180 198 524 (94) (3,234) (221) (62) (91) $ 62,859 $ 104,471 $ 95,515 $ 21,409 $ 25,685 $ 15,352 $ 7,947 $ 12,666 $ 12,224 (1) Negative balances are included in deferred income on the consolidated balance sheets.

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of intangible assets	At December 31, 2020 and 2019, intangible assets included the following ($ in thousands): 2020 2019 In-place leases, net of accumulated amortization of $212,413 and $163,867 in 2020 and 2019, respectively $ 145,290 $ $ 202,760 Above-market tenant leases, net of accumulated amortization of $33,548 and $26,487 in 2020 and 2019, respectively 24,960 35,699 Below-market ground lease, net of accumulated amortization of $1,173 and $897 in 2020 and 2019, respectively 17,240 17,516 Goodwill 1,674 1,674 $ 189,164 $ 257,649
Aggregate amortization of intangible assets and liabilities	Over the next five years and thereafter, aggregate amortization of these intangible assets and liabilities is anticipated to be as follows ($ in thousands): Below Market Above Market Below Market Ground Lease Above Market In Place Leases Total 2021 $ (14,616) $ (46) $ 276 $ 5,927 $ 38,405 $ 29,946 2022 (11,677) (46) 276 4,807 27,348 20,708 2023 (10,040) (46) 276 3,921 22,537 16,648 2024 (8,929) (46) 276 3,063 17,689 12,053 2025 (8,197) (46) 276 2,011 13,701 7,745 Thereafter (14,760) (1,397) 15,860 5,231 25,610 30,544 $ (68,219) $ (1,627) $ 17,240 $ 24,960 $ 145,290 $ 117,644 Weighted average remaining lease term 7 years 35 years 64 years 7 years 6 years 10 years

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of other assets	At December 31, 2020 and 2019, other assets included the following (in thousands): 2020 2019 Predevelopment costs and earnest money $ 17,841 $ 25,586 Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $32,582 and $29,131 in 2020 and 2019, respectively 17,211 17,791 Prepaid expenses and other assets 6,095 5,924 Lease inducements, net of accumulated amortization of $3,316 and $2,333 in 2020 and 2019, respectively 5,771 5,632 Line of credit deferred financing costs, net of accumulated amortization of $4,461 and $2,952 in 2020 and 2019, respectively 3,021 4,516 $ 49,939 $ 59,449

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Summary of terms of notes payable	The following table summarizes the terms of notes payable outstanding at December 31, 2020 and 2019 (in thousands): Description Interest Rate Maturity 2020 2019 Unsecured Notes: Credit Facility, Unsecured 1.19% 2023 $ 232,400 $ 251,500 Term Loan, Unsecured 1.34% 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 1,482,400 1,501,500 Secured Mortgage Notes: Fifth Third Center 3.37% 2026 137,057 140,332 Terminus 100 5.25% 2023 114,997 118,146 Colorado Tower 3.45% 2026 114,660 117,085 Promenade 4.27% 2022 92,593 95,986 816 Congress 3.75% 2024 78,232 79,987 Terminus 200 3.79% 2023 74,354 76,079 Legacy Union One 4.24% 2023 66,000 66,000 Meridian Mark Plaza 6.00% 2020 — 22,978 677,893 716,593 $ 2,160,293 $ 2,218,093 Unamortized premium 7,574 11,239 Unamortized loan costs (5,148) (6,357) Total Notes Payable $ 2,162,719 $ 2,222,975 Weighted average maturity of notes payable outstanding at December 31, 2020 was 4.6 years.
Summary of interest recorded	For the years ended December 31, 2020, 2019, and 2018, interest was recorded as follows (in thousands): 2020 2019 2018 Total interest incurred $ 74,929 $ 65,182 $ 44,332 Interest capitalized (14,324) (11,219) (4,902) Total interest expense $ 60,605 $ 53,963 $ 39,430
Schedule of future principal payments due	Future principal payments due (including scheduled amortization payments and payments due upon maturity) on the Company's notes payable at December 31, 2020 are as follows (in thousands): 2021 $ 266,368 2022 102,401 2023 485,556 2024 79,087 2025 256,755 Thereafter 970,126 $ 2,160,293

Other Liabilities (Tables)

Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Summary of Other Liabilities	Other liabilities on the consolidated balance sheets as of December 31, 2020 and December 31, 2019 included the following (in thousands): 2020 2019 Ground lease liability $ 58,619 $ 59,379 Prepaid rent 30,479 33,428 Security deposits 13,098 13,544 Restricted stock unit liability 10,613 16,592 Other liabilities 5,294 11,185 $ 118,103 $ 134,128

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Summary of distribution of taxable income	The following reconciles dividends paid and dividends applied in 2020, 2019, and 2018 to meet REIT distribution requirements (in thousands): 2020 2019 2018 Common and preferred dividends $ 176,272 $ 142,940 $ 107,167 Dividends treated as taxable compensation (167) (161) (150) Dividends applied to meet current year REIT distribution requirements $ 176,105 $ 142,779 $ 107,017
Summary of components of the taxability of the Company's dividends	The following summarizes the components of the taxability of the Company’s common stock distributions for the years ended December 31, 2020, 2019, and 2018: Total Ordinary Long-Term Unrecaptured Nondividend Distributions Section 199A Dividends Section 1061 One Year Amounts Disclosure (1) Section 1061 Three Year Amounts Disclosure (1) 2020 $ 1.190000 $ — $ 1.190000 $ 0.417166 $ — $ — $ 0.320351 $ 0.320351 2019 $ 1.130000 $ 0.983133 $ 0.146867 $ — $ — $ 0.983133 $ — $ — 2018 $ 1.020000 $ 1.005584 $ 0.014416 $ — $ — $ 1.005584 $ — $ — (1) Amounts included in Box 2a, Total Capital Gain Distributions, for purposes of section 1061 of the Internal Revenue Code. Section 1061 is generally applicable to direct and indirect holders of “applicable partnership interests."

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Future minimum rentals to be received under existing non-cancelable leases	The following tables set forth the future minimum rents to be received by consolidated entities under existing non-cancellable leases as of December 31, 2020, accounted for in accordance with ASC 842 and as of December 31, 2020, accounted for in accordance with ASC 840, respectively (in thousands): December 31, 2020 2021 $ 513,015 2022 489,715 2023 457,250 2024 425,805 2025 378,499 Thereafter 1,390,864 $ 3,655,148 December 31, 2019 2020 $ 502,147 2021 487,815 2022 438,624 2023 401,363 2024 365,024 Thereafter 1,358,674 $ 3,553,647

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense, net of forfeitures	For 2020, 2019, and 2018, stock-based compensation expense, net of forfeitures, was recorded as follows (in thousands): 2020 2019 2018 Equity-classified awards: Restricted stock $ 2,555 $ 2,468 $ 2,257 Market based RSUs 1,255 — — Performance based RSUs 428 — — Director grants 1,060 1,362 1,142 Total equity-classified award expense, net of forfeitures 5,298 3,830 3,399 Liability-classified awards Market based RSUs 2,498 6,306 2,712 Performance based RSUs 258 1,814 963 Time vested RSUs 633 1,040 357 Dividend equivalent units 675 740 532 Total liability-classified award expense, net of forfeitures 4,064 9,900 4,564 Total stock-based compensation expense, net of forfeitures $ 9,362 $ 13,730 $ 7,963
Summary of equity and liability classified award activity	The following table summarizes equity-classified award activity for the years ended December 31, 2020, 2019, and 2018 (shares in thousands): 2020 2019 2018 Shares Weighted Average Fair Market Value at Grant Shares Weighted Average Fair Market Value at Grant Shares Weighted Average Fair Market Value at Grant Shares unvested at beginning of the year 141 $34.81 148 $33.08 139 $31.72 Granted 173 $44.13 66 $35.64 78 $34.04 Vested (82) $34.69 (72) $34.09 (64) $31.32 Forfeited (11) $41.10 (1) $34.46 (5) $32.88 Shares unvested at end of year 221 $41.90 141 $34.81 148 $33.08 The following table summarizes the Company's liability-classified award activity during the years ended December 31, 2020, 2019, and 2018 (shares in thousands): 2020 2019 2018 Shares Shares Shares Shares unvested at beginning of the year 316 276 262 Granted — 136 117 Vested (172) (95) (94) Forfeited (9) (1) (9) Shares unvested at end of year 135 316 276
Summary of valuation assumptions	The Monte Carlo valuation used to determine the grant date fair value of the equity-classified Market-based RSUs included the following assumptions for those RSUs granted in 2020: 2020 Volatility (1) 18.00 % Risk-free rate (2) 1.34 % Stock beta (3) 1.04 % (1) Based on historical volatility over three years using daily stock price. (2) Reflects the yield on three-year Treasury bonds. (3) Betas are calculated with up to three years of daily stock price data.
Summary of stock options activity	The following is a summary of stock option activity for the years ended December 31, 2020, 2019, and 2018 (options in thousands): 2020 2019 2018 Number of Options Weighted Average Exercise Price Per Option Number of Options Weighted Average Exercise Price Per Option Number of Options Weighted Average Exercise Price Per Option Outstanding at beginning of year 67 $23.13 114 $24.00 232 $26.36 Exercised (37) $21.28 (42) $25.59 (114) $26.40 Forfeited/Expired (2) $22.76 (5) $25.32 (4) $74.88 Outstanding at end of year 28 $25.55 67 $23.13 114 $24.00

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Difference between income tax benefit (provision) and the amount computed by applying the statutory federal income tax rate to income before taxes	The net income tax benefit differs from the amount computed by applying the statutory federal income tax rate to CTRS' income before taxes follows ($ in thousands): 2020 2019 2018 Amount Rate Amount Rate Amount Rate Federal income tax benefit (expenses) $ 125 21 % $ (65) (21) % $ 143 21 % State income tax benefit (expense), net of federal income tax effect 24 4 (12) (4) 27 4 Deferred tax adjustment 21 4 127 41 — — Excess tax benefits of capital losses 404 68 — — — — Valuation allowance (586) (98) (45) (15) (174) (26) Increase in book revenue allowance (89) (15) — — — — Other 101 16 (5) (1) 4 1 Benefit applicable to net income (loss) $ — — % $ — — % $ — — %
Tax effect of significant temporary differences representing deferred tax assets and liabilities	The tax effect of significant temporary differences representing deferred tax assets and liabilities of CTRS as of December 31, 2020 and 2019 are as follows (in thousands): 2020 2019 Income from unconsolidated joint ventures $ 32 $ 27 Federal and state tax net operating loss carryforwards 696 702 Federal and state tax capital loss carryforwards 582 118 Other asset 104 — Gross deferred tax asset 1,414 847 Other liability — (19) Net deferred tax asset 1,414 828 Valuation allowance (1,414) (828) Net deferred tax asset after valuation allowance $ — $ —

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per share	The following table sets forth the computation of the basic and diluted earnings per share of the Company's consolidated statements of operations for the years ended December 31, 2020, 2019 and 2018 (in thousands, except per share amounts): Year Ended December 31 2020 2019 2018 Earnings per common share - basic: Numerator: Net income $ 238,114 $ 152,683 $ 80,765 Net income attributable to noncontrolling interests in CPLP (315) (1,952) (1,345) Net income attributable to other noncontrolling interests (521) (313) (256) Net income available for common stockholders $ 237,278 $ 150,418 $ 79,164 Denominator: Weighted average common shares - basic 148,277 128,060 105,076 Net income per common share - basic $ 1.60 $ 1.17 $ 0.75 Earnings per common share - diluted: Numerator: Net income $ 238,114 $ 152,683 $ 80,765 Net income attributable to other noncontrolling interests (521) (313) (256) Net income available for common stockholders before net income attributable to noncontrolling interests in CPLP $ 237,593 $ 152,370 $ 80,509 Denominator: Weighted average common shares - basic 148,277 128,060 105,076 Add: Potential dilutive common shares - stock options 8 27 48 Potential dilutive restrictive stock units - RSUs, less shares assumed purchased at market price 54 — — Weighted average units of CPLP convertible into common shares 297 1,744 1,744 Weighted average common shares - diluted 148,636 129,831 106,868 Net income per common share - diluted $ 1.60 $ 1.17 $ 0.75

Consolidated Statements of Ca_3

Consolidated Statements of Cash Flows - Supplemental Information (Tables)	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental information related to cash flows	Supplemental information related to cash flows, including significant non-cash activity affecting the consolidated statements of cash flows, for the years ended December 31, 2020, 2019, and 2018 is as follows (in thousands): 2020 2019 2018 Interest paid, net of amounts capitalized $ 62,641 $ 38,062 $ 43,166 Income taxes paid (1) 343 — — Non-Cash Transactions: Transfer from projects under development to operating properties 443,932 — 325,490 Transfer from operating properties and related liabilities to assets and liabilities of real estate assets held for sale 188,378 318,516 — Common stock dividends declared and accrued 44,681 42,559 27,326 Change in accrued property acquisition, development, and tenant asset expenditures (25,745) 4,891 (18,104) Transfer from land held and other assets to projects under development 22,771 — — Non-cash assets and liabilities assumed in TIER transaction — 1,512,373 — Ground lease right-of-use assets and associated liabilities — 56,294 — Transfer from investment in unconsolidated joint ventures to operating properties — 50,781 — Non-cash consideration for property acquisition — 10,071 — Cumulative effect of change in accounting principle — — 22,329 Transfer from investment in unconsolidated joint ventures to projects under development — — 7,025
Reconciliation of cash, cash equivalents, and restricted cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash recorded on the balance sheet to cash, cash equivalents, and restricted cash in the statements of cash flows (in thousands): Year Ended December 31, 2020 2019 2018 Cash and cash equivalents $ 4,290 $ 15,603 $ 2,547 Restricted cash 1,848 2,005 148 Total cash, cash equivalents, and restricted cash $ 6,138 $ 17,608 $ 2,695
Reconciliation of cash, cash equivalents, and restricted cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash recorded on the balance sheet to cash, cash equivalents, and restricted cash in the statements of cash flows (in thousands): Year Ended December 31, 2020 2019 2018 Cash and cash equivalents $ 4,290 $ 15,603 $ 2,547 Restricted cash 1,848 2,005 148 Total cash, cash equivalents, and restricted cash $ 6,138 $ 17,608 $ 2,695

Reportable Segments (Tables)

Reportable Segments (Tables)	12 Months Ended
	Dec. 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 years ended December 31, 2020, 2019, and 2018 are as follows (in thousands): Year Ended December 31, 2020 Office Mixed-Use Total Revenues: Atlanta $ 255,594 $ 602 $ 256,196 Austin 210,229 — 210,229 Charlotte 96,537 — 96,537 Dallas 18,143 — 18,143 Phoenix 50,671 — 50,671 Tampa 54,261 — 54,261 Other 59,285 4,895 64,180 Total segment revenues 744,720 5,497 750,217 Less: Company's share of rental property revenues from unconsolidated joint ventures (22,837) (5,497) (28,334) Total rental property revenues $ 721,883 $ — $ 721,883 Year Ended December 31, 2019 Office Mixed-Use Total Revenues: Atlanta $ 242,209 $ 8 $ 242,217 Austin 160,196 — 160,196 Charlotte 120,214 — 120,214 Dallas 9,421 — 9,421 Phoenix 51,586 — 51,586 Tampa 54,216 — 54,216 Other 38,732 4,630 43,362 Total segment revenues 676,574 4,638 681,212 Less: Company's share of rental property revenues from unconsolidated joint ventures (47,823) (4,638) (52,461) Total rental property revenues $ 628,751 $ — $ 628,751 Year Ended December 31, 2018 Office Mixed-Use Total Revenues: Atlanta $ 206,692 $ — $ 206,692 Austin 104,817 — 104,817 Charlotte 92,398 — 92,398 Phoenix 51,238 — 51,238 Tampa 49,822 — 49,822 Other 2,207 3,724 5,931 Total segment revenues 507,174 3,724 510,898 Less: Company's share of rental property revenues from unconsolidated joint ventures (43,773) (3,724) (47,497) Total rental property revenues $ 463,401 $ — $ 463,401 NOI by reportable segment for the years ended December 31, 2020, 2019, and 2018 are as follows (in thousands): Year Ended December 31, 2020 Office Mixed-Use Total Net Operating Income: Atlanta $ 172,588 $ (49) $ 172,539 Austin 125,215 — 125,215 Charlotte 65,203 — 65,203 Dallas 14,586 — 14,586 Phoenix 37,358 — 37,358 Tampa 33,440 — 33,440 Other 34,346 3,347 37,693 Total Net Operating Income $ 482,736 $ 3,298 $ 486,034 Year Ended December 31, 2019 Office Mixed-Use Total Net Operating Income: Atlanta $ 158,093 $ (48) $ 158,045 Austin 93,311 — 93,311 Charlotte 77,082 — 77,082 Dallas 7,473 — 7,473 Phoenix 37,247 — 37,247 Tampa 33,586 — 33,586 Other 21,939 3,107 25,046 Total Net Operating Income $ 428,731 $ 3,059 $ 431,790 Year Ended December 31, 2018 Office Mixed-Use Total Net Operating Income: Atlanta $ 131,564 $ — $ 131,564 Charlotte 62,812 — 62,812 Austin 60,474 — 60,474 Phoenix 36,875 — 36,875 Tampa 30,514 — 30,514 Other 1,581 2,243 3,824 Total Net Operating Income $ 323,820 $ 2,243 $ 326,063 The following reconciles Net Income to Net Operating Income for each of the periods presented (in thousands): Year Ended December 31, 2020 2019 2018 Net income $ 238,114 $ 152,683 $ 80,765 Net operating income from unconsolidated joint ventures 18,836 32,413 28,888 Fee income (18,226) (28,518) (10,089) Termination fee income (3,835) (7,228) (1,548) Other income (231) (246) (1,722) Reimbursed expenses 1,580 4,004 3,782 General and administrative expenses 27,034 37,007 22,040 Interest expense 60,605 53,963 39,430 Impairment 14,829 — — Depreciation and amortization 288,648 257,149 181,382 Transaction costs 428 52,881 248 Other expenses 2,091 1,109 556 Gain on extinguishment of debt — — (8) Income from unconsolidated joint ventures (7,947) (12,666) (12,224) Gain on sale of investment in unconsolidated joint ventures, net (45,767) — — Gain on sale of investment properties (90,125) (110,761) (5,437) Net Operating Income $ 486,034 $ 431,790 $ 326,063

Description of Business and B_2

Description of Business and Basis of Presentation - Description of Business (Details) ft² in Thousands	12 Months Ended
	Dec. 31, 2020ft²
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Distribution of taxable income to qualify as REIT, percentage	100.00%
Company's portfolio of real estate assets - Office space (square feet)	19,700
Company's portfolio of real estate assets - Retail space (square feet)	310
Cousins Properties LP
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of partnership units owned by the Company	99.00%

Description of Business and B_3

Description of Business and Basis of Presentation - Basis of Presentation (Details) $ in Thousands	Jun. 14, 2019shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares	Jun. 15, 2019shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reverse stock split ratio	0.25
Common stock, shares authorized (in shares) | shares	175,000,000	300,000,000	300,000,000	300,000,000
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Total assets		$ 7,107,398	$ 7,151,447
Liabilities		2,611,860	$ 2,723,612
Variable Interest Entity, Primary Beneficiary
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Total assets		210,200
Liabilities		$ 209,700

Significant Accounting Polici_3

Significant Accounting Policies - Cost Capitalization (Details)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Period in which the company capitalizes interest, real estate taxes and certain operating expenses on the unoccupied portion of recently completed properties, beginning with the date it is substantially complete (percent)	90.00%
Period in which the company capitalizes interest, real estate taxes and certain operating expenses on the unoccupied portion of recently completed properties, beginning with the date it is substantially complete (in years)	1 year

Significant Accounting Polici_4

Significant Accounting Policies - Depreciation and Amortization (Details)	12 Months Ended
	Dec. 31, 2020
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Useful life	30 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Useful life	42 years
Furniture, Fixtures and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Furniture, Fixtures and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	5 years

Significant Accounting Polici_5

Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue from External Customer [Line Items]
Deferred income	$ 62,319	$ 52,269
Revenues	740,340	657,515	$ 475,212
Tenant Funded Improvements
Revenue from External Customer [Line Items]
Deferred income	31,600	17,800
Tenants Expenses
Revenue from External Customer [Line Items]
Revenues	$ 142,500	$ 122,400	$ 79,800

Transactions With Tier Reit, _3

Transactions With Tier Reit, Inc. - Additional Information (Details) $ in Thousands, shares in Millions	Jun. 14, 2019USD ($)shares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Business Acquisition [Line Items]
Reverse stock split ratio	0.25
TIER
Business Acquisition [Line Items]
Stock conversation ratio	2.98
Fair value of assets acquired and liabilities assumed	$ 1,600,000
Acquisition expenses		$ 428	$ 52,900
TIER REIT, Inc.
Business Acquisition [Line Items]
Number of shares issued | shares	166

Transactions With Tier Reit, _4

Transactions With Tier Reit, Inc. - Purchase Price Allocation (Details) - TIER $ in Thousands	Mar. 25, 2019USD ($)
Business Acquisition [Line Items]
Real estate assets	$ 2,202,073
Real estate assets held for sale	20,835
Cash and cash equivalents	84,042
Restricted cash	1,947
Notes and other receivables	8,278
Investment in unconsolidated joint ventures	331
Intangible assets	141,184
Other assets	10,040
Total assets acquired	2,468,730
Notes payable	747,549
Accounts payable and accrued expenses	53,321
Deferred income	8,388
Intangible liabilities	47,988
Other liabilities	7,793
Nonredeemable noncontrolling interests	5,329
Total liabilities acquired	870,368
Total purchase price	$ 1,598,362

Transactions With Tier Reit, _5

Transactions With Tier Reit, Inc. - Pro Forma Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Business Combinations [Abstract]
Revenues	$ 750,080	$ 702,463
Net income	232,136	28,064
Net income available to common stockholders	$ 229,503	$ 27,742

Transactions with Norfolk Sou_2

Transactions with Norfolk Southern Railway Company - Additional Information (Details) - USD ($)	Mar. 01, 2019	Dec. 31, 2020	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		$ 435,833,000	$ 62,667,000	$ 372,000
Total Assets		7,107,398,000	7,151,447,000
Contract price that is expected to be recognized as revenue	$ 52,300,000
Deferred income		62,319,000	52,269,000
NS
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue recognized		14,900,000	21,400,000
Deferred income		$ 5,700,000	11,300,000
1200 Peachtree
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total 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 | 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 on 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 - Acquisitions (Det

Real Estate - Acquisitions (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2020USD ($)a	Dec. 31, 2020USD ($)a	Dec. 31, 2019USD ($)
The RailYard
Business Acquisition [Line Items]
Payments to acquire businesses, gross		$ 201,300
Tangible assets:
Operating properties		201,153
Tangible assets		201,153
Intangible assets:
Total intangible assets		9,289
Intangible liabilities:
Total intangible liabilities		(9,129)
Total net assets acquired		201,313
The RailYard | In-place leases
Intangible assets:
Total intangible assets		8,850
Intangible liabilities:
Total intangible liabilities		(9,129)
The RailYard | Above market leases
Intangible assets:
Total intangible assets		439
Parking Garage In Charlotte, North Carolina
Business Acquisition [Line Items]
Payments to acquire businesses, gross		$ 85,300
Area of property | a	1,550	1,550
South End Submarket Of Charlotte Land Purchase, 3.4 Acres
Business Acquisition [Line Items]
Payments to acquire businesses, gross	$ 28,100
Area of property | a	3.4	3.4
South End Submarket Of Charlotte Land Purchase, 2.4 Acres
Business Acquisition [Line Items]
Payments to acquire businesses, gross	$ 18,800
Area of property | a	2.4	2.4
1200 Peachtree
Tangible assets:
Building and improvements			$ 62,836
Land and improvements			19,495
Tangible assets			82,331
Intangible assets:
Total intangible assets			9,969
Intangible liabilities:
Total intangible liabilities			0
Total net assets acquired			92,300
1200 Peachtree | In-place leases
Intangible assets:
Total intangible assets			9,969
Intangible liabilities:
Total intangible liabilities			0
1200 Peachtree | Above market leases
Intangible assets:
Total intangible assets			0
Terminus
Tangible assets:
Building and improvements			410,826
Land and improvements			49,345
Tangible assets			460,171
Intangible assets:
Total intangible assets			31,867
Intangible liabilities:
Total intangible liabilities			(4,745)
Total net assets acquired			487,293
Terminus | In-place leases
Intangible assets:
Total intangible assets			24,674
Intangible liabilities:
Total intangible liabilities			(4,745)
Terminus | Above market leases
Intangible assets:
Total intangible assets			$ 7,193

Real Estate - Dispositions (Det

Real Estate - Dispositions (Details) - Discontinued Operations, Disposed of by Sale ft² in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2019USD ($)a	Dec. 31, 2020USD ($)ft²property	Dec. 31, 2019property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | property		2	0
Gain on sale of property		$ 90,300
Tax effect of discontinued operation		$ 459
Hearst Tower
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square Feet | ft²		966
Sales Price		$ 455,500
Woodcrest
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square Feet | ft²		386
Sales Price		$ 25,300
Downtown Atlanta, Georgia
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square Feet | a	8
Sales Price	$ 13,300
Gain on sale of property	$ 13,100

Real Estate - Assets and Liabil

Real Estate - Assets and Liabilities Held-for-sale (Details) - Held-for-sale - Woodcrest and Hearst Tower - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Real estate assets and other assets held for sale
Operating properties, net of accumulated depreciation of $8,123 and $44,478 in 2020 and 2019, respectively	$ 106,864	$ 340,171
Notes and accounts receivable	439	5,520
Deferred rents receivable	2,480	5,745
Intangible assets, net of accumulated amortization of $6,065 and $16,615 in 2020 and 2019, respectively	15,830	8,657
Other assets	133	489
Total real estate assets and other assets held for sale	125,746	360,582
Liabilities of real estate assets held for sale
Accounts payable and accrued expenses	7,399	12,497
Deferred income	44	2,638
Intangible liabilities, net of accumulated amortization of $1,205 and $7,771 in 2020 and 2019, respectively	3,014	5,471
Other liabilities	2,149	625
Total liabilities of real estate assets held for sale	12,606	21,231
Operating properties, net of accumulated depreciation	8,123	44,478
Intangible assets, net of accumulated amortization	6,065	16,615
Intangible liabilities, net of accumulated amortization	$ 1,205	$ 7,771

Real Estate - Impairment (Detai

Real Estate - Impairment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Impairment	$ 14,829	$ 0	$ 0

Leases - Additional Information

Leases - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)parcelproperty	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Leases [Abstract]
Number of properties subject to operating lease | property	5
Operating lease, weighted average remaining term	71 years
Number of properties subject to finance lease | property	1
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:RentalProperties us-gaap:DevelopmentInProcess cuz:LandHeld
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	cuz:LandHeld
Finance lease, weighted average remaining term	5 years
Operating ground leases, right-of-use asset	$ 55,800,000
Finance ground leases, right-of-use asset	3,700,000
Operating ground leases, liability	58,619,000	$ 59,379,000
Finance ground leases, liability	$ 3,555,000	$ 9,730,000
Finance Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilities	us-gaap:OtherLiabilities
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilities	us-gaap:OtherLiabilities
Operating lease, weighted average discount rate	4.50%
Finance lease, weighted average discount rate	4.50%
Operating lease expense	$ 4,300,000	$ 3,900,000
Operating lease expense			$ 3,500,000
Variable lease expense	0
Interest expense related to finance lease	474,000
Operating lease payments	$ 3,500,000
Number of parcels of land purchased | parcel	1
Land purchased	$ 6,400,000

Leases - Future Minimum Payment

Leases - Future Minimum Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating Ground Leases
Year one	$ 2,959	$ 3,175
Year two	2,672	2,959
Year three	2,614	2,672
Year four	2,497	2,614
Year five	2,517	2,497
Thereafter	197,589	200,107
Total minimum payments	210,848	214,024
Discount	(152,229)	(154,645)
Lease liability	58,619	59,379
Finance Ground Leases
Year one	162	462
Year two	162	6,562
Year three	162	162
Year four	162	162
Year five	3,676	162
Thereafter	0	3,676
Total minimum payments	4,324	11,186
Discount	(769)	(1,456)
Lease liability	$ 3,555	$ 9,730

Notes and Accounts Receivable_2

Notes and Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Notes receivable	$ 151	$ 356
Tenant and other receivables	20,097	23,324
Total notes and accounts receivable	$ 20,248	$ 23,680

Investment in Unconsolidated _3

Investment in Unconsolidated Joint Ventures - Summary of Financial Position (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Feb. 29, 2020	Dec. 31, 2019
SUMMARY OF FINANCIAL POSITION
Total Assets	$ 7,107,398		$ 7,151,447
Total Debt	230,300
Total Equity (Deficit)	4,467,134		4,359,274
Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION
Total Assets	590,853		658,303
Total Debt	230,305		165,039
Total Equity (Deficit)	244,186		354,404
Company's Investment	107,192		114,158
DC Charlotte Plaza LLLP | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION
Total Assets	173,704		179,694
Total Debt	0		0
Total Equity (Deficit)	90,648		90,373
Company's Investment	47,941		48,058
Austin 300 Colorado Project, LP
SUMMARY OF FINANCIAL POSITION
Total Debt	86,800
Austin 300 Colorado Project, LP | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION
Total Assets	165,586		112,630
Total Debt	86,848		21,430
Total Equity (Deficit)	68,567		68,101
Company's Investment	38,488		36,846
AMCO 120 WT Holdings, LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION
Total Assets	85,449		77,377
Total Debt	0		0
Total Equity (Deficit)	84,311		70,696
Company's Investment	15,735		13,362
Carolina Square Holdings LP | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION
Total Assets	118,616		114,483
Total Debt	77,034		75,662
Total Equity (Deficit)	21,888		25,184
Company's Investment	12,430		14,414
HICO Victory Center LP | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION
Total Assets	16,544		16,045
Total Debt	0		0
Total Equity (Deficit)	15,709		15,353
Company's Investment	10,595		10,373
Charlotte Gateway Village, LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION
Total Assets	0		109,675
Total Debt	0		0
Total Equity (Deficit)	0		106,651
Company's Investment	0		6,718
Wildwood Associates
SUMMARY OF FINANCIAL POSITION
Company's Investment		$ 520,000
Wildwood Associates | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION
Total Assets	0		11,061
Total Debt	0		0
Total Equity (Deficit)	0		10,978
Company's Investment	0		(521)
Crawford Long - CPI, LLC
SUMMARY OF FINANCIAL POSITION
Total Debt	66,400
Crawford Long - CPI, LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION
Total Assets	29,641		28,459
Total Debt	66,423		67,947
Total Equity (Deficit)	(38,253)		(40,250)
Company's Investment	(18,289)		(19,205)
Other | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION
Total Assets	1,313		8,879
Total Debt	0		0
Total Equity (Deficit)	1,316		7,318
Company's Investment	$ 292		$ 4,113

Investment in Unconsolidated _4

Investment in Unconsolidated Joint Ventures - Summary of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SUMMARY OF OPERATIONS
Total rental property revenues	$ 740,340	$ 657,515	$ 475,212
Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF OPERATIONS
Total rental property revenues	62,859	104,471	95,515
Net Income (Loss)	21,409	25,685	15,352
Company's Share of Net  Income (Loss)	7,947	12,666	12,224
Charlotte Gateway Village, LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF OPERATIONS
Total rental property revenues	6,692	27,708	26,932
Net Income (Loss)	3,202	10,285	10,285
Company's Share of Net  Income (Loss)	1,658	5,143	5,143
DC Charlotte Plaza LLLP | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF OPERATIONS
Total rental property revenues	20,439	15,636	0
Net Income (Loss)	7,272	5,894	0
Company's Share of Net  Income (Loss)	3,380	2,947	(1)
Terminus Office Holdings LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF OPERATIONS
Total rental property revenues	0	34,964	44,429
Net Income (Loss)	0	4,962	5,506
Company's Share of Net  Income (Loss)	(23)	2,381	2,755
Crawford Long - CPI, LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF OPERATIONS
Total rental property revenues	12,650	12,664	12,383
Net Income (Loss)	3,797	3,897	3,446
Company's Share of Net  Income (Loss)	1,808	1,866	1,641
HICO Victory Center LP | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF OPERATIONS
Total rental property revenues	356	513	400
Net Income (Loss)	356	513	400
Company's Share of Net  Income (Loss)	178	276	219
Carolina Square Holdings LP | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF OPERATIONS
Total rental property revenues	14,581	12,344	10,686
Net Income (Loss)	3,061	470	(169)
Company's Share of Net  Income (Loss)	1,472	133	(275)
Austin 300 Colorado Project, LP | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF OPERATIONS
Total rental property revenues	841	422	487
Net Income (Loss)	466	199	220
Company's Share of Net  Income (Loss)	233	100	110
Wildwood Associates | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF OPERATIONS
Total rental property revenues	0	0	0
Net Income (Loss)	(9)	(100)	(1,140)
Company's Share of Net  Income (Loss)	14	(50)	2,723
AMCO 120 WT Holdings, LLC | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF OPERATIONS
Total rental property revenues	3,000	40	0
Net Income (Loss)	2,740	(341)	38
Company's Share of Net  Income (Loss)	(552)	(68)	0
Other | Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF OPERATIONS
Total rental property revenues	4,300	180	198
Net Income (Loss)	524	(94)	(3,234)
Company's Share of Net  Income (Loss)	$ (221)	$ (62)	$ (91)

Investment in Unconsolidated _5

Investment in Unconsolidated Joint Ventures - DC Charlotte Plaza LLLP (Details) - DC Charlotte Plaza LLLP ft² in Thousands, $ in Millions	Dec. 31, 2020USD ($)ft²
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50.00%
Square footage of real estate property (square feet) | ft²	281
Maximum required capital contribution	$ 46
Cash balance of joint venture	$ 3
DFA
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50.00%

Investment in Unconsolidated _6

Investment in Unconsolidated Joint Ventures - Austin 300 Colorado Project, LP (Details) ft² in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)ft²
Schedule of Equity Method Investments [Line Items]
Aggregate outstanding indebtedness to third parties	$ 230,300,000
Austin 300 Colorado Project, LP
Schedule of Equity Method Investments [Line Items]
Square footage of real estate property (square feet) | ft²	358
Ownership interest percentage	50.00%
Aggregate outstanding indebtedness to third parties	$ 86,800,000
Cash balance of joint venture	$ 2,900,000
Austin 300 Colorado Project, LP | LIBOR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate (percent)	2.25%
Austin 300 Colorado Project, LP | 3CB
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	34.50%
Austin 300 Colorado Project, LP | 3CRR
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	15.50%
Construction Loans | Austin 300 Colorado Project, LP
Schedule of Equity Method Investments [Line Items]
Maximum borrowing capacity	$ 126,000,000

Investment in Unconsolidated _7

Investment in Unconsolidated Joint Ventures - Carolina Square Holdings LP (Details) ft² in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)ft²apartment_unit	Jan. 31, 2021USD ($)
Schedule of Equity Method Investments [Line Items]
Aggregate outstanding indebtedness	$ 230.3
Carolina Square Holdings LP
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50.00%
Number of apartment units | apartment_unit	246
Maximum percentage guaranteed under construction loan	12.50%
Cash balance of joint venture	$ 4.8
Carolina Square Holdings LP | Subsequent Event
Schedule of Equity Method Investments [Line Items]
Aggregate outstanding indebtedness		$ 77
Carolina Square Holdings LP | LIBOR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate (percent)	1.25%
Carolina Square Holdings LP | Office Space
Schedule of Equity Method Investments [Line Items]
Square footage of real estate property (square feet) | ft²	158
Carolina Square Holdings LP | Retail Space
Schedule of Equity Method Investments [Line Items]
Square footage of real estate property (square feet) | ft²	44
Carolina Square Holdings LP | Northwood Ravin
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50.00%

Investment in Unconsolidated _8

Investment in Unconsolidated Joint Ventures - AMCO 120 WT Holdings, LLC (Details) - AMCO 120 WT Holdings, LLC ft² in Thousands, $ in Thousands	Dec. 31, 2020USD ($)ft²apartment_unit
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	20.00%
Number of apartment units | apartment_unit	330
Cash balance of joint venture | $	$ 572,000
Office Space
Schedule of Equity Method Investments [Line Items]
Square footage of real estate property (square feet)	33
Retail Space
Schedule of Equity Method Investments [Line Items]
Square footage of real estate property (square feet)	19
AMLI Residential
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	80.00%

Investment in Unconsolidated _9

Investment in Unconsolidated Joint Ventures - HICO Victory Center LP (Details) - HICO Victory Center LP $ in Thousands	Dec. 31, 2020USD ($)
Schedule of Equity Method Investments [Line Items]
Land funding requirement (percent)	75.00%
Cash balance of joint venture	$ 697,000
Minimum
Schedule of Equity Method Investments [Line Items]
Future ownership percentage of partner in joint venture	90.00%
Hines
Schedule of Equity Method Investments [Line Items]
Land funding requirement (percent)	25.00%
Hines | Maximum
Schedule of Equity Method Investments [Line Items]
Future ownership percentage of partner in joint venture	10.00%

Investment in Unconsolidated_10

Investment in Unconsolidated Joint Ventures - Charlotte Gateway Village, LLC (Details) $ in Thousands, ft² in Millions	1 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)ft²	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Combined gross sales price		$ 435,833	$ 62,667	$ 372
Gain on sales of investments in unconsolidated joint ventures		$ 45,767	$ 0	$ 0
Charlotte Gateway Village, LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture		50.00%
Square footage of real estate property (square feet) | ft²		1.1
Combined gross sales price	$ 52,200
Maximum internal rate of return to be achieved	17.00%
Gain on sales of investments in unconsolidated joint ventures	$ 44,600
Tax effect of discontinued operation	$ 227
Charlotte Gateway Village, LLC | BOA
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture		50.00%

Investment in Unconsolidated_11

Investment in Unconsolidated Joint Ventures - Crawford Long—CPI, LLC (Details) ft² in Thousands, $ in Millions	Dec. 31, 2020USD ($)ft²
Schedule of Equity Method Investments [Line Items]
Aggregate outstanding indebtedness	$ 230.3
Crawford Long - CPI, LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50.00%
Square footage of real estate property (square feet) | ft²	358
Aggregate outstanding indebtedness	$ 66.4
Cash balance of joint venture	$ 5.1
Crawford Long - CPI, LLC | Secured Mortgage Note Payable
Schedule of Equity Method Investments [Line Items]
Interest rate on mortgage loan (percent)	3.50%
Crawford Long - CPI, LLC | Emory University
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50.00%

Investment in Unconsolidated_12

Investment in Unconsolidated Joint Ventures - Terminus Office Holdings LLC (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)	Oct. 01, 2019USD ($)
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated joint ventures	$ 125,481	$ 133,884
Terminus Office Holdings LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50.00%
Value of interest in the property			$ 148,000
Investment in unconsolidated joint ventures			$ 503,000
Gain recorded in income from unconsolidated joint ventures	$ 92,800
Terminus Office Holdings LLC | Secured Mortgage Note Payable
Schedule of Equity Method Investments [Line Items]
Weighted average interest rate			50.00%
Terminus Office Holdings LLC | Office Buildings
Schedule of Equity Method Investments [Line Items]
Number of properties owned | property	2
Terminus Office Holdings LLC | JPM
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50.00%

Investment in Unconsolidated_13

Investment in Unconsolidated Joint Ventures - Wildwood Associates (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 29, 2020USD ($)a	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Combined gross sales price		$ 435,833	$ 62,667	$ 372
Gain on sales of investments in unconsolidated joint ventures		$ 45,767	$ 0	$ 0
Wildwood Associates
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture		50.00%
Area of land | a	6.3
Combined gross sales price	$ 900,000
Gain on sales of investments in unconsolidated joint ventures	1,300
Company's investment balance	$ 520,000
Wildwood Associates | IBM
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture		50.00%

Investment in Unconsolidated_14

Investment in Unconsolidated Joint Ventures - Other Joint Ventures (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Combined gross sales price		$ 435,833	$ 62,667	$ 372
Gain on sales of investments in unconsolidated joint ventures		45,767	0	0
Aggregate outstanding indebtedness to third parties	$ 230,300	230,300
Fees earned from unconsolidated joint ventures		$ 2,600	$ 7,100	$ 9,300
Temco Associates, LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50.00%	50.00%
Combined gross sales price	$ 786
Gain on sales of investments in unconsolidated joint ventures	$ 145
Temco Associates, LLC | Forestar
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50.00%	50.00%
CL Realty, L.L.C.
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50.00%	50.00%
Gain on sales of investments in unconsolidated joint ventures	$ 598
Proceeds from unconsolidated joint venture	$ 2,200
CL Realty, L.L.C. | Forestar
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50.00%	50.00%

Intangible Assets - Intangible

Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 1,674	$ 1,674
Total intangible assets	189,164	257,649
In-place leases
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	145,290	202,760
Accumulated amortization	212,413	163,867
Above market leases
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	24,960	35,699
Accumulated amortization	33,548	26,487
Below-market ground leases
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, net	17,240	17,516
Accumulated amortization	$ 1,173	$ 897

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Net amortization expense of intangible assets and liabilities	$ 43.1	$ 45.6	$ 27

Intangible Assets - Intangibles

Intangible Assets - Intangibles - Future Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Future Amortization of Intangible Assets:
Weighted average remaining lease term	10 years
2021	$ 29,946
2022	20,708
2023	16,648
2024	12,053
2025	7,745
Thereafter	30,544
Finite-lived intangibles, net	117,644
Below Market Rents
Future Amortization of Intangible Liabilities:
2021	(14,616)
2022	(11,677)
2023	(10,040)
2024	(8,929)
2025	(8,197)
Thereafter	(14,760)
Finite-lived intangible liabilities, net	$ (68,219)
Weighted average remaining lease term	7 years
Above Market Ground Lease
Future Amortization of Intangible Liabilities:
2021	$ (46)
2022	(46)
2023	(46)
2024	(46)
2025	(46)
Thereafter	(1,397)
Finite-lived intangible liabilities, net	$ (1,627)
Weighted average remaining lease term	35 years
Below Market Ground Lease
Future Amortization of Intangible Assets:
2021	$ 276
2022	276
2023	276
2024	276
2025	276
Thereafter	15,860
Finite-lived intangible assets, net	$ 17,240	$ 17,516
Weighted average remaining lease term	64 years
Above Market Rents
Future Amortization of Intangible Assets:
2021	$ 5,927
2022	4,807
2023	3,921
2024	3,063
2025	2,011
Thereafter	5,231
Finite-lived intangible assets, net	$ 24,960	35,699
Weighted average remaining lease term	7 years
In Place Leases
Future Amortization of Intangible Assets:
2021	$ 38,405
2022	27,348
2023	22,537
2024	17,689
2025	13,701
Thereafter	25,610
Finite-lived intangible assets, net	$ 145,290	$ 202,760
Weighted average remaining lease term	6 years

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Predevelopment costs and earnest money	$ 17,841	$ 25,586
Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $32,582 and $29,131 in 2020 and 2019, respectively	17,211	17,791
Prepaid expenses and other assets	6,095	5,924
Lease inducements, net of accumulated amortization of $3,316 and $2,333 in 2020 and 2019, respectively	5,771	5,632
Line of credit deferred financing costs, net of accumulated amortization of $4,461 and $2,952 in 2020 and 2019, respectively	3,021	4,516
Total other assets	49,939	59,449
Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, accumulated depreciation	32,582	29,131
Lease inducements, accumulated amortization	3,316	2,333
Line of credit deferred financing costs, accumulated amortization	$ 4,461	$ 2,952

Notes Payable - Terms of Notes

Notes Payable - Terms of Notes Payable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Mar. 25, 2019	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term debt	$ 2,160,293	$ 2,218,093
Unamortized premium	7,574	11,239
Unamortized loan costs	(5,148)	(6,357)
Total Notes Payable	$ 2,162,719	2,222,975
Weighted average maturity period of notes payable outstanding	4 years 7 months 6 days
Credit Facility, Unsecured
Debt Instrument [Line Items]
Interest Rate	1.19%
Long-term debt	$ 232,400	251,500
Term Loan, Unsecured
Debt Instrument [Line Items]
Interest Rate	1.34%
Long-term debt	$ 250,000	250,000
Senior Notes, Unsecured
Debt Instrument [Line Items]
Long-term debt	$ 1,482,400	1,501,500
Senior Notes, Unsecured | 3.95% Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	3.95%
Long-term debt	$ 275,000	275,000
Senior Notes, Unsecured | 3.91% Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	3.91%			3.91%
Long-term debt	$ 250,000	250,000
Senior Notes, Unsecured | 3.86% Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	3.86%
Long-term debt	$ 250,000	250,000
Senior Notes, Unsecured | 3.78% Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	3.78%
Long-term debt	$ 125,000	125,000
Senior Notes, Unsecured | 4.09% Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	4.09%			4.09%
Long-term debt	$ 100,000	100,000
Mortgage Debt
Debt Instrument [Line Items]
Long-term debt	677,893	716,593
Total Notes Payable	$ 677,900
Mortgage Debt | Fifth Third Center
Debt Instrument [Line Items]
Interest Rate	3.37%
Long-term debt	$ 137,057	140,332
Mortgage Debt | Terminus 100
Debt Instrument [Line Items]
Interest Rate	5.25%
Long-term debt	$ 114,997	118,146
Mortgage Debt | Colorado Tower
Debt Instrument [Line Items]
Interest Rate	3.45%
Long-term debt	$ 114,660	117,085
Mortgage Debt | Promenade
Debt Instrument [Line Items]
Interest Rate	4.27%
Long-term debt	$ 92,593	95,986
Mortgage Debt | 816 Congress
Debt Instrument [Line Items]
Interest Rate	3.75%
Long-term debt	$ 78,232	79,987
Mortgage Debt | Terminus 200
Debt Instrument [Line Items]
Interest Rate	3.79%
Long-term debt	$ 74,354	76,079
Mortgage Debt | Legacy Union One
Debt Instrument [Line Items]
Interest Rate			4.24%
Long-term debt		66,000	$ 66,000
Mortgage Debt | Meridian Mark Plaza
Debt Instrument [Line Items]
Interest Rate	6.00%
Long-term debt	$ 0	$ 22,978

Notes Payable - Credit Facility

Notes Payable - Credit Facility (Details) - Credit Facility	12 Months Ended
	Dec. 31, 2020USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 1,000,000,000
Fixed charge coverage ratio	1.50
Remaining borrowing capacity	$ 767,600,000
Minimum
Line of Credit Facility [Line Items]
Unencumbered interest coverage ratio	1.75
Maximum
Line of Credit Facility [Line Items]
Secured leverage ratio (percent)	40.00%
Leverage ratio (percent)	60.00%
LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	1.05%
LIBOR | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	1.05%
LIBOR | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	1.45%
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%
Base Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	0.10%
Base Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	0.45%

Notes Payable - Term Loan (Deta

Notes Payable - Term Loan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Unsecured term loan	$ 2,160,293	$ 2,218,093
Term Loan
Debt Instrument [Line Items]
Unsecured term loan	$ 250,000	$ 250,000
Term Loan | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.20%
Term Loan | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.20%
Term Loan | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.70%
Term Loan | Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.50%
Term Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	1.00%
Term Loan | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.00%
Term Loan | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (percent)	0.75%

Notes Payable - Unsecured Senio

Notes Payable - Unsecured Senior Notes (Details) - Senior Notes, Unsecured	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019USD ($)tranche	Dec. 31, 2017USD ($)tranche
Debt Instrument [Line Items]
Debt amount			$ 350,000,000
Number of tranches | tranche			2
Fixed charge coverage ratio	1.50
Minimum
Debt Instrument [Line Items]
Unencumbered interest coverage ratio	1.75
Maximum
Debt Instrument [Line Items]
Leverage ratio (percent)	60.00%
Secured leverage ratio (percent)	40.00%
3.78% Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest rate	3.78%
3.86% Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest rate	3.86%
3.95% Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest rate	3.95%
4.09% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount			$ 100,000,000
Interest rate	4.09%		4.09%
3.91% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount			$ 250,000,000
Interest rate	3.91%		3.91%
Private Placement
Debt Instrument [Line Items]
Debt amount		$ 650,000,000
Number of tranches | tranche		3
Private Placement | 3.78% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount		$ 125,000,000
Interest rate		3.78%
Private Placement | 3.86% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount		$ 250,000,000
Interest rate		3.86%
Private Placement | 3.95% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount		$ 275,000,000
Interest rate		3.95%

Notes Payable - Secured Mortgag

Notes Payable - Secured Mortgage Notes (Details) $ in Thousands	1 Months Ended
	Feb. 29, 2020USD ($)	Dec. 31, 2020USD ($)debt_instrument	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Outstanding amount		$ 2,162,719	$ 2,222,975
Mortgage Debt
Debt Instrument [Line Items]
Outstanding amount		$ 677,900
Number of non-recourse mortgage loans | debt_instrument		7
Assets pledged as security		$ 1,100,000
Mortgage Debt | Meridian Mark Plaza
Debt Instrument [Line Items]
Amount of debt paid	$ 23,000

Notes Payable - Other Debt Info

Notes Payable - Other Debt Information (Details) - USD ($) $ in Billions	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Notes payable, fair value	$ 2.3	$ 2.3

Notes Payable - Interest Expens

Notes Payable - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Total interest incurred	$ 74,929	$ 65,182	$ 44,332
Interest capitalized	(14,324)	(11,219)	(4,902)
Total interest expense	$ 60,605	$ 53,963	$ 39,430

Notes Payable - Debt Maturities

Notes Payable - Debt Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2021	$ 266,368
2022	102,401
2023	485,556
2024	79,087
2025	256,755
Thereafter	970,126
Total Notes Payable	$ 2,160,293	$ 2,218,093

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Ground lease liability	$ 58,619	$ 59,379
Prepaid rent	30,479	33,428
Security deposits	13,098	13,544
Restricted stock unit liability	10,613	16,592
Other liabilities	5,294	11,185
Total other liabilities	$ 118,103	$ 134,128

Commitments and Contingencies (

Commitments and Contingencies (Details)	Dec. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Letters of credit outstanding	$ 0
Outstanding letters of credit and performance bonds	577,000
Future obligations under leases	$ 153,500,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) shares in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020vote$ / sharesshares	Dec. 31, 2020$ / shares	Dec. 31, 2019$ / sharesshares
Class of Stock [Line Items]
Number of shares issued during period	1.7
Number of units redeemed in exchange for common stock (in shares)	1.7
Preferred stock, par value (in usd per share) | $ / shares	$ 1	$ 1	$ 1
Number of votes entitled from each stock held of preferred stock | vote	1
Percentage of restriction on ownership (more than)		3.90%
TIER | Common Stock
Class of Stock [Line Items]
Number of shares issued in merger			41.6

Stockholders' Equity - Distribu

Stockholders' Equity - Distribution of REIT Taxable Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Common and preferred dividends	$ 176,272	$ 142,940	$ 107,167
Dividends treated as taxable compensation	(167)	(161)	(150)
Dividends applied to meet current year REIT distribution requirements	$ 176,105	$ 142,779	$ 107,017

Stockholders' Equity - Tax Stat

Stockholders' Equity - Tax Status of Distributions (Details) - Common Stock - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Total Distributions Per Share (in usd per share)	$ 1.190000	$ 1.130000	$ 1.020000
Unrecaptured Section 1250 Gain (in usd per share)	0.417166	0	0
Nondividend Distributions (in usd per share)	0	0	0
Section 199A Dividends (in usd per share)		0.983133	1.005584
Section 1061 One Year Amounts Disclosure (in usd per share)	0.320351	0	0
Section 1061 Three Year Amounts Disclosure (in usd per share)	0.320351	0	0
Ordinary Dividends
Class of Stock [Line Items]
Total Distributions Per Share (in usd per share)	0	0.983133	1.005584
Long-Term Capital Gain
Class of Stock [Line Items]
Total Distributions Per Share (in usd per share)	$ 1.190000	$ 0.146867	$ 0.014416

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total rental property revenues		$ 740,340	$ 657,515	$ 475,212
Rental property revenues
Disaggregation of Revenue [Line Items]
Total rental property revenues	$ 721,900	721,883	628,751	463,401
Variable rental revenue		188,100
Variable rental revenue
Disaggregation of Revenue [Line Items]
Total rental property revenues			176,600	119,300
Fees and other
Disaggregation of Revenue [Line Items]
Total rental property revenues		$ 18,500	$ 28,800	$ 11,800

Revenue Recognition - Future Mi

Revenue Recognition - Future Minimum Payments to be Received (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Future minimum rents to be received, after adoption
2021	$ 513,015
2022	489,715
2023	457,250
2024	425,805
2025	378,499
Thereafter	1,390,864
Future minimum rents to be received	$ 3,655,148
Future minimum rents to be received, after adoption
2020		$ 502,147
2021		487,815
2022		438,624
2023		401,363
2024		365,024
Thereafter		1,358,674
Future minimum rents to be received		$ 3,553,647

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense, Net of Forfeitures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	$ 9,362	$ 13,730	$ 7,963
Equity Classified Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	5,298	3,830	3,399
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	2,555	2,468	2,257
Market based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	1,255	0	0
Performance based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	428	0	0
Director grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	1,060	1,362	1,142
Liability-classified awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	4,064	9,900	4,564
Market based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	2,498	6,306	2,712
Performance based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	258	1,814	963
Time vested RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	633	1,040	357
Dividend equivalent units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	$ 675	$ 740	$ 532

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details)	Dec. 31, 2020shares
Share-based Payment Arrangement [Abstract]
Shares authorized under stock option plan (in shares)	3,577,897

Stock-Based Compensation - Equi

Stock-Based Compensation - Equity-Classified Awards Narrative (Details)	12 Months Ended
	Dec. 31, 2020USD ($)awardshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)	28,000	67,000	114,000	232,000
Number of restricted stock units granted (in shares)	0	0	0
Stock-based compensation expense | $	$ 9,362,000	$ 13,730,000	$ 7,963,000
Fair value of options exercisable | $	$ 225,000
Weighted average contractual life of outstanding options (in years)	1 month 6 days
Weighted average contractual life of exercisable options (in years)		7 months 6 days
Equity Classified Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $	$ 2,700,000
Unrecognized compensation cost, period for recognition (in years)	1 year 6 months
Number of restricted stock units granted (in shares)	173,000	66,000	78,000
Fair value of restricted stock that vested | $	$ 3,200,000	$ 2,600,000	$ 2,300,000
Targeted number of non-vested awards (in shares)	97,315
Stock-based compensation expense | $	$ 5,298,000	$ 3,830,000	$ 3,399,000
Equity Classified Awards | Independent Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock units granted (in shares)	34,059	37,166	29,638
Equity Classified Awards | Key Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of award types | award	3
Vesting period (in years)	3 years
Payout range minimum (as a percent)	0.00%
Payout range maximum (as a percent)	200.00%
Equity Classified Awards | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years	3 years	3 years
Number of restricted stock units granted (in shares)	71,421	65,824	78,799
Performance based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $	$ 2,700,000
Unrecognized compensation cost, period for recognition (in years)	2 years 1 month 6 days
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)	28,351
Stock-based compensation expense | $	$ 0	$ 0	$ 0
Number of stock issued during period (in shares)	12,373	10,451

Stock-Based Compensation - Eq_2

Stock-Based Compensation - Equity-Classified Awards (Details) - Equity Classified Awards - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of Shares
Outstanding at beginning of period (in shares)	141	148	139
Granted (in shares)	173	66	78
Vested (in shares)	(82)	(72)	(64)
Forfeited (in shares)	(11)	(1)	(5)
Outstanding at end of period (in shares)	221	141	148
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning of period (in usd per share)	$ 34.81	$ 33.08	$ 31.72
Granted (in usd per share)	44.13	35.64	34.04
Vested (in usd per share)	34.69	34.09	31.32
Forfeited (in usd per share)	41.10	34.46	32.88
Outstanding at end of period (in usd per share)	$ 41.90	$ 34.81	$ 33.08

Stock-Based Compensation - Eq_3

Stock-Based Compensation - Equity-Classified Market-based RSUs (Details) - Equity Classified Awards	12 Months Ended
	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	18.00%
Risk-free rate	1.34%
Stock beta	0.0104

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Option Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number of Options
Outstanding at beginning of period (in shares)	67	114	232
Exercised (in shares)	(37)	(42)	(114)
Forfeited/Expired (in shares)	(2)	(5)	(4)
Outstanding at end of period (in shares)	28	67	114
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in usd per share)	$ 23.13	$ 24	$ 26.36
Exercised (in usd per share)	21.28	25.59	26.40
Forfeited/Expired (in usd per share)	22.76	25.32	74.88
Outstanding at end of period (in usd per share)	$ 25.55	$ 23.13	$ 24

Stock-Based Compensation - Liab

Stock-Based Compensation - Liability-Classified Awards Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019awardshares	Dec. 31, 2018award
Liability-classified awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Targeted number of units outstanding (in shares) | shares		87,645
Estimate of future expense for all types of RSUs outstanding	$ 2.5
Unrecognized compensation cost, period for recognition (in years)	1 year 4 months 24 days
Total cash paid for vesting and dividend payments	$ 9.9
Liability-classified awards | Key Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of award types | award		3	3
Market based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		3 years	3 years
Performance based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		3 years	3 years
Time vested RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		3 years	3 years

Stock-Based Compensation - Li_2

Stock-Based Compensation - Liability-Classified Award Activity (Details) - Liability-classified awards - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary of all performance-based RSU activity
Outstanding at beginning of period (in shares)	316	276	262
Granted (in shares)	0	136	117
Vested (in shares)	(172)	(95)	(94)
Forfeited (in shares)	(9)	(1)	(9)
Outstanding at end of period (in shares)	135	316	276

Retirement Savings Plan (Detail

Retirement Savings Plan (Details) - USD ($) $ in Thousands	Jan. 01, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Employer contribution matching percentage	3.00%			3.00%
Employee vesting period in the retirement saving plan	2 years		3 years
Company defined contribution plan		$ 1,000	$ 913	$ 647

Income Taxes - Statutory Federa

Income Taxes - Statutory Federal Income Tax Rate (Details) - CTRS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Amount
Federal income tax benefit (expenses)	$ 125	$ (65)	$ 143
State income tax benefit (expense), net of federal income tax effect	24	(12)	27
Deferred tax adjustment	21	127	0
Excess tax benefits of capital losses	404	0	0
Valuation allowance	(586)	(45)	(174)
Increase in book revenue allowance	(89)	0	0
Other	101	(5)	4
Benefit applicable to net income (loss)	$ 0	$ 0	$ 0
Rate
Federal income tax benefit (expenses)	21.00%	21.00%	21.00%
State income tax benefit (expense), net of federal income tax effect	4.00%	4.00%	4.00%
Deferred tax adjustment	4.00%	(41.00%)	0.00%
Excess tax benefits of capital losses	68.00%	0.00%	0.00%
Valuation allowance	(98.00%)	15.00%	(26.00%)
Increase in book revenue allowance	(15.00%)	0.00%	0.00%
Other	16.00%	1.00%	1.00%
Benefit applicable to net income (loss)	0.00%	0.00%	0.00%

Income Taxes - Tax Effect of Si

Income Taxes - Tax Effect of Significant Temporary Differences (Details) - CTRS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Line Items]
Income from unconsolidated joint ventures	$ 32	$ 27
Federal and state tax net operating loss carryforwards	696	702
Federal and state tax capital loss carryforwards	582	118
Other asset	104	0
Gross deferred tax asset	1,414	847
Other liability	0	(19)
Net deferred tax asset	1,414	828
Valuation allowance	(1,414)	(828)
Net deferred tax asset after valuation allowance	$ 0	$ 0

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net income	$ 238,114	$ 152,683	$ 80,765
Net income attributable to noncontrolling interests	(836)	(2,265)	(1,601)
Net income available to common stockholders	$ 237,278	$ 150,418	$ 79,164
Denominator:
Weighted average common shares - basic (in shares)	148,277	128,060	105,076
Net income available to common stockholders (in usd per share)	$ 1.60	$ 1.17	$ 0.75
Numerator:
Net income	$ 238,114	$ 152,683	$ 80,765
Net income attributable to noncontrolling interests	(836)	(2,265)	(1,601)
Net income available for common stockholders before net income attributable to noncontrolling interests in CPLP	$ 237,593	$ 152,370	$ 80,509
Denominator:
Weighted average common shares - basic (in shares)	148,277	128,060	105,076
Add:
Weighted average units of CPLP convertible into common shares (in shares)	297	1,744	1,744
Weighted average common shares - diluted (in shares)	148,636	129,831	106,868
Net income available to common stockholders (in usd per share)	$ 1.60	$ 1.17	$ 0.75
Stock Options
Add:
Potential dilutive common shares - stock options (in shares)	8	27	48
RSUs
Add:
Potential dilutive common shares - stock options (in shares)	54	0	0
CPLP
Numerator:
Net income attributable to noncontrolling interests	$ (315)	$ (1,952)	$ (1,345)
Numerator:
Net income attributable to noncontrolling interests	(315)	(1,952)	(1,345)
Other Noncontrolling Interests
Numerator:
Net income attributable to noncontrolling interests	(521)	(313)	(256)
Numerator:
Net income attributable to noncontrolling interests	$ (521)	$ (313)	$ (256)

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock options (in shares)	0	0	0

Consolidated Statements of Ca_4

Consolidated Statements of Cash Flows - Supplemental Information Supplemental Cash Flows Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Interest paid, net of amounts capitalized	$ 62,641	$ 38,062	$ 43,166
Income taxes paid	343	0	0
Non-Cash Transactions:
Transfer from projects under development to operating properties	443,932	0	325,490
Common stock dividends declared and accrued	44,681	42,559	27,326
Change in accrued property acquisition, development, and tenant asset expenditures	(25,745)	4,891	(18,104)
Transfer from land held and other assets to projects under development	22,771	0	0
Non-cash assets and liabilities assumed in TIER transaction	0	1,512,373	0
Transfer from operating properties and related liabilities to assets and liabilities of real estate assets held for sale	188,378	318,516	0
Ground lease right-of-use assets and associated liabilities	0	56,294	0
Transfer from investment in unconsolidated joint ventures to operating properties	0	50,781	0
Non-cash consideration for property acquisition	0	10,071	0
Cumulative effect of change in accounting principle	0	0	22,329
Transfer from investment in unconsolidated joint ventures to projects under development	$ 0	$ 0	$ 7,025

Consolidated Statements of Ca_5

Consolidated Statements of Cash Flows - Supplemental Information Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 4,290	$ 15,603	$ 2,547
Restricted cash	1,848	2,005	148
Total cash, cash equivalents, and restricted cash	$ 6,138	$ 17,608	$ 2,695	$ 205,745

Reportable Segments - Segment R

Reportable Segments - Segment Revenues (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total rental property revenues		$ 740,340	$ 657,515	$ 475,212
Rental property revenues
Segment Reporting Information [Line Items]
Total rental property revenues	$ 721,900	721,883	628,751	463,401
Rental property revenues | Office
Segment Reporting Information [Line Items]
Total rental property revenues		721,883	628,751	463,401
Rental property revenues | Mixed-Use
Segment Reporting Information [Line Items]
Total rental property revenues		0	0	0
Rental property revenues | Operating Segments
Segment Reporting Information [Line Items]
Total rental property revenues		750,217	681,212	510,898
Rental property revenues | Operating Segments | Atlanta
Segment Reporting Information [Line Items]
Total rental property revenues		256,196	242,217	206,692
Rental property revenues | Operating Segments | Austin
Segment Reporting Information [Line Items]
Total rental property revenues		210,229	160,196	104,817
Rental property revenues | Operating Segments | Charlotte
Segment Reporting Information [Line Items]
Total rental property revenues		96,537	120,214	92,398
Rental property revenues | Operating Segments | Dallas
Segment Reporting Information [Line Items]
Total rental property revenues		18,143	9,421
Rental property revenues | Operating Segments | Phoenix
Segment Reporting Information [Line Items]
Total rental property revenues		50,671	54,216	51,238
Rental property revenues | Operating Segments | Tampa
Segment Reporting Information [Line Items]
Total rental property revenues		54,261	51,586	49,822
Rental property revenues | Operating Segments | Other
Segment Reporting Information [Line Items]
Total rental property revenues		64,180	43,362	5,931
Rental property revenues | Operating Segments | Office
Segment Reporting Information [Line Items]
Total rental property revenues		744,720	676,574	507,174
Rental property revenues | Operating Segments | Office | Atlanta
Segment Reporting Information [Line Items]
Total rental property revenues		255,594	242,209	206,692
Rental property revenues | Operating Segments | Office | Austin
Segment Reporting Information [Line Items]
Total rental property revenues		210,229	160,196	104,817
Rental property revenues | Operating Segments | Office | Charlotte
Segment Reporting Information [Line Items]
Total rental property revenues		96,537	120,214	92,398
Rental property revenues | Operating Segments | Office | Dallas
Segment Reporting Information [Line Items]
Total rental property revenues		18,143	9,421
Rental property revenues | Operating Segments | Office | Phoenix
Segment Reporting Information [Line Items]
Total rental property revenues		50,671	54,216	51,238
Rental property revenues | Operating Segments | Office | Tampa
Segment Reporting Information [Line Items]
Total rental property revenues		54,261	51,586	49,822
Rental property revenues | Operating Segments | Office | Other
Segment Reporting Information [Line Items]
Total rental property revenues		59,285	38,732	2,207
Rental property revenues | Operating Segments | Mixed-Use
Segment Reporting Information [Line Items]
Total rental property revenues		5,497	4,638	3,724
Rental property revenues | Operating Segments | Mixed-Use | Atlanta
Segment Reporting Information [Line Items]
Total rental property revenues		602	8	0
Rental property revenues | Operating Segments | Mixed-Use | Austin
Segment Reporting Information [Line Items]
Total rental property revenues		0	0	0
Rental property revenues | Operating Segments | Mixed-Use | Charlotte
Segment Reporting Information [Line Items]
Total rental property revenues		0	0	0
Rental property revenues | Operating Segments | Mixed-Use | Dallas
Segment Reporting Information [Line Items]
Total rental property revenues		0	0
Rental property revenues | Operating Segments | Mixed-Use | Phoenix
Segment Reporting Information [Line Items]
Total rental property revenues		0	0	0
Rental property revenues | Operating Segments | Mixed-Use | Tampa
Segment Reporting Information [Line Items]
Total rental property revenues		0	0	0
Rental property revenues | Operating Segments | Mixed-Use | Other
Segment Reporting Information [Line Items]
Total rental property revenues		4,895	4,630	3,724
Rental property revenues | Segment Reconciling Items
Segment Reporting Information [Line Items]
Total rental property revenues		(28,334)	(52,461)	(47,497)
Rental property revenues | Segment Reconciling Items | Office
Segment Reporting Information [Line Items]
Total rental property revenues		(22,837)	(47,823)	(43,773)
Rental property revenues | Segment Reconciling Items | Mixed-Use
Segment Reporting Information [Line Items]
Total rental property revenues		$ (5,497)	$ (4,638)	$ (3,724)

Reportable Segments - Segment N

Reportable Segments - Segment Net Operating Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total Net Operating Income	$ 486,034	$ 431,790	$ 326,063
Atlanta
Segment Reporting Information [Line Items]
Total Net Operating Income	172,539	158,045	131,564
Austin
Segment Reporting Information [Line Items]
Total Net Operating Income	125,215	93,311	60,474
Charlotte
Segment Reporting Information [Line Items]
Total Net Operating Income	65,203	77,082	62,812
Dallas
Segment Reporting Information [Line Items]
Total Net Operating Income	14,586	7,473
Phoenix
Segment Reporting Information [Line Items]
Total Net Operating Income	37,358	37,247	36,875
Tampa
Segment Reporting Information [Line Items]
Total Net Operating Income	33,440	33,586	30,514
Other
Segment Reporting Information [Line Items]
Total Net Operating Income	37,693	25,046	3,824
Office
Segment Reporting Information [Line Items]
Total Net Operating Income	482,736	428,731	323,820
Office | Atlanta
Segment Reporting Information [Line Items]
Total Net Operating Income	172,588	158,093	131,564
Office | Austin
Segment Reporting Information [Line Items]
Total Net Operating Income	125,215	93,311	60,474
Office | Charlotte
Segment Reporting Information [Line Items]
Total Net Operating Income	65,203	77,082	62,812
Office | Dallas
Segment Reporting Information [Line Items]
Total Net Operating Income	14,586	7,473
Office | Phoenix
Segment Reporting Information [Line Items]
Total Net Operating Income	37,358	37,247	36,875
Office | Tampa
Segment Reporting Information [Line Items]
Total Net Operating Income	33,440	33,586	30,514
Office | Other
Segment Reporting Information [Line Items]
Total Net Operating Income	34,346	21,939	1,581
Mixed-Use
Segment Reporting Information [Line Items]
Total Net Operating Income	3,298	3,059	2,243
Mixed-Use | Atlanta
Segment Reporting Information [Line Items]
Total Net Operating Income	(49)	(48)	0
Mixed-Use | Austin
Segment Reporting Information [Line Items]
Total Net Operating Income	0	0	0
Mixed-Use | Charlotte
Segment Reporting Information [Line Items]
Total Net Operating Income	0	0	0
Mixed-Use | Dallas
Segment Reporting Information [Line Items]
Total Net Operating Income	0	0
Mixed-Use | Phoenix
Segment Reporting Information [Line Items]
Total Net Operating Income	0	0	0
Mixed-Use | Tampa
Segment Reporting Information [Line Items]
Total Net Operating Income	0	0	0
Mixed-Use | Other
Segment Reporting Information [Line Items]
Total Net Operating Income	$ 3,347	$ 3,107	$ 2,243

Reportable Segments - Reconcili

Reportable Segments - Reconciliation of Net Income to Net Operating Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net income	$ 238,114	$ 152,683	$ 80,765
Net operating income from unconsolidated joint ventures	18,836	32,413	28,888
Total Revenues	(740,340)	(657,515)	(475,212)
Reimbursed expenses	1,580	4,004	3,782
General and administrative expenses	27,034	37,007	22,040
Interest expense	60,605	53,963	39,430
Impairment	14,829	0	0
Depreciation and amortization	288,648	257,149	181,382
Transaction costs	428	52,881	248
Other expenses	2,091	1,109	556
Gain on extinguishment of debt	0	0	(8)
Income from unconsolidated joint ventures	(7,947)	(12,666)	(12,224)
Gain on sale of investment in unconsolidated joint ventures, net	(45,767)	0	0
Gain on investment property transactions	(90,125)	(110,761)	(5,437)
Net Operating Income	486,034	431,790	326,063
Fee income
Segment Reporting Information [Line Items]
Total Revenues	(18,226)	(28,518)	(10,089)
Termination fee income
Segment Reporting Information [Line Items]
Total Revenues	(3,835)	(7,228)	(1,548)
Other income
Segment Reporting Information [Line Items]
Total Revenues	$ (231)	$ (246)	$ (1,722)

Real Estate and Accumulated D_2

Real Estate and Accumulated Depreciation - Schedule of Properties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 677,893
Initial Cost to Company
Land and Improvements	817,375
Buildings and Improvements	5,038,164
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	59,938
Building and Improvements less Cost of Sales, Transfers and Other	1,469,753
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	877,313
Building and Improvements less Cost of Sales, Transfers and Other	6,507,917
Total	7,385,230	$ 7,158,069	$ 4,121,286	$ 3,893,799
Accumulated Depreciation	811,196	$ 621,617	$ 421,495	$ 275,977
OPERATING PROPERTIES
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	677,893
Initial Cost to Company
Land and Improvements	605,197
Buildings and Improvements	4,948,060
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	64,464
Building and Improvements less Cost of Sales, Transfers and Other	1,417,898
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	669,661
Building and Improvements less Cost of Sales, Transfers and Other	6,365,958
Total	7,035,619
Accumulated Depreciation	803,073
OPERATING PROPERTIES | Atlanta, GA | Terminus
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	189,352
Initial Cost to Company
Land and Improvements	49,050
Buildings and Improvements	410,826
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	23,451
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	49,050
Building and Improvements less Cost of Sales, Transfers and Other	434,277
Total	483,327
Accumulated Depreciation	$ 19,471
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | Northpark Town Center
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	22,350
Buildings and Improvements	295,825
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	77,198
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	22,350
Building and Improvements less Cost of Sales, Transfers and Other	373,023
Total	395,373
Accumulated Depreciation	$ 85,760
Life on Which Depreciation in 2016 Statement of Operations is Computed	39 years
OPERATING PROPERTIES | Atlanta, GA | Spring & 8th
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	28,131
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	426
Building and Improvements less Cost of Sales, Transfers and Other	301,774
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	28,557
Building and Improvements less Cost of Sales, Transfers and Other	301,774
Total	330,331
Accumulated Depreciation	$ 29,922
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | Buckhead Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	35,064
Buildings and Improvements	234,111
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	23,652
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	35,064
Building and Improvements less Cost of Sales, Transfers and Other	257,763
Total	292,827
Accumulated Depreciation	$ 38,761
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | 3344 Peachtree
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	16,110
Buildings and Improvements	176,153
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	29,835
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	16,110
Building and Improvements less Cost of Sales, Transfers and Other	205,988
Total	222,098
Accumulated Depreciation	$ 29,947
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | Avalon
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	9,952
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	73
Building and Improvements less Cost of Sales, Transfers and Other	168,102
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	10,025
Building and Improvements less Cost of Sales, Transfers and Other	168,102
Total	178,127
Accumulated Depreciation	$ 13,323
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | Promenade
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 92,593
Initial Cost to Company
Land and Improvements	13,439
Buildings and Improvements	102,790
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	51,239
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	13,439
Building and Improvements less Cost of Sales, Transfers and Other	154,029
Total	167,468
Accumulated Depreciation	$ 62,724
Life on Which Depreciation in 2016 Statement of Operations is Computed	34 years
OPERATING PROPERTIES | Atlanta, GA | 3350 Peachtree
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	16,836
Buildings and Improvements	108,177
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	11,450
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	16,836
Building and Improvements less Cost of Sales, Transfers and Other	119,627
Total	136,463
Accumulated Depreciation	$ 18,294
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | 1200 Peachtree
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	19,495
Buildings and Improvements	62,836
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(1)
Building and Improvements less Cost of Sales, Transfers and Other	977
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	19,494
Building and Improvements less Cost of Sales, Transfers and Other	63,813
Total	83,307
Accumulated Depreciation	$ 2,934
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | 3348 Peachtree
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	6,707
Buildings and Improvements	69,723
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	2,884
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	6,707
Building and Improvements less Cost of Sales, Transfers and Other	72,607
Total	79,314
Accumulated Depreciation	$ 12,540
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | Meridian Mark Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	2,219
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	31,698
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	2,219
Building and Improvements less Cost of Sales, Transfers and Other	31,698
Total	33,917
Accumulated Depreciation	$ 22,979
Life on Which Depreciation in 2016 Statement of Operations is Computed	30 years
OPERATING PROPERTIES | Tampa, FL | Corporate Center
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	2,468
Buildings and Improvements	272,148
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	17,282
Building and Improvements less Cost of Sales, Transfers and Other	64,426
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	19,750
Building and Improvements less Cost of Sales, Transfers and Other	336,574
Total	356,324
Accumulated Depreciation	$ 51,978
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Tampa, FL | The Pointe
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	9,404
Buildings and Improvements	54,694
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	8,360
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	9,404
Building and Improvements less Cost of Sales, Transfers and Other	63,054
Total	72,458
Accumulated Depreciation	$ 11,631
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Tampa, FL | Harborview Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	10,800
Buildings and Improvements	39,136
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	10,175
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	10,800
Building and Improvements less Cost of Sales, Transfers and Other	49,311
Total	60,111
Accumulated Depreciation	$ 7,487
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Austin, TX | The Domain
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	65,236
Buildings and Improvements	755,143
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	6,008
Building and Improvements less Cost of Sales, Transfers and Other	230,349
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	71,244
Building and Improvements less Cost of Sales, Transfers and Other	985,492
Total	1,056,736
Accumulated Depreciation	$ 35,842
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Austin, TX | The Terrace
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	27,360
Buildings and Improvements	247,226
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	7,558
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	27,360
Building and Improvements less Cost of Sales, Transfers and Other	254,784
Total	282,144
Accumulated Depreciation	$ 14,028
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Austin, TX | One Eleven Congress
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	33,841
Buildings and Improvements	201,707
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	47,221
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	33,841
Building and Improvements less Cost of Sales, Transfers and Other	248,928
Total	282,769
Accumulated Depreciation	$ 34,609
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Austin, TX | San Jacinto Center
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	34,068
Buildings and Improvements	176,535
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(579)
Building and Improvements less Cost of Sales, Transfers and Other	18,908
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	33,489
Building and Improvements less Cost of Sales, Transfers and Other	195,443
Total	228,932
Accumulated Depreciation	$ 27,446
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Austin, TX | Colorado Tower
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 114,659
Initial Cost to Company
Land and Improvements	1,600
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	20,592
Building and Improvements less Cost of Sales, Transfers and Other	127,434
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	22,192
Building and Improvements less Cost of Sales, Transfers and Other	127,434
Total	149,626
Accumulated Depreciation	$ 41,443
Life on Which Depreciation in 2016 Statement of Operations is Computed	30 years
OPERATING PROPERTIES | Austin, TX | 816 Congress
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 78,232
Initial Cost to Company
Land and Improvements	6,817
Buildings and Improvements	89,891
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	20,625
Building and Improvements less Cost of Sales, Transfers and Other	31,626
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	27,442
Building and Improvements less Cost of Sales, Transfers and Other	121,517
Total	148,959
Accumulated Depreciation	$ 35,373
Life on Which Depreciation in 2016 Statement of Operations is Computed	42 years
OPERATING PROPERTIES | Austin, TX | Domain Point
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	17,349
Buildings and Improvements	71,599
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	4,949
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	17,349
Building and Improvements less Cost of Sales, Transfers and Other	76,548
Total	93,897
Accumulated Depreciation	$ 4,580
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Austin, TX | Research Park V
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	4,373
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	801
Building and Improvements less Cost of Sales, Transfers and Other	42,393
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	5,174
Building and Improvements less Cost of Sales, Transfers and Other	42,393
Total	47,567
Accumulated Depreciation	$ 10,300
Life on Which Depreciation in 2016 Statement of Operations is Computed	30 years
OPERATING PROPERTIES | Phoenix, AZ | Hayden Ferry
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	13,102
Buildings and Improvements	262,578
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(252)
Building and Improvements less Cost of Sales, Transfers and Other	26,676
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	12,850
Building and Improvements less Cost of Sales, Transfers and Other	289,254
Total	302,104
Accumulated Depreciation	$ 49,929
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Phoenix, AZ | Tempe Gateway
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	5,893
Buildings and Improvements	95,130
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	6,912
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	5,893
Building and Improvements less Cost of Sales, Transfers and Other	102,042
Total	107,935
Accumulated Depreciation	$ 15,867
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Phoenix, AZ | 111 West Rio
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	6,076
Buildings and Improvements	56,647
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(127)
Building and Improvements less Cost of Sales, Transfers and Other	17,761
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	5,949
Building and Improvements less Cost of Sales, Transfers and Other	74,408
Total	80,357
Accumulated Depreciation	$ 10,478
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Charlotte, NC | One South at The Plaza (fka Bank of America Plaza)
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	32,091
Buildings and Improvements	229,840
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(417)
Building and Improvements less Cost of Sales, Transfers and Other	8,620
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	31,674
Building and Improvements less Cost of Sales, Transfers and Other	238,460
Total	270,134
Accumulated Depreciation	$ 21,849
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Charlotte, NC | Fifth Third Center
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 137,057
Initial Cost to Company
Land and Improvements	22,591
Buildings and Improvements	180,430
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	27,122
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	22,591
Building and Improvements less Cost of Sales, Transfers and Other	207,552
Total	230,143
Accumulated Depreciation	$ 47,212
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Charlotte, NC | The RailYard
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	22,831
Buildings and Improvements	178,323
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	44
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	22,831
Building and Improvements less Cost of Sales, Transfers and Other	178,367
Total	201,198
Accumulated Depreciation	$ 391
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Charlotte, NC | NASCAR Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	51
Buildings and Improvements	115,238
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	7,505
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	51
Building and Improvements less Cost of Sales, Transfers and Other	122,743
Total	122,794
Accumulated Depreciation	$ 19,656
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Charlotte, NC | BBT Parking Garage
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	15,318
Buildings and Improvements	69,780
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	33
Building and Improvements less Cost of Sales, Transfers and Other	1,007
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	15,351
Building and Improvements less Cost of Sales, Transfers and Other	70,787
Total	86,138
Accumulated Depreciation	$ 1,166
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Houston, TX | Briarlake Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	33,486
Buildings and Improvements	196,915
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	4,250
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	33,486
Building and Improvements less Cost of Sales, Transfers and Other	201,165
Total	234,651
Accumulated Depreciation	$ 13,126
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Dallas, GA | Legacy Union One
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 66,000
Initial Cost to Company
Land and Improvements	13,049
Buildings and Improvements	128,740
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	59
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	13,049
Building and Improvements less Cost of Sales, Transfers and Other	128,799
Total	141,848
Accumulated Depreciation	$ 7,576
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Dallas, GA | 5950 Sherry Lane
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	8,040
Buildings and Improvements	65,919
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	2,283
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	8,040
Building and Improvements less Cost of Sales, Transfers and Other	68,202
Total	76,242
Accumulated Depreciation	$ 4,451
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
HELD FOR SALE
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	32,656
Buildings and Improvements	90,104
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(566)
Building and Improvements less Cost of Sales, Transfers and Other	7,622
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	32,090
Building and Improvements less Cost of Sales, Transfers and Other	97,726
Total	129,816
Accumulated Depreciation	8,123
HELD FOR SALE | Fort Worth, TX | Burnett Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	32,656
Buildings and Improvements	90,104
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(566)
Building and Improvements less Cost of Sales, Transfers and Other	7,622
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	32,090
Building and Improvements less Cost of Sales, Transfers and Other	97,726
Total	129,816
Accumulated Depreciation	$ 8,123
Life on Which Depreciation in 2016 Statement of Operations is Computed	40 years
PROJECTS UNDER DEVELOPMENT
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	13,156
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	44,233
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	13,156
Building and Improvements less Cost of Sales, Transfers and Other	44,233
Total	57,389
Accumulated Depreciation	0
PROJECTS UNDER DEVELOPMENT | Phoenix, AZ | 100 Mill
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	13,156
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	44,233
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	13,156
Building and Improvements less Cost of Sales, Transfers and Other	44,233
Total	57,389
Accumulated Depreciation	0
LAND
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	166,366
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(3,960)
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	162,406
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	162,406
Accumulated Depreciation	0
LAND | Corporate Center 5
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	5,188
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(4)
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	5,184
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	5,184
Accumulated Depreciation	0
LAND | Atlanta, GA | 901 West Peachtree
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	11,883
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	3,584
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	15,467
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	15,467
Accumulated Depreciation	0
LAND | Atlanta, GA | 3354 Peachtree
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	13,410
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	13,410
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	13,410
Accumulated Depreciation	0
LAND | Austin, TX | Domain 14 & 15
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	21,000
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	21,000
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	21,000
Accumulated Depreciation	0
LAND | Austin, TX | Domain 9
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	16,640
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	16,640
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	16,640
Accumulated Depreciation	0
LAND | Austin, TX | Domain Point 3
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	11,018
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	11,018
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	11,018
Accumulated Depreciation	0
LAND | Phoenix, AZ | 100 Mill - Adjacent Land
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	6,350
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	6,350
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	6,350
Accumulated Depreciation	0
LAND | Charlotte, NC | South End Station
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	28,134
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	28,134
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	28,134
Accumulated Depreciation	0
LAND | Charlotte, NC | 303 Tremont
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	18,779
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	18,779
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	18,779
Accumulated Depreciation	0
LAND | Dallas, GA | Legacy Union 2 & 3
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	22,724
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	22,724
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	22,724
Accumulated Depreciation	0
LAND | Suburban Atlanta, GA | The Avenue Forsyth -Adjacent Land
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	11,240
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(7,540)
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	3,700
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	3,700
Accumulated Depreciation	$ 0

Real Estate and Accumulated D_3

Real Estate and Accumulated Depreciation - Notes to Schedule III (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate
Balance at beginning of period	$ 7,158,069	$ 4,121,286	$ 3,893,799
Additions during the period:
TIER merger	0	2,222,989	0
Acquisitions	286,252	542,502	48,920
Improvements and other capitalized costs	323,919	271,720	178,567
Total Additions	610,171	3,037,211	227,487
Deductions during the period:
Cost of real estate sold	(383,010)	(428)	0
Total Deductions	(383,010)	(428)	0
Balance at end of period	7,385,230	7,158,069	4,121,286
Cumulative impairment charges on real estate assets owned at end of period	(14,829)	0	0
Balance at end of period before impairment charges	7,370,401	7,158,069	4,121,286
Accumulated Depreciation
Balance at beginning of period	621,617	421,495	275,977
Additions during the period:
Depreciation expense	234,057	200,122	145,518
Total Additions	234,057	200,122	145,518
Deductions during the period:
Cost of real estate sold	(44,478)	0	0
Total Deductions	(44,478)	0	0
Balance at end of period before impairment charges	811,196	$ 621,617	$ 421,495
Aggregate cost for federal income tax, net of depreciation	$ 5,200,000
Buildings and Improvements | Minimum
Deductions during the period:
Useful life	30 years
Buildings and Improvements | Maximum
Deductions during the period:
Useful life	42 years