Cousins Properties (CUZ) 10-Q28 Oct 212021 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2021	Oct. 21, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-11312
Entity Registrant Name	COUSINS PROPERTIES INC
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	58-0869052
Entity Address, Address Line One	3344 Peachtree Road NE
Entity Address, Address Line Two	Suite 1800
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30326-4802
City Area Code	404
Local Phone Number	407-1000
Title of 12(b) Security	Common Stock, $1 par value per share
Trading Symbol	CUZ
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		148,688,036
Entity Central Index Key	0000025232
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Real estate assets:
Operating properties, net of accumulated depreciation of $854,770 and $803,073 in 2021 and 2020, respectively	$ 6,191,205	$ 6,232,546
Projects under development	136,123	57,389
Land	150,766	162,406
Total properties	6,478,094	6,452,341
Real estate assets and other assets held for sale, net	0	125,746
Cash and cash equivalents	5,532	4,290
Restricted cash	1,236	1,848
Accounts receivable	13,205	20,248
Deferred rents receivable	152,278	138,341
Investment in unconsolidated joint ventures	111,351	125,481
Intangible assets, net	158,189	189,164
Other assets	57,479	49,939
Total assets	6,977,364	7,107,398
Liabilities:
Notes payable	2,047,599	2,162,719
Accounts payable and accrued expenses	203,627	186,267
Deferred income	76,475	62,319
Intangible liabilities, net	56,521	69,846
Other liabilities	115,600	118,103
Liabilities of real estate assets held for sale, net	0	12,606
Total liabilities	2,499,822	2,611,860
Commitments and contingencies
Stockholders' investment:
Common stock, $1 par value per share, 300,000,000 shares authorized, 151,272,969 and 151,149,289 shares issued and outstanding in 2021 and 2020, respectively	151,273	151,149
Additional paid-in capital	5,547,808	5,542,762
Treasury stock at cost, 2,584,933 shares in 2021 and 2020	(148,473)	(148,473)
Distributions in excess of cumulative net income	(1,105,516)	(1,078,304)
Total stockholders' investment	4,445,092	4,467,134
Nonredeemable noncontrolling interests	32,450	28,404
Total equity	4,477,542	4,495,538
Total liabilities and equity	$ 6,977,364	$ 7,107,398

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accumulated depreciation on operating properties	$ 854,770	$ 803,073
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)	151,272,969	151,149,289
Common stock, shares outstanding (in shares)	151,272,969	151,149,289
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	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Total Revenues	$ 188,732	$ 183,380	$ 564,919	$ 557,193
Expenses:
Rental property operating expenses	65,354	62,844	195,465	189,003
Reimbursed expenses	383	373	1,149	1,216
General and administrative expenses	7,968	5,658	22,014	19,853
Interest expense	16,709	15,058	50,573	44,955
Depreciation and amortization	72,073	71,498	214,399	215,980
Transaction costs	0	0	0	428
Other	421	723	1,835	1,841
Total costs and expenses	162,908	156,154	485,435	473,276
Income from unconsolidated joint ventures	2,128	1,611	5,826	6,751
Gain (loss) on sales of investments in unconsolidated joint ventures	13,121	(59)	13,160	45,940
Gain (loss) on investment property transactions	13,063	(523)	13,037	90,192
Net income	54,136	28,255	111,507	226,800
Net income attributable to noncontrolling interests	(118)	(140)	(226)	(641)
Net income available to common stockholders	$ 54,018	$ 28,115	$ 111,281	$ 226,159
Net income per common share — basic (in usd per share)	$ 0.36	$ 0.19	$ 0.75	$ 1.53
Net income per common share — diluted (in usd per share)	$ 0.36	$ 0.19	$ 0.75	$ 1.52
Weighted average shares — basic (in shares)	148,688	148,566	148,659	148,181
Weighted average shares — diluted (in shares)	148,772	148,606	148,743	148,586
Rental property revenues
Revenues:
Total Revenues	$ 185,515	$ 179,024	$ 552,088	$ 543,252
Fee income
Revenues:
Total Revenues	3,094	4,350	12,426	13,772
Other
Revenues:
Total Revenues	$ 123	$ 6	$ 405	$ 169

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Treasury Stock	Distributions in Excess of Net Income	Stockholders’ Investment	Nonredeemable Noncontrolling Interests
Beginning balance at Dec. 31, 2019	$ 4,427,835	$ 1,717	$ 149,347	$ 5,493,883	$ (148,473)	$ (1,137,200)	$ 4,359,274	$ 68,561
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	226,800					226,159	226,159	641
Common stock issued 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 restricted stock units, net of forfeitures	3,354		(7)	3,361			3,354
Contributions from nonredeemable noncontrolling interests	4,133							4,133
Distributions to nonredeemable noncontrolling interests	(1,020)							(1,020)
Common dividends	(133,702)					(133,702)	(133,702)
Ending balance at Sep. 30, 2020	4,527,093	0	151,149	5,541,879	(148,473)	(1,044,743)	4,499,812	27,281
Beginning balance at Jun. 30, 2020	4,540,329		151,153	5,540,945	(148,473)	(1,028,289)	4,515,336	24,993
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	28,255					28,115	28,115	140
Amortization of stock options, restricted stock, and restricted stock units, net of forfeitures	930		(4)	934			930
Contributions from nonredeemable noncontrolling interests	2,317							2,317
Distributions to nonredeemable noncontrolling interests	(169)							(169)
Common dividends	(44,569)					(44,569)	(44,569)
Ending balance at Sep. 30, 2020	4,527,093	0	151,149	5,541,879	(148,473)	(1,044,743)	4,499,812	27,281
Beginning 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]
Net income	111,507					111,281	111,281	226
Common stock issued pursuant to stock based compensation	552		126	426			552
Amortization of stock options, restricted stock, and restricted stock units, net of forfeitures	4,618		(2)	4,620			4,618
Contributions from nonredeemable noncontrolling interests	5,017							5,017
Distributions to nonredeemable noncontrolling interests	(1,197)							(1,197)
Common dividends	(138,493)					(138,493)	(138,493)
Ending balance at Sep. 30, 2021	4,477,542	0	151,273	5,547,808	(148,473)	(1,105,516)	4,445,092	32,450
Beginning balance at Jun. 30, 2021	4,467,404		151,273	5,546,336	(148,473)	(1,113,273)	4,435,863	31,541
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	54,136					54,018	54,018	118
Amortization of stock options, restricted stock, and restricted stock units, net of forfeitures	1,472			1,472			1,472
Contributions from nonredeemable noncontrolling interests	1,635							1,635
Distributions to nonredeemable noncontrolling interests	(844)							(844)
Common dividends	(46,261)					(46,261)	(46,261)
Ending balance at Sep. 30, 2021	$ 4,477,542	$ 0	$ 151,273	$ 5,547,808	$ (148,473)	$ (1,105,516)	$ 4,445,092	$ 32,450

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Common dividends (in usd per share)	$ 0.31	$ 0.30	$ 0.93	$ 0.90

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 111,507	$ 226,800
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of investment in unconsolidated joint ventures	(13,160)	(45,940)
Gain on investment property transactions, net	(13,037)	(90,192)
Depreciation and amortization	214,399	215,980
Amortization and write-off of deferred financing costs and premium on notes payable	(356)	(671)
Equity-classified stock-based compensation expense, net of forfeitures	5,959	4,415
Effect of non-cash adjustments to rental revenues	(27,838)	(41,614)
Income from unconsolidated joint ventures	(5,826)	(6,751)
Operating distributions from unconsolidated joint ventures	9,085	5,940
Changes in other operating assets and liabilities:
Change in receivables and other assets, net	3,178	(715)
Change in operating liabilities, net	14,676	(8,245)
Net cash provided by operating activities	298,587	259,007
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from investment property sales, net	389,777	435,539
Proceeds from sale of interest in unconsolidated joint ventures, net	67,143	52,815
Property acquisition, development, and tenant asset expenditures	(488,243)	(306,102)
Return of capital distributions from unconsolidated joint venture	25,955	0
Contributions to unconsolidated joint ventures	(46,038)	(3,752)
Change in notes receivable and other assets	0	(167)
Net cash provided by (used in) investing activities	(51,406)	178,333
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from credit facility	329,000	319,500
Repayment of credit facility	(527,400)	(571,000)
Repayment of notes payable	(12,214)	(34,710)
Payment of deferred financing costs	(3,014)	(70)
Contributions from noncontrolling interests	5,017	4,133
Distributions to nonredeemable noncontrolling interests	(1,197)	(1,020)
Common dividends paid	(136,743)	(131,694)
Issuance of term loan	350,000	0
Repayment of term loan	(250,000)	0
Other	0	(1,368)
Net cash used in financing activities	(246,551)	(416,229)
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	630	21,111
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD	6,138	17,608
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD	$ 6,768	$ 38,719

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
Description of Business and Basis of Presentation	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business : Cousins Properties Incorporated (“Cousins”), a Georgia corporation, is a self-administered and self-managed real estate investment trust (“REIT”). Cousins conducts substantially all of its operations through Cousins Properties LP ("CPLP"). Cousins owns in excess of 99% of CPLP, and CPLP is consolidated with Cousins for financial reporting purposes. CPLP also owns Cousins TRS Services LLC ("CTRS"), a taxable entity that 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 mixed-use developments in the Sun Belt markets of the United States with a focus on Atlanta, Austin, Charlotte, Phoenix, Tampa, Dallas, and Nashville. Cousins has elected to be taxed as a REIT and intends to, among other things, distribute 100% of its net taxable income to stockholders, thereby eliminating any liability for federal income taxes under current law. Therefore, the results included herein do not include a federal income tax provision for Cousins. As of September 30, 2021, the Company's portfolio of real estate assets consisted of interests in 18.5 million square feet of office space and 620,000 square feet of other space. Basis of Presentation: The condensed consolidated financial statements are unaudited and were prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, these financial statements reflect all adjustments necessary (which adjustments are of a normal and recurring nature) for the fair presentation of the Company's financial position as of September 30, 2021 and the results of operations for the three and nine months ended September 30, 2021 and 2020. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of results expected for the full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to the rules and regulations of the SEC. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. The accounting policies employed are substantially the same as those shown in note 2 to the consolidated financial statements included therein. For the three and nine months ended September 30, 2021 and 2020, there were no items of other comprehensive income. Therefore, the Company did not present comprehensive income. The Company evaluates all partnerships, joint ventures, and other arrangements with variable interests to determine if the entity or arrangement qualifies as a variable interest entity ("VIE"), as defined in the Financial Accounting Standard Board's ("FASB") Accounting Standards Codification ("ASC"). If the entity or arrangement qualifies as a VIE and the Company is determined to be the primary beneficiary, the Company is required to consolidate the assets, liabilities, and results of operations of the VIE. In the third quarter, the Company transferred the right to purchase a building to a special purpose entity to facilitate a potential Section 1031 exchange under the Internal Revenue Code of 1986, as amended (the "Code"), and the special purpose entity purchased the building and retained the assets acquired therefrom. To realize the tax deferral available under Section 1031, the Company must identify like-kind property to be disposed of within 45 days of the acquisition date and complete the transfer of the title to the to-be-exchanged building within 180 days of the acquisition date. We concluded that Cousins has a controlling financial interest and is, therefore, the primary beneficiary of the venture. The Company consolidates this VIE entity. As of September 30, 2021, this VIE had total assets of $307.1 million and total liabilities of $305.6 million. The liabilities of this VIE eliminate in the Company's consolidated balance sheet.

Transactions with Norfolk South

Transactions with Norfolk Southern Railway Company	9 Months Ended
Transactions with Norfolk Southern Railway Company	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
TRANSACTIONS WITH NORFOLK SOUTHERN RAILWAY COMPANY	TRANSACTIONS WITH NORFOLK SOUTHERN RAILWAY COMPANY On March 1, 2019, the Company entered into a series of agreements and executed related transactions with Norfolk Southern Railway Company (“NS”) as follows: • Sold land to NS for $52.5 million. • Executed a Development Agreement with NS whereby the Company will receive fees totaling $5 million in consideration for development services for NS’s corporate headquarters that is being constructed on the land sold to NS. • Executed a Consulting Agreement with NS whereby the Company will receive fees totaling $32 million in consideration for consulting services for NS’s corporate headquarters. The Development Agreement and Consulting Agreement are collectively referred to below as the “Fee Agreements.” • Purchased a building from NS (“1200 Peachtree”) for $82 million subject to a three-year market rate lease with NS that covers the entire building. The Company sold the land to NS for $5 million above its carrying amount, which included $37 million of land purchased in 2018, $6.5 million of land purchased in 2019, and $4 million of site preparation work. The Company purchased 1200 Peachtree from NS for an amount it determined to be $10.3 million below the building’s fair value. The Company determined that all contracts and transactions associated with NS should be combined for accounting purposes, and the amounts exchanged under the combined contracts should be allocated to the various components of the overall transaction at fair value or market value as discussed below. The Company determined that the purchase of 1200 Peachtree should be recorded at fair value of $92.3 million. The Company determined that the lease with NS at the 1200 Peachtree building was at market value under ASC 842. The land sale was accounted for under ASC 610-20, and no gain or loss was recorded on the derecognition of this non-financial asset as the fair value was determined to equal the carrying amount. Consideration related to various services provided to NS, and accounted for under ASC 606, was determined to be $52.3 million and represents the negotiated market value for the services agreed to by the Company and NS in the contracts. This amount included non-cash consideration of the $10.3 million discount on the purchase of 1200 Peachtree as well as cash consideration of $5 million from the land sale contract (difference between fair value and contract amount), $5 million from the Development Agreement, and $32 million from the Consulting Agreement. Since all of the agreements and contracts above were executed for the purpose of delivering and constructing a corporate headquarters for NS and all of the services and deliverables are highly interdependent, the Company determined that the services represent a single performance obligation under ASC 606. The Company determined that control of the services to be provided is being transferred over time and, thus, the Company must recognize the $52.3 million contract price in revenue as it satisfies the performance obligation. The Company determined that the inputs method of measuring progress of satisfying the performance obligation was the most appropriate method of recognizing revenue for the services component. Therefore, the Company began recognizing revenue in the quarter ended March 31, 2019, and will continue to recognize revenue based upon the time spent by the Company’s employees in providing these services as compared to the total estimated time required to satisfy the performance obligation. During the three months ended September 30, 2021 and 2020, respectively, the Company recognized $2.5 million and $3.7 million in fee income in its consolidated statements of operations related to the services provided to NS. During the nine months ended September 30, 2021

Real Estate

Real Estate	9 Months Ended
Real Estate	Sep. 30, 2021
Real Estate [Abstract]
REAL ESTATE	REAL ESTATE Acquisitions On July 28, 2021, the Company acquired 725 Ponce, a 372,000 square foot office building in Midtown Atlanta, for $300.8 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): 725 Ponce Tangible assets: Operating properties $ 292,946 Tangible assets 292,946 Intangible assets: In-place leases 12,788 Above market leases 1,770 Intangible assets 14,558 Intangible liabilities: Above market leases (6,739) Intangible liabilities (6,739) Total net assets acquired $ 300,765 On September 27, 2021, the Company acquired a 0.15 acre land parcel in Atlanta for a gross purchase price of $3.1 million related to a potential future development in Midtown Atlanta. On March 12, 2021, the Company acquired a 0.24 acre land parcel in Atlanta for a gross purchase price of $8.0 million that is held in a 95% owned consolidated joint venture. In May 2020, the Company acquired a 1,550 space parking garage in Charlotte for a gross purchase price of $85.0 million. This property is included in real estate assets on the condensed consolidated balance sheet and in the Company's Charlotte/Other operating segment. Subsequent to quarter end, on October 1, 2021, the Company acquired Heights Union, a 294,000 square foot office property in Tampa, for a gross purchase price of $144.8 million. Dispositions On July 23, 2021, the Company sold One South at the Plaza in Charlotte for a gross sales price of $271.5 million and a gain of $13.1 million. On July 1, 2021, the Company sold 0.7 acres of land in Phoenix, adjacent to our 100 Mill development, to a hotel developer for $6.4 million. Net proceeds approximated our book value. On April 7, 2021, the Company sold Burnett Plaza, a one million square foot office building in Fort Worth, for a gross sales price of $137.5 million and recorded a loss of $19,000. During March 2020, the Company sold Hearst Tower, a 966,000 square foot office building in Charlotte, for a gross purchase price of $455.5 million. The Company recognized a gain of $90.4 million on the sale. During February 2020, the Company sold Woodcrest, a 386,000 square foot office property in Cherry Hill, New Jersey, for a gross purchase price of $25.3 million. The Company acquired Woodcrest in a merger and did not record any gain or loss on the sale. Held For Sale Buildings The Company's Burnett Plaza property in Fort Worth was classified as held for sale as of December 31, 2020 as the result of the Company accepting an offer for the sale of the property in the fourth quarter of 2020. The major classes of assets and liabilities of those properties held for sale were as follows (in thousands): December 31, 2020 Real estate assets and other assets held for sale Operating property, net of accumulated depreciation of $8,123 $ 106,864 Notes and accounts receivable 439 Deferred rents receivable 2,480 Intangible assets, net of accumulated amortization of $6,065 15,830 Other assets 133 Total real estate assets and other assets held for sale $ 125,746 Liabilities of real estate assets held for sale Accounts payable and accrued expenses $ 7,399 Deferred income 44 Intangible liabilities, net of accumulated amortization of $1,205 3,014 Other liabilities 2,149 Total liabilities of real estate assets held for sale $ 12,606 Impairment The Company tests buildings held for investment 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 value 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 held for investment buildings were impaired during any periods presented in the accompanying statement of operations while under the held for investment classification. The Company also reviews held for sale assets for impairments. If book value is in excess of estimated fair value less estimated selling costs, we impair those assets to fair value less estimated selling costs. There were no held for sale buildings impaired during any periods presented in the accompanying statements of operations.

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Ventures	9 Months Ended
Investment in Unconsolidated Joint Ventures	Sep. 30, 2021
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 September 30, 2021 and December 31, 2020 (in thousands). The information included in the summary of operations table is for the nine months ended September 30, 2021 and 2020 (in thousands): Total Assets Total Debt Total Equity (Deficit) Company’s Investment SUMMARY OF FINANCIAL POSITION: 2021 2020 2021 2020 2021 2020 2021 2020 Neuhoff Holdings LLC 111,250 — 26,932 — 84,318 — 42,159 — Austin 300 Colorado Project, LP 173,515 165,586 92,252 86,848 70,167 68,567 38,919 38,488 AMCO 120 WT Holdings, LLC 84,640 85,449 — — 83,406 84,311 15,450 15,735 HICO Victory Center LP 16,230 16,544 — — 15,929 15,709 10,709 10,595 715 Ponce Holdings LLC 8,051 — — — 8,016 — 4,028 — DC Charlotte Plaza LLLP — 173,704 — — — 90,648 6 47,941 Carolina Square Holdings LP 113,129 118,616 133,264 77,034 (33,999) 21,888 (15,671) (1) 12,430 Crawford Long - CPI, LLC 26,450 29,641 64,996 66,423 (40,203) (38,253) (19,326) (1) (18,289) (1) Other 112 1,313 — — 118 1,316 80 292 $ 533,377 $ 590,853 $ 317,444 $ 230,305 $ 187,752 $ 244,186 $ 76,354 $ 107,192 Total Revenues Net Income (Loss) Company's Share of Income (Loss) SUMMARY OF OPERATIONS: 2021 2020 2021 2020 2021 2020 DC Charlotte Plaza LLLP 15,209 15,476 5,494 5,597 2,549 2,583 Crawford Long - CPI, LLC 9,743 9,784 3,049 2,767 1,412 1,329 Carolina Square Holdings LP 12,478 10,792 1,713 1,936 776 950 Austin 300 Colorado Project, LP 6,388 264 1,600 90 773 45 HICO Victory Center LP 199 241 199 241 111 121 AMCO 120 WT Holdings, LLC 6,385 1,564 234 (2,106) 38 (383) 715 Ponce Holdings LLC 25 — 11 — 7 — Other 378 6,920 271 3,477 160 2,106 $ 50,805 $ 45,041 $ 12,571 $ 12,002 $ 5,826 $ 6,751 (1) Negative bases are included in deferred income on the consolidated balance sheets. On September 30, 2021, the Company sold its 50% owned joint venture interest in DC Charlotte Plaza, LLLP ("DCCP"), which owned a 281,000 square foot office building in Charlotte, to its partner for a gross sales price of $60.8 million. The sale was triggered by the exercise of the partner's purchase option as stipulated in the partnership agreement. The Company recognized a gain of $13.1 million on the sale of its interest in DCCP. On July 28, 2021, Neuhoff Holdings LLC ("Neuhoff"), a 50-50 joint venture, was formed for the purpose of developing a mixed-use property in Nashville. The Company made an initial contribution of $35.1 million for its interest in the land and development costs incurred to date. In addition to the existing assets of the joint venture, Neuhoff also has rights to adjacent parcels for future development. On September 30, 2021, the joint venture closed on a construction loan with a borrowing capacity up to $312.7 million. The mortgage loan bears interest at the London Interbank Offering Rate ("LIBOR") plus 3.45% and matures on September 30, 2025. On July 28, 2021, 715 Ponce Holdings LLC ("715 Ponce"), a 50-50 joint venture, was formed for the purpose of developing a property in Midtown Atlanta in the future. The Company made an initial contribution of $4.0 million for its interest in the land held by the joint venture. In March 2021, Carolina Square Holdings LP ("Carolina Square"), a 50% owned joint venture with NR 123 Franklin LLC ("Northwood Ravin"), issued a non-recourse mortgage note with a principal balance of $135.7 million. Proceeds from the issuance of this mortgage note were used to repay in full its $77.5 million construction loan that was set to mature May 1, 2021 and to make a pro-rata distribution of $26.0 million to each partner. The mortgage loan bears interest at LIBOR plus 1.80% and matures on March 18, 2026. In March 2020, the Company sold its 50% owned joint venture interest in Charlotte Gateway Village, LLC ("Gateway"), which owned a 1.1 million square foot office building in Charlotte, to its partner for a gross sales 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 $44.7 million on the sale of its interest in Gateway, net of $188,000 of estimated state income tax. In February 2020, the Company sold its remaining interest in the Wildwood Associates joint venture, which owned a 6.3 acre parcel of land in Atlanta, to its venture partner for a gross sales 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.

Intangible Assets and Liabiliti

Intangible Assets and Liabilities	9 Months Ended
Intangible Assets and Liabilities	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND LIABILITIES	INTANGIBLE ASSETS AND LIABILITIES At September 30, 2021 and December 31, 2020, intangible assets included the following (in thousands): 2021 2020 In-place leases, net of accumulated amortization of $144,765 and $212,413 in 2021 and 2020, respectively $ 119,958 $ 145,290 Above-market rents, net of accumulated amortization of $25,771 and $33,548 in 2021 and 2020, respectively 19,524 24,960 Below-market ground lease, net of accumulated amortization of $1,380 and $1,173 in 2021 and 2020, respectively 17,033 17,240 Goodwill 1,674 1,674 $ 158,189 $ 189,164 At September 30, 2021 and December 31, 2020, intangible liabilities included the following (in thousands): 2021 2020 Below-market rents, net of accumulated amortization of $55,946 and $73,612 in 2021 and 2020, respectively $ 54,929 $ 68,219 Above-market ground lease, net of accumulated amortization of $389 and $354 in 2021 and 2020, respectively 1,592 1,627 $ 56,521 $ 69,846 Aggregate net amortization expense related to intangible assets and liabilities for the three and nine months ended September 30, 2021 was $8.2 million and $24.6 million, respectively. Aggregate net amortization expense related to intangible assets and liabilities for the three and nine months ended September 30, 2020 was $10.2 million and $33.7 million, respectively. Over the next five years and thereafter, aggregate amortization of these intangible assets and liabilities is anticipated to be as follows (in thousands): In-Place Above-Market Below-Market Ground Lease Below-Market Above-Market 2021 (three months) $ 9,587 $ 1,333 $ 69 $ (4,248) $ (12) 2022 25,871 4,575 276 (10,284) (46) 2023 21,515 3,748 276 (8,662) (46) 2024 17,484 2,971 276 (7,942) (46) 2025 13,722 1,975 276 (7,366) (46) Thereafter 31,779 4,922 15,860 (16,427) (1,396) $ 119,958 $ 19,524 $ 17,033 $ (54,929) $ (1,592) The carrying amount of goodwill did not change during the three and nine months ended September 30, 2021 and 2020.

Other Assets

Other Assets	9 Months Ended
Other Assets	Sep. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets on the consolidated balance sheets as of September 30, 2021 and December 31, 2020 included the following (in thousands): 2021 2020 Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $18,886 and $32,582 in 2021 and 2020, respectively $ 14,891 $ 17,211 Predevelopment costs and earnest money 24,988 17,841 Prepaid expenses and other assets 9,368 6,095 Lease inducements, net of accumulated amortization of $3,678 and $3,316 in 2021 and 2020, respectively 6,347 5,771 Line of credit deferred financing costs, net of accumulated amortization of $5,597 and $4,461 in 2021 and 2020, respectively 1,885 3,021 $ 57,479 $ 49,939 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	9 Months Ended
Notes Payable	Sep. 30, 2021
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE The following table summarizes the terms of notes payable outstanding at September 30, 2021 and December 31, 2020 ($ in thousands): Description Interest Rate (1) Maturity (2) 2021 2020 Unsecured Notes: Credit Facility, Unsecured 1.13% 2023 $ 34,000 $ 232,400 Term Loan, Unsecured 1.13% 2024 350,000 — Term Loan, Unsecured 1.30% 2021 — 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 1,384,000 1,482,400 Secured Mortgage Notes: Fifth Third Center 3.37% 2026 134,529 137,057 Terminus 100 5.25% 2023 112,524 114,997 Colorado Tower 3.45% 2026 112,786 114,660 Promenade 4.27% 2022 89,952 92,593 Domain 10 (3) 3.75% 2024 76,874 78,232 Terminus 200 3.79% 2023 73,015 74,354 Legacy Union One 4.24% 2023 66,000 66,000 665,680 677,893 $ 2,049,680 $ 2,160,293 Unamortized premium 4,826 7,574 Unamortized loan costs (6,907) (5,148) Total Notes Payable $ 2,047,599 $ 2,162,719 (1) Interest rate as of September 30, 2021. (2) Weighted average maturity of notes payable outstanding at September 30, 2021 was 4.39 years. (3) At December 31, 2020, this mortgage note was secured by the Company's 816 Congress property. 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% and 0.45%, based on leverage. At September 30, 2021, 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 $966.0 million at September 30, 2021. Term Loan On June 28 2021, the Company entered into an Amended and Restated Term Loan Agreement (the "New Term Loan") that amended the former term loan agreement. Under the New Term Loan, the Company has borrowed $350 million that matures on August 30, 2024 with options to, on up to four successive occasions, extend the maturity date for an additional 180 days. The New Term Loan has financial covenants consistent with those of the Credit Facility. The interest rate applicable to the New 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 Eurodollar Rate Loans plus a spread of between 1.05% and 1.65%, (2) the current LIBOR Daily Floating plus a spread of between 1.05% and 1.65%, or (3) the interest rate applicable to Base Rate Loans plus a spread of between 0.05% and 0.65%. At September 30, 2021, the New Term Loan's spread over LIBOR was 1.05%. The Company is in compliance with all covenants of the New Term Loan. Prior to June 28, 2021, the Company had a $250 million unsecured term loan (the "Old Term Loan") that was scheduled to mature on December 2, 2021. The Old Term Loan had financial covenants consistent with those of the Credit Facility. The interest rate applicable to the Old Term Loan varied according to the Company’s leverage ratio and could have, at the election of the Company, been 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%, plus a spread of between 0.00% and 0.75%, based on leverage. Unsecured Senior Notes The Company has unsecured senior notes of $1.0 billion that were funded in five tranches. The first tranche of $100 million is due in 2027 and has a fixed annual interest rate of 4.09%. The second tranche of $250 million is due in 2025 and has a fixed annual interest rate of 3.91%. The third tranche of $125 million is due in 2027 and has a fixed annual interest rate of 3.78%. The fourth tranche of $250 million is due in 2028 and has a fixed annual interest rate of 3.86%. The fifth tranche of $275 million is due in 2029 and has a fixed annual interest rate of 3.95%. The unsecured senior notes contain financial covenants that require, among other things, the maintenance of an unencumbered interest coverage ratio of at least 1.75x; 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 senior notes also contain customary representations and warranties and affirmative and negative covenants, as well as customary events of default. The amounts outstanding under the senior notes may be accelerated upon the occurrence of any events of default. The Company is in compliance with all covenants of the unsecured senior notes. Secured Mortgage Notes In June of 2021, the Company executed a collateral substitution for the mortgage previously secured by the Company's 816 Congress property in Austin. The mortgage is now secured by the Company's Domain 10 property in Austin. All other terms of the note were unchanged. On February 3, 2020, the Company prepaid in full, without penalty, the $23.0 million Meridian Mark Plaza mortgage note. As of September 30, 2021, the Company had $665.7 million outstanding on seven non-recourse mortgage notes. All interest rates on the secured mortgage notes are fixed. Assets with depreciated carrying values of $1.2 billion were pledged as security on these mortgage notes payable. Other Debt Information At September 30, 2021 and December 31, 2020, the estimated fair value of the Company’s notes payable was $2.2 billion and $2.3 billion, respectively, calculated by discounting the debt's remaining contractual cash flows at estimated rates at which similar loans could have been obtained at September 30, 2021 and December 31, 2020. The estimate of the current market rate, which is the most significant input in the discounted cash flow calculation, is intended to replicate debt of similar maturity and loan-to-value relationship. These fair value calculations are considered to be Level 2 under the guidelines as set forth in ASC 820, as the Company utilizes market rates for similar type loans from third party brokers. For the three and nine months ended September 30, 2021 and 2020, interest expense was recorded as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Total interest incurred $ 18,181 $ 17,780 $ 54,775 $ 56,944 Interest capitalized (1,472) (2,722) (4,202) (11,989) Total interest expense $ 16,709 $ 15,058 $ 50,573 $ 44,955

Other Liabilities

Other Liabilities	9 Months Ended
Other Liabilities	Sep. 30, 2021
Other Liabilities Disclosure [Abstract]
OTHER LIABILITIES	OTHER LIABILITIES Other liabilities on the consolidated balance sheets as of September 30, 2021 and December 31, 2020 included the following (in thousands): 2021 2020 Ground lease liability $ 58,547 $ 58,619 Prepaid rent 32,801 30,479 Security deposits 12,806 13,098 Restricted stock unit liability 6,683 10,613 Other liabilities 4,763 5,294 $ 115,600 $ 118,103

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments The Company had outstanding performance bonds totaling $527,000 at September 30, 2021. As a lessor, the Company had $244.0 million in future obligations under leases to fund tenant improvements and other future construction obligations at September 30, 2021. 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 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 condensed consolidated financial statements as of and for the three and nine months ended September 30, 2021 and September 30, 2020 have been prepared in light of these circumstances without any impairments on held for use long-lived investments or significant valuation adjustments to amounts due from tenants. However, circumstances related to the COVID-19 pandemic may result in recording impairments or material valuation adjustments to amounts due from tenants in future periods.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2021
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY In the third quarter of 2021, the Company entered into an Equity Distribution Agreement with six financial institutions known as an at-the-market stock offering program ("ATM program"), under which the Company may offer and sell shares of its common stock from time to time in "at-the-market" offerings with an aggregate gross sales price of up to $500 million. In connection with the ATM program, Cousins may, at its discretion, enter into forward equity sale agreements. The use of a forward equity sale agreement would allow the Company to lock in a share price on the sale of shares of its common stock at the time the agreement is executed, but defer receiving the proceeds from the sale of shares until a later date, allowing the Company to better align such funding with its capital needs. Sales of shares of Cousins' stock through its banking relationships, if any, are made in amounts and at times to be determined by Cousins from time to time, but the Company has no obligation to sell any of the shares in the offering and may suspend sales in connection with the offering at any time. Sales of Cousins' common stock under forward equity sale agreements, if undertaken, meet the derivatives and hedging guidance scope exception as the contracts are related to the Company's own stock. To date, there have been no material sales under forward equity sale agreements, and the Company has not received proceeds related to the issuance of any shares under the ATM program. To the extent unsettled shares sold under forward equity sale agreements are potentially dilutive at period end under the treasury stock method, the impact of such dilution is disclosed in the calculation included in Note 13. 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. After this redemption, the Company no longer has any preferred stock outstanding.

Revenue Recognition

Revenue Recognition	9 Months Ended
Revenue Recognition	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION The Company categorizes its primary sources of revenue into revenue from contracts with customers and other revenue accounted for as leases under ASC 842 as follows: • Rental property revenues consist of (1) contractual revenues from leases recognized on a straight-line basis over the term of the respective lease; (2) percentage rents recognized once a specified sales target is achieved; (3) parking revenue; (4) termination fees; and (5) the reimbursement of the tenants' share of real estate taxes, insurance, and other operating expenses. The Company's leases typically include renewal options and are classified and accounted for as operating leases. Rental property revenues are accounted for in accordance with the guidance set forth in ASC 842. • Fee income consists of development fees, management fees, and leasing fees earned from unconsolidated joint ventures and from third parties. Fee income is accounted for in accordance with the guidance set forth in ASC 606. For the three and nine months ended September 30, 2021, the Company recognized rental property revenues of $185.5 million and $552.1 million, respectively, of which $52.3 million and $148.3 million, respectively, represented variable rental revenue. For the three and nine months ended September 30, 2020, the Company recognized rental property revenues of $179.0 million and $543.3 million, respectively, of which $47.1 million and $145.4 million, respectively, represented variable rental revenue. For the three and nine months ended September 30, 2021, the Company recognized fee and other revenue of $3.2 million and $12.8 million, respectively. For the three and nine months ended September 30, 2020, the Company recognized fee and other revenue of $4.4 million and $13.9 million, respectively.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The Company maintains the Cousins Properties Incorporated 2019 Omnibus Incentive Stock Plan (the "2019 Plan") under which the Company has several types of stock-based compensation — stock options, restricted stock, and restricted stock units ("RSUs"). 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"). Since first quarter 2019, there have been no awards made or permitted under the 2009 Plan or RSU Plan. Employee Awards The Company's stock compensation expense for the three and nine months ended September 30, 2021 relates to restricted stock and RSUs awarded in 2021, 2020, 2019, and 2018. Stock compensation expense for the three and nine months ended September 30, 2020 relates to restricted stock and RSUs awarded in 2020, 2019, 2018, and 2017. Restricted stock, the 2021 RSUs, and the 2020 RSUs are equity-classified awards (settled in shares of the Company) for which compensation expense per share is fixed. The 2019, 2018, and 2017 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 the three and nine months ended September 30, 2021 and 2020, stock-based compensation expense, net of forfeitures, was recorded as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Equity-classified awards: Restricted stock $ 682 $ 568 $ 1,995 $ 2,016 Market based RSUs 587 284 1,946 998 Performance based RSUs 203 78 677 340 Total equity-classified award expense, net of forfeitures 1,472 930 4,618 3,354 Liability-classified awards Market based RSUs 827 503 1,597 942 Performance based RSUs 83 (48) 340 (133) Time vested RSUs 149 82 522 361 Dividend equivalent units 24 66 76 193 Total liability-classified award expense, net of forfeitures 1,083 603 2,535 1,363 Total stock-based compensation expense, $ 2,555 $ 1,533 $ 7,153 $ 4,717 Information on the Company's stock compensation plan, including information on the Company's equity-classified and liability-classified awards, is discussed in note 16 of the notes to consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. Grants of Equity-Classified Awards Under the 2019 Plan, in February 2021 the Company granted three types of equity-classified awards to key employees: (1) RSUs based on the Total Stockholder Return ("TSR") of the Company, as defined in the award documents, 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”), and (3) 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 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 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 performance period for the Performance-based RSUs and TSR measurement period for the Market-based RSUs awarded is three years starting on January 1 of the year of issuance and ending on December 31. 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 restricted stock vests ratably over three years from the grant 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. The following table summarizes the grants of equity-classified awards made by the Company in February 2021: Shares and Targeted Units Granted Market-based RSUs 101,791 Performance-based RSUs 43,622 Restricted stock 102,262 Director grants 185 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 February 2021: Assumptions for RSUs Granted Volatility (1) 37.50 % Risk-free rate (2) 0.17 % 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 as reported by the Federal Reserve in the H.15 release. (3) Betas are calculated with up to three years of daily stock price data. Director Awards

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2021 and 2020 (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Earnings per Common Share - basic: Numerator: Net income $ 54,136 $ 28,255 $ 111,507 $ 226,800 Net income attributable to noncontrolling interests in CPLP from continuing operations (9) (5) (20) (312) Net income attributable to other noncontrolling interests (109) (135) (206) (329) Net income available to common stockholders $ 54,018 $ 28,115 $ 111,281 $ 226,159 Denominator: Weighted average common shares - basic 148,688 148,566 148,659 148,181 Net income per common share - basic $ 0.36 $ 0.19 $ 0.75 $ 1.53 Earnings per common share - diluted: Numerator: Net income $ 54,136 $ 28,255 $ 111,507 $ 226,800 Net income attributable to other noncontrolling interests (109) (135) (206) (329) Net income available for common stockholders before allocation of net income attributable to noncontrolling interests in CPLP $ 54,027 $ 28,120 $ 111,301 $ 226,471 Denominator: Weighted average common shares - basic 148,688 148,566 148,659 148,181 Add: Potential dilutive common shares - stock options — 3 1 5 Potential dilutive common shares - restricted stock units, less shares assumed purchased at market price 59 12 58 12 Weighted average units of CPLP convertible into common shares 25 25 25 388 Weighted average common shares - diluted 148,772 148,606 148,743 148,586 Net income per common share - diluted $ 0.36 $ 0.19 $ 0.75 $ 1.52

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows - Supplemental Information	9 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Elements [Abstract]
CONSOLIDATED STATEMENTS OF CASH FLOWS - SUPPLEMENTAL INFORMATION	CONSOLIDATED STATEMENTS OF CASH FLOWS - SUPPLEMENTAL INFORMATION Supplemental information related to the cash flows, including significant non-cash activity affecting the consolidated statement of cash flows, for the nine months ended September 30, 2021 and 2020 is as follows (in thousands): 2021 2020 Interest paid $ 61,235 $ 56,761 Income taxes paid 155 — Non-Cash Activity: Transfer from operating properties and related assets and liabilities to assets and 249,365 — Common stock dividends declared and accrued 46,319 44,569 Transfers from projects under development to operating properties — 443,932 Transfer from land held and other assets to projects under development — 29,121 Change in accrued property, acquisition, development, and tenant expenditures — 35,707 The following table provides a reconciliation of cash, cash equivalents, and restricted cash recorded on the consolidated balance sheets to cash, cash equivalents, and restricted cash in the consolidated statements of cash flows (in thousands): September 30, 2021 December 31, 2020 Cash and cash equivalents $ 5,532 $ 4,290 Restricted cash 1,236 1,848 Total cash, cash equivalents, and restricted cash $ 6,768 $ 6,138

Reportable Segments

Reportable Segments	9 Months Ended
Reportable Segments	Sep. 30, 2021
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 Other. Included in the Other property type are apartments, apartment retail, and the College Street Garage. The segments by geographical region are Atlanta, Austin, Charlotte, Dallas, Phoenix, Tampa, and Other. Included in the Other geographical region are properties located in Chapel Hill, Houston, Fort Worth (sold in April 2021), and Cherry Hill, New Jersey (sold in February 2020). These reportable segments represent an aggregation of operating segments reported to the Chief Operating Decision Maker (our Chief Executive Officer) 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 fee income, other revenue, 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 the three and nine months ended September 30, 2021 and 2020 are as follows (in thousands): Three Months Ended September 30, 2021 Office Other Total Revenues: Atlanta $ 67,959 $ 369 $ 68,328 Austin 65,448 — 65,448 Charlotte 17,527 721 18,248 Dallas 4,337 — 4,337 Phoenix 12,847 — 12,847 Tampa 14,444 — 14,444 Other 8,702 1,155 9,857 Total segment revenues 191,264 2,245 193,509 Less: Company's share of rental property revenues from unconsolidated joint ventures (6,470) (1,524) (7,994) Total rental property revenues $ 184,794 $ 721 $ 185,515 Three Months Ended September 30, 2020 Office Other Total Revenues: Atlanta $ 64,742 $ 110 $ 64,852 Austin 52,008 — 52,008 Charlotte 19,567 803 20,370 Dallas 4,601 — 4,601 Phoenix 12,689 — 12,689 Tampa 13,179 — 13,179 Other 16,354 1,193 17,547 Total segment revenues 183,140 2,106 185,246 Less: Company's share of rental property revenues from unconsolidated joint ventures (4,920) (1,302) (6,222) Total rental property revenues $ 178,220 $ 804 $ 179,024 Nine Months Ended September 30, 2021 Office Other Total Revenues: Atlanta $ 198,461 $ 1,039 $ 199,500 Austin 183,158 — 183,158 Charlotte 60,578 1,873 62,451 Dallas 13,351 — 13,351 Phoenix 38,067 — 38,067 Tampa 43,180 — 43,180 Other 31,825 3,930 35,755 Total segment revenues 568,620 6,842 575,462 Less: Company's share of rental property revenues from unconsolidated joint ventures (18,405) (4,969) (23,374) Total rental property revenues $ 550,215 $ 1,873 $ 552,088 Nine Months Ended September 30, 2020 Office Other Total Revenues: Atlanta $ 193,117 $ 234 $ 193,351 Austin 155,009 — 155,009 Charlotte 74,057 1,354 75,411 Dallas 13,559 — 13,559 Phoenix 37,932 — 37,932 Tampa 40,203 — 40,203 Other 46,092 3,631 49,723 Total segment revenues 559,969 5,219 565,188 Less: Company's share of rental property revenues from unconsolidated joint ventures (18,072) (3,864) (21,936) Total rental property revenues $ 541,897 $ 1,355 $ 543,252 NOI by reportable segment for the three and nine months ended September 30, 2021 and 2020 are as follows (in thousands): Three Months Ended September 30, 2021 Office Other Total Net Operating Income: Atlanta $ 44,333 $ 180 $ 44,513 Austin 38,532 — 38,532 Charlotte 12,491 361 12,852 Dallas 3,424 — 3,424 Phoenix 9,299 — 9,299 Tampa 9,434 — 9,434 Other 5,347 747 6,094 Total Net Operating Income $ 122,860 $ 1,288 $ 124,148 Three Months Ended September 30, 2020 Office Other Total Net Operating Income: Atlanta $ 43,399 $ (11) $ 43,388 Austin 31,639 — 31,639 Charlotte 14,086 535 14,621 Dallas 3,688 — 3,688 Phoenix 9,205 — 9,205 Tampa 8,230 — 8,230 Other 8,483 762 9,245 Total Net Operating Income $ 118,730 $ 1,286 $ 120,016 Nine Months Ended September 30, 2021 Office Other Total Net Operating Income: Atlanta $ 130,551 $ 433 $ 130,984 Austin 108,764 — 108,764 Charlotte 43,176 796 43,972 Dallas 10,546 — 10,546 Phoenix 27,252 — 27,252 Tampa 27,755 — 27,755 Other 18,142 2,562 20,704 Total Net Operating Income $ 366,186 $ 3,791 $ 369,977 Nine Months Ended September 30, 2020 Office Other Total Net Operating Income: Atlanta $ 129,992 $ (113) $ 129,879 Austin 92,161 — 92,161 Charlotte 50,302 912 51,214 Dallas 10,907 — 10,907 Phoenix 27,920 — 27,920 Tampa 24,372 — 24,372 Other 26,008 2,469 28,477 Total Net Operating Income $ 361,662 $ 3,268 $ 364,930 The following reconciles Net Operating Income to net income for each of the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net Operating Income $ 124,148 $ 120,016 $ 369,977 $ 364,930 Net operating income from unconsolidated joint ventures (5,762) (4,208) (15,953) (14,436) Fee income 3,094 4,350 12,426 13,772 Termination fee income 1,775 372 2,599 3,755 Other income 123 6 405 169 Reimbursed expenses (383) (373) (1,149) (1,216) General and administrative expenses (7,968) (5,658) (22,014) (19,853) Interest expense (16,709) (15,058) (50,573) (44,955) Depreciation and amortization (72,073) (71,498) (214,399) (215,980) Transaction costs — — — (428) Other expenses (421) (723) (1,835) (1,841) Income from unconsolidated joint ventures 2,128 1,611 5,826 6,751 Gain (loss) on sales of investments in unconsolidated joint ventures 13,121 (59) 13,160 45,940 Gain (loss) on investment property transactions 13,063 (523) 13,037 90,192 Net income $ 54,136 $ 28,255 $ 111,507 $ 226,800

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation: The condensed consolidated financial statements are unaudited and were prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, these financial statements reflect all adjustments necessary (which adjustments are of a normal and recurring nature) for the fair presentation of the Company's financial position as of September 30, 2021 and the results of operations for the three and nine months ended September 30, 2021 and 2020. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of results expected for the full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to the rules and regulations of the SEC. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. The accounting policies employed are substantially the same as those shown in note 2 to the consolidated financial statements included therein.

Real Estate (Tables)

Real Estate (Tables)	9 Months Ended
Real Estate (Tables)	Sep. 30, 2021
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): 725 Ponce Tangible assets: Operating properties $ 292,946 Tangible assets 292,946 Intangible assets: In-place leases 12,788 Above market leases 1,770 Intangible assets 14,558 Intangible liabilities: Above market leases (6,739) Intangible liabilities (6,739) Total net assets acquired $ 300,765
Schedule of assets and liabilities of properties held for sale	The Company's Burnett Plaza property in Fort Worth was classified as held for sale as of December 31, 2020 as the result of the Company accepting an offer for the sale of the property in the fourth quarter of 2020. The major classes of assets and liabilities of those properties held for sale were as follows (in thousands): December 31, 2020 Real estate assets and other assets held for sale Operating property, net of accumulated depreciation of $8,123 $ 106,864 Notes and accounts receivable 439 Deferred rents receivable 2,480 Intangible assets, net of accumulated amortization of $6,065 15,830 Other assets 133 Total real estate assets and other assets held for sale $ 125,746 Liabilities of real estate assets held for sale Accounts payable and accrued expenses $ 7,399 Deferred income 44 Intangible liabilities, net of accumulated amortization of $1,205 3,014 Other liabilities 2,149 Total liabilities of real estate assets held for sale $ 12,606

Investment in Unconsolidated _2

Investment in Unconsolidated Joint Ventures (Tables)	9 Months Ended
Investment in Unconsolidated Joint Ventures (Tables)	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Summary of Financial Data and Principal Activities of Unconsolidated Joint Ventures	The following information summarizes financial data and principal activities of the Company's unconsolidated joint ventures. The information included in the following table entitled summary of financial position is as of September 30, 2021 and December 31, 2020 (in thousands). The information included in the summary of operations table is for the nine months ended September 30, 2021 and 2020 (in thousands): Total Assets Total Debt Total Equity (Deficit) Company’s Investment SUMMARY OF FINANCIAL POSITION: 2021 2020 2021 2020 2021 2020 2021 2020 Neuhoff Holdings LLC 111,250 — 26,932 — 84,318 — 42,159 — Austin 300 Colorado Project, LP 173,515 165,586 92,252 86,848 70,167 68,567 38,919 38,488 AMCO 120 WT Holdings, LLC 84,640 85,449 — — 83,406 84,311 15,450 15,735 HICO Victory Center LP 16,230 16,544 — — 15,929 15,709 10,709 10,595 715 Ponce Holdings LLC 8,051 — — — 8,016 — 4,028 — DC Charlotte Plaza LLLP — 173,704 — — — 90,648 6 47,941 Carolina Square Holdings LP 113,129 118,616 133,264 77,034 (33,999) 21,888 (15,671) (1) 12,430 Crawford Long - CPI, LLC 26,450 29,641 64,996 66,423 (40,203) (38,253) (19,326) (1) (18,289) (1) Other 112 1,313 — — 118 1,316 80 292 $ 533,377 $ 590,853 $ 317,444 $ 230,305 $ 187,752 $ 244,186 $ 76,354 $ 107,192 Total Revenues Net Income (Loss) Company's Share of Income (Loss) SUMMARY OF OPERATIONS: 2021 2020 2021 2020 2021 2020 DC Charlotte Plaza LLLP 15,209 15,476 5,494 5,597 2,549 2,583 Crawford Long - CPI, LLC 9,743 9,784 3,049 2,767 1,412 1,329 Carolina Square Holdings LP 12,478 10,792 1,713 1,936 776 950 Austin 300 Colorado Project, LP 6,388 264 1,600 90 773 45 HICO Victory Center LP 199 241 199 241 111 121 AMCO 120 WT Holdings, LLC 6,385 1,564 234 (2,106) 38 (383) 715 Ponce Holdings LLC 25 — 11 — 7 — Other 378 6,920 271 3,477 160 2,106 $ 50,805 $ 45,041 $ 12,571 $ 12,002 $ 5,826 $ 6,751 (1) Negative bases are included in deferred income on the consolidated balance sheets.

Intangible Assets and Liabili_2

Intangible Assets and Liabilities (Tables)	9 Months Ended
Intangible Assets and Liabilities (Tables)	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	At September 30, 2021 and December 31, 2020, intangible assets included the following (in thousands): 2021 2020 In-place leases, net of accumulated amortization of $144,765 and $212,413 in 2021 and 2020, respectively $ 119,958 $ 145,290 Above-market rents, net of accumulated amortization of $25,771 and $33,548 in 2021 and 2020, respectively 19,524 24,960 Below-market ground lease, net of accumulated amortization of $1,380 and $1,173 in 2021 and 2020, respectively 17,033 17,240 Goodwill 1,674 1,674 $ 158,189 $ 189,164
Schedule of Intangible Liabilities	At September 30, 2021 and December 31, 2020, intangible liabilities included the following (in thousands): 2021 2020 Below-market rents, net of accumulated amortization of $55,946 and $73,612 in 2021 and 2020, respectively $ 54,929 $ 68,219 Above-market ground lease, net of accumulated amortization of $389 and $354 in 2021 and 2020, respectively 1,592 1,627 $ 56,521 $ 69,846
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): In-Place Above-Market Below-Market Ground Lease Below-Market Above-Market 2021 (three months) $ 9,587 $ 1,333 $ 69 $ (4,248) $ (12) 2022 25,871 4,575 276 (10,284) (46) 2023 21,515 3,748 276 (8,662) (46) 2024 17,484 2,971 276 (7,942) (46) 2025 13,722 1,975 276 (7,366) (46) Thereafter 31,779 4,922 15,860 (16,427) (1,396) $ 119,958 $ 19,524 $ 17,033 $ (54,929) $ (1,592)

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
Other Assets (Tables)	Sep. 30, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets on the consolidated balance sheets as of September 30, 2021 and December 31, 2020 included the following (in thousands): 2021 2020 Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $18,886 and $32,582 in 2021 and 2020, respectively $ 14,891 $ 17,211 Predevelopment costs and earnest money 24,988 17,841 Prepaid expenses and other assets 9,368 6,095 Lease inducements, net of accumulated amortization of $3,678 and $3,316 in 2021 and 2020, respectively 6,347 5,771 Line of credit deferred financing costs, net of accumulated amortization of $5,597 and $4,461 in 2021 and 2020, respectively 1,885 3,021 $ 57,479 $ 49,939

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
Notes Payable (Tables)	Sep. 30, 2021
Debt Disclosure [Abstract]
Summary of Terms of Notes Payable	The following table summarizes the terms of notes payable outstanding at September 30, 2021 and December 31, 2020 ($ in thousands): Description Interest Rate (1) Maturity (2) 2021 2020 Unsecured Notes: Credit Facility, Unsecured 1.13% 2023 $ 34,000 $ 232,400 Term Loan, Unsecured 1.13% 2024 350,000 — Term Loan, Unsecured 1.30% 2021 — 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 1,384,000 1,482,400 Secured Mortgage Notes: Fifth Third Center 3.37% 2026 134,529 137,057 Terminus 100 5.25% 2023 112,524 114,997 Colorado Tower 3.45% 2026 112,786 114,660 Promenade 4.27% 2022 89,952 92,593 Domain 10 (3) 3.75% 2024 76,874 78,232 Terminus 200 3.79% 2023 73,015 74,354 Legacy Union One 4.24% 2023 66,000 66,000 665,680 677,893 $ 2,049,680 $ 2,160,293 Unamortized premium 4,826 7,574 Unamortized loan costs (6,907) (5,148) Total Notes Payable $ 2,047,599 $ 2,162,719 (1) Interest rate as of September 30, 2021. (2) Weighted average maturity of notes payable outstanding at September 30, 2021 was 4.39 years.
Summary of Interest Recorded	For the three and nine months ended September 30, 2021 and 2020, interest expense was recorded as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Total interest incurred $ 18,181 $ 17,780 $ 54,775 $ 56,944 Interest capitalized (1,472) (2,722) (4,202) (11,989) Total interest expense $ 16,709 $ 15,058 $ 50,573 $ 44,955

Other Liabilities (Tables)

Other Liabilities (Tables)	9 Months Ended
Other Liabilities (Tables)	Sep. 30, 2021
Other Liabilities Disclosure [Abstract]
Summary of Other Liabilities	Other liabilities on the consolidated balance sheets as of September 30, 2021 and December 31, 2020 included the following (in thousands): 2021 2020 Ground lease liability $ 58,547 $ 58,619 Prepaid rent 32,801 30,479 Security deposits 12,806 13,098 Restricted stock unit liability 6,683 10,613 Other liabilities 4,763 5,294 $ 115,600 $ 118,103

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
Stock-Based Compensation (Tables)	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense, Net of Forfeitures	For the three and nine months ended September 30, 2021 and 2020, stock-based compensation expense, net of forfeitures, was recorded as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Equity-classified awards: Restricted stock $ 682 $ 568 $ 1,995 $ 2,016 Market based RSUs 587 284 1,946 998 Performance based RSUs 203 78 677 340 Total equity-classified award expense, net of forfeitures 1,472 930 4,618 3,354 Liability-classified awards Market based RSUs 827 503 1,597 942 Performance based RSUs 83 (48) 340 (133) Time vested RSUs 149 82 522 361 Dividend equivalent units 24 66 76 193 Total liability-classified award expense, net of forfeitures 1,083 603 2,535 1,363 Total stock-based compensation expense, $ 2,555 $ 1,533 $ 7,153 $ 4,717
Summary of grants of equity and liability classified award activity	The following table summarizes the grants of equity-classified awards made by the Company in February 2021: Shares and Targeted Units Granted Market-based RSUs 101,791 Performance-based RSUs 43,622 Restricted stock 102,262 Director grants 185
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 February 2021: Assumptions for RSUs Granted Volatility (1) 37.50 % Risk-free rate (2) 0.17 % 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 as reported by the Federal Reserve in the H.15 release. (3) Betas are calculated with up to three years of daily stock price data.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2021 and 2020 (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Earnings per Common Share - basic: Numerator: Net income $ 54,136 $ 28,255 $ 111,507 $ 226,800 Net income attributable to noncontrolling interests in CPLP from continuing operations (9) (5) (20) (312) Net income attributable to other noncontrolling interests (109) (135) (206) (329) Net income available to common stockholders $ 54,018 $ 28,115 $ 111,281 $ 226,159 Denominator: Weighted average common shares - basic 148,688 148,566 148,659 148,181 Net income per common share - basic $ 0.36 $ 0.19 $ 0.75 $ 1.53 Earnings per common share - diluted: Numerator: Net income $ 54,136 $ 28,255 $ 111,507 $ 226,800 Net income attributable to other noncontrolling interests (109) (135) (206) (329) Net income available for common stockholders before allocation of net income attributable to noncontrolling interests in CPLP $ 54,027 $ 28,120 $ 111,301 $ 226,471 Denominator: Weighted average common shares - basic 148,688 148,566 148,659 148,181 Add: Potential dilutive common shares - stock options — 3 1 5 Potential dilutive common shares - restricted stock units, less shares assumed purchased at market price 59 12 58 12 Weighted average units of CPLP convertible into common shares 25 25 25 388 Weighted average common shares - diluted 148,772 148,606 148,743 148,586 Net income per common share - diluted $ 0.36 $ 0.19 $ 0.75 $ 1.52

Consolidated Statements of Ca_3

Consolidated Statements of Cash Flows - Supplemental Information (Tables)	9 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Supplemental Information Related to Cash Flows	Supplemental information related to the cash flows, including significant non-cash activity affecting the consolidated statement of cash flows, for the nine months ended September 30, 2021 and 2020 is as follows (in thousands): 2021 2020 Interest paid $ 61,235 $ 56,761 Income taxes paid 155 — Non-Cash Activity: Transfer from operating properties and related assets and liabilities to assets and 249,365 — Common stock dividends declared and accrued 46,319 44,569 Transfers from projects under development to operating properties — 443,932 Transfer from land held and other assets to projects under development — 29,121 Change in accrued property, acquisition, development, and tenant expenditures — 35,707
Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash recorded on the consolidated balance sheets to cash, cash equivalents, and restricted cash in the consolidated statements of cash flows (in thousands): September 30, 2021 December 31, 2020 Cash and cash equivalents $ 5,532 $ 4,290 Restricted cash 1,236 1,848 Total cash, cash equivalents, and restricted cash $ 6,768 $ 6,138
Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash recorded on the consolidated balance sheets to cash, cash equivalents, and restricted cash in the consolidated statements of cash flows (in thousands): September 30, 2021 December 31, 2020 Cash and cash equivalents $ 5,532 $ 4,290 Restricted cash 1,236 1,848 Total cash, cash equivalents, and restricted cash $ 6,768 $ 6,138

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
Reportable Segments (Tables)	Sep. 30, 2021
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	Segment net income, amount of capital expenditures, and total assets are not presented in the following tables because management does not utilize these measures when analyzing its segments or when making resource allocation decisions. Information on the Company's segments along with a reconciliation of NOI to net income for the three and nine months ended September 30, 2021 and 2020 are as follows (in thousands): Three Months Ended September 30, 2021 Office Other Total Revenues: Atlanta $ 67,959 $ 369 $ 68,328 Austin 65,448 — 65,448 Charlotte 17,527 721 18,248 Dallas 4,337 — 4,337 Phoenix 12,847 — 12,847 Tampa 14,444 — 14,444 Other 8,702 1,155 9,857 Total segment revenues 191,264 2,245 193,509 Less: Company's share of rental property revenues from unconsolidated joint ventures (6,470) (1,524) (7,994) Total rental property revenues $ 184,794 $ 721 $ 185,515 Three Months Ended September 30, 2020 Office Other Total Revenues: Atlanta $ 64,742 $ 110 $ 64,852 Austin 52,008 — 52,008 Charlotte 19,567 803 20,370 Dallas 4,601 — 4,601 Phoenix 12,689 — 12,689 Tampa 13,179 — 13,179 Other 16,354 1,193 17,547 Total segment revenues 183,140 2,106 185,246 Less: Company's share of rental property revenues from unconsolidated joint ventures (4,920) (1,302) (6,222) Total rental property revenues $ 178,220 $ 804 $ 179,024 Nine Months Ended September 30, 2021 Office Other Total Revenues: Atlanta $ 198,461 $ 1,039 $ 199,500 Austin 183,158 — 183,158 Charlotte 60,578 1,873 62,451 Dallas 13,351 — 13,351 Phoenix 38,067 — 38,067 Tampa 43,180 — 43,180 Other 31,825 3,930 35,755 Total segment revenues 568,620 6,842 575,462 Less: Company's share of rental property revenues from unconsolidated joint ventures (18,405) (4,969) (23,374) Total rental property revenues $ 550,215 $ 1,873 $ 552,088 Nine Months Ended September 30, 2020 Office Other Total Revenues: Atlanta $ 193,117 $ 234 $ 193,351 Austin 155,009 — 155,009 Charlotte 74,057 1,354 75,411 Dallas 13,559 — 13,559 Phoenix 37,932 — 37,932 Tampa 40,203 — 40,203 Other 46,092 3,631 49,723 Total segment revenues 559,969 5,219 565,188 Less: Company's share of rental property revenues from unconsolidated joint ventures (18,072) (3,864) (21,936) Total rental property revenues $ 541,897 $ 1,355 $ 543,252
Reconciliation of NOI to Net Income Available to Common Stockholders	NOI by reportable segment for the three and nine months ended September 30, 2021 and 2020 are as follows (in thousands): Three Months Ended September 30, 2021 Office Other Total Net Operating Income: Atlanta $ 44,333 $ 180 $ 44,513 Austin 38,532 — 38,532 Charlotte 12,491 361 12,852 Dallas 3,424 — 3,424 Phoenix 9,299 — 9,299 Tampa 9,434 — 9,434 Other 5,347 747 6,094 Total Net Operating Income $ 122,860 $ 1,288 $ 124,148 Three Months Ended September 30, 2020 Office Other Total Net Operating Income: Atlanta $ 43,399 $ (11) $ 43,388 Austin 31,639 — 31,639 Charlotte 14,086 535 14,621 Dallas 3,688 — 3,688 Phoenix 9,205 — 9,205 Tampa 8,230 — 8,230 Other 8,483 762 9,245 Total Net Operating Income $ 118,730 $ 1,286 $ 120,016 Nine Months Ended September 30, 2021 Office Other Total Net Operating Income: Atlanta $ 130,551 $ 433 $ 130,984 Austin 108,764 — 108,764 Charlotte 43,176 796 43,972 Dallas 10,546 — 10,546 Phoenix 27,252 — 27,252 Tampa 27,755 — 27,755 Other 18,142 2,562 20,704 Total Net Operating Income $ 366,186 $ 3,791 $ 369,977 Nine Months Ended September 30, 2020 Office Other Total Net Operating Income: Atlanta $ 129,992 $ (113) $ 129,879 Austin 92,161 — 92,161 Charlotte 50,302 912 51,214 Dallas 10,907 — 10,907 Phoenix 27,920 — 27,920 Tampa 24,372 — 24,372 Other 26,008 2,469 28,477 Total Net Operating Income $ 361,662 $ 3,268 $ 364,930 The following reconciles Net Operating Income to net income for each of the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Net Operating Income $ 124,148 $ 120,016 $ 369,977 $ 364,930 Net operating income from unconsolidated joint ventures (5,762) (4,208) (15,953) (14,436) Fee income 3,094 4,350 12,426 13,772 Termination fee income 1,775 372 2,599 3,755 Other income 123 6 405 169 Reimbursed expenses (383) (373) (1,149) (1,216) General and administrative expenses (7,968) (5,658) (22,014) (19,853) Interest expense (16,709) (15,058) (50,573) (44,955) Depreciation and amortization (72,073) (71,498) (214,399) (215,980) Transaction costs — — — (428) Other expenses (421) (723) (1,835) (1,841) Income from unconsolidated joint ventures 2,128 1,611 5,826 6,751 Gain (loss) on sales of investments in unconsolidated joint ventures 13,121 (59) 13,160 45,940 Gain (loss) on investment property transactions 13,063 (523) 13,037 90,192 Net income $ 54,136 $ 28,255 $ 111,507 $ 226,800

Description of Business and B_3

Description of Business and Basis of Presentation - Description of Business (Details) ft² in Thousands	9 Months Ended
	Sep. 30, 2021ft²
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Distribution of taxable income to qualify as REIT, percentage	100.00%
Portfolio of real estate assets, office space area	18,500
Portfolio of real estate assets, retail space area	620
CPLP
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of partnership units owned by the Company (more than)	99.00%

Description of Business and B_4

Description of Business and Basis of Presentation - Basis of Presentation (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Assets	$ 6,977,364	$ 7,107,398
Liabilities	2,499,822	$ 2,611,860
Variable Interest Entity, Primary Beneficiary
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Assets	307,100
Liabilities	$ 305,600

Transactions with Norfolk Sou_2

Transactions with Norfolk Southern Railway Company (Details) - USD ($) $ in Thousands	Mar. 01, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets		$ 6,977,364		$ 6,977,364				$ 6,977,364	$ 7,107,398
Deferred income		76,475		76,475				76,475	62,319
NS
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contract price that is expected to be recognized as revenue	$ 52,300
Revenue recognized		2,500	$ 3,700	10,400	$ 11,200
Deferred income		$ 3,300		$ 3,300				3,300	$ 5,700
Contract with customer, liability, revenue recognized								$ 46,600
1200 Peachtree
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets	92,300
Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property purchased						$ 6,500	$ 37,000
Site Preparation Work
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property purchased	4,000
NS \| 1200 Peachtree
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase of a building	$ 82,000
Lease term	3 years
Discount on service contract price	$ 10,300
Gain or loss on derecognition of non financial asset fair value	0
Consideration for the various services component	52,300
NS \| Fees for development services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contract fees	5,000
NS \| Fees for consulting services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contract fees	32,000
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
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
NS \| Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of property	52,500
Gain from sale of property	5,000
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

Real Estate - Acquisitions (Det

Real Estate - Acquisitions (Details) ft² in Thousands, $ in Thousands	Oct. 01, 2021USD ($)ft²	Sep. 27, 2021USD ($)a	Jul. 28, 2021USD ($)ft²	Mar. 12, 2021USD ($)a	May 31, 2020USD ($)a
725 Ponce
Business Acquisition [Line Items]
Area of property \| ft²			372
Payments to acquire businesses, gross			$ 300,800
Tangible assets:
Operating properties			292,946
Tangible assets			292,946
Intangible assets:
Total intangible assets			14,558
Intangible liabilities:
Total intangible liabilities			(6,739)
Total net assets acquired			300,765
725 Ponce \| In-Place Leases
Intangible assets:
Total intangible assets			12,788
725 Ponce \| Above-Market Rents
Intangible assets:
Total intangible assets			1,770
Intangible liabilities:
Total intangible liabilities			$ (6,739)
Midtown Atlanta Land Purchase
Business Acquisition [Line Items]
Area of property \| a		0.15
Payments to acquire businesses, gross		$ 3,100
Atlanta Land Purchase
Business Acquisition [Line Items]
Area of property \| a				0.24
Payments to acquire businesses, gross				$ 8,000
Ownership percentage of partner in joint venture				95.00%
Parking Garage In Charlotte, North Carolina
Business Acquisition [Line Items]
Area of property \| a					1,550
Payments to acquire businesses, gross					$ 85,000
Tampa \| Subsequent Event
Business Acquisition [Line Items]
Area of property \| ft²	294
Payments to acquire businesses, gross	$ 144,800

Real Estate - Dispositions (Det

Real Estate - Dispositions (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations ft² in Thousands, $ in Thousands	Jul. 23, 2021USD ($)	Apr. 07, 2021USD ($)ft²	Mar. 31, 2020USD ($)ft²	Feb. 29, 2020USD ($)ft²	Jul. 01, 2021USD ($)a
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) from sale of property			$ 90,400
One South Plaza
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price	$ 271,500
Gain (loss) from sale of property	$ 13,100
A100 Mill Adjacent Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price					$ 6,400
Area of property \| a					0.7
Burnett Plaza
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price		$ 137,500
Gain (loss) from sale of property		$ (19)
Area of property \| ft²		1,000
Hearst Tower
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price			$ 455,500
Area of property \| ft²			966
Woodcrest
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales price				$ 25,300
Gain (loss) from sale of property				$ 0
Area of property \| ft²				386

Real Estate - Assets and Liabil

Real Estate - Assets and Liabilities Held-for-sale (Details) - Held-for-sale - Burnett Plaza $ in Thousands	Dec. 31, 2020USD ($)
Real estate assets and other assets held for sale
Operating properties, accumulated depreciation	$ 8,123
Operating property, net of accumulated depreciation of $8,123	106,864
Notes and accounts receivable	439
Deferred rents receivable	2,480
Intangible assets, accumulated amortization	6,065
Intangible assets, net of accumulated amortization of $6,065	15,830
Other assets	133
Total real estate assets and other assets held for sale	125,746
Liabilities of real estate assets held for sale
Accounts payable and accrued expenses	7,399
Deferred income	44
Intangible liabilities, accumulated amortization	1,205
Intangible liabilities, net of accumulated amortization of $1,205	3,014
Other liabilities	2,149
Total liabilities of real estate assets held for sale	$ 12,606

Investment in Unconsolidated _3

Investment in Unconsolidated Joint Ventures - Summary of Financial Position and Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
SUMMARY OF FINANCIAL POSITION:
Total Assets	$ 6,977,364		$ 6,977,364		$ 7,107,398
Total Equity (Deficit)	4,445,092		4,445,092		4,467,134
SUMMARY OF OPERATIONS:
Total Revenues	188,732	$ 183,380	564,919	$ 557,193
Net Income (Loss)	54,018	$ 28,115	111,281	226,159
Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION:
Total Assets	533,377		533,377		590,853
Total Debt	317,444		317,444		230,305
Total Equity (Deficit)	187,752		187,752		244,186
Company’s Investment	76,354		76,354		107,192
SUMMARY OF OPERATIONS:
Total Revenues			50,805	45,041
Net Income (Loss)			12,571	12,002
Company's Share of Income (Loss)			5,826	6,751
Neuhoff Holdings LLC \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION:
Total Assets	111,250		111,250		0
Total Debt	26,932		26,932		0
Total Equity (Deficit)	84,318		84,318		0
Company’s Investment	42,159		42,159		0
Austin 300 Colorado Project, LP \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION:
Total Assets	173,515		173,515		165,586
Total Debt	92,252		92,252		86,848
Total Equity (Deficit)	70,167		70,167		68,567
Company’s Investment	38,919		38,919		38,488
SUMMARY OF OPERATIONS:
Total Revenues			6,388	264
Net Income (Loss)			1,600	90
Company's Share of Income (Loss)			773	45
AMCO 120 WT Holdings, LLC \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION:
Total Assets	84,640		84,640		85,449
Total Debt	0		0		0
Total Equity (Deficit)	83,406		83,406		84,311
Company’s Investment	15,450		15,450		15,735
SUMMARY OF OPERATIONS:
Total Revenues			6,385	1,564
Net Income (Loss)			234	(2,106)
Company's Share of Income (Loss)			38	(383)
HICO Victory Center LP \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION:
Total Assets	16,230		16,230		16,544
Total Debt	0		0		0
Total Equity (Deficit)	15,929		15,929		15,709
Company’s Investment	10,709		10,709		10,595
SUMMARY OF OPERATIONS:
Total Revenues			199	241
Net Income (Loss)			199	241
Company's Share of Income (Loss)			111	121
715 Ponce Holdings LLC \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION:
Total Assets	8,051		8,051		0
Total Debt	0		0		0
Total Equity (Deficit)	8,016		8,016		0
Company’s Investment	4,028		4,028		0
SUMMARY OF OPERATIONS:
Total Revenues			25	0
Net Income (Loss)			11	0
Company's Share of Income (Loss)			7	0
DC Charlotte Plaza LLLP \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION:
Total Assets	0		0		173,704
Total Debt	0		0		0
Total Equity (Deficit)	0		0		90,648
Company’s Investment	6		6		47,941
SUMMARY OF OPERATIONS:
Total Revenues			15,209	15,476
Net Income (Loss)			5,494	5,597
Company's Share of Income (Loss)			2,549	2,583
Carolina Square Holdings LP \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION:
Total Assets	113,129		113,129		118,616
Total Debt	133,264		133,264		77,034
Total Equity (Deficit)	(33,999)		(33,999)		21,888
Company’s Investment	(15,671)		(15,671)		12,430
SUMMARY OF OPERATIONS:
Total Revenues			12,478	10,792
Net Income (Loss)			1,713	1,936
Company's Share of Income (Loss)			776	950
Crawford Long - CPI, LLC \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION:
Total Assets	26,450		26,450		29,641
Total Debt	64,996		64,996		66,423
Total Equity (Deficit)	(40,203)		(40,203)		(38,253)
Company’s Investment	(19,326)		(19,326)		(18,289)
SUMMARY OF OPERATIONS:
Total Revenues			9,743	9,784
Net Income (Loss)			3,049	2,767
Company's Share of Income (Loss)			1,412	1,329
Other \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
SUMMARY OF FINANCIAL POSITION:
Total Assets	112		112		1,313
Total Debt	0		0		0
Total Equity (Deficit)	118		118		1,316
Company’s Investment	$ 80		80		$ 292
SUMMARY OF OPERATIONS:
Total Revenues			378	6,920
Net Income (Loss)			271	3,477
Company's Share of Income (Loss)			$ 160	$ 2,106

Investment in Unconsolidated _4

Investment in Unconsolidated Joint Ventures - Narrative (Details) $ in Thousands, ft² in Millions	Sep. 30, 2021USD ($)a	Jul. 28, 2021USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)ft²	Feb. 29, 2020USD ($)a	Sep. 30, 2021USD ($)a	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)a	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Schedule of Equity Method Investments [Line Items]
Gain on sale of interest						$ 13,121	$ (59)	$ 13,160	$ 45,940
Contributions to unconsolidated joint ventures								46,038	3,752
Notes payable	$ 2,047,599					$ 2,047,599		2,047,599		$ 2,162,719
Repayments of notes payable								$ 12,214	$ 34,710
DC Charlotte Plaza LLLP
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50.00%					50.00%		50.00%
Area of property \| a	281,000,000					281,000,000		281,000,000
Gross purchase price	$ 60,800
Gain on sale of interest	13,100
Neuoff JV
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage		50.00%
Contributions to unconsolidated joint ventures		$ 35,100
Neuoff JV \| Construction Loan
Schedule of Equity Method Investments [Line Items]
Maximum borrowing capacity	$ 312,700					$ 312,700		$ 312,700
Neuoff JV \| Mortgages \| LIBOR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate	3.45%
Neuoff JV \| Neuhoff Holdings LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture		50.00%
715 Ponce JV
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage		50.00%
Contributions to unconsolidated joint ventures		$ 4,000
715 Ponce JV \| 715 Ponce Holdings LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture		50.00%
Carolina Square Holdings LP \| Construction Loan
Schedule of Equity Method Investments [Line Items]
Repayments of notes payable			$ 77,500
Pro-rata distribution			26,000
Carolina Square Holdings LP \| Mortgages
Schedule of Equity Method Investments [Line Items]
Notes payable			$ 135,700
Carolina Square Holdings LP \| Mortgages \| LIBOR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate			1.80%
Carolina Square Holdings LP \| NR 123 Franklin LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture			50.00%
Charlotte Gateway Village LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture				50.00%
Area of property \| ft²				1.1
Gross purchase price				$ 52,200
Gain on sale of interest				$ 44,700
Internal rate of return				17.00%
Estimated state income tax				$ 188
Wildwood Associates
Schedule of Equity Method Investments [Line Items]
Gross purchase price					$ 900
Gain on sale of interest					$ 1,300
Area of land \| a					6.3
Elimination of the remaining negative basis in the joint venture					$ 520

Intangible Assets and Liabili_3

Intangible Assets and Liabilities - Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 1,674	$ 1,674
Total intangible assets	158,189	189,164
In-Place Leases
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	144,765	212,413
Finite-lived intangible assets, net	119,958	145,290
Above-Market Rents
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	25,771	33,548
Finite-lived intangible assets, net	19,524	24,960
Below-Market Ground Lease
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	1,380	1,173
Finite-lived intangible assets, net	$ 17,033	$ 17,240

Intangible Assets and Liabili_4

Intangible Assets and Liabilities - Intangible Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible liabilities, net	$ 56,521	$ 69,846
Below-Market Rents
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	(55,946)	(73,612)
Finite-lived intangible liabilities, net	54,929	68,219
Above-Market Ground Lease
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	(389)	(354)
Finite-lived intangible liabilities, net	$ 1,592	$ 1,627

Intangible Assets and Liabili_5

Intangible Assets and Liabilities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Net amortization expense of intangible assets and liabilities	$ 8.2	$ 10.2	$ 24.6	$ 33.7

Intangible Assets and Liabili_6

Intangible Assets and Liabilities - Intangibles - Future Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Future Amortization of Intangible Liabilities:
Finite-lived intangible liabilities, net	$ (56,521)	$ (69,846)
Below-Market Rents
Future Amortization of Intangible Liabilities:
2021 (three months)	(4,248)
2022	(10,284)
2023	(8,662)
2024	(7,942)
2025	(7,366)
Thereafter	(16,427)
Finite-lived intangible liabilities, net	(54,929)	(68,219)
Above-Market Ground Lease
Future Amortization of Intangible Liabilities:
2021 (three months)	(12)
2022	(46)
2023	(46)
2024	(46)
2025	(46)
Thereafter	(1,396)
Finite-lived intangible liabilities, net	(1,592)	(1,627)
In-Place Leases
Future Amortization of Intangible Assets:
2021 (three months)	9,587
2022	25,871
2023	21,515
2024	17,484
2025	13,722
Thereafter	31,779
Finite-lived intangible assets, net	119,958	145,290
Above-Market Rents
Future Amortization of Intangible Assets:
2021 (three months)	1,333
2022	4,575
2023	3,748
2024	2,971
2025	1,975
Thereafter	4,922
Finite-lived intangible assets, net	19,524	24,960
Below-Market Ground Lease
Future Amortization of Intangible Assets:
2021 (three months)	69
2022	276
2023	276
2024	276
2025	276
Thereafter	15,860
Finite-lived intangible assets, net	$ 17,033	$ 17,240

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Accumulated depreciation of furniture, fixtures and equipment, leasehold improvements, and other deferred costs	$ 18,886	$ 32,582
Accumulated amortization of lease inducements	3,678	3,316
Accumulated amortization of line of credit deferred financing costs	5,597	4,461
Furniture, fixtures and equipment, leasehold improvements, and other deferred costs, net of accumulated depreciation of $18,886 and $32,582 in 2021 and 2020, respectively	14,891	17,211
Predevelopment costs and earnest money	24,988	17,841
Prepaid expenses and other assets	9,368	6,095
Lease inducements, net of accumulated amortization of $3,678 and $3,316 in 2021 and 2020, respectively	6,347	5,771
Line of credit deferred financing costs, net of accumulated amortization of $5,597 and $4,461 in 2021 and 2020, respectively	1,885	3,021
Total other assets	$ 57,479	$ 49,939

Notes Payable - Terms of Notes

Notes Payable - Terms of Notes Payable (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Notes payable, gross	$ 2,049,680	$ 2,160,293
Unamortized premium	4,826	7,574
Unamortized loan costs	(6,907)	(5,148)
Total Notes Payable	$ 2,047,599	2,162,719
Weighted average maturity of notes payable	4 years 4 months 20 days
Unsecured Notes
Debt Instrument [Line Items]
Notes payable, gross	$ 1,384,000	1,482,400
Credit Facility, Unsecured
Debt Instrument [Line Items]
Interest Rate	1.13%
Notes payable, gross	$ 34,000	232,400
Term Loan, Unsecured
Debt Instrument [Line Items]
Interest Rate	1.13%
Notes payable, gross	$ 350,000	$ 0
Term Loan, Unsecured
Debt Instrument [Line Items]
Interest Rate		1.30%
Notes payable, gross	$ 0	$ 250,000
Senior Notes, Unsecured \| 2019 Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	3.95%
Notes payable, gross	$ 275,000	275,000
Senior Notes, Unsecured \| 2017 Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	3.91%
Notes payable, gross	$ 250,000	250,000
Senior Notes, Unsecured \| 2019 Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	3.86%
Notes payable, gross	$ 250,000	250,000
Senior Notes, Unsecured \| 2019 Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	3.78%
Notes payable, gross	$ 125,000	125,000
Senior Notes, Unsecured \| 2017 Senior Notes, Unsecured
Debt Instrument [Line Items]
Interest Rate	4.09%
Notes payable, gross	$ 100,000	100,000
Secured Mortgage Notes
Debt Instrument [Line Items]
Notes payable, gross	$ 665,680	677,893
Secured Mortgage Notes \| Fifth Third Center
Debt Instrument [Line Items]
Interest Rate	3.37%
Notes payable, gross	$ 134,529	137,057
Secured Mortgage Notes \| Terminus 100
Debt Instrument [Line Items]
Interest Rate	5.25%
Notes payable, gross	$ 112,524	114,997
Secured Mortgage Notes \| Colorado Tower
Debt Instrument [Line Items]
Interest Rate	3.45%
Notes payable, gross	$ 112,786	114,660
Secured Mortgage Notes \| Promenade
Debt Instrument [Line Items]
Interest Rate	4.27%
Notes payable, gross	$ 89,952	92,593
Secured Mortgage Notes \| Domain 10
Debt Instrument [Line Items]
Interest Rate	3.75%
Notes payable, gross	$ 76,874	78,232
Secured Mortgage Notes \| Terminus 200
Debt Instrument [Line Items]
Interest Rate	3.79%
Notes payable, gross	$ 73,015	74,354
Secured Mortgage Notes \| Legacy Union One
Debt Instrument [Line Items]
Interest Rate	4.24%
Notes payable, gross	$ 66,000	$ 66,000

Notes Payable - Credit Facility

Notes Payable - Credit Facility (Details) - Credit Facility $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 1,000
Minimum fixed charge coverage ratio	1.50
Available borrowing capacity	$ 966
LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.05%
Federal Funds Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
One-month LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Minimum
Line of Credit Facility [Line Items]
Minimum unencumbered interest coverage ratio	1.75
Minimum \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.05%
Minimum \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.10%
Maximum
Line of Credit Facility [Line Items]
Secured leverage ratio	40.00%
Leverage ratio	60.00%
Maximum \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.45%
Maximum \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.45%

Notes Payable - Term Loan (Deta

Notes Payable - Term Loan (Details) - Term Loan - Term Loan, Unsecured $ in Millions	Jun. 28, 2021USD ($)extension	Jun. 27, 2021USD ($)
Debt Instrument [Line Items]
Debt amount	$ 350
Number of extension options \| extension	4
Extension term	180 days
Eurodollar \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.05%
Eurodollar \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.65%
LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.05%
LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.05%
LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.65%
Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.05%
Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	0.65%
Debt amount		$ 250
LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		1.20%
LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		1.70%
Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		0.00%
Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		0.75%
Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.50%
One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.00%

Notes Payable - Unsecured Senio

Notes Payable - Unsecured Senior Notes (Details) - Unsecured Senior Notes $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)tranch
Debt Instrument [Line Items]
Debt amount	$ 1,000
Number of tranches \| tranch	5
Minimum fixed charge coverage ratio	1.50
Minimum
Debt Instrument [Line Items]
Minimum unencumbered interest coverage ratio	1.75
Maximum
Debt Instrument [Line Items]
Secured leverage ratio	40.00%
Leverage ratio	60.00%
4.09% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 100
Interest rate	4.09%
3.91% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 250
Interest rate	3.91%
3.78% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 125
Interest rate	3.78%
3.86% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 250
Interest rate	3.86%
3.95% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 275
Interest rate	3.95%

Notes Payable - Secured Mortgag

Notes Payable - Secured Mortgage Notes (Details) $ in Thousands	Sep. 30, 2021USD ($)debt_instrument	Dec. 31, 2020USD ($)	Feb. 03, 2020USD ($)
Debt Instrument [Line Items]
Long-term debt	$ 2,049,680	$ 2,160,293
Secured Mortgage Notes
Debt Instrument [Line Items]
Long-term debt	$ 665,680	$ 677,893
Number of non-recourse mortgage loans \| debt_instrument	7
Assets pledged as security	$ 1,200,000
Meridian Mark Plaza Atlanta \| Secured Mortgage Notes
Debt Instrument [Line Items]
Long-term debt			$ 23,000

Notes Payable - Other Debt Info

Notes Payable - Other Debt Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Debt Disclosure [Abstract]
Notes payable, fair value	$ 2,200,000		$ 2,200,000		$ 2,300,000
Total interest incurred	18,181	$ 17,780	54,775	$ 56,944
Interest capitalized	(1,472)	(2,722)	(4,202)	(11,989)
Total interest expense	$ 16,709	$ 15,058	$ 50,573	$ 44,955

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Ground lease liability	$ 58,547	$ 58,619
Prepaid rent	32,801	30,479
Security deposits	12,806	13,098
Restricted stock unit liability	6,683	10,613
Other liabilities	4,763	5,294
Total other liabilities	$ 115,600	$ 118,103

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	Sep. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit and performance bonds	$ 527
Future obligations under leases to fund tenant improvements and other future construction obligations	$ 244,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Sep. 30, 2021USD ($)financial_institution	Mar. 31, 2020$ / sharesshares
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of participating financial institutions \| financial_institution	6
Stock issued during period (in shares)		1.7
Stock redeemed during period (in shares)		1.7
Preferred stock, par value (in usd per share) \| $ / shares		$ 1
ATM Program \| Maximum
Subsidiary, Sale of Stock [Line Items]
Sale of stock, consideration received on transaction \| $	$ 500

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue Recognition (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 188,732	$ 183,380	$ 564,919	$ 557,193
Rental property revenues
Disaggregation of Revenue [Line Items]
Revenues	185,515	179,024	552,088	543,252
Variable rental revenue	52,300	47,100	148,300	145,400
Fees and other
Disaggregation of Revenue [Line Items]
Revenues	$ 3,200	$ 4,400	$ 12,800	$ 13,900

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense, Net of Forfeitures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	$ 2,555	$ 1,533	$ 7,153	$ 4,717
Equity Classified Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	1,472	930	4,618	3,354
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	682	568	1,995	2,016
Market based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	587	284	1,946	998
Performance based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	203	78	677	340
Liability-classified awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	1,083	603	2,535	1,363
Market based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	827	503	1,597	942
Performance based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	83	(48)	340	(133)
Time vested RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	149	82	522	361
Dividend equivalent units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense, net of forfeitures	$ 24	$ 66	$ 76	$ 193

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Millions	1 Months Ended
	Jun. 30, 2021USD ($)shares	Feb. 28, 2021awardshares
Equity Classified Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of award types \| award		3
Vesting period		3 years
Ultimate payout, minimum (as a percent)		0.00%
Ultimate payout, maximum (as a percent)		200.00%
Director Awards \| Independent Board Of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares and targeted units granted (in shares) \| shares	34,727	185
Shares and targeted units granted \| $	$ 1.3
Service period	1 year

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Grants of Equity and Liability Classified Award Activity (Details)	1 Months Ended
	Feb. 28, 2021shares
Market based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares and targeted units granted (in shares)	101,791
Performance based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares and targeted units granted (in shares)	43,622
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares and targeted units granted (in shares)	102,262
Director grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares and targeted units granted (in shares)	185

Stock-Based Compensation - Equi

Stock-Based Compensation - Equity-Classified Market-based RSUs (Details) - Market based RSUs	1 Months Ended
	Feb. 28, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	37.50%
Risk-free rate	0.17%
Stock beta	0.0104

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net income	$ 54,136	$ 28,255	$ 111,507	$ 226,800
Net income available to common stockholders	$ 54,018	$ 28,115	$ 111,281	$ 226,159
Denominator:
Weighted average common shares - basic (in shares)	148,688	148,566	148,659	148,181
Net income per common share — basic (in usd per share)	$ 0.36	$ 0.19	$ 0.75	$ 1.53
Numerator:
Net income	$ 54,136	$ 28,255	$ 111,507	$ 226,800
Net income available for common stockholders before allocation of net income attributable to noncontrolling interests in CPLP	$ 54,027	$ 28,120	$ 111,301	$ 226,471
Denominator:
Weighted average shares — basic (in shares)	148,688	148,566	148,659	148,181
Add:
Weighted average units of CPLP convertible into common shares (in shares)	25	25	25	388
Weighted average common shares - diluted (in shares)	148,772	148,606	148,743	148,586
Net income per common share — diluted (in usd per share)	$ 0.36	$ 0.19	$ 0.75	$ 1.52
Stock Options
Add:
Potential dilutive common shares - stock options (in shares)	0	3	1	5
RSU
Add:
Potential dilutive common shares - stock options (in shares)	59	12	58	12
CPLP
Numerator:
Net income attributable to other noncontrolling interests	$ (9)	$ (5)	$ (20)	$ (312)
Numerator:
Net income attributable to other noncontrolling interests	(9)	(5)	(20)	(312)
Other Noncontrolling Interests
Numerator:
Net income attributable to other noncontrolling interests	(109)	(135)	(206)	(329)
Numerator:
Net income attributable to other noncontrolling interests	$ (109)	$ (135)	$ (206)	$ (329)

Consolidated Statements of Ca_4

Consolidated Statements of Cash Flows - Supplemental Information - Supplemental Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 61,235	$ 56,761
Income taxes paid	155	0
Non-Cash Activity:
Transfer from operating properties and related assets and liabilities to assets and liabilities of real estate assets held for sale	249,365	0
Common stock dividends declared and accrued	46,319	44,569
Transfers from projects under development to operating properties	0	443,932
Transfer from land held and other assets to projects under development	0	29,121
Change in accrued property, acquisition, development, and tenant expenditures	$ 0	$ 35,707

Consolidated Statements of Ca_5

Consolidated Statements of Cash Flows - Supplemental Information - Reconciliation of Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 5,532	$ 4,290
Restricted cash	1,236	1,848
Total cash, cash equivalents, and restricted cash	$ 6,768	$ 6,138	$ 38,719	$ 17,608

Reportable Segments - Segment R

Reportable Segments - Segment Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Total Revenues	$ 188,732	$ 183,380	$ 564,919	$ 557,193
Rental property revenues
Segment Reporting Information [Line Items]
Total Revenues	185,515	179,024	552,088	543,252
Rental property revenues \| Office
Segment Reporting Information [Line Items]
Total Revenues	184,794	178,220	550,215	541,897
Rental property revenues \| Other
Segment Reporting Information [Line Items]
Total Revenues	721	804	1,873	1,355
Rental property revenues \| Operating segments
Segment Reporting Information [Line Items]
Total Revenues	193,509	185,246	575,462	565,188
Rental property revenues \| Operating segments \| Atlanta
Segment Reporting Information [Line Items]
Total Revenues	68,328	64,852	199,500	193,351
Rental property revenues \| Operating segments \| Austin
Segment Reporting Information [Line Items]
Total Revenues	65,448	52,008	183,158	155,009
Rental property revenues \| Operating segments \| Charlotte
Segment Reporting Information [Line Items]
Total Revenues	18,248	20,370	62,451	75,411
Rental property revenues \| Operating segments \| Dallas
Segment Reporting Information [Line Items]
Total Revenues	4,337	4,601	13,351	13,559
Rental property revenues \| Operating segments \| Phoenix
Segment Reporting Information [Line Items]
Total Revenues	12,847	12,689	38,067	37,932
Rental property revenues \| Operating segments \| Tampa
Segment Reporting Information [Line Items]
Total Revenues	14,444	13,179	43,180	40,203
Rental property revenues \| Operating segments \| Other
Segment Reporting Information [Line Items]
Total Revenues	9,857	17,547	35,755	49,723
Rental property revenues \| Operating segments \| Office
Segment Reporting Information [Line Items]
Total Revenues	191,264	183,140	568,620	559,969
Rental property revenues \| Operating segments \| Office \| Atlanta
Segment Reporting Information [Line Items]
Total Revenues	67,959	64,742	198,461	193,117
Rental property revenues \| Operating segments \| Office \| Austin
Segment Reporting Information [Line Items]
Total Revenues	65,448	52,008	183,158	155,009
Rental property revenues \| Operating segments \| Office \| Charlotte
Segment Reporting Information [Line Items]
Total Revenues	17,527	19,567	60,578	74,057
Rental property revenues \| Operating segments \| Office \| Dallas
Segment Reporting Information [Line Items]
Total Revenues	4,337	4,601	13,351	13,559
Rental property revenues \| Operating segments \| Office \| Phoenix
Segment Reporting Information [Line Items]
Total Revenues	12,847	12,689	38,067	37,932
Rental property revenues \| Operating segments \| Office \| Tampa
Segment Reporting Information [Line Items]
Total Revenues	14,444	13,179	43,180	40,203
Rental property revenues \| Operating segments \| Office \| Other
Segment Reporting Information [Line Items]
Total Revenues	8,702	16,354	31,825	46,092
Rental property revenues \| Operating segments \| Other
Segment Reporting Information [Line Items]
Total Revenues	2,245	2,106	6,842	5,219
Rental property revenues \| Operating segments \| Other \| Atlanta
Segment Reporting Information [Line Items]
Total Revenues	369	110	1,039	234
Rental property revenues \| Operating segments \| Other \| Austin
Segment Reporting Information [Line Items]
Total Revenues	0	0	0	0
Rental property revenues \| Operating segments \| Other \| Charlotte
Segment Reporting Information [Line Items]
Total Revenues	721	803	1,873	1,354
Rental property revenues \| Operating segments \| Other \| Dallas
Segment Reporting Information [Line Items]
Total Revenues	0	0	0	0
Rental property revenues \| Operating segments \| Other \| Phoenix
Segment Reporting Information [Line Items]
Total Revenues	0	0	0	0
Rental property revenues \| Operating segments \| Other \| Tampa
Segment Reporting Information [Line Items]
Total Revenues	0	0	0	0
Rental property revenues \| Operating segments \| Other \| Other
Segment Reporting Information [Line Items]
Total Revenues	1,155	1,193	3,930	3,631
Rental property revenues \| Segment reconciling items
Segment Reporting Information [Line Items]
Total Revenues	(7,994)	(6,222)	(23,374)	(21,936)
Rental property revenues \| Segment reconciling items \| Office
Segment Reporting Information [Line Items]
Total Revenues	(6,470)	(4,920)	(18,405)	(18,072)
Rental property revenues \| Segment reconciling items \| Other
Segment Reporting Information [Line Items]
Total Revenues	$ (1,524)	$ (1,302)	$ (4,969)	$ (3,864)

Reportable Segments - Net Opera

Reportable Segments - Net Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Net Operating Income	$ 124,148	$ 120,016	$ 369,977	$ 364,930
Atlanta
Segment Reporting Information [Line Items]
Net Operating Income	44,513	43,388	130,984	129,879
Austin
Segment Reporting Information [Line Items]
Net Operating Income	38,532	31,639	108,764	92,161
Charlotte
Segment Reporting Information [Line Items]
Net Operating Income	12,852	14,621	43,972	51,214
Dallas
Segment Reporting Information [Line Items]
Net Operating Income	3,424	3,688	10,546	10,907
Phoenix
Segment Reporting Information [Line Items]
Net Operating Income	9,299	9,205	27,252	27,920
Tampa
Segment Reporting Information [Line Items]
Net Operating Income	9,434	8,230	27,755	24,372
Other
Segment Reporting Information [Line Items]
Net Operating Income	6,094	9,245	20,704	28,477
Office
Segment Reporting Information [Line Items]
Net Operating Income	122,860	118,730	366,186	361,662
Office \| Atlanta
Segment Reporting Information [Line Items]
Net Operating Income	44,333	43,399	130,551	129,992
Office \| Austin
Segment Reporting Information [Line Items]
Net Operating Income	38,532	31,639	108,764	92,161
Office \| Charlotte
Segment Reporting Information [Line Items]
Net Operating Income	12,491	14,086	43,176	50,302
Office \| Dallas
Segment Reporting Information [Line Items]
Net Operating Income	3,424	3,688	10,546	10,907
Office \| Phoenix
Segment Reporting Information [Line Items]
Net Operating Income	9,299	9,205	27,252	27,920
Office \| Tampa
Segment Reporting Information [Line Items]
Net Operating Income	9,434	8,230	27,755	24,372
Office \| Other
Segment Reporting Information [Line Items]
Net Operating Income	5,347	8,483	18,142	26,008
Other
Segment Reporting Information [Line Items]
Net Operating Income	1,288	1,286	3,791	3,268
Other \| Atlanta
Segment Reporting Information [Line Items]
Net Operating Income	180	(11)	433	(113)
Other \| Austin
Segment Reporting Information [Line Items]
Net Operating Income	0	0	0	0
Other \| Charlotte
Segment Reporting Information [Line Items]
Net Operating Income	361	535	796	912
Other \| Dallas
Segment Reporting Information [Line Items]
Net Operating Income	0	0	0	0
Other \| Phoenix
Segment Reporting Information [Line Items]
Net Operating Income	0	0	0	0
Other \| Tampa
Segment Reporting Information [Line Items]
Net Operating Income	0	0	0	0
Other \| Other
Segment Reporting Information [Line Items]
Net Operating Income	$ 747	$ 762	$ 2,562	$ 2,469

Reportable Segments - Reconcili

Reportable Segments - Reconciliation of Net Income to Net Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Net Operating Income	$ 124,148	$ 120,016	$ 369,977	$ 364,930
Net operating income from unconsolidated joint ventures	(5,762)	(4,208)	(15,953)	(14,436)
Total Revenues	188,732	183,380	564,919	557,193
Reimbursed expenses	(383)	(373)	(1,149)	(1,216)
General and administrative expenses	(7,968)	(5,658)	(22,014)	(19,853)
Interest expense	(16,709)	(15,058)	(50,573)	(44,955)
Depreciation and amortization	(72,073)	(71,498)	(214,399)	(215,980)
Transaction costs	0	0	0	(428)
Other expenses	(421)	(723)	(1,835)	(1,841)
Income from unconsolidated joint ventures	2,128	1,611	5,826	6,751
Gain (loss) on sales of investments in unconsolidated joint ventures	13,121	(59)	13,160	45,940
Gain (loss) on investment property transactions	13,063	(523)	13,037	90,192
Net income	54,136	28,255	111,507	226,800
Fee income
Segment Reporting Information [Line Items]
Total Revenues	3,094	4,350	12,426	13,772
Termination fee income
Segment Reporting Information [Line Items]
Total Revenues	1,775	372	2,599	3,755
Other
Segment Reporting Information [Line Items]
Total Revenues	$ 123	$ 6	$ 405	$ 169