Cousins Properties (CUZ) 10-K 6 Feb 25 2024 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2024	Jan. 30, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-11312
Entity Registrant Name	COUSINS PROPERTIES INC
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	58-0869052
Entity Address, Address Line One	3344 Peachtree Road NE
Entity Address, Address Line Two	Suite 1800
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30326-4802
City Area Code	(404)
Local Phone Number	407-1000
Title of 12(b) Security	Common Stock ($1 par value)
Trading Symbol	CUZ
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 3,480,329,145
Entity Common Stock, Shares Outstanding		167,660,480
Documents Incorporated by Reference	Portions of the Registrant’s proxy statement for the annual stockholders meeting to be held on April 29, 2025 are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0000025232
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Atlanta, Georgia

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Real estate assets:
Operating properties, net of accumulated depreciation of $1,627,251 and $1,329,406 in 2024 and 2023, respectively	$ 7,785,597	$ 6,775,093
Projects under development	0	132,884
Land	154,726	154,728
Total properties	7,940,323	7,062,705
Cash and cash equivalents	7,349	6,047
Investments in real estate debt, at fair value	167,219	0
Accounts receivable	11,491	11,109
Deferred rents receivable	232,078	209,370
Investment in unconsolidated joint ventures	185,478	143,831
Intangible assets, net	171,989	110,667
Other assets, net	86,219	90,745
Total assets	8,802,146	7,634,474
Liabilities:
Notes payable	3,095,666	2,457,627
Accounts payable and accrued expenses	337,248	299,767
Deferred income	277,132	181,744
Intangible liabilities, net	111,221	42,193
Other liabilities	110,712	104,830
Total liabilities	3,931,979	3,086,161
Commitments and contingencies
Stockholders' investment:
Common stock, $1 par value per share, 300,000,000 shares authorized, 167,660,480 and 154,335,798 issued, and 167,660,480 and 151,799,215 outstanding in 2024 and 2023, respectively	167,660	154,336
Additional paid-in capital	5,959,670	5,638,709
Treasury stock at cost, 2,536,583 shares in 2023	0	(145,696)
Distributions in excess of cumulative net income	(1,280,547)	(1,125,390)
Accumulated other comprehensive income (loss)	(105)	2,192
Total stockholders' investment	4,846,678	4,524,151
Nonredeemable noncontrolling interests	23,489	24,162
Total equity	4,870,167	4,548,313
Total liabilities and equity	$ 8,802,146	$ 7,634,474

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Real estate assets, accumulated depreciation	$ 1,627,251	$ 1,329,406
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)	167,660,480	154,335,798
Common stock, shares outstanding (in shares)	167,660,480	151,799,215
Treasury stock, shares (in shares)		2,536,583

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Total Revenues	$ 856,758	$ 802,874	$ 762,290
Expenses:
Rental property operating expenses	280,661	266,434	258,371
Reimbursed expenses	634	608	2,024
General and administrative expenses	36,566	32,331	28,319
Interest expense	122,476	105,463	72,537
Depreciation and amortization	365,045	314,897	295,587
Other	2,097	2,128	2,134
Total costs and expenses	807,479	721,861	658,972
Income (loss) from unconsolidated joint ventures	(2,796)	2,299	7,700
Gain on sales of investment in unconsolidated joint ventures	0	0	56,267
Gain (loss) on investment property transactions	98	504	(9)
Gain on extinguishment of debt	0	0	169
Net income	46,581	83,816	167,445
Net income attributable to noncontrolling interests	(619)	(853)	(652)
Net income available to common stockholders	$ 45,962	$ 82,963	$ 166,793
Net income per common share — basic (in usd per share)	$ 0.30	$ 0.55	$ 1.11
Net income per common share — diluted (in usd per share)	$ 0.30	$ 0.55	$ 1.11
Weighted average common shares - basic (in shares)	153,413	151,714	150,113
Weighted average common shares — diluted (in shares)	154,015	152,040	150,419
Dividends declared per common share (in usd per share)	$ 1.28	$ 1.28	$ 1.28
Rental property revenues
Revenues:
Total Revenues	$ 847,773	$ 799,047	$ 753,511
Fee income
Revenues:
Total Revenues	1,761	1,373	6,119
Other
Revenues:
Total Revenues	$ 7,224	$ 2,454	$ 2,660

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Comprehensive income:
Net income available to common stockholders	$ 45,962	$ 82,963	$ 166,793
Other comprehensive income:
Unrealized gains on cash flow hedges	2,935	4,357	1,063
Amortization of cash flow hedges	(5,232)	(3,932)	704
Total other comprehensive income (loss)	(2,297)	425	1,767
Total comprehensive income	$ 43,665	$ 83,388	$ 168,560

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Stockholders’ Investment	Common Stock	Additional Paid-In Capital	Treasury Stock	Distributions in Excess of Cumulative Net Income	Accumulated Other Comprehensive Income (Loss)	Nonredeemable Noncontrolling Interests
Beginning balance at Dec. 31, 2021	$ 4,600,400	$ 4,566,770	$ 151,273	$ 5,549,308	$ (148,473)	$ (985,338)	$ 0	$ 33,630
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	167,445	166,793				166,793		652
Other comprehensive income (loss)	1,767	1,767					1,767
Common stock sold, net of issuance costs	103,120	103,120	2,632	100,488
Common stock issued pursuant to stock based compensation	1,124	1,124	120	(312)	1,316
Amortization of stock based compensation, net of forfeitures	8,475	8,475	(6)	8,481
Acquisition of partners' noncontrolling interest	(43,387)	(27,638)		(27,638)				(15,749)
Contributions from noncontrolling interests	2,866							2,866
Distributions to noncontrolling interests	(114)							(114)
Common dividends	(194,747)	(194,747)				(194,747)
Ending balance at Dec. 31, 2022	4,646,949	4,625,664	154,019	5,630,327	(147,157)	(1,013,292)	1,767	21,285
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	83,816	82,963				82,963		853
Other comprehensive income (loss)	425	425					425
Common stock issued pursuant to stock based compensation	(64)	(64)	320	(1,845)	1,461
Amortization of stock based compensation, net of forfeitures	10,224	10,224	(3)	10,227
Contributions from noncontrolling interests	3,115							3,115
Distributions to noncontrolling interests	(1,091)							(1,091)
Common dividends	(195,061)	(195,061)				(195,061)
Ending balance at Dec. 31, 2023	4,548,313	4,524,151	154,336	5,638,709	(145,696)	(1,125,390)	2,192	24,162
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	46,581	45,962				45,962		619
Other comprehensive income (loss)	(2,297)	(2,297)					(2,297)
Common stock sold, net of issuance costs	467,689	467,689	15,500	452,189
Common stock issued pursuant to stock based compensation	(869)	(869)	361	(1,230)
Amortization of stock based compensation, net of forfeitures	13,161	13,161	0	13,161
Retirement of Treasury Stock	0		(2,537)	(143,159)	145,696
Contributions from noncontrolling interests	24							24
Distributions to noncontrolling interests	(1,316)							(1,316)
Common dividends	(201,119)	(201,119)				(201,119)
Ending balance at Dec. 31, 2024	$ 4,870,167	$ 4,846,678	$ 167,660	$ 5,959,670	$ 0	$ (1,280,547)	$ (105)	$ 23,489

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Common dividends per share (in usd per share)	$ 1.28	$ 1.28	$ 1.28

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 46,581	$ 83,816	$ 167,445
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sales of investments in unconsolidated joint ventures	0	0	(56,267)
Loss (gain) on investment property transactions	(98)	(504)	9
Depreciation and amortization	365,045	314,897	295,587
Amortization of deferred financing costs, debt premiums, and debt discounts, net	4,027	4,142	(99)
Equity-classified stock-based compensation expense, net of forfeitures	14,788	11,966	10,138
Effect of non-cash adjustments to rental revenues	(58,591)	(48,068)	(41,731)
Loss (income) from unconsolidated joint ventures	2,796	(2,299)	(7,700)
Operating distributions from unconsolidated joint ventures	3,611	3,664	5,399
Loss on extinguishment of debt	0	0	(169)
Changes in other operating assets and liabilities, net of acquisitions:
Change in receivables and other assets, net	(2,130)	(7,725)	1,723
Change in operating liabilities, net	24,204	8,473	(9,169)
Net cash provided by operating activities	400,233	368,362	365,166
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(252,731)	(279,519)	(342,241)
Property acquisitions	(837,953)	0	0
Purchase of investments in real estate debt, net	(167,219)	0	0
Return of capital distributions from unconsolidated joint ventures	0	10,924	16,805
Contributions to unconsolidated joint ventures	(47,496)	(31,388)	(47,894)
Proceeds from investment property sales, net	(3)	4,248	0
Proceeds from sale of interest in unconsolidated joint ventures, net	0	0	38,831
Net cash used in investing activities	(1,305,402)	(295,735)	(334,499)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from credit facility	1,448,300	382,900	428,700
Repayment of credit facility	(1,521,068)	(254,400)	(600,600)
Bond issuance, net of original issue discount	896,392	0	0
Proceeds from term loans	0	0	400,000
Repayment of term loans	(100,000)	0	0
Proceeds from mortgages	0	0	42,118
Repayment of mortgages	(79,085)	(8,273)	(168,401)
Repurchase of shares withheld for taxes on restricted stock vestings	(1,111)	0	0
Payment of deferred financing costs	(8,221)	(71)	(8,231)
Issuance of common stock	468,004	0	103,120
Proceeds from sale of treasury stock	0	443	514
Common dividends paid	(195,413)	(194,348)	(192,275)
Contributions from noncontrolling interests	24	3,115	2,866
Distributions to noncontrolling interests	(1,351)	(1,091)	(114)
Acquisition of partner's noncontrolling interest	0	0	(43,387)
Net cash provided by (used in) financing activities	906,471	(71,725)	(35,690)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,302	902	(5,023)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	6,047	5,145	10,168
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 7,349	$ 6,047	$ 5,145

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2024
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 fully integrated, self-administered, and self-managed real estate investment trust (“REIT”). Cousins conducts substantially all of its business through Cousins Properties LP ("CPLP"). Cousins owns in excess of 99% of CPLP and consolidates CPLP. CPLP wholly owns Cousins TRS Services LLC ("CTRS") a taxable entity which owns and manages its own real estate portfolio and performs certain real estate-related services. Cousins, CPLP, CTRS, and their subsidiaries (collectively, the “Company”) develop, acquire, lease, manage, and own primarily Class A office properties and opportunistic mixed-use developments in the Sun Belt markets of the United States with a focus on Atlanta, Austin, Tampa, Charlotte, Phoenix, Dallas, and Nashville. Cousins has elected to be taxed as a REIT and intends to, among other things, distribute at least 100% of its net taxable income to stockholders, thereby eliminating any liability for federal income taxes under current law. Therefore, the results included herein do not include a federal income tax provision for Cousins. As of December 31, 2024, the Company’s portfolio of real estate assets consisted of interests in 20.6 million square feet of office space and 467,000 square feet of other space. Basis of Presentation: The consolidated financial statements include the accounts of the Company and its consolidated partnerships and wholly-owned subsidiaries. Intercompany transactions and balances have been eliminated in consolidation. The Company presents its financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) as outlined in the Financial Accounting Standard Board’s Accounting Standards Codification (the “Codification” or “ASC”). The Codification is the single source of authoritative accounting principles applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Real Estate Assets Cost Capitalization: Costs related to planning, developing, leasing, and constructing a property, including costs of personnel working directly on projects under development or redevelopment, are capitalized. In addition, the Company capitalizes interest to qualifying assets under development or redevelopment based on average accumulated expenditures outstanding during the period. In capitalizing interest to qualifying assets, the Company uses the interest incurred on specific project debt, if any. If there is no specific project debt, the Company uses its weighted average interest rate for non-project specific debt. The Company also capitalizes interest to investments in entities accounted for under the equity method when the entity has property under development or redevelopment with a carrying value in excess of the entity’s borrowings. To the extent debt exists within an unconsolidated joint venture during the construction period, the venture capitalizes interest on that venture-specific debt. The Company capitalizes interest, real estate taxes, and certain operating expenses on the unoccupied portion of development or redevelopment properties, which have ongoing construction of tenant improvements, until the earlier of the date on which the development project achieves 90% economic occupancy or one year from cessation of major construction activity. Impairment: We review our real estate assets on an asset group basis for impairment. This review includes our operating properties, properties under development, and land holdings. The first step in this process is to determine whether an asset is considered to be held-for-investment or held-for-sale, in accordance with accounting guidance. In order to be considered a real estate asset held-for-sale, we must, among other things, have the authority to commit to a plan to sell the asset in its current condition, have commenced the plan to sell the asset, and have determined that it is probable that the asset will sell within one year. If we determine that an asset is held-for-sale, we record an impairment loss if the fair value less costs to sell is less than the carrying amount. There were no held-for-sale buildings as of December 31, 2024, or 2023, and no impairments of held-for-sale buildings during any periods presented in the accompanying statement of operations. All real estate assets not meeting the held-for-sale criteria are considered to be held-for-investment. In the impairment analysis for assets held-for-investment, we must determine whether there are indicators of impairment. For operating properties, these indicators could include a significant decline in a property’s leasing percentage, a current period operating loss or negative cash flows combined with a history of losses at the property, a decline in lease rates for that property or others in the property’s market, a significant change in the market value of the property, an adverse change in the financial condition of significant tenants, or a significant decrease in the estimated hold period. If indicators of impairment exist, we test for recoverability of the asset group’s book value. When testing for recoverability of asset groups held-for-investment, projected undiscounted 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 this recoverability 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. For projects under development, indicators could include material budget overruns, significant delays in construction, occupancy, or stabilization timing, regulatory changes or economic trends that have a significant impact on the market, or an adverse change in the financial condition of significant future tenants. None of the Company's projects under development were impaired during any periods presented in the accompanying statement of operations. For land holdings, indicators could include an overall decline in the market value of land in the region, regulatory changes that impact ability to develop the land, a decline in development activity for the intended use of the land, or other adverse economic and market conditions. None of the Company's investments in land, including any accumulated predevelopment costs, were impaired during any periods presented in the accompanying statement of operations. The Company may record impairment charges in future periods if the economy and the office industry weakens, the operating results of individual buildings are materially different from our forecasts, or we shorten our contemplated holding period for any operating buildings. Acquisition of Real Estate Assets: The Company evaluates all real estate acquisitions to determine if the transactions qualify as an acquisition of assets or of a business. If the Company determines that substantially all of the fair value is concentrated in a single identifiable asset or group of similar assets, the Company will account for the acquisition as an acquisition of assets and not a business. If the Company determines that there is no single asset or group of assets that make up substantially all of the fair value of gross assets acquired, the Company must determine whether the acquired set of assets includes an input and a substantive process that together significantly contribute to the ability to create output. Based on the facts of the transactions and guidance in ASC 805, if the Company determines that an input and substantial processes that create an output are present, the Company will account for the acquisition as an acquisition of a business. For asset acquisitions, the Company records the acquired tangible and intangible assets and assumed liabilities based on each asset and liability's relative fair value at the acquisition date to the total purchase price plus capitalized acquisition costs. For acquisitions that are accounted for as an acquisition of a business, the Company records the acquired tangible and intangible assets and assumed liabilities at fair value at the acquisition date, excluding any acquisition costs, which are expensed as incurred. The acquired assets and assumed liabilities for an operating property acquisition generally include but are not limited to: land, buildings and improvements, and identified tangible and intangible assets and liabilities associated with in-place leases, including tenant improvements, leasing costs, value of above-market and below-market tenant leases, value of above-market and below-market ground leases, and acquired in-place lease values. The fair value of land is derived from comparable sales of land within the same submarket and/or region. The fair value of buildings and improvements, tenant improvements, and leasing costs are based upon current market replacement costs and other relevant market rate information. The fair value of the above-market or below-market component of an acquired lease is based upon the present value (calculated using a market discount rate) of the difference between (i) the contractual rents to be paid pursuant to the lease over its remaining term, and (ii) management’s estimate of the rents that would be paid using fair market rental rates and rent escalations at the date of acquisition over the remaining term of the lease. The amounts recorded for above-market and below-market ground leases are included in intangible liabilities and intangible assets, respectively, and are amortized on a straight-line basis into rental property revenues over the remaining terms of the applicable leases. The fair value of acquired in-place leases is derived based on management’s assessment of lost revenue and costs incurred for the period required to lease the “assumed vacant” property to the occupancy level when purchased. The amount recorded for acquired in-place leases is included in intangible assets and amortized as an increase to depreciation and amortization expense over the remaining term of the applicable leases. Depreciation and Amortization: Real estate assets are stated at depreciated cost less impairment, if any. Buildings are depreciated over their estimated useful lives, which range generally from 30 to 40 years. The life of a particular building depends upon a number of factors including whether the building was developed or acquired, and the condition of the building upon acquisition, and the Company's future plans for the building. Furniture, fixtures, and equipment are depreciated over their estimated useful lives of three Investment in Real Estate Debt The Company has elected the fair value option in accounting for its investments in real estate debt. The Company evaluates the fair value of these receivables in accordance with the accounting standards for fair value accounting, measuring the receivables on a stand-alone basis using recently executed market transactions (Level 2 input) or, when that is not available, a market valuation based on the assumptions of potential market participants. The rates and ranges used in a market valuation are considered Level 3 inputs under the fair value hierarchy. Interest income earned and any unrealized gain or loss associated with holding these investments at fair value is recorded as a component of other income on the Company's consolidated statement of operations. Acquisition costs associated with these loans are expensed as incurred. Investment in Joint Ventures For joint ventures that the Company does not control, but over which it exercises significant influence, the Company uses the equity method of accounting. The Company's judgment with regard to its level of influence or control of an entity involves consideration of various factors including the form of its ownership interest; its representation in the entity's governance; its ability to participate in policy-making decisions; and the rights of other investors to participate in the decision-making process, to replace the Company as manager, and/or to liquidate the venture. These ventures are recorded at cost and adjusted for equity (losses) in earnings and cash contributions and distributions. Any difference between the carrying amount of these investments on the Company’s consolidated balance sheet and the underlying equity in net assets on the joint venture’s balance sheet is primarily related to capitalized interest and certain employees' salaries during development stages of the joint venture's property and is adjusted as the related underlying assets are depreciated, amortized, or sold. The Company generally allocates income and loss from an unconsolidated joint venture based on the venture's distribution priorities, which may be different from its stated ownership percentage. The Company evaluates the recoverability of its investment in unconsolidated joint ventures in accordance with accounting standards for equity investments by first reviewing each investment for any indicators of impairment. If indicators are present, the Company estimates the fair value of the investment. If the carrying value of the investment is greater than the estimated fair value, management makes an assessment of whether the impairment is “temporary” or “other-than-temporary.” In making this assessment, management considers the following: (i) the length of time and the extent to which fair value has been less than cost, (ii) the financial condition and near-term prospects of the entity, and (iii) the Company’s intent and ability to retain its interest long enough for a recovery in market value. If management concludes that the impairment is "other than temporary," the Company reduces the investment to its estimated fair value. There were no impairments recorded in our investments in joint ventures during the years presented in the accompanying statement of operations. Noncontrolling Interest The Company consolidates CPLP and certain joint ventures in which it owns a controlling interest. In cases where the entity’s documents do not contain a required redemption clause, the Company records the partner’s share of the entity in the equity section of the balance sheets in nonredeemable noncontrolling interests. In cases where the entity’s documents contain a provision requiring the Company to purchase the partner’s share of the venture at a certain value upon demand or at a future date, if any, the Company records the partner’s share of the entity in redeemable noncontrolling interests on the balance sheets. The outside partners' interests in CPLP are redeemable on a one-for-one basis, upon demand, into shares of common stock of the Company or, at the Company's sole discretion, into the cash equivalent of such share of common stock. Therefore, noncontrolling interests associated with CPLP are considered nonredeemable noncontrolling interests. The noncontrolling partners' share of all consolidated entities' income is reflected in net income attributable to noncontrolling interest on the statements of operations. Revenue Recognition Rental Property Revenues: The Company recognizes contractual revenues from leases on a straight-line basis over the term of the respective lease. Our leases regularly include allowances for tenant improvements. If we determine the improvements are our assets, we capitalize the cost of the improvements and recognize depreciation expense associated with such improvements over the shorter of the estimated useful life or the term of the lease. If the improvements are tenant assets, we defer the cost of improvements funded by us as a lease incentive asset and amortize it as a reduction of rental revenue over the term of the lease. Our determination of whether improvements are our assets or tenant assets also affects when we commence revenue recognition in connection with a lease. The Company records deferred revenue for the portion of company owned tenant improvements funded by or reimbursed by tenants and amortizes this amount on a straight-line basis into rental income over the term of the related lease. As of December 31, 2024 and 2023, the Company had unamortized deferred income related to tenant-funded tenant improvements of $228.4 million and $141.0 million, respectively, included in deferred income on the consolidated balance sheets. During 2024, 2023, and 2022, the Company recognized $28.4 million, $20.0 million, and $11.2 million, respectively, in revenues related to the amortization of tenant-funded tenant improvements. Certain leases also provide for percentage rents based upon the level of sales achieved by the lessee. Percentage rents are recognized once the specified sales target is achieved. In addition, leases typically provide for reimbursement of the tenants' share of real estate taxes, insurance, and other operating expenses to the Company. Operating expense reimbursements are recognized as the related expenses are incurred. During 2024, 2023, and 2022, the Company recognized $176.7 million, $163.2 million, and $160.7 million, respectively, in revenues from tenants related to operating expense reimbursements. For all tenant-related accounts receivable, the Company records reserves as an estimate of specific accounts not probable of collection. Those estimates are based on the age of the receivable, tenant's credit and business risk, history of payment, and other factors considered by management. Fee Income: The Company recognizes development, management, and leasing fees as it satisfies the related performance obligations under the respective contracts. The Company recognizes development and leasing fees received from investments in unconsolidated joint ventures and related salaries and other direct costs incurred by the Company as income and expense based on the percentage of the joint venture which the Company does not own. Correspondingly, the Company adjusts its investment in unconsolidated joint ventures when fees are paid to the Company by a joint venture in which the Company has an ownership interest. Gain on Investment Property Transactions: The Company recognizes a gain on the sale of investment property at the time the buyer obtains control of the investment property. If the Company maintains any continuing involvement with the investment property, that continuing involvement is considered to be one or more additional performance obligations and additional gains or losses will be recognized as these performance obligations are satisfied. When the Company gains control of a previously unconsolidated investment accounted for under the equity method of accounting, it records a gain for the difference between the carrying value of its equity method investment and the fair value of that investment on the date control is gained. Income Taxes The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, the Company must distribute annually at least 90% of its adjusted taxable income, as defined in the Code, to its stockholders and satisfy certain other organizational and operating requirements. It is management’s current intention to adhere to these requirements and maintain the Company's REIT status. As a REIT, the Company generally will not be subject to federal income tax at the corporate level on the taxable income it distributes to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes at regular corporate rates and may not be able to qualify as a REIT for four subsequent taxable years. The Company may be subject to certain state and local taxes on its income and property, and to federal income taxes on its undistributed taxable income. CTRS is a C-Corporation for federal income tax purposes and uses the liability method for accounting for income taxes. Tax return positions are recognized in the financial statements when they are “more-likely-than-not” to be sustained upon examination by the taxing authority. Deferred income tax assets and liabilities result from temporary differences. Temporary differences are differences between the tax bases of assets and liabilities and their reported amounts in the financial statements that will result in taxable or deductible amounts in future periods. A valuation allowance may be placed on deferred income tax assets, if it is determined that it is more likely than not that a deferred tax asset may not be realized. Stock Compensation The Company accounts for stock-based employee compensation using the fair value measurement method. We classify share-based payment awards granted in exchange for employee services as either equity awards or liability awards. All current stock-based compensation are equity-classified awards that are measured based on the fair value on the date of grant, and the Company has no liability awards outstanding as of December 31, 2024 or 2023. The value of all of the Company's share-based awards is recognized over the period during which an employee is required to provide services in exchange for the award - the requisite service period (usually the vesting period). No compensation costs are recognized for awards for which employees do not complete the requisite service period. Derivative Financial Instruments The Company manages its exposure to interest rate risk associated with its floating-rate debt using derivative financial instruments, specifically interest rate swaps. The current interest rate swaps are cash flow hedges involving the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The Company does not hold or issue derivative financial instruments for trading or speculative purposes. Derivatives are carried at fair value on the balance sheet as either other assets or other liabilities. If the hedging instrument is designated as a cash flow hedge and is determined to be highly effective, any gain or loss from changes in the fair value of the hedging instruments are reported as a component of other comprehensive income included in the equity section of the balance sheet. When the forecasted transaction occurs, the effective portion of the gain or loss on the hedge is reclassified from other comprehensive income to interest expense on the income statement. The Company regularly assesses the effectiveness of the hedge relationships between the hedging instrument and the underlying exposure being hedged. The Company also regularly assesses the effectiveness of its risk management strategies and its use of derivative financing instruments. Earnings per Share Net income per share-basic is calculated as net income available to common stockholders divided by the weighted average number of common shares outstanding during the period, including unvested restricted stock which has nonforfeitable dividend rights. Net income per share-diluted is calculated as net income available to common stockholders plus noncontrolling interests in CPLP divided by the diluted weighted average number of common shares outstanding during the period. Diluted weighted average number of common shares uses the same weighted average common share number as in the basic calculation and adds the potential dilution that would occur if (i) the outside units in CPLP were converted into the Company's common stock, (ii) any forward sales contracts of our common stock were settled, and (iii) equity-based restricted stock units ("RSUs") as well as shares to be issued under the Employee Stock Purchase Plan (“ESPP”) were vested and settled resulting in additional common shares outstanding, all calculated using the treasury stock method, as applicable. RSUs are dilutive if the shares to be granted (assuming the end of the reporting period is the end of the measurement of any required market and performance achievement) exceed the shares assumed to be repurchased under the treasury stock method (using related unamortized compensation costs as proceeds). Shares to be issued under the ESPP are dilutive if the estimated shares to be purchased under the plan based on current enrollment elections exceed the shares assumed to be repurchased under the treasury stock method (using both employee ESPP contributions and related unamortized compensation costs as proceeds). Cash and Cash Equivalents Cash and cash equivalents include unrestricted cash and highly-liquid money market instruments. Highly-liquid money market instruments include securities and repurchase agreements with original maturities of three months or less, money market mutual funds, and United States Treasury Bills with maturities of 30 days or less. Restricted Cash Restricted cash primarily includes escrow accounts held by lenders for reserves or funds to pay real estate taxes, if any. The Company did not have any restricted cash as of December 31, 2024 or 2023. Determination of Fair Values The Company uses fair values in the preparation of the financial statements and related footnote disclosures under the Fair Value Hierarchy prescribed by GAAP. The hierarchy is used for recording fair value of investments in real estate debt (see note 5), disclosing fair values of debt as of the balance sheet date (see note 9), and recording cash flow hedges (see note 10). The determinations of fair value for investments in real estate debt are made based on Level 3 inputs when Level 2 inputs are not available. Determinations of fair value of debt and for recording of cash flow hedges are based on Level 2 inputs. Inputs are described more fully in the respective footnotes. Fair values used for stock compensation are based on the assumptions and methodologies described in note 15 and are excepted from the Fair Value Hierarchy disclosure requirements. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

REAL ESTATE

REAL ESTATE	12 Months Ended
	Dec. 31, 2024
Real Estate [Abstract]
REAL ESTATE	REAL ESTATE In December 2024, the Company acquired Sail Tower in Austin and Vantage South End in Charlotte. The assets acquired and liabilities assumed were recorded at relative fair value as determined by management, with the assistance of third party specialists, based on information available at the acquisition date and on current assumptions to future operations. The following table summarizes the acquisition transactions ($ in thousands): Sail Tower Vantage South End Closing Purchase Price $ 521,775 $ 328,500 Acquisition Date December 2024 December 2024 Square Feet 804,000 639,000 Market Austin Charlotte Purchase Price Allocation Tangible assets Operating properties $ 578,576 $ 299,305 Intangible and other assets In-place leases (1) 48,497 29,885 Above market leases (1) — 4,898 Prepaid expenses 28 78 48,525 34,861 Intangible and other liabilities Below market leases (1) (72,369) (5,124) Tenant allowance payable (32,238) — Accounts payable and other liabilities (11,270) (1,705) (115,877) (6,829) Total net assets acquired (2) $ 511,224 $ 327,337 (1) The intangible assets and liabilities will be amortized over a weighted average remaining lease term of 11 years from the acquisition dates. (2) Represents net purchase price, including acquisition costs of $691,000 and $463,000, as well as net operating liabilities acquired through closing prorations of $11.3 million and $1.7 million for Sail Tower and Vantage South End, respectively. The Sail Tower purchase price allocation includes a payable to the building's single office tenant for tenant improvements owned by the Company and completed prior to closing. This $32.2 million is due to the tenant in June 2025 and is included in accounts payable and accrued expenses on the Company’s consolidated balance sheets as of December 31, 2024. In September 2023, the Company sold a 10.4 acre land parcel in Atlanta for a gross sales price of $4.25 million and recorded a gain of $507,000.

GROUND LEASES

GROUND LEASES	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
GROUND LEASES	GROUND LEASES At December 31, 2024, the Company had four properties subject to operating ground leases with a weighted average remaining term of 76 years. At December 31, 2024, the Company had right-of-use assets from operating ground leases of $45.2 million included in operating properties or land other liabilities At December 31, 2023, the Company had four properties subject to operating ground leases with a weighted average remaining lease term of 77 years and one finance ground lease with a remaining term of two years. At December 31, 2023, the Company had right-of-use assets from operating ground leases of $45.5 million included in operating properties or land land other liabilities Rental payments on these ground leases are adjusted periodically based on either the Consumer Price Index, changes in developed square feet on the underlying leased asset, or on a pre-determined schedule. The monthly payments on a pre-determined schedule are recognized on a straight-line basis over the terms of the respective leases while payments resulting from changes in the Consumer Price Index or future development are reflected in the statement of operations at the time of the change. For the years ended December 31, 2024, 2023, and 2022, the Company recognized operating ground lease expense of $2.8 million, $2.9 million, and $2.9 million, respectively. For the years ended December 31, 2024 and 2023, the Company had $128,000 and $155,000, respectively, of variable lease expenses related to ground lease expense. For the year ended December 31, 2022, the Company had no variable lease expenses related to ground lease expense. Additionally, the Company recognized interest expense related to finance ground leases of $27,000, $162,000, and $162,000 in 2024, 2023, and 2022, respectively. For each of the years ended December 31, 2024, 2023, and 2022, the Company paid $2.1 million in cash related to operating ground leases and, excluding the purchase of fee interest noted above, made $39,000, $162,000, and $162,000 in cash payments related to financing ground leases, respectively. The following table represents the undiscounted cash flows of our scheduled obligations for future minimum payments for ground leases as of December 31, 2024, with a reconciliation of these cash flows to the related ground lease liabilities in accordance with ASC 842 ($ in thousands): Operating Ground Leases 2025 $ 1,958 2026 2,006 2027 2,010 2028 2,022 2029 2,022 Thereafter 169,268 $ 179,286 Discount (129,283) Lease liability $ 50,003
GROUND LEASES	GROUND LEASES At December 31, 2024, the Company had four properties subject to operating ground leases with a weighted average remaining term of 76 years. At December 31, 2024, the Company had right-of-use assets from operating ground leases of $45.2 million included in operating properties or land other liabilities At December 31, 2023, the Company had four properties subject to operating ground leases with a weighted average remaining lease term of 77 years and one finance ground lease with a remaining term of two years. At December 31, 2023, the Company had right-of-use assets from operating ground leases of $45.5 million included in operating properties or land land other liabilities Rental payments on these ground leases are adjusted periodically based on either the Consumer Price Index, changes in developed square feet on the underlying leased asset, or on a pre-determined schedule. The monthly payments on a pre-determined schedule are recognized on a straight-line basis over the terms of the respective leases while payments resulting from changes in the Consumer Price Index or future development are reflected in the statement of operations at the time of the change. For the years ended December 31, 2024, 2023, and 2022, the Company recognized operating ground lease expense of $2.8 million, $2.9 million, and $2.9 million, respectively. For the years ended December 31, 2024 and 2023, the Company had $128,000 and $155,000, respectively, of variable lease expenses related to ground lease expense. For the year ended December 31, 2022, the Company had no variable lease expenses related to ground lease expense. Additionally, the Company recognized interest expense related to finance ground leases of $27,000, $162,000, and $162,000 in 2024, 2023, and 2022, respectively. For each of the years ended December 31, 2024, 2023, and 2022, the Company paid $2.1 million in cash related to operating ground leases and, excluding the purchase of fee interest noted above, made $39,000, $162,000, and $162,000 in cash payments related to financing ground leases, respectively. The following table represents the undiscounted cash flows of our scheduled obligations for future minimum payments for ground leases as of December 31, 2024, with a reconciliation of these cash flows to the related ground lease liabilities in accordance with ASC 842 ($ in thousands): Operating Ground Leases 2025 $ 1,958 2026 2,006 2027 2,010 2028 2,022 2029 2,022 Thereafter 169,268 $ 179,286 Discount (129,283) Lease liability $ 50,003

INVESTMENTS IN REAL ESTATE DEBT

INVESTMENTS IN REAL ESTATE DEBT	12 Months Ended
	Dec. 31, 2024
Investments, All Other Investments [Abstract]
INVESTMENTS IN REAL ESTATE DEBT	INVESTMENTS IN REAL ESTATE DEBT In the second quarter of 2024 , the Company acquired two mezzanine real estate loans for $27.2 million, which are subordinated to the first priority mortgage loans. These loans have a weighted average spread in excess of Term Secured Overnight Financing Rate ("SOFR") of 8.68%. The borrowers have additional borrowing capacity under these loans, for which the Company funded $2.0 million during the year ended December 31, 2024. The Company's unfunded share of additional borrowing capacity is $7.8 million as of December 31, 2024. In the fourth quarter of 2024, the Company acquired one mortgage loan at par for $138.0 million. This mortgage was secured by Saint Ann Court, a 320,000 square foot office property in Dallas, had a maturity of December 7, 2024, and had a spread in excess of SOFR of 3.66%. Subsequent to year end, on January 7, 2025, the borrower repaid the $138.0 million loan and paid the interest in full. For the period from the maturity date through repayment, the loan incurred additional default interest of 5%. The details of these real estate debt investments as of December 31, 2024 are as follows ($ in thousands): Collateral Carrying Value and Fair Value Variable Rate (1) Maturity Date 110 East - Pledge of equity interests (2) Charlotte, NC, Office Building $ 16,559 13.40 % February 2026 Radius - Pledge of equity interests (2) Nashville, TN, Office Building 12,660 12.65 % June Saint Ann - Pledge of asset Dallas, TX, Office Building 138,000 8.06 % (3) December 2024 $ 167,219 (1) Represents the variable interest rate at December 31, 2024, including a SOFR base rate of 4.40%. (2) The first priority lender of these two mortgage loans had a combined balance of $152.7 million as of December 31, 2024. (3) Excludes the additional default of interest of 5% in effect from December 7, 2024, through the January 7, 2025 payoff. The Company did not have any investment in real estate debt as of December 31, 2023 or 2022. Each loan provides the borrower with an opportunity to extend the maturity date, subject to certain conditions. The extended maturity dates are February 2027 on the 110 East loan and June 2026 on the Radius loan. For the year ended December 31, 2024, the Company believes the fair value of the investments in real estate debt approximates its invested carrying value and, therefore, did not record any unrealized gain or loss on its investments in real estate debt based on these recent executed market transactions (Level 2). In subsequent periods, the Company may make adjustments to the carrying values of these loan investments if any are required through application of the fair value hierarchy provided for under GAAP.

INVESTMENT IN UNCONSOLIDATED JO

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	12 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	INVESTMENT IN UNCONSOLIDATED JOINT VENTURES The following information summarizes financial data and principal activities of the Company’s unconsolidated joint ventures. The information included in the following table entitled summary of financial position is as of December 31, 2024 and 2023 ($ in thousands). SUMMARY OF FINANCIAL POSITION Total Assets Total Liabilities Total Equity (Deficit) Company's Investment 2024 2023 2024 2023 2024 2023 2024 2023 Operating Properties: AMCO 120 WT Holdings, LLC $ 74,984 $ 80,694 $ 1,254 $ 2,052 $ 73,730 $ 78,642 $ 13,503 $ 14,506 Crawford Long - CPI, LLC 19,306 22,001 83,571 84,563 (64,265) (62,562) (31,626) (1) (31,066) (1) Neuhoff Holdings LLC 573,495 477,780 306,055 251,477 267,440 226,303 150,376 124,543 TL CO Proscenium JV, LLC 86,517 — 3,889 — 82,628 — 16,768 — Land: 715 Ponce Holdings LLC 9,442 9,325 57 1 9,385 9,324 4,831 4,782 $ 763,744 $ 589,800 $ 394,826 $ 338,093 $ 368,918 $ 251,707 $ 153,852 $ 112,765 (1) These negative balances are included in deferred income on the consolidated balance sheets. The information included in the summary of operations table is for the years ended December 31, 2024, 2023, and 2022 ($ in thousands). SUMMARY OF OPERATIONS Total Revenues Net Income (Loss) Company's Income (Loss) 2024 2023 2022 2024 2023 2022 2024 2023 2022 Operating Properties: AMCO 120 WT Holdings, LLC $ 10,947 $ 11,407 $ 10,844 $ 1,450 $ 2,822 $ 3,245 $ 271 $ 562 $ 632 Crawford Long - CPI, LLC 13,371 13,097 13,298 3,047 3,692 4,530 1,393 1,709 2,117 Neuhoff Holdings LLC (1) 3,431 214 140 (7,203) (120) 94 (4,224) (77) 47 TL CO Proscenium JV, LLC 7,606 — — (893) — — (267) — — Land: 715 Ponce Holdings LLC 177 268 287 61 177 183 31 88 91 Sold and Other: Carolina Square Holdings LP — — 12,071 — 48 503 — 24 164 HICO Victory Center LP — — 92 — (14) 6,735 — (7) 4,546 Other — — 28 — — (12) — — 103 $ 35,532 $ 24,986 $ 36,760 $ (3,538) $ 6,605 $ 15,278 $ (2,796) $ 2,299 $ 7,700 (1) The Neuhoff Holdings LLC properties have commenced initial operations, but are not yet stabilized. Joint Ventures with Operating Properties AMCO 120 WT Holdings, LLC ("AMCO") — AMCO is a joint venture between the Company, with a 20% interest, and affiliates of AMLI Residential, with an 80% interest, formed to develop, own, and operate 120 West Trinity, a mixed-use property in Decatur, Georgia. The property contains 52,000 square feet of commercial space and 330 apartment units. The assets of the venture in the above table include cash balances of $1.0 million and $1.5 million at December 31, 2024 and 2023, respectively. Crawford Long—CPI, LLC ("Crawford Long" ) — Crawford Long is a 50-50 joint venture between the Company and Emory University that owns Emory University Hospital Midtown, a 358,000 square foot medical office building located in Atlanta, Georgia. In May 2023, Crawford Long refinanced the mortgage loan for the Medical Offices at Emory Hospital property. This $83.0 million interest-only mortgage loan has a fixed interest rate of 4.80% and matures in June 2032. The mortgage loan is non-recourse to the Company. However, the Company does provide a customary "non-recourse carve-out guaranty". The total liabilities in the table above include $82.4 million and $82.3 million related to this mortgage loan as of December 31, 2024 and 2023, respectively. The assets of the venture in the above table include cash balances of $2.0 million and $2.9 million at December 31, 2024 and 2023, respectively. Neuhoff Holdings LLC ("Neuhoff") — Neuhoff is a 50-50 joint venture between the Company and Neuhoff Acquisition LLC formed for the purpose of developing a $589.1 million mixed-use property in Nashville, Tennessee. The project consists of 450,000 square feet of commercial space and 542 apartment units. The Company made an initial contribution of $35.1 million for its interest in the land and development costs incurred prior to joint venture formation. In addition to the existing assets of the joint venture, Neuhoff also has rights to adjacent parcels for future development. In September 2021, the joint venture closed on a construction loan with a borrowing capacity up to $312.7 million that matures in September 2025 with one 12-month extension, subject to conditions. The Company and its 50-50 partner guarantee their respective halves of the borrower's obligations to pay certain required equity contributions and project carrying costs, as well as timely completion of project construction; and the Company and its partner provide a customary non-recourse carve-out guaranty. In April 2023, the interest rate on the loan changed from the LIBOR to SOFR plus 3.45%, with a minimum rate of 3.60%. Prior to April 2023, the loan bore interest at London Interbank Offering Rate ("LIBOR") plus 3.45%. The total liabilities in the table above include $275.1 million and $219.8 million related to this construction loan as of December 31, 2024 and 2023, respectively. The assets of the venture in the above table include cash balances of $9.9 million and $507,000 at December 31, 2024 and 2023, respectively. TL CO Proscenium, LLC ("Proscenium") — Proscenium is a joint venture between the Company, with a 20% interest, and Town Lane, with an 80% interest, formed in August 2024 to purchase, own, and operate an office property in Midtown Atlanta, Georgia. In August 2024, concurrent with formation, Proscenium acquired the 525,000 square foot office property for a gross purchase price of $83.3 million, of which the Company funded $16.7 million. The assets of the venture in the above table include a cash balance of $3.3 million at December 31, 2024. Joint Ventures with Land Holdings 715 Ponce Holdings LLC ("715 Ponce") — 715 Ponce is a 50-50 joint venture between the Company and 715 Acquisition LLC formed for the purpose of a future development in Midtown Atlanta, Georgia. The Company made an initial contribution of $4.0 million for its interest in the land held by the joint venture. The assets of the venture in the above table include a cash balance of $38,000 and $42,000 at December 31, 2024 and 2023, respectively. Sold and Other Joint Ventures Carolina Square Holdings LP ("Carolina Square") — Carolina Square was a 50-50 joint venture between the Company and NR 123 Franklin LLC, that owned and operated a mixed-use property in Chapel Hill, North Carolina. In September 2022, the Company sold its 50% interest in Carolina Square to its partner for a gross sales price of $105.0 million. The Company recognized a gain of $56.3 million on the sale of its interest in Carolina Square, net of $179,000 of state income tax. HICO Victory Center LP ("HICO") — HICO is a joint venture between the Company and Hines Victory Center Associates Limited Partnership ("Hines Victory"), which owned a land parcel in Dallas, Texas. The Company funded 75% of the cost of land while Hines Victory funded 25%. Pursuant to the joint venture agreement, all predevelopment expenditures, other than land, were funded equally by the partners. In June 2022, HICO sold the land parcel for a gross price of $23.1 million. The Company's share of the $6.8 million gain from the transaction was $4.5 million and is included in income from unconsolidated joint ventures on the statements of operations. The Company accounted for its investment in HICO under the equity method because it did not control the activities of the venture.

INTANGIBLE ASSETS AND LIABILITI

INTANGIBLE ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND LIABILITIES	INTANGIBLE ASSETS AND LIABILITIES At December 31, 2024 and 2023, intangible assets and liabilities included the following ($ in thousands): 2024 2023 Intangible Assets: In-place leases, net of accumulated amortization of $135,945 and $135,433 in 2024 and 2023, respectively $ 139,704 $ 80,117 Below-market ground leases, net of accumulated amortization of $2,572 and $2,260 in 2024 and 2023, respectively 16,681 16,992 Above-market leases, net of accumulated amortization of $24,190 and $24,918 in 2024 and 2023, respectively 13,930 11,884 Goodwill 1,674 1,674 $ 171,989 $ 110,667 Intangible Liabilities: Below-market leases, net of accumulated amortization of $56,982 and $50,475 in 2024 and 2023 $ 111,221 $ 42,193 For the years ended December 31, 2024, 2023, and 2022, the amortization of the above asset and liabilities are recorded as follows ($ in thousands): 2024 2023 2022 Revenues: Rental property revenues, net (Below-market and Above-market leases) $ 6,142 $ 6,876 $ 6,446 Expenses: Depreciation and amortization (In-place leases) 18,793 21,964 27,458 Rental property operating and other expenses (Below-market ground leases) 318 400 411 Aggregate net amortization expense related to intangible assets and liabilities was $13.0 million, $15.5 million, and $21.4 million for the years ended December 31, 2024, 2023, and 2022, respectively. Over the next five years and thereafter, aggregate amortization of these intangible assets and liabilities is anticipated to be as follows ($ in thousands): In-Place Leases Below-Market Ground Leases Above-Market Leases Below-Market Leases Total 2025 $ 21,701 $ 282 $ 2,679 $ (13,709) $ 10,953 2026 19,348 282 2,291 (12,490) 9,431 2027 16,762 282 1,870 (10,955) 7,959 2028 13,942 282 1,761 (9,808) 6,177 2029 12,548 210 1,496 (9,404) 4,850 Thereafter 55,403 15,343 3,833 (54,855) 19,724 $ 139,704 $ 16,681 $ 13,930 $ (111,221) $ 59,094 Weighted average remaining lease term 9 years 62 years 7 years 11 years

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS At December 31, 2024 and 2023, other assets included the following ($ in thousands): 2024 2023 Predevelopment costs $ 58,224 $ 56,600 Lease inducements, net of accumulated amortization of $8,181 and $5,860 in 2024 and 2023, respectively 11,024 10,537 Furniture, fixtures, and equipment and other deferred costs, net of accumulated depreciation of $20,004 and $18,564 in 2024 and 2023, respectively 9,491 10,631 Prepaid expenses and other assets 4,492 8,704 Credit Facility deferred financing costs, net of accumulated amortization of $3,416 and $2,131 in 2024 and 2023, respectively 2,988 4,273 $ 86,219 $ 90,745 Predevelopment costs represent amounts that are capitalized related to predevelopment projects on land owned by the Company that has been determined to be probable of future development. Lease inducements are incentives paid to tenants in conjunction with leasing space, such as moving costs, sublease arrangements of prior space, and other costs. These amounts are amortized into rental revenues over the individual underlying lease terms.

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE The following table summarizes the terms of notes payable outstanding at December 31, 2024 and 2023 ($ in thousands): Description Interest Rate (1) Maturity (2) 2024 2023 Unsecured Notes: Credit Facility 5.185% April 2027 $ 112,332 $ 185,100 Public Senior Notes 5.875% October 2034 500,000 — Public Senior Notes 5.375% February 2032 400,000 — Term Loan (3) 5.433% September 2025 400,000 400,000 Privately Placed Senior Note 3.95% July 2029 275,000 275,000 Term Loan (4) 5.41% August 2025 250,000 350,000 Privately Placed Senior Note 3.91% July 2025 250,000 250,000 Privately Placed Senior Note 3.86% July 2028 250,000 250,000 Privately Placed Senior Note 3.78% July 2027 125,000 125,000 Privately Placed Senior Note 4.09% July 2027 100,000 100,000 2,662,332 1,935,100 Secured Mortgage Notes: Terminus (5) 6.34% January 2031 221,000 221,000 Fifth Third Center 3.37% October 2026 122,802 126,548 Colorado Tower 3.45% September 2026 104,080 106,862 Domain 10 3.75% November 2024 — 72,558 447,882 526,968 $ 3,110,214 $ 2,462,068 Unamortized original issue discount (3,560) — Unamortized loan costs (10,988) (4,441) Total Notes Payable $ 3,095,666 $ 2,457,627 (1) Interest rate as of December 31, 2024. (2) Weighted average maturity of notes payable outstanding at December 31, 2024 was 4.2 years. Unexercised extension options are not included. (3) In December 2024, the Company delivered notice to the administrative agent of the Term Loan notice of its execution of the first of four available six month extension options. The extension will be effective March 3, 2025. (4) In December 2024, the Company delivered notice to the administrative agent of the Term Loan notice of its execution of the second of four available 180 day extension options. The extension will be effective February 26, 2025. (5) Represents $123.0 million and $98.0 million non-cross-collateralized mortgages secured by the Terminus 100 and Terminus 200 buildings, respectively. Credit Facility On May 2, 2022, the Company entered into a Fifth Amended and Restated Credit Agreement (the "Credit Facility") under which the Company may borrow up to $1 billion if certain conditions are satisfied. The Credit Facility contains financial covenants that require, among other things, the maintenance of 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 50%; and an overall leverage ratio of no more than 60%. The Credit Facility matures on April 30, 2027. 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 Daily SOFR or Term SOFR, plus a SOFR adjustment of 0.10% ("Adjusted SOFR") and a spread of between 0.725% and 1.40%, or (2) the greater of (i) Bank of America's prime rate, (ii) the federal funds rate plus 0.50%, (iii) Term SOFR, plus a SOFR adjustment of 0.10%, and 1.00%, or (iv) 1.00%, plus a spread of between 0.00% and 0.40%, based on leverage. In addition to the interest rate, the Credit Facility is also subject to a annual facility fee of 0.125% to 0.30%, depending on the Company's credit rating and leverage ratio, on the entire $1 billion capacity. In April 2024, the Company notified the administrative agent of the Credit Facility of the Company's receipt of corporate investment grade ratings. These ratings reduced the Credit Facility's Adjusted SOFR spread and facility fee range effective April 17, 2024. Changes in the Company's investment grade ratings may result in additional adjustments to the applicable spread and facility fee. Prior to April 17, 2024, the applicable spread was between 0.90% and 1.40% and the facility fee range was 0.15% to 0.30%, depending on leverage. At December 31, 2024, the Credit Facility's interest rate spread over Adjusted SOFR was 0.775%, and the facility fee spread was 0.15%. 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 $887.7 million at December 31, 2024. The amounts outstanding under the Credit Facility may be accelerated upon the occurrence of any events of default. Term Loans On October 3, 2022, the Company entered into a Delayed Draw Term Loan Agreement (the "2022 Term Loan") and borrowed the full $400 million available under the loan. The loan had an initial maturity of March 3, 2025 with four consecutive options to extend the maturity date for an additional six months each. In December 2024, the Company exercised the first of the four six month extension options, extending the maturity date to September 3, 2025. Under the 2022 Term Loan the interest rate applicable varies according to the Company's credit rating and leverage ratio and may, at the election of the Company, be determined based on either (1) the Daily SOFR or Term SOFR, plus a SOFR adjustment of 0.10% ("Adjusted SOFR") and a spread of between 0.80% and 1.60%, or (2) the greater of (i) Bank of America's prime rate, (ii) the federal funds rate plus 0.50%, (iii) Term SOFR, plus a SOFR adjustment of 0.10%, and 1.00%, (iv) or 1.00%, plus a spread of between 0.00% and 0.65%, based on leverage. The covenants under the 2022 Term Loan are the same as the Credit Facility. At December 31, 2024, the spread over the underlying SOFR rates was 0.85% for the 2022 Term Loan. On April 19, 2023, the Company entered into a floating-to-fixed rate swap with respect to $200 million of the $400 million 2022 Term Loan through the initial maturity date of March 3, 2025. This swap fixed the underlying SOFR rate at 4.298%. On January 26, 2024, the Company entered into a floating-to-fixed rate swap with respect to remaining $200 million of the $400 million 2022 Term Loan through the initial maturity date of March 3, 2025. This swap fixed the underlying SOFR rate at 4.6675% (see note 10). These two swaps fix the underlying SOFR rate for the full $400 million at a weighted average of 4.483%. On June 28, 2021, the Company entered into an Amended and Restated Term Loan Agreement (the "2021 Term Loan") that amended the former term loan agreement. Under the 2021 Term Loan, the Company has borrowed $350 million with an initial maturity of August 30, 2024 with four consecutive options to extend the maturity date for an additional 180 days each. In August 2024, the Company paid down $100 million of the $350 million outstanding and exercised the first of our four 180 day extension options, extending the maturity date on the remaining $250 million to February 26, 2025. In December 2024, the Company exercised the second of our four 180 day extension options, extending the maturity date on the remaining $250 million to August 25, 2025. On September 19, 2022, the Company entered into the First Amendment to the 2021 Term Loan. This amendment aligns covenants and available interest rates, including the addition of SOFR, to that of the Credit Facility. Under the terms of this First Amendment the interest rate applicable to the 2021 Term Loan varies according to the Company's credit rating and leverage ratio and may, at the election of the Company, be determined based on either (1) the Daily SOFR or Term SOFR, plus a SOFR adjustment of 0.10% ("Adjusted SOFR") and a spread of between 0.85% and 1.65%, or (2) the greater of (i) Bank of America's prime rate, (ii) the federal funds rate plus 0.50%, (iii) Term SOFR, plus a SOFR adjustment of 0.10%, and 1.00%, (iv) or 1.00%, plus a spread of between 0.00% and 0.65%, based on leverage. At December 31, 2024, the spread over the underlying SOFR rates was 1.00% for the 2021 Term Loan. On September 27, 2022, the Company entered into a floating-to-fixed interest rate swap with respect to the $350 million 2021 Term Loan through the initial maturity date of August 30, 2024. This swap effectively fixed the underlying SOFR rate at 4.234% (see note 10). This swap has expired, and the loan has reverted to the underlying variable SOFR rate. In April 2024, the Company notified the administrative agent of the 2022 Term Loan and 2021 Term Loan of the Company's receipt of corporate investment grade ratings received. These ratings reduced the Adjusted SOFR spread range, effective April 17, 2024. Changes in the Company's investment grade ratings may result in additional adjustments to the applicable spread in the future. Prior to April 17, 2024, the applicable spread was between 1.05% and 1.65% for both the 2022 Term Loan and 2021 Term Loan, depending on leverage. Unsecured Senior Notes In December 2024, CPLP issued $400.0 million in aggregate principal amount of 5.375% public senior notes. Upon issuance of the public senior notes, CPLP received net proceeds of $397.9 million dollars after an original issue discount of $2.1 million resulting in an effective interest rate is 5.464%. These public senior notes are fully and unconditionally guaranteed by the Company. The proceeds were used to partially fund the acquisitions of the Sail Tower and Vantage South End properties in December 2024. These public senior notes had issuance costs of $3.6 million and mature on February 15, 2032. In August 2024, CPLP issued $500.0 million in aggregate principal amount of 5.875% public senior notes. Upon issuance of these public senior notes, CPLP received net proceeds of $498.5 million dollars after an original issue discount of $1.5 million, resulting in an effective interest rate is 5.912%. These public senior notes are fully and unconditionally guaranteed by the Company. The proceeds were used primarily to repay $373.8 million outstanding on the Credit Facility and repay $100 million of the $350 million outstanding on the 2021 Term Loan. These public senior notes had issuance costs of $5.3 million and mature on October 1, 2034. The Company's public senior notes are subject to certain typical covenants that, subject to certain exceptions, include (a) a limitation on the ability of the Company and CPLP to, among other things, incur additional secured and unsecured indebtedness; (b) a limitation on the ability of the Company and CPLP to merge, consolidate, sell, lease or otherwise dispose of their properties and assets substantially as an entirety; and (c) a requirement that the Company maintain a pool of unencumbered assets. To avoid any such limitations, these covenants require, among other things, maintaining the following financial metrics as defined in the agreement: unencumbered debt ratio of at least 150%; an EBITDA to debt service 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 Company also has privately placed 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 are consistent with those of our Credit Facility, with the exception of a secured leverage ratio of no more than 40%. The senior notes also contain customary representations and warranties, both affirmative and negative covenants, and customary events of default. Secured Mortgage Notes In November 2024, the Company repaid, in full, its Domain 10 mortgage with remaining principal balance of $70.9 million. The mortgage had an interest rate of 3.75%. In December 2022, the Company refinanced mortgages on the Company's two Terminus properties in Atlanta with the existing lender. Under the new mortgages, the maturities were extended from January 2023 to January 2031, the combined principal increased to $221.0 million, from $178.9 million. The interest rate for each mortgage increased to 6.34%, from a combined weighted average interest rate of 4.67%. These mortgages are neither cross-collateralized nor cross-defaulted. In October 2022, the Company repaid, in full, its Legacy Union One and Promenade Tower mortgages with remaining principal balances of $66.0 million and $86.3 million, respectively. These mortgages had interest rates of 4.24% and 4.27%, respectively. As of December 31, 2024, the Company had $447.9 million outstanding on four non-recourse mortgage notes with a weighted average interest rate of 4.85%. All interest rates on the secured mortgage notes are fixed. Assets with depreciated carrying values of $702.7 million were pledged as security on these mortgage notes payable. In addition, the Company provides a customary “non-recourse carve-out guaranty” on each non-recourse loan. Other Debt Information The Company is in compliance with all of the covenants related to its unsecured and secured debt. At December 31, 2024 and 2023, the estimated fair value of the Company’s notes payable was $3.1 billion and $2.4 billion, respectively , c alculated by discounting the debt's remaining contractual cash flows at estimated rates at which similar loans could have been obtained at December 31, 2024 and 2023. The estimate of the current market rate, which is the most significant input in the discounted cash flow calculation, is intended to replicate debt of similar maturity and loan-to- value relationship. These fair value calculations are considered to be Level 2 under the guidelines as set forth in ASC 820 as the Company utilizes market rates for similar type loans from third party brokers. For the years ended December 31, 2024, 2023, and 2022, interest was recorded as follows ($ in thousands): 2024 2023 2022 Total interest incurred $ 135,025 $ 123,830 $ 87,937 Interest capitalized (12,549) (18,367) (15,400) Total interest expense $ 122,476 $ 105,463 $ 72,537 Debt Maturities Future principal payments due (including scheduled amortization payments and payments due upon original maturity) on the Company's notes payable at December 31, 2024 are as follows ($ in thousands): 2025 $ 906,755 2026 220,127 2027 337,332 2028 250,000 2029 275,000 Thereafter 1,121,000 $ 3,110,214

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS On April 19, 2023, the Company entered into a floating-to-fixed interest rate swap ("2023 Swap") with respect to $200 million of the $400 million 2022 Term Loan through the initial loan maturity date of March 3, 2025, fixing the underlying SOFR rate for this portion of the loan at 4.298%. On January 26, 2024, the Company entered into a floating-to-fixed interest rate swap ("2024 Swap") with respect to the remaining $200 million of the $400 million 2022 Term Loan through the initial maturity date of March 3, 2025, fixing the underlying SOFR rate for this portion of the loan at 4.6675%. These swaps effectively fix the underlying SOFR rate at a weighted average of 4.483% for the entire $400 million through the initial maturity. As of December 31, 2024, the fair values of the 2023 Swap and 2024 Swap on the 2022 Term Loan resulted in a $10,000 asset and a $115,000 liability, respectively. As of December 31, 2023, the fair value of the 2023 Swap on the 2022 Term Loan resulted in a $555,000 asset. These assets and liabilities are included in other assets and other liabilities, respectively, on the Company's consolidated balance sheets. On September 27, 2022, the Company entered into a floating-to-fixed interest rate swap ("2022 Swap") with respect to the $350 million 2021 Term Loan through the initial loan maturity date of August 30, 2024. This swap effectively fixed the underlying SOFR rate at 4.234%. The 2022 Swap expired upon its August 30, 2024 maturity and there were no amounts recorded on the Company's balance sheet related to this swap as of December 31, 2024. As of December 31, 2023, the fair value this swap on the 2021 Term Loan resulted in a $1.7 million asset and is included in other assets on the Company's consolidated balance sheet. The Company's objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Such derivatives were used to hedge the variable cash flows associated with the 2021 and 2022 Term Loans (referred to as "cash flow hedges"). For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in Accumulated Other Comprehensive Income and subsequently reclassified into interest expense in the same periods during which the hedged transaction affects earnings. The counterparties under these swaps are major financial institutions, and the swaps contain provisions whereby if the Company defaults on certain of its indebtedness, and such default results in repayment of such indebtedness being, or becoming capable of being, accelerated by the lender, then the Company could also be declared in default under the swaps. There are no collateral requirements related to these swaps. The table below presents the effect of the Company's derivative financial instruments on the consolidated statements of operations as of December 31, 2024, 2023, and 2022 ($ in thousands): Cash Flow Hedge: 2024 2023 2022 Amount of income recognized in accumulated other comprehensive income on interest rate derivatives $ 2,935 $ 4,357 $ 1,063 Amount of loss (income) reclassified from accumulated other comprehensive income into income as an increase (reduction) of interest expense $ (5,232) $ (3,932) $ 704 Total amount of interest expense presented in the consolidated statements of operations $ 122,476 $ 105,463 $ 72,537 Over the next year, we estimate that $105,000 will be recorded as a reduction in accumulated other comprehensive loss and an increase of interest expense. The fair value of these cash flow hedges is determined using observable inputs other than quoted prices in active markets, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities. These inputs are considered Level 2 inputs in the fair value hierarchy and the Company engages a third-party expert to determine these inputs. These fair values are determined using the conventional industry methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts made between the Company and its counterparties to the cash flow hedges. These variable cash receipts are based on the expectation of future interest rates which are derived from observed market interest rate curves. In addition, any credit valuation adjustments are considered in the fair values to account for potential nonperformance risk to the extent they would be significant inputs to the calculation. For the periods presented, credit valuation adjustments were not considered to be significant inputs.

OTHER LIABILITIES

OTHER LIABILITIES	12 Months Ended
	Dec. 31, 2024
Other Liabilities Disclosure [Abstract]
OTHER LIABILITIES	OTHER LIABILITIES Other liabilities on the consolidated balance sheets as of December 31, 2024 and 2023 included the following ($ in thousands): 2024 2023 Ground lease liability $ 50,003 $ 53,348 Prepaid rent 41,949 34,872 Security deposits 17,043 15,050 Other liabilities 1,717 1,560 $ 110,712 $ 104,830

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments As a lessor, the Company had a total of $111.8 million in future obligations under leases to fund tenant improvements and other future construction obligations at December 31, 2024. Additionally, the Company had $7.8 million of future funding commitments related to investments in real estate debt at December 31, 2024 as discussed in note 5. Litigation The Company is subject to various legal proceedings, claims, and administrative proceedings arising in the ordinary course of business, some of which are expected to be covered by liability insurance. Management makes assumptions and estimates concerning the likelihood and amount of any potential loss relating to these matters using the latest information available. The Company records a liability for litigation if an unfavorable outcome is probable and the amount of loss or range of loss can be reasonably estimated. If an unfavorable outcome is probable and a reasonable estimate of the loss is a range, the Company accrues the best estimate within the range. If no amount within the range is a better estimate than any other amount, the Company accrues the minimum amount within the range. If an unfavorable outcome is probable but the amount of the loss cannot be reasonably estimated, the Company discloses the nature of the litigation and indicates that an estimate of the loss or range of loss cannot be made. If an unfavorable outcome is reasonably possible and the estimated loss is material, the Company discloses the nature and estimate of the possible loss of the litigation. The Company does not disclose information with respect to litigation where an unfavorable outcome is considered to be remote or where the estimated loss would not be material. Based on current expectations, such matters, both individually and in the aggregate, are not expected to have a material adverse effect on the liquidity, results of operations, business, or financial condition of the Company.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY In December 2024, the Company entered into an underwriting agreement between the Company and J.P. Morgan Securities LLC ("JPM") with respect to the issue and sale by the Company and the purchase by JPM of 9,500,000 shares of the Company's common stock, par value $1.00 per share, at a price of $29.765 per share. The issuance resulted in net proceeds to the Company of $282.4 million after offering expenses. These proceeds were used to fund a portion of the purchase of the Sail Tower operating property. In November 2024, the Company entered into an underwriting agreement between the Company and BofA Securities, Inc. ("BofA") with respect to the issue and sale by the Company and the purchase by BofA of 6,000,000 shares of the Company's common stock, par value $1.00 per share, at a price of $31.01 per share. The issuance resulted in net proceeds to the Company of $185.3 million after offering expenses. These proceeds were used to fund a portion of the purchase of the Vantage South End operating property. In the third quarter of 2021, the Company entered into an Equity Distribution Agreement ("EDA") 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 ("Forward Sales"). The use of Forward Sales 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, 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 Sales, if undertaken, meet the derivatives and hedging guidance scope exception as the contracts are related to the Company's own stock. In February 2023, the Company filed a Form S-3 to renew the registration of its authorized shares. In conjunction with that Form S-3 filing, the Company entered into an Amendment to the EDA to allow for the continued issuance of shares under this ATM program. To date, the Company has issued 2.6 million shares for a gross sales price of $105.1 million under the ATM program which generated cash proceeds of $101.4 million, net of $1.1 million of compensation to be paid with respect to Forward Sales, $1.7 million of dividends owed during the period the Forward Sales were outstanding, and $900,000 of other transaction related costs. The Company did not issue any shares under the ATM program during the years ended December 31, 2024 and 2023, and did not have any outstanding Forward Sales for the sale of its common stock as of December 31, 2024 or 2023. The annual offering periods for the Cousins Employee Stock Purchase Plan ("ESPP") ended on November 30, 2024, 2023, and 2022, respectively. Employees purchased a total of 20,292 shares in 2024, 25,441 shares in 2023, and 22,909 in 2022, respectively, under the ESPP. In 2024, the Company settled the employees' purchase of shares through issuance of Company common stock. In both 2023 and 2022, the Company settled the employees' purchase of shares by selling treasury shares to participants. In 2023, the 25,441 treasury shares sold had a basis of $1.5 million and, in 2022, the 22,909 treasury shares sold had a basis of $1.3 million. On February 6, 2024, the Company retired all 2,536,583 shares of Treasury Stock outstanding. These treasury shares had an average cost basis of $57.44 per share. Ownership Limitations — In order to minimize the risk that the Company will not meet one of the requirements for qualification as a REIT, the Company's Articles of Incorporation include certain restrictions on the ownership of more than 3.9% of the Company’s total common and preferred stock, subject to waiver by the Board of Directors. Distribution of REIT Taxable Income — The following reconciles dividends paid and dividends applied in 2024, 2023, and 2022 to meet REIT distribution requirements ($ in thousands): 2024 2023 2022 Common dividends $ 195,413 $ 194,144 $ 192,275 Dividends treated as taxable compensation to employees (1,214) (308) (231) Dividends in excess of current year REIT distribution requirements (41,356) (39,933) — Dividends applied to meet current year REIT distribution requirements $ 152,843 $ 153,903 $ 192,044 Tax Status of Distributions — The following summarizes the components of the taxability of the Company’s common stock distributions for the years ended December 31, 2024, 2023, and 2022: Total Ordinary Long-Term Non Dividend Distributions Unrecaptured Section 1061 One Year Amounts Disclosure (2) Section 1061 Three Year Amounts Disclosure (2) 2024 $ 1.280000 $ 1.007420 $ — $ 0.272580 $ — $ — $ — 2023 $ 1.280000 $ 1.008002 $ 0.008302 $ 0.263696 $ — $ 0.008302 $ 0.008302 2022 $ 1.270000 $ 0.880788 $ 0.389212 $ — $ 0.045470 $ 0.389212 $ 0.389212 (1) 100% of the amounts included in Ordinary Dividends is treated as "qualified REIT dividends" for purposes of section 199A of the Internal Revenue Code. None of the amounts are section 897 gains attributable to the disposition of U.S. real property interests for foreign shareholders. (2) Total Capital Gain Distributions for purposes of section 1061 of the Internal Revenue Code. Section 1061 is generally applicable to direct and indirect holders of "applicable partnership interests".

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2024
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 using practical expedients included in accordance with the guidance set forth in ASC 842. • Fee income consists of development fees, management fees, and leasing fees earned from unconsolidated joint ventures and from third parties. Fee income is accounted for in accordance with the guidance set forth in ASC 606. For the years ended December 31, 2024, 2023, and 2022, the Company recognized rental property revenues of $847.8 million, $799.0 million, and $753.5 million, respectively, of which $241.3 million, $226.4 million, and $212.3 million, respectively, represented variable rental revenue. For the years ended December 31, 2024, 2023, and 2022, the Company recognized fee and other revenue of $9.0 million, $3.8 million, and $8.8 million, respectively. The following tables set forth the future minimum cash rents to be received by consolidated entities under existing non-cancellable leases as of December 31, 2024 ($ in thousands): December 31, 2024 2025 $ 608,624 2026 614,165 2027 583,548 2028 539,656 2029 486,608 Thereafter 1,919,666 $ 4,752,267 The Company had a lease with SVB Financial Group ("SVB Financial") at its Hayden Ferry 1 property in Phoenix, Arizona. SVB Financial’s primary subsidiary, Silicon Valley Bank ("SVB"), was placed in receivership by the Federal Deposit Insurance Corporation ("FDIC") on March 10, 2023. On March 17, 2023, SVB Financial filed a voluntary petition for a court-supervised reorganization under Chapter 11 of the US Bankruptcy Code. On March 27, 2023, First Citizen's BancShares, Inc. ("FCB") announced it had purchased SVB Financial's subsidiary, SVB, the primary user of the leased space. In June 2023, the Bankruptcy court approved SVB Financial's request for an order rejecting the lease, with an effective date no later than September 30, 2023. In June 2023, the Company recorded a reduction of revenue of $1.6 million related to the write-down of net assets associated with this lease at the time that the collection of rents for the term of the lease no longer remained probable. During the three months ended September 30, 2023, the Company recognized $2.3 million of rental revenue on a cash basis related to base rent lease payments made through September 30, 2023, the effective date of the termination. Any proceeds from our bankruptcy claim will be recognized on a cash basis. Subsequent to year end, in February 2025, the Company sold its claim to a third party for $4.6 million in cash. During the year ended December 31, 2022, the Company recognized $3.2 million in fee income in the consolidated statements of operations related to the services provided to Norfolk Southern Railway Company ("NS") under a series of agreements, including a development agreement and consulting agreement, under which the primary objective was delivery of a new corporate headquarters to NS. No fee income related to the services provided to NS was recognized during the years ended December 31, 2024 and 2023.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The Company has several types of stock-based compensation — restricted stock, restricted stock units ("RSUs") issued under the Cousins Properties Incorporated 2019 Omnibus Incentive Stock Plan (the "2019 Plan"), and the ESPP. While the Company's 2019 Plan also allows for the issuance of stock options, none had been issued, were exercised, or were outstanding as of or during any of the periods presented. A portion of the Company's independent directors' compensation is also provided in the form of company stock. The Company's compensation expense in 2024, 2023, and 2022 primarily relates to restricted stock, stock-settled RSUs, and the ESPP. Restricted stock and the stock-settled RSUs are equity-classified awards for which compensation expense per share is fixed. Cash-settled RSUs are liability-classified awards for which the expense fluctuates from period to period dependent, in part, on the Company's stock price. Cash-settled RSUs were last awarded in 2019 and were fully expensed as of December 31, 2023. For 2024, 2023, and 2022, stock-based compensation expense, net of forfeitures, was recorded as follows ($ in thousands): 2024 2023 2022 Equity-classified awards: Restricted stock $ 4,130 $ 3,645 $ 3,151 Market-based RSUs 6,885 5,042 4,073 Performance-based RSUs 2,077 1,463 1,173 Director grants 1,587 1,601 1,471 Employee Stock Purchase Plan 109 150 191 14,788 11,901 10,059 Liability-classified awards Service-based RSUs — 61 (146) Dividend equivalent units — — 69 — 61 (77) Total stock-based compensation expense $ 14,788 $ 11,962 $ 9,982 On April 23, 2019, the Company's stockholders approved the 2019 Plan which allows the Company to issue awards of stock options, stock grants, or stock appreciation rights to employees and directors. The 2019 Plan also allows the Company to issue awards to employees that are paid in cash or stock on the vesting date in an amount equal to the fair market value, as defined, of one share of the Company’s stock. As of December 31, 2024, approximately 1.3 million shares were authorized to be awarded pursuant to the 2019 Plan. Equity-Classified Awards Since 2020, the Company has annually granted three types of equity-classified awards to key employees: (1) RSUs based on the total stockholder return ("TSR) of the Company, as defined, relative to that of office peers included in a published office REIT index (the "Market-based RSUs"), (2) RSUs based on the ratio of cumulative funds from operations ("FFO") per share to targeted cumulative FFO per share (the “Performance-based RSUs”), and (3) restricted stock. In February 2023, the Company made modifications to its Market-based RSUs awards granted in 2022, 2021, and 2020. The modifications were made to clarify the definition of the peer group used to measure TSR award achievement. The additional compensation expense recognized related to these modifications was not significant. The RSU awards are equity-classified awards to be settled in stock, net of any tax withholding, 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 three-year 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 three-year vesting period using the grant date fair market value of the Company's stock on the grant date. The expense is recognized ratably over the vesting period and adjusted each quarter based on the number of shares expected to vest and for forfeitures when they occur. The measurement period for both the Market-based and Performance-based RSUs is three years starting on January 1 of the year of issuance and ending on December 31 of the third year. 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. In 2024, 2023, and 2022, the Company granted, at target, 293,887, 234,902, and 141,899 of RSUs, respectively, to employees, which vest on December 31 of the last year of the respective three-year FFO and TSR measurement period. The Company estimates future expense for all stock-settled RSUs outstanding at December 31, 2024 to be $7.0 million (using estimated vesting percentages for Performance-based RSUs as of December 31, 2024), which will be recognized over a weighted-average period of 1.7 years. In 2024, 2023, and 2022, the Company granted 204,004, 164,221, and 99,758 shares, respectively, of restricted stock to employees, which vest ratably over three years from the issuance date. The Company records restricted stock in common stock and additional paid-in capital at fair value on the grant date, with the offsetting deferred compensation also recorded in additional paid-in capital. The Company records compensation expense over the vesting period. As of December 31, 2024, the Company had $5.0 million of unrecognized compensation cost included in additional paid-in capital related to restricted stock, which will be recognized over a weighted average period of 1.3 years. The total vesting date fair value of the restricted stock which vested during 2024, 2023, and 2022 was $2.7 million, $2.4 million, and $2.9 million, respectively. The following table summarizes equity-classified employee stock compensation award activity for the years ended December 31, 2024, 2023, and 2022 (shares in thousands): 2024 2023 2022 Restricted Stock and RSUs Weighted Average Fair Market Value at Grant Restricted Stock and RSUs Weighted Average Fair Market Value at Grant Restricted Stock and RSUs Weighted Average Fair Market Value at Grant Restricted stock and RSUs unvested at beginning of the year 629 $34.16 463 $39.91 409 $38.63 Granted 498 $28.73 399 $29.31 242 $43.30 Vested (252) $39.47 (225) $37.28 (169) $41.54 Forfeited (13) $31.41 (8) $37.60 (19) $41.05 Restricted stock and RSUs unvested at end of year (1) 862 $29.51 629 $34.16 463 $39.91 (1) The targeted number of non-vested stock-settled RSUs and Restricted Stock at December 31, 2024 is 522,858 and 339,479, respectively. The Monte Carlo valuation used to determine the grant date fair value of the stock-settled Market-based RSUs included the following assumptions for those RSUs granted in 2024, 2023, and 2022: 2024 2023 2022 Volatility (1) 30.5 % 40.5 % 37.7 % Risk-free rate (2) 4.43 % 4.35 % 1.39 % Stock beta (3) 0.96 % 1.03 % 1.02 % (1) Based on historical volatility over three years using daily stock price. (2) Reflects the yield on three-year Treasury bonds. (3) Betas are calculated with up to three years of daily stock price data. All shares of restricted stock receive dividends and have voting rights during the vesting period. Dividend equivalents for the 2024, 2023, and 2022 RSUs will be settled in cash based upon the number of units vested. The Company accrues for these dividend equivalent units over the measurement period as dividends are declared and they are included in distributions in excess of cumulative net income on the consolidated balance sheets. At December 31, 2024, 2023 and 2022, the Company had no stock options outstanding to key employees or outside directors. In 2024, 2023, and 2022, there were no stock option grants to employees or directors and the Company recognized no compensation expense related to stock options. In 2024, 2023, and 2022, the Company also granted 67,624, 81,909, and 44,549 shares, respectively, of stock to independent members of the board of directors which vested immediately on the issuance date. Liability-Classified Awards There were no service-based, market-based, or performance-based liability awards outstanding as of December 31, 2024 or 2023 and the expense related to liability awards for the years ended December 31, 2023, and 2022 was not significant. During 2023 and 2022, total cash paid for all types of cash-settled RSUs and related dividend payments was $1.1 million and $6.6 million, respectively. Employee Stock Purchase Plan On October 26, 2021, the Company’s board of directors adopted the ESPP, which was approved by stockholders at the 2022 annual meeting. Pursuant to the ESPP, employees may contribute up to 15% of their cash compensation during annual purchase periods for the purchase of Cousins’ common stock up to an annual maximum of $21,250 per employee. On each purchase period ending November 30, participants’ individual account balances are used to acquire shares of common stock at 85% of the lower of the Company’s closing price as of December 1 (the beginning of the purchase period) or November 30 (the end of the purchase period). As of December 31, 2024, 2023, and 2022, 66, 43, and 78 employees, respectively, were enrolled in the plan. During the years ended December 31, 2024, 2023, and 2022, 20,292, 25,441, and 22,909 shares of common stock, respectively, were purchased under the ESPP. The total purchase date fair value of the shares purchased during 2024, 2023, and 2022 was $644,000, $522,000 and $604,000, respectively. Contributions for the purchase period ending November 30, 2024, 2023, and 2022 were $379,000, $444,000, and $514,000. As of December 31, 2024, the Company estimates future expense related to the open purchase period to be $99,000.

RETIREMENT SAVINGS PLAN

RETIREMENT SAVINGS PLAN	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
RETIREMENT SAVINGS PLAN	RETIREMENT SAVINGS PLAN The Company maintains a defined contribution plan (the “Retirement Savings Plan”) pursuant to Section 401 of the Internal Revenue Code (the “Code”) which covers active regular employees. Employees are eligible to participate in the Retirement Savings Plan immediately upon hire, and pre-tax contributions are allowed up to the limits set by the Code. The Company contributes 3% of an employee's eligible compensation to the plan, which is fully vested after the employee has been with the Company for two years. The Company may change this percentage at its discre tion; and, in addition, the Company could decide to make discretionary contributions in the future. The Company contributed $1.1 million , $1.1 million, and $1.0 million to the Retirement Savings Plan for the 2024, 2023, and 2022 plan years, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The net income tax benefit differs from the amount computed by applying the statutory federal income tax rate to CTRS' income before taxes as follows ($ in thousands): 2024 2023 2022 Amount Rate Amount Rate Amount Rate Federal income tax benefit (expense) $ 58 21 % $ (149) 21 % $ 85 21 % State income tax benefit (expense) 11 4 % (28) 4 % 16 4 % Tax impact of capital loss carryforward — — % (28) — % (29) — % Tax impact of interest and other book to tax timing differences (147) (54) % — — % — — % Valuation allowance 4 2 % 1 — % (60) (15) % Other 74 27 % 30 — % (12) (10) % Tax expense before utilization of net operating loss carryforward $ — — % $ (174) 25 % $ — — % Utilization of net operating loss carryforward — — % 174 (25) % — — % Benefit applicable to income (loss) from continuing operations $ — — % $ — — % $ — — % The tax effect of significant temporary differences representing deferred tax assets and liabilities of CTRS as of December 31, 2024 and 2023 are as follows ($ in thousands): 2024 2023 Income from unconsolidated joint ventures $ 27 $ 31 Federal and state tax net operating loss carryforwards 1,388 1,462 Interest and other book tax differences 147 — Federal and state tax capital loss carryforwards 152 152 Gross deferred tax asset 1,714 1,645 Valuation allowance (1,714) (1,645) Net deferred tax asset after valuation allowance $ — $ — A valuation allowance is required to be recorded against deferred tax assets if, based on the available evidence, it is more likely than not that such assets will not be realized. When assessing the need for a valuation allowance, appropriate consideration should be given to all positive and negative evidence related to this realization. This evidence includes, among other things, the existence of current and recent cumulative losses, forecasts of future profitability, the length of statutory carryforward periods, the Company’s history with loss carryforwards, and available tax planning strategies. As of December 31, 2024 and 2023, the net deferred tax asset of CTRS equaled $1.7 million

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table sets forth the computation of the basic and diluted earnings per share of the Company's consolidated statements of operations for the years ended December 31, 2024, 2023 and 2022 ($ in thousands, except per share amounts): Year Ended December 31 2024 2023 2022 Earnings per common share - basic: Numerator: Net income $ 46,581 $ 83,816 $ 167,445 Net income attributable to noncontrolling interests in CPLP from continuing operations (8) (14) (143) Net income attributable to other noncontrolling interests (611) (839) (509) Net income available for common stockholders $ 45,962 $ 82,963 $ 166,793 Denominator: Weighted average common shares - basic 153,413 151,714 150,113 Net income per common share - basic $ 0.30 $ 0.55 $ 1.11 Earnings per common share - diluted: Numerator: Net income $ 46,581 $ 83,816 $ 167,445 Net income attributable to other noncontrolling interests (611) (839) (509) Net income available for common stockholders before allocation of net income attributable to noncontrolling interests in CPLP $ 45,970 $ 82,977 $ 166,936 Denominator: Weighted average common shares - basic 153,413 151,714 150,113 Add: Potential dilutive common shares - ESPP 2 — — Potential dilutive restrictive stock units - restricted stock units, less shares assumed purchased at market price 575 301 281 Weighted average units of CPLP convertible into common shares 25 25 25 Weighted average common shares - diluted 154,015 152,040 150,419 Net income per common share - diluted $ 0.30 $ 0.55 $ 1.11

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS - SUPPLEMENTAL INFORMATION	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
CONSOLIDATED STATEMENTS OF CASH FLOWS-SUPPLEMENTAL INFORMATION	CONSOLIDATED STATEMENTS OF CASH FLOWS - SUPPLEMENTAL INFORMATION Supplemental information related to cash flows, including significant non-cash activity affecting the consolidated statements of cash flows, for the years ended December 31, 2024, 2023, and 2022 is as follows ($ in thousands): 2024 2023 2022 Interest paid, net of amounts capitalized $ 107,676 $ 100,553 $ 70,087 Income taxes paid (1) — — 38 Non-Cash Transactions: Retirement of treasury stock 145,696 — — Common stock dividends declared and accrued 55,091 49,384 48,525 Tenant improvements recorded in deferred income 115,838 60,568 80,369 Accrued capital expenditures included in accounts payable and accrued expenses 125,791 124,337 108,497 (1) This represents state income taxes paid in conjunction with gains from sales transaction. See notes 3 and 6.

REPORTABLE SEGMENTS

REPORTABLE SEGMENTS	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
REPORTABLE SEGMENTS	REPORTABLE SEGMENTS The Company's segments are based on the method of internal reporting with operating segments being each of the operating office properties. These operating segments are aggregated for reporting by geographical area, with these geographical regions being: Atlanta, Austin, Charlotte, Dallas, Phoenix, Tampa, and other markets. Included in other markets for the periods presented are properties located in Houston and Nashville. Company management evaluates the performance of its reportable segments in part based on Net Operating Income ("NOI"). Office Property NOI is regularly reported to the Chief Operating Decision Maker ("CODM") by segment. The CODM is the Company's President and Chief Executive Officer. Each segment includes both consolidated operations and the Company's share of unconsolidated joint venture operations. Segment net income, individually significant components of rental property operating expenses, amount of capital expenditures, and total assets are not presented in this note because the CODM does not utilize these measures when analyzing segments or when making resource allocation decisions. The below presentation has been recast for all years presented to comply with updates to ASC 280 required by Accounting Standards Update 2023-07 "ASU 2023-07," "Segment Reporting" issued by the Financial Accounting Standards Board in November 2023. Information on the Company's segments along with a reconciliation of NOI to net income for years ended December 31, 2024, 2023, and 2022 are as follows ($ in thousands): Year Ended December 31, 2024 Rental Property Revenues Rental Property Operating Expenses NOI Atlanta $ 309,807 $ 109,534 $ 200,273 Austin 287,659 95,901 191,758 Tampa 77,238 27,855 49,383 Phoenix 60,397 15,801 44,596 Charlotte 59,008 16,844 42,164 Dallas 17,683 3,746 13,937 Other 35,144 12,108 23,036 Segment Totals $ 846,936 $ 281,789 $ 565,147 Other Non - Office Properties $ 9,501 $ 4,324 $ 5,177 Portfolio Totals $ 856,437 $ 286,113 $ 570,324 Less: Company's share from unconsolidated joint ventures $ (12,069) $ (5,452) Termination Fees 3,405 — Consolidated Totals $ 847,773 $ 280,661 Year Ended December 31, 2023 Rental Property Revenues Rental Property Operating Expenses NOI Atlanta $ 295,255 $ 101,950 $ 193,305 Austin 259,683 89,580 170,103 Tampa 74,813 27,880 46,933 Phoenix 60,540 16,363 44,177 Charlotte 58,348 15,224 43,124 Dallas 16,924 3,850 13,074 Other 26,081 11,412 14,669 Segment Totals $ 791,644 $ 266,259 $ 525,385 Other Non - Office Properties $ 9,021 $ 3,312 $ 5,709 Portfolio Totals $ 800,665 $ 269,571 $ 531,094 Less: Company's share from unconsolidated joint ventures $ (8,961) $ (3,137) Termination Fees 7,343 — Consolidated Totals $ 799,047 $ 266,434 Year Ended December 31, 2022 Rental Property Revenues Rental Property Operating Expenses NOI Atlanta $ 277,287 $ 92,678 $ 184,609 Austin 249,790 96,984 152,806 Tampa 70,991 25,803 45,188 Phoenix 56,413 14,869 41,544 Charlotte 55,330 14,096 41,234 Dallas 16,736 3,846 12,890 Other 28,682 11,806 16,876 Segment Totals $ 755,229 $ 260,082 $ 495,147 Other Non - Office Properties $ 10,754 $ 3,701 $ 7,053 Portfolio Totals $ 765,983 $ 263,783 $ 502,200 Less: Company's share from unconsolidated joint ventures $ (14,936) $ (5,412) Termination Fees 2,464 — Consolidated Totals $ 753,511 $ 258,371 The following reconciles Net Income to Net Operating Income for each of the periods presented ($ in thousands): Year Ended December 31, 2024 2023 2022 Net income $ 46,581 $ 83,816 $ 167,445 Fee income (1,761) (1,373) (6,119) Termination fee income (3,405) (7,343) (2,464) Other income (7,224) (2,454) (2,660) General and administrative expenses 36,566 32,331 28,319 Interest expense 122,476 105,463 72,537 Depreciation and amortization 365,045 314,897 295,587 Reimbursed expenses 634 608 2,024 Other expenses 2,097 2,128 2,134 Loss (income) from unconsolidated joint ventures 2,796 (2,299) (7,700) Net operating income from unconsolidated joint ventures 6,617 5,824 9,524 Gain on sales of investments in unconsolidated joint ventures — — (56,267) Loss (gain) on investment property transactions (98) (504) 9 Gain on extinguishment of debt — — (169) Net Operating Income $ 570,324 $ 531,094 $ 502,200

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2024 ($ in thousands) Initial Cost to Company Costs Capitalized Subsequent Gross Amount at Which Carried Description/Metropolitan Area Encumbrances Land and Buildings and Land and Building and Improvements less Cost of Sales, Transfers and Other Land and Building and Improvements less Cost of Sales, Transfers and Other Total (a)(b) Accumulated Date of Date Life on Which Depreciation in 2024 Statement of Operations is Computed (c) OPERATING PROPERTIES The Domain $ — $ 81,876 $ 755,143 $ 8,129 $ 454,539 $ 90,005 $ 1,209,682 $ 1,299,687 $ 199,744 (d) 2019 5 - 40 years Austin, TX Sail Tower — 64,301 514,276 — — 64,301 514,276 578,577 700 — 2024 5 - 40 years Austin, TX Terminus 221,000 49,050 410,826 — 61,628 49,050 472,454 521,504 83,879 — 2019 5 - 40 years Atlanta, GA Northpark Town Center — 22,350 295,825 — 78,842 22,350 374,667 397,017 120,021 — 2014 5 - 39 years Atlanta, GA 300 Colorado (e) — 18,354 278,905 (49) 83,363 18,305 362,268 380,573 31,022 2022 2021 5 - 40 years Austin, TX Corporate Center (e) — 2,468 272,148 15,642 76,537 18,110 348,685 366,795 97,023 — 2016 5 - 40 years Tampa, FL Buckhead Plaza — 35,064 234,111 — 81,210 35,064 315,321 350,385 70,591 — 2016 5 - 40 years Atlanta, GA Briarlake Plaza — 33,486 196,915 — 106,066 33,486 302,981 336,467 47,601 — 2019 5 - 40 years Houston, TX Hayden Ferry — 13,102 262,578 (252) 59,272 12,850 321,850 334,700 68,825 — 2016 5 - 40 years Phoenix, AZ Spring & 8th — 28,131 — 426 301,791 28,557 301,791 330,348 73,571 2015 2015 5 - 40 years Atlanta, GA The Terrace — 27,360 247,226 — 42,754 27,360 289,980 317,340 50,328 — 2019 5 - 40 years Austin, TX 725 Ponce — 20,720 272,226 — 14,817 20,720 287,043 307,763 30,202 — 2021 5 - 40 years Atlanta, GA Vantage South End — 49,723 249,581 — 11 49,723 249,592 299,315 861 — 2024 5 - 40 years Charlotte, NC One Eleven Congress — 33,841 201,707 — 62,174 33,841 263,881 297,722 62,864 — 2016 5 - 40 years Austin, TX San Jacinto Center — 34,068 176,535 (579) 50,180 33,489 226,715 260,204 50,209 — 2016 5 - 40 years Austin, TX Continued on next page 3344 Peachtree $ — $ 16,110 $ 176,153 $ — $ 42,804 $ 16,110 $ 218,957 $ 235,067 $ 57,415 — 2016 5 - 40 years Atlanta, GA Fifth Third Center 122,802 22,591 180,430 — 31,237 22,591 211,667 234,258 70,560 — 2014 5 - 40 years Charlotte, NC Promenade Tower — 13,439 102,790 — 114,789 13,439 217,579 231,018 71,888 — 2011 5 - 34 years Atlanta, GA The RailYard — 22,831 178,323 — 1,938 22,831 180,261 203,092 24,822 — 2020 5 - 40 years Charlotte, NC 3350 Peachtree — 16,836 108,177 — 69,679 16,836 177,856 194,692 31,341 — 2016 5 - 40 years Atlanta, GA Promenade Central — 19,495 62,836 — 106,878 19,495 169,714 189,209 16,534 2022 2019 5 - 40 years Atlanta, GA 100 Mill — 13,156 — 5 175,314 13,161 175,314 188,475 21,840 2022 2022 5 - 40 years Phoenix, AZ Avalon — 9,952 — 73 175,935 10,025 175,935 185,960 36,751 2016 2016 5 - 40 years Atlanta, GA Colorado Tower (e) 104,080 1,600 — 20,525 133,012 22,125 133,012 155,137 53,786 2013 2013 5 - 30 years Austin, TX Heights Union — 9,545 123,944 — 21,332 9,545 145,276 154,821 17,411 — 2021 5 - 40 years Tampa, FL Legacy Union One — 13,049 128,740 — 231 13,049 128,971 142,020 27,214 — 2019 5 - 40 years Dallas, TX Tempe Gateway — 5,893 95,130 — 33,845 5,893 128,975 134,868 25,164 — 2016 5 - 40 years Phoenix, AZ 550 South (e) — 51 115,238 — 7,939 51 123,177 123,228 31,445 — 2016 5 - 40 years Charlotte, NC Domain Point — 17,349 71,599 — 13,647 17,349 85,246 102,595 19,776 — 2019 5 - 40 years Austin, TX 5950 Sherry Lane — 8,040 65,919 — 12,280 8,040 78,199 86,239 13,633 — 2019 5 - 40 years Dallas, TX 3348 Peachtree — 6,707 69,723 — 8,418 6,707 78,141 84,848 19,924 — 2016 5 - 40 years Atlanta, GA 111 West Rio — 6,076 56,647 (127) 19,115 5,949 75,762 81,711 23,540 2017 2017 5 - 40 years Phoenix, AZ Continued on next page The Pointe $ — $ 9,404 $ 54,694 $ — $ 15,594 $ 9,404 $ 70,288 $ 79,692 $ 17,295 0 2016 5 - 40 years Tampa, FL Harborview Plaza — 10,800 39,136 — 12,913 10,800 52,049 62,849 15,193 — 2016 5 - 40 years Tampa, FL Research Park V — 4,373 — 801 43,945 5,174 43,945 49,119 16,976 2014 1998 5 - 30 years Austin, TX Meridian Mark Plaza — 2,219 — — 25,717 2,219 25,717 27,936 18,704 1997 1997 5 - 30 years Atlanta, GA Miscellaneous Investments — 15,318 69,780 33 2,486 15,351 72,266 87,617 8,598 Total Operating Properties 447,882 758,728 6,067,261 44,627 2,542,232 803,355 8,609,493 9,412,848 1,627,251 LAND South End Station — 28,134 — — — 28,134 — 28,134 — — 2020 Charlotte, NC 887 West Peachtree — 26,312 — — — 26,312 — 26,312 — — 2019 Atlanta, GA Legacy Union 2 & 3 — 22,724 — — — 22,724 — 22,724 — — 2019 Dallas, TX 3354/3356 Peachtree — 21,509 — — — 21,509 — 21,509 — — 2018 Atlanta, GA Domain Central — 21,000 — — — 21,000 — 21,000 — — 2019 Austin, TX 303 Tremont — 18,779 — 75 — 18,854 — 18,854 — — 2020 Charlotte, NC Domain Point 3 — 11,018 — — — 11,018 — 11,018 — — 2020 Austin, TX Corporate Center 5 & 6 (e) — 5,188 — (13) — 5,175 — 5,175 — — 2019 Tampa, FL Total Commercial Land — 154,664 — 62 — 154,726 — 154,726 — Total Properties $ 447,882 $ 913,392 $ 6,067,261 $ 44,689 $ 2,542,232 $ 958,081 $ 8,609,493 $ 9,567,574 $ 1,627,251 COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2024 ($ in thousands) NOTES: (a) Reconciliations of total real estate carrying value and accumulated depreciation as of and for the years ended December 31, 2024, 2023, and 2022 are as follows: Real Estate Accumulated Depreciation 2024 2023 2022 2024 2023 2022 Balance at beginning of period $ 8,392,111 $ 8,087,846 $ 7,714,382 $ 1,329,406 $ 1,079,662 $ 874,988 Additions during the period: Acquisitions 877,881 — — — — — Improvements and other capitalized costs 345,775 350,654 436,201 — — — Depreciation expense — — — 345,738 292,433 267,411 Total Additions 1,223,656 350,654 436,201 345,738 292,433 267,411 Deductions during the period: Cost of real estate sold — (3,700) — — — — Amortization of right-of-use ground lease assets (300) — — — — — Write off of fully depreciated assets (47,893) (42,689) (62,737) (47,893) (42,689) (62,737) Total Deductions (48,193) (46,389) (62,737) (47,893) (42,689) (62,737) Balance at end of period $ 9,567,574 $ 8,392,111 $ 8,087,846 $ 1,627,251 $ 1,329,406 $ 1,079,662 (b) The aggregate cost for federal income tax purposes, net of tax depreciation, was $6.6 billion (unaudited) at December 31, 2024. (c) Buildings and improvements are depreciated over 30 to 40 years. Leasehold improvements and other capitalized leasing costs are depreciated over the life of the asset or the term of the lease, whichever is shorter. (d) Subsequent to the 2019 acquisition of The Domain, the Company completed development of Domain 9 in 2024, Domain 10 in 2021, and Domain 12 in 2020. (e) Some or all of the land at these properties is controlled under an operating ground lease. The Company's Land and Improvements assets are reduced over time by the amortization of the right-of-use assets related to these ground leases.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 45,962	$ 82,963	$ 166,793

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	The day-to-day management of cybersecurity is the responsibility of our Senior Vice President, Chief Information Officer, who oversees our Information Technology ("IT") team. The Chief Information Officer reports directly to the Chief Financial Officer. Our Senior Vice President, Chief Information Officer ("CIO") has served in this role for over eight years, and has more than 20 years of experience in the aggregate in various roles involving managing information security, technology infrastructure, IT operations, and developing cybersecurity strategy. Together with his IT team and external consultants, our CIO is informed about and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents through the management of and participation in the cybersecurity risk management processes described below, including the operation of our cybersecurity incident response plan. For many years, we have strategically invested in our cybersecurity programs across the organization, and we have developed and refined our processes for detecting, evaluating, and responding to potential cybersecurity incidents. In particular, we focus on our networks, applications, data, employees, and vendors with a comprehensive cybersecurity plan, informed by nationally recognized frameworks which we use to monitor and improve our program as compared to the framework controls. In addition to our ongoing monitoring, we engage a third-party advisor to perform cybersecurity risk assessments of our information technology security processes and implemented technologies. We have segmented our building networks so that they are separate from our corporate network, and using third party services, we monitor, scan, assess, audit, and remediate identified vulnerabilities across those networks, as appropriate. Furthermore, recognizing that our employees are an essential line of defense in cybersecurity, we engage with our employees in a training and testing program through which we provide education on the risk of potential cybersecurity incidents, methods for identification of such incidents and appropriate responses. Our policies and processes are informed by industry standard practices regarding application security, access management, device protection, network management, and data loss prevention and recovery, and we also maintain a business continuity and disaster recovery plan (including a cybersecurity incident response plan) to reduce the risk and impact of business interruptions, across a range of disaster scenarios, including potential impacts from a cybersecurity incident. Our business continuity and disaster recovery plan and our cybersecurity incident response plan are reviewed at least annually, and we also periodically conduct tabletop exercises that include the CIO and key members of management. Our cybersecurity incident response plan includes retention of external experts for prompt assistance following discovery of any material incident. This cybersecurity incident response plan is part of our ongoing cybersecurity vulnerability management, and we endeavor to maintain appropriate controls to identify, monitor, analyze, and address potential cybersecurity incidents, including potential unauthorized access to our networks and applications, along with detection of potential unusual activity within our networks or applications. Based on the context and details of the potential cybersecurity incident, the incident response plan includes prompt review by one or more members of the IT team, with appropriate responses deployed as promptly as is practicable under the circumstances. Additionally, the CIO receives reports on potential cybersecurity incidents. As part of overall enterprise risk management, additional reporting of potential cybersecurity incidents is also provided to our General Counsel, Chief Accounting Officer, Chief Financial Officer, and the Audit Committee or the full Board, as appropriate. Our Board of Directors provides oversight of risks from cybersecurity threats, in coordination with our management team and the Audit Committee of the Board. Our Board relies on management to bring significant matters impacting the Company to its attention, including with respect to material risks from cybersecurity threats. Our CIO reports on cybersecurity strategy, status of cybersecurity risk control efforts, and third-party cybersecurity risk assessments of our information technology security processes and implemented technologies to the General Counsel, Chief Accounting Officer, Chief Financial Officer, Chief Executive Officer, and our Audit Committee. Our full Board has access to these Audit Committee presentations, including any provided materials. In the event of any material cybersecurity incidents, these presentations would also include information regarding those incidents, including status of mitigation and remediation. Our Audit Committee provides an additional layer of cybersecurity oversight and is responsible for discussing cybersecurity concerns (including data privacy risk management) and the steps management has taken to monitor and control such exposures with management. As part of this oversight, the Audit Committee reviews the results of a biannual risk assessment designed to identify and analyze risks to achieving the Company’s business objectives, including material risks from cybersecurity threats. The results of the biannual risk assessment are discussed with management and used to develop the Company’s internal audit plan.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	For many years, we have strategically invested in our cybersecurity programs across the organization, and we have developed and refined our processes for detecting, evaluating, and responding to potential cybersecurity incidents. In particular, we focus on our networks, applications, data, employees, and vendors with a comprehensive cybersecurity plan, informed by nationally recognized frameworks which we use to monitor and improve our program as compared to the framework controls. In addition to our ongoing monitoring, we engage a third-party advisor to perform cybersecurity risk assessments of our information technology security processes and implemented technologies. We have segmented our building networks so that they are separate from our corporate network, and using third party services, we monitor, scan, assess, audit, and remediate identified vulnerabilities across those networks, as appropriate. Furthermore, recognizing that our employees are an essential line of defense in cybersecurity, we engage with our employees in a training and testing program through which we provide education on the risk of potential cybersecurity incidents, methods for identification of such incidents and appropriate responses. Our policies and processes are informed by industry standard practices regarding application security, access management, device protection, network management, and data loss prevention and recovery, and we also maintain a business continuity and disaster recovery plan (including a cybersecurity incident response plan) to reduce the risk and impact of business interruptions, across a range of disaster scenarios, including potential impacts from a cybersecurity incident. Our business continuity and disaster recovery plan and our cybersecurity incident response plan are reviewed at least annually, and we also periodically conduct tabletop exercises that include the CIO and key members of management.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Board of Directors provides oversight of risks from cybersecurity threats, in coordination with our management team and the Audit Committee of the Board. Our Board relies on management to bring significant matters impacting the Company to its attention, including with respect to material risks from cybersecurity threats. Our CIO reports on cybersecurity strategy, status of cybersecurity risk control efforts, and third-party cybersecurity risk assessments of our information technology security processes and implemented technologies to the General Counsel, Chief Accounting Officer, Chief Financial Officer, Chief Executive Officer, and our Audit Committee. Our full Board has access to these Audit Committee presentations, including any provided materials. In the event of any material cybersecurity incidents, these presentations would also include information regarding those incidents, including status of mitigation and remediation.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The day-to-day management of cybersecurity is the responsibility of our Senior Vice President, Chief Information Officer, who oversees our Information Technology ("IT") team.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Board of Directors provides oversight of risks from cybersecurity threats, in coordination with our management team and the Audit Committee of the Board. Our Board relies on management to bring significant matters impacting the Company to its attention, including with respect to material risks from cybersecurity threats. Our CIO reports on cybersecurity strategy, status of cybersecurity risk control efforts, and third-party cybersecurity risk assessments of our information technology security processes and implemented technologies to the General Counsel, Chief Accounting Officer, Chief Financial Officer, Chief Executive Officer, and our Audit Committee. Our full Board has access to these Audit Committee presentations, including any provided materials. In the event of any material cybersecurity incidents, these presentations would also include information regarding those incidents, including status of mitigation and remediation.
Cybersecurity Risk Role of Management [Text Block]	The day-to-day management of cybersecurity is the responsibility of our Senior Vice President, Chief Information Officer, who oversees our Information Technology ("IT") team. The Chief Information Officer reports directly to the Chief Financial Officer. Our Senior Vice President, Chief Information Officer ("CIO") has served in this role for over eight years, and has more than 20 years of experience in the aggregate in various roles involving managing information security, technology infrastructure, IT operations, and developing cybersecurity strategy. Together with his IT team and external consultants, our CIO is informed about and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents through the management of and participation in the cybersecurity risk management processes described below, including the operation of our cybersecurity incident response plan.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The day-to-day management of cybersecurity is the responsibility of our Senior Vice President, Chief Information Officer, who oversees our Information Technology ("IT") team. The Chief Information Officer reports directly to the Chief Financial Officer.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our Senior Vice President, Chief Information Officer ("CIO") has served in this role for over eight years, and has more than 20 years of experience in the aggregate in various roles involving managing information security, technology infrastructure, IT operations, and developing cybersecurity strategy.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our Board of Directors provides oversight of risks from cybersecurity threats, in coordination with our management team and the Audit Committee of the Board. Our Board relies on management to bring significant matters impacting the Company to its attention, including with respect to material risks from cybersecurity threats. Our CIO reports on cybersecurity strategy, status of cybersecurity risk control efforts, and third-party cybersecurity risk assessments of our information technology security processes and implemented technologies to the General Counsel, Chief Accounting Officer, Chief Financial Officer, Chief Executive Officer, and our Audit Committee. Our full Board has access to these Audit Committee presentations, including any provided materials. In the event of any material cybersecurity incidents, these presentations would also include information regarding those incidents, including status of mitigation and remediation.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The consolidated financial statements include the accounts of the Company and its consolidated partnerships and wholly-owned subsidiaries. Intercompany transactions and balances have been eliminated in consolidation. The Company presents its financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”) as outlined in the Financial Accounting Standard Board’s Accounting Standards Codification (the “Codification” or “ASC”). The Codification is the single source of authoritative accounting principles applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP.
Cost Capitalization, Depreciation and Amortization	Cost Capitalization: Costs related to planning, developing, leasing, and constructing a property, including costs of personnel working directly on projects under development or redevelopment, are capitalized. In addition, the Company capitalizes interest to qualifying assets under development or redevelopment based on average accumulated expenditures outstanding during the period. In capitalizing interest to qualifying assets, the Company uses the interest incurred on specific project debt, if any. If there is no specific project debt, the Company uses its weighted average interest rate for non-project specific debt. The Company also capitalizes interest to investments in entities accounted for under the equity method when the entity has property under development or redevelopment with a carrying value in excess of the entity’s borrowings. To the extent debt exists within an unconsolidated joint venture during the construction period, the venture capitalizes interest on that venture-specific debt. The Company capitalizes interest, real estate taxes, and certain operating expenses on the unoccupied portion of development or redevelopment properties, which have ongoing construction of tenant improvements, until the earlier of the date on which the development project achieves 90% economic occupancy or one year from cessation of major construction activity. Depreciation and Amortization: Real estate assets are stated at depreciated cost less impairment, if any. Buildings are depreciated over their estimated useful lives, which range generally from 30 to 40 years. The life of a particular building depends upon a number of factors including whether the building was developed or acquired, and the condition of the building upon acquisition, and the Company's future plans for the building. Furniture, fixtures, and equipment are depreciated over their estimated useful lives of three
Impairment	Impairment: We review our real estate assets on an asset group basis for impairment. This review includes our operating properties, properties under development, and land holdings. The first step in this process is to determine whether an asset is considered to be held-for-investment or held-for-sale, in accordance with accounting guidance. In order to be considered a real estate asset held-for-sale, we must, among other things, have the authority to commit to a plan to sell the asset in its current condition, have commenced the plan to sell the asset, and have determined that it is probable that the asset will sell within one year. If we determine that an asset is held-for-sale, we record an impairment loss if the fair value less costs to sell is less than the carrying amount. There were no held-for-sale buildings as of December 31, 2024, or 2023, and no impairments of held-for-sale buildings during any periods presented in the accompanying statement of operations. All real estate assets not meeting the held-for-sale criteria are considered to be held-for-investment. In the impairment analysis for assets held-for-investment, we must determine whether there are indicators of impairment. For operating properties, these indicators could include a significant decline in a property’s leasing percentage, a current period operating loss or negative cash flows combined with a history of losses at the property, a decline in lease rates for that property or others in the property’s market, a significant change in the market value of the property, an adverse change in the financial condition of significant tenants, or a significant decrease in the estimated hold period. If indicators of impairment exist, we test for recoverability of the asset group’s book value. When testing for recoverability of asset groups held-for-investment, projected undiscounted 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 this recoverability 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. For projects under development, indicators could include material budget overruns, significant delays in construction, occupancy, or stabilization timing, regulatory changes or economic trends that have a significant impact on the market, or an adverse change in the financial condition of significant future tenants. None of the Company's projects under development were impaired during any periods presented in the accompanying statement of operations. For land holdings, indicators could include an overall decline in the market value of land in the region, regulatory changes that impact ability to develop the land, a decline in development activity for the intended use of the land, or other adverse economic and market conditions. None of the Company's investments in land, including any accumulated predevelopment costs, were impaired during any periods presented in the accompanying statement of operations. The Company may record impairment charges in future periods if the economy and the office industry weakens, the operating results of individual buildings are materially different from our forecasts, or we shorten our contemplated holding period for any operating buildings.
Acquisition of Real Estate Assets	Acquisition of Real Estate Assets: The Company evaluates all real estate acquisitions to determine if the transactions qualify as an acquisition of assets or of a business. If the Company determines that substantially all of the fair value is concentrated in a single identifiable asset or group of similar assets, the Company will account for the acquisition as an acquisition of assets and not a business. If the Company determines that there is no single asset or group of assets that make up substantially all of the fair value of gross assets acquired, the Company must determine whether the acquired set of assets includes an input and a substantive process that together significantly contribute to the ability to create output. Based on the facts of the transactions and guidance in ASC 805, if the Company determines that an input and substantial processes that create an output are present, the Company will account for the acquisition as an acquisition of a business. For asset acquisitions, the Company records the acquired tangible and intangible assets and assumed liabilities based on each asset and liability's relative fair value at the acquisition date to the total purchase price plus capitalized acquisition costs. For acquisitions that are accounted for as an acquisition of a business, the Company records the acquired tangible and intangible assets and assumed liabilities at fair value at the acquisition date, excluding any acquisition costs, which are expensed as incurred. The acquired assets and assumed liabilities for an operating property acquisition generally include but are not limited to: land, buildings and improvements, and identified tangible and intangible assets and liabilities associated with in-place leases, including tenant improvements, leasing costs, value of above-market and below-market tenant leases, value of above-market and below-market ground leases, and acquired in-place lease values. The fair value of land is derived from comparable sales of land within the same submarket and/or region. The fair value of buildings and improvements, tenant improvements, and leasing costs are based upon current market replacement costs and other relevant market rate information. The fair value of the above-market or below-market component of an acquired lease is based upon the present value (calculated using a market discount rate) of the difference between (i) the contractual rents to be paid pursuant to the lease over its remaining term, and (ii) management’s estimate of the rents that would be paid using fair market rental rates and rent escalations at the date of acquisition over the remaining term of the lease. The amounts recorded for above-market and below-market ground leases are included in intangible liabilities and intangible assets, respectively, and are amortized on a straight-line basis into rental property revenues over the remaining terms of the applicable leases. The fair value of acquired in-place leases is derived based on management’s assessment of lost revenue and costs incurred for the period required to lease the “assumed vacant” property to the occupancy level when purchased. The amount recorded for acquired in-place leases is included in intangible assets and amortized as an increase to depreciation and amortization expense over the remaining term of the applicable leases.
Investment in Joint Ventures	Investment in Real Estate Debt The Company has elected the fair value option in accounting for its investments in real estate debt. The Company evaluates the fair value of these receivables in accordance with the accounting standards for fair value accounting, measuring the receivables on a stand-alone basis using recently executed market transactions (Level 2 input) or, when that is not available, a market valuation based on the assumptions of potential market participants. The rates and ranges used in a market valuation are considered Level 3 inputs under the fair value hierarchy. Interest income earned and any unrealized gain or loss associated with holding these investments at fair value is recorded as a component of other income on the Company's consolidated statement of operations. Acquisition costs associated with these loans are expensed as incurred. Investment in Joint Ventures For joint ventures that the Company does not control, but over which it exercises significant influence, the Company uses the equity method of accounting. The Company's judgment with regard to its level of influence or control of an entity involves consideration of various factors including the form of its ownership interest; its representation in the entity's governance; its ability to participate in policy-making decisions; and the rights of other investors to participate in the decision-making process, to replace the Company as manager, and/or to liquidate the venture. These ventures are recorded at cost and adjusted for equity (losses) in earnings and cash contributions and distributions. Any difference between the carrying amount of these investments on the Company’s consolidated balance sheet and the underlying equity in net assets on the joint venture’s balance sheet is primarily related to capitalized interest and certain employees' salaries during development stages of the joint venture's property and is adjusted as the related underlying assets are depreciated, amortized, or sold. The Company generally allocates income and loss from an unconsolidated joint venture based on the venture's distribution priorities, which may be different from its stated ownership percentage. The Company evaluates the recoverability of its investment in unconsolidated joint ventures in accordance with accounting standards for equity investments by first reviewing each investment for any indicators of impairment. If indicators are present, the Company estimates the fair value of the investment. If the carrying value of the investment is greater than the estimated fair value, management makes an assessment of whether the impairment is “temporary” or “other-than-temporary.” In making this assessment, management considers the following: (i) the length of time and the extent to which fair value has been less than cost, (ii) the financial condition and near-term prospects of the entity, and (iii) the Company’s intent and ability to retain its interest long enough for a recovery in market value. If management concludes that the impairment is "other than temporary," the Company reduces the investment to its estimated fair value. There were no impairments recorded in our investments in joint ventures during the years presented in the accompanying statement of operations.
Noncontrolling Interest	Noncontrolling Interest The Company consolidates CPLP and certain joint ventures in which it owns a controlling interest. In cases where the entity’s documents do not contain a required redemption clause, the Company records the partner’s share of the entity in the equity section of the balance sheets in nonredeemable noncontrolling interests. In cases where the entity’s documents contain a provision requiring the Company to purchase the partner’s share of the venture at a certain value upon demand or at a future date, if any, the Company records the partner’s share of the entity in redeemable noncontrolling interests on the balance sheets. The outside partners' interests in CPLP are redeemable on a one-for-one basis, upon demand, into shares of common stock of the Company or, at the Company's sole discretion, into the cash equivalent of such share of common stock. Therefore, noncontrolling interests associated with CPLP are considered nonredeemable noncontrolling interests. The noncontrolling partners' share of all consolidated entities' income is reflected in net income attributable to noncontrolling interest on the statements of operations.
Revenue Recognition	Revenue Recognition Rental Property Revenues: The Company recognizes contractual revenues from leases on a straight-line basis over the term of the respective lease. Our leases regularly include allowances for tenant improvements. If we determine the improvements are our assets, we capitalize the cost of the improvements and recognize depreciation expense associated with such improvements over the shorter of the estimated useful life or the term of the lease. If the improvements are tenant assets, we defer the cost of improvements funded by us as a lease incentive asset and amortize it as a reduction of rental revenue over the term of the lease. Our determination of whether improvements are our assets or tenant assets also affects when we commence revenue recognition in connection with a lease. The Company records deferred revenue for the portion of company owned tenant improvements funded by or reimbursed by tenants and amortizes this amount on a straight-line basis into rental income over the term of the related lease. As of December 31, 2024 and 2023, the Company had unamortized deferred income related to tenant-funded tenant improvements of $228.4 million and $141.0 million, respectively, included in deferred income on the consolidated balance sheets. During 2024, 2023, and 2022, the Company recognized $28.4 million, $20.0 million, and $11.2 million, respectively, in revenues related to the amortization of tenant-funded tenant improvements. Fee Income: The Company recognizes development, management, and leasing fees as it satisfies the related performance obligations under the respective contracts. The Company recognizes development and leasing fees received from investments in unconsolidated joint ventures and related salaries and other direct costs incurred by the Company as income and expense based on the percentage of the joint venture which the Company does not own. Correspondingly, the Company adjusts its investment in unconsolidated joint ventures when fees are paid to the Company by a joint venture in which the Company has an ownership interest. Gain on Investment Property Transactions: The Company recognizes a gain on the sale of investment property at the time the buyer obtains control of the investment property. If the Company maintains any continuing involvement with the investment property, that continuing involvement is considered to be one or more additional performance obligations and additional gains or losses will be recognized as these performance obligations are satisfied. When the Company gains control of a previously unconsolidated investment accounted for under the equity method of accounting, it records a gain for the difference between the carrying value of its equity method investment and the fair value of that investment on the date control is gained.
Income Taxes	Income Taxes The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, the Company must distribute annually at least 90% of its adjusted taxable income, as defined in the Code, to its stockholders and satisfy certain other organizational and operating requirements. It is management’s current intention to adhere to these requirements and maintain the Company's REIT status. As a REIT, the Company generally will not be subject to federal income tax at the corporate level on the taxable income it distributes to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes at regular corporate rates and may not be able to qualify as a REIT for four subsequent taxable years. The Company may be subject to certain state and local taxes on its income and property, and to federal income taxes on its undistributed taxable income.
Stock Compensation	Stock Compensation The Company accounts for stock-based employee compensation using the fair value measurement method. We classify share-based payment awards granted in exchange for employee services as either equity awards or liability awards. All current stock-based compensation are equity-classified awards that are measured based on the fair value on the date of grant, and the Company has no liability awards outstanding as of December 31, 2024 or 2023. The value of all of the Company's share-based awards is recognized over the period during which an employee is required to provide services in exchange for the award - the requisite service period (usually the vesting period). No compensation costs are recognized for awards for which employees do not complete the requisite service period.
Derivative Financial Instruments	Derivative Financial Instruments The Company manages its exposure to interest rate risk associated with its floating-rate debt using derivative financial instruments, specifically interest rate swaps. The current interest rate swaps are cash flow hedges involving the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The Company does not hold or issue derivative financial instruments for trading or speculative purposes. Derivatives are carried at fair value on the balance sheet as either other assets or other liabilities. If the hedging instrument is designated as a cash flow hedge and is determined to be highly effective, any gain or loss from changes in the fair value of the hedging instruments are reported as a component of other comprehensive income included in the equity section of the balance sheet. When the forecasted transaction occurs, the effective portion of the gain or loss on the hedge is reclassified from other comprehensive income to interest expense on the income statement. The Company regularly assesses the effectiveness of the hedge relationships between the hedging instrument and the underlying exposure being hedged. The Company also regularly assesses the effectiveness of its risk management strategies and its use of derivative financing instruments.
Earnings per Share	Earnings per Share Net income per share-basic is calculated as net income available to common stockholders divided by the weighted average number of common shares outstanding during the period, including unvested restricted stock which has nonforfeitable dividend rights. Net income per share-diluted is calculated as net income available to common stockholders plus noncontrolling interests in CPLP divided by the diluted weighted average number of common shares outstanding during the period. Diluted weighted average number of common shares uses the same weighted average common share number as in the basic calculation and adds the potential dilution that would occur if (i) the outside units in CPLP were converted into the Company's common stock, (ii) any forward sales contracts of our common stock were settled, and (iii) equity-based restricted stock units ("RSUs") as well as shares to be issued under the Employee Stock Purchase Plan (“ESPP”) were vested and settled resulting in additional common shares outstanding, all calculated using the treasury stock method, as applicable. RSUs are dilutive if the shares to be granted (assuming the end of the reporting period is the end of the measurement of any required market and performance achievement) exceed the shares assumed to be repurchased under the treasury stock method (using related unamortized compensation costs as proceeds). Shares to be issued under the ESPP are dilutive if the estimated shares to be purchased under the plan based on current enrollment elections exceed the shares assumed to be repurchased under the treasury stock method (using both employee ESPP contributions and related unamortized compensation costs as proceeds).
Cash and Cash Equivalents	Cash and Cash Equivalents
Restricted Cash	Restricted Cash
Determination of Fair Values	Determination of Fair Values The Company uses fair values in the preparation of the financial statements and related footnote disclosures under the Fair Value Hierarchy prescribed by GAAP. The hierarchy is used for recording fair value of investments in real estate debt (see note 5), disclosing fair values of debt as of the balance sheet date (see note 9), and recording cash flow hedges (see note 10). The determinations of fair value for investments in real estate debt are made based on Level 3 inputs when Level 2 inputs are not available. Determinations of fair value of debt and for recording of cash flow hedges are based on Level 2 inputs. Inputs are described more fully in the respective footnotes. Fair values used for stock compensation are based on the assumptions and methodologies described in note 15 and are excepted from the Fair Value Hierarchy disclosure requirements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Reportable Segments	The Company's segments are based on the method of internal reporting with operating segments being each of the operating office properties. These operating segments are aggregated for reporting by geographical area, with these geographical regions being: Atlanta, Austin, Charlotte, Dallas, Phoenix, Tampa, and other markets. Included in other markets for the periods presented are properties located in Houston and Nashville. Company management evaluates the performance of its reportable segments in part based on Net Operating Income ("NOI"). Office Property NOI is regularly reported to the Chief Operating Decision Maker ("CODM") by segment. The CODM is the Company's President and Chief Executive Officer. Each segment includes both consolidated operations and the Company's share of unconsolidated joint venture operations.

REAL ESTATE (Tables)

REAL ESTATE (Tables)	12 Months Ended
	Dec. 31, 2024
Real Estate [Abstract]
Summary of Acquisition Transactions	The following table summarizes the acquisition transactions ($ in thousands): Sail Tower Vantage South End Closing Purchase Price $ 521,775 $ 328,500 Acquisition Date December 2024 December 2024 Square Feet 804,000 639,000 Market Austin Charlotte Purchase Price Allocation Tangible assets Operating properties $ 578,576 $ 299,305 Intangible and other assets In-place leases (1) 48,497 29,885 Above market leases (1) — 4,898 Prepaid expenses 28 78 48,525 34,861 Intangible and other liabilities Below market leases (1) (72,369) (5,124) Tenant allowance payable (32,238) — Accounts payable and other liabilities (11,270) (1,705) (115,877) (6,829) Total net assets acquired (2) $ 511,224 $ 327,337 (1) The intangible assets and liabilities will be amortized over a weighted average remaining lease term of 11 years from the acquisition dates. (2) Represents net purchase price, including acquisition costs of $691,000 and $463,000, as well as net operating liabilities acquired through closing prorations of $11.3 million and $1.7 million for Sail Tower and Vantage South End, respectively.

GROUND LEASES (Tables)

GROUND LEASES (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Future Minimum Payments on Operating Ground Leases, ASU 842	The following table represents the undiscounted cash flows of our scheduled obligations for future minimum payments for ground leases as of December 31, 2024, with a reconciliation of these cash flows to the related ground lease liabilities in accordance with ASC 842 ($ in thousands): Operating Ground Leases 2025 $ 1,958 2026 2,006 2027 2,010 2028 2,022 2029 2,022 Thereafter 169,268 $ 179,286 Discount (129,283) Lease liability $ 50,003

INVESTMENTS IN REAL ESTATE DE_2

INVESTMENTS IN REAL ESTATE DEBT (Tables)	12 Months Ended
	Dec. 31, 2024
Investments, All Other Investments [Abstract]
Schedule of Investments In Real Estate Debt	The details of these real estate debt investments as of December 31, 2024 are as follows ($ in thousands): Collateral Carrying Value and Fair Value Variable Rate (1) Maturity Date 110 East - Pledge of equity interests (2) Charlotte, NC, Office Building $ 16,559 13.40 % February 2026 Radius - Pledge of equity interests (2) Nashville, TN, Office Building 12,660 12.65 % June Saint Ann - Pledge of asset Dallas, TX, Office Building 138,000 8.06 % (3) December 2024 $ 167,219 (1) Represents the variable interest rate at December 31, 2024, including a SOFR base rate of 4.40%. (2) The first priority lender of these two mortgage loans had a combined balance of $152.7 million as of December 31, 2024. (3) Excludes the additional default of interest of 5% in effect from December 7, 2024, through the January 7, 2025 payoff.

INVESTMENT IN UNCONSOLIDATED _2

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)	12 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule 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 December 31, 2024 and 2023 ($ in thousands). SUMMARY OF FINANCIAL POSITION Total Assets Total Liabilities Total Equity (Deficit) Company's Investment 2024 2023 2024 2023 2024 2023 2024 2023 Operating Properties: AMCO 120 WT Holdings, LLC $ 74,984 $ 80,694 $ 1,254 $ 2,052 $ 73,730 $ 78,642 $ 13,503 $ 14,506 Crawford Long - CPI, LLC 19,306 22,001 83,571 84,563 (64,265) (62,562) (31,626) (1) (31,066) (1) Neuhoff Holdings LLC 573,495 477,780 306,055 251,477 267,440 226,303 150,376 124,543 TL CO Proscenium JV, LLC 86,517 — 3,889 — 82,628 — 16,768 — Land: 715 Ponce Holdings LLC 9,442 9,325 57 1 9,385 9,324 4,831 4,782 $ 763,744 $ 589,800 $ 394,826 $ 338,093 $ 368,918 $ 251,707 $ 153,852 $ 112,765 (1) These negative balances are included in deferred income on the consolidated balance sheets. The information included in the summary of operations table is for the years ended December 31, 2024, 2023, and 2022 ($ in thousands). SUMMARY OF OPERATIONS Total Revenues Net Income (Loss) Company's Income (Loss) 2024 2023 2022 2024 2023 2022 2024 2023 2022 Operating Properties: AMCO 120 WT Holdings, LLC $ 10,947 $ 11,407 $ 10,844 $ 1,450 $ 2,822 $ 3,245 $ 271 $ 562 $ 632 Crawford Long - CPI, LLC 13,371 13,097 13,298 3,047 3,692 4,530 1,393 1,709 2,117 Neuhoff Holdings LLC (1) 3,431 214 140 (7,203) (120) 94 (4,224) (77) 47 TL CO Proscenium JV, LLC 7,606 — — (893) — — (267) — — Land: 715 Ponce Holdings LLC 177 268 287 61 177 183 31 88 91 Sold and Other: Carolina Square Holdings LP — — 12,071 — 48 503 — 24 164 HICO Victory Center LP — — 92 — (14) 6,735 — (7) 4,546 Other — — 28 — — (12) — — 103 $ 35,532 $ 24,986 $ 36,760 $ (3,538) $ 6,605 $ 15,278 $ (2,796) $ 2,299 $ 7,700 (1) The Neuhoff Holdings LLC properties have commenced initial operations, but are not yet stabilized.

INTANGIBLE ASSETS AND LIABILI_2

INTANGIBLE ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Liabilities	At December 31, 2024 and 2023, intangible assets and liabilities included the following ($ in thousands): 2024 2023 Intangible Assets: In-place leases, net of accumulated amortization of $135,945 and $135,433 in 2024 and 2023, respectively $ 139,704 $ 80,117 Below-market ground leases, net of accumulated amortization of $2,572 and $2,260 in 2024 and 2023, respectively 16,681 16,992 Above-market leases, net of accumulated amortization of $24,190 and $24,918 in 2024 and 2023, respectively 13,930 11,884 Goodwill 1,674 1,674 $ 171,989 $ 110,667 Intangible Liabilities: Below-market leases, net of accumulated amortization of $56,982 and $50,475 in 2024 and 2023 $ 111,221 $ 42,193
Schedule of Amortization of Intangible Asset and Liabilities	For the years ended December 31, 2024, 2023, and 2022, the amortization of the above asset and liabilities are recorded as follows ($ in thousands): 2024 2023 2022 Revenues: Rental property revenues, net (Below-market and Above-market leases) $ 6,142 $ 6,876 $ 6,446 Expenses: Depreciation and amortization (In-place leases) 18,793 21,964 27,458 Rental property operating and other expenses (Below-market ground leases) 318 400 411
Schedule of 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 Leases Below-Market Ground Leases Above-Market Leases Below-Market Leases Total 2025 $ 21,701 $ 282 $ 2,679 $ (13,709) $ 10,953 2026 19,348 282 2,291 (12,490) 9,431 2027 16,762 282 1,870 (10,955) 7,959 2028 13,942 282 1,761 (9,808) 6,177 2029 12,548 210 1,496 (9,404) 4,850 Thereafter 55,403 15,343 3,833 (54,855) 19,724 $ 139,704 $ 16,681 $ 13,930 $ (111,221) $ 59,094 Weighted average remaining lease term 9 years 62 years 7 years 11 years

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	At December 31, 2024 and 2023, other assets included the following ($ in thousands): 2024 2023 Predevelopment costs $ 58,224 $ 56,600 Lease inducements, net of accumulated amortization of $8,181 and $5,860 in 2024 and 2023, respectively 11,024 10,537 Furniture, fixtures, and equipment and other deferred costs, net of accumulated depreciation of $20,004 and $18,564 in 2024 and 2023, respectively 9,491 10,631 Prepaid expenses and other assets 4,492 8,704 Credit Facility deferred financing costs, net of accumulated amortization of $3,416 and $2,131 in 2024 and 2023, respectively 2,988 4,273 $ 86,219 $ 90,745

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Terms of Notes Payable	The following table summarizes the terms of notes payable outstanding at December 31, 2024 and 2023 ($ in thousands): Description Interest Rate (1) Maturity (2) 2024 2023 Unsecured Notes: Credit Facility 5.185% April 2027 $ 112,332 $ 185,100 Public Senior Notes 5.875% October 2034 500,000 — Public Senior Notes 5.375% February 2032 400,000 — Term Loan (3) 5.433% September 2025 400,000 400,000 Privately Placed Senior Note 3.95% July 2029 275,000 275,000 Term Loan (4) 5.41% August 2025 250,000 350,000 Privately Placed Senior Note 3.91% July 2025 250,000 250,000 Privately Placed Senior Note 3.86% July 2028 250,000 250,000 Privately Placed Senior Note 3.78% July 2027 125,000 125,000 Privately Placed Senior Note 4.09% July 2027 100,000 100,000 2,662,332 1,935,100 Secured Mortgage Notes: Terminus (5) 6.34% January 2031 221,000 221,000 Fifth Third Center 3.37% October 2026 122,802 126,548 Colorado Tower 3.45% September 2026 104,080 106,862 Domain 10 3.75% November 2024 — 72,558 447,882 526,968 $ 3,110,214 $ 2,462,068 Unamortized original issue discount (3,560) — Unamortized loan costs (10,988) (4,441) Total Notes Payable $ 3,095,666 $ 2,457,627 (1) Interest rate as of December 31, 2024. (2) Weighted average maturity of notes payable outstanding at December 31, 2024 was 4.2 years. Unexercised extension options are not included. (3) In December 2024, the Company delivered notice to the administrative agent of the Term Loan notice of its execution of the first of four available six month extension options. The extension will be effective March 3, 2025. (4) In December 2024, the Company delivered notice to the administrative agent of the Term Loan notice of its execution of the second of four available 180 day extension options. The extension will be effective February 26, 2025.
Schedule of Interest Recorded	For the years ended December 31, 2024, 2023, and 2022, interest was recorded as follows ($ in thousands): 2024 2023 2022 Total interest incurred $ 135,025 $ 123,830 $ 87,937 Interest capitalized (12,549) (18,367) (15,400) Total interest expense $ 122,476 $ 105,463 $ 72,537
Schedule of Future Principal Payments Due	Future principal payments due (including scheduled amortization payments and payments due upon original maturity) on the Company's notes payable at December 31, 2024 are as follows ($ in thousands): 2025 $ 906,755 2026 220,127 2027 337,332 2028 250,000 2029 275,000 Thereafter 1,121,000 $ 3,110,214

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Reclassification out of Accumulated Other Comprehensive Income	The table below presents the effect of the Company's derivative financial instruments on the consolidated statements of operations as of December 31, 2024, 2023, and 2022 ($ in thousands): Cash Flow Hedge: 2024 2023 2022 Amount of income recognized in accumulated other comprehensive income on interest rate derivatives $ 2,935 $ 4,357 $ 1,063 Amount of loss (income) reclassified from accumulated other comprehensive income into income as an increase (reduction) of interest expense $ (5,232) $ (3,932) $ 704 Total amount of interest expense presented in the consolidated statements of operations $ 122,476 $ 105,463 $ 72,537

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Other Liabilities	Other liabilities on the consolidated balance sheets as of December 31, 2024 and 2023 included the following ($ in thousands): 2024 2023 Ground lease liability $ 50,003 $ 53,348 Prepaid rent 41,949 34,872 Security deposits 17,043 15,050 Other liabilities 1,717 1,560 $ 110,712 $ 104,830

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Schedule of Distribution of Taxable Income	The following reconciles dividends paid and dividends applied in 2024, 2023, and 2022 to meet REIT distribution requirements ($ in thousands): 2024 2023 2022 Common dividends $ 195,413 $ 194,144 $ 192,275 Dividends treated as taxable compensation to employees (1,214) (308) (231) Dividends in excess of current year REIT distribution requirements (41,356) (39,933) — Dividends applied to meet current year REIT distribution requirements $ 152,843 $ 153,903 $ 192,044
Schedule of Components of the Taxability of the Company's Dividends	The following summarizes the components of the taxability of the Company’s common stock distributions for the years ended December 31, 2024, 2023, and 2022: Total Ordinary Long-Term Non Dividend Distributions Unrecaptured Section 1061 One Year Amounts Disclosure (2) Section 1061 Three Year Amounts Disclosure (2) 2024 $ 1.280000 $ 1.007420 $ — $ 0.272580 $ — $ — $ — 2023 $ 1.280000 $ 1.008002 $ 0.008302 $ 0.263696 $ — $ 0.008302 $ 0.008302 2022 $ 1.270000 $ 0.880788 $ 0.389212 $ — $ 0.045470 $ 0.389212 $ 0.389212 (1) 100% of the amounts included in Ordinary Dividends is treated as "qualified REIT dividends" for purposes of section 199A of the Internal Revenue Code. None of the amounts are section 897 gains attributable to the disposition of U.S. real property interests for foreign shareholders. (2) Total Capital Gain Distributions for purposes of section 1061 of the Internal Revenue Code. Section 1061 is generally applicable to direct and indirect holders of "applicable partnership interests".

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Future Minimum Rentals to be Received under Existing Non-cancelable Leases	The following tables set forth the future minimum cash rents to be received by consolidated entities under existing non-cancellable leases as of December 31, 2024 ($ in thousands): December 31, 2024 2025 $ 608,624 2026 614,165 2027 583,548 2028 539,656 2029 486,608 Thereafter 1,919,666 $ 4,752,267

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense, Net of Forfeitures	For 2024, 2023, and 2022, stock-based compensation expense, net of forfeitures, was recorded as follows ($ in thousands): 2024 2023 2022 Equity-classified awards: Restricted stock $ 4,130 $ 3,645 $ 3,151 Market-based RSUs 6,885 5,042 4,073 Performance-based RSUs 2,077 1,463 1,173 Director grants 1,587 1,601 1,471 Employee Stock Purchase Plan 109 150 191 14,788 11,901 10,059 Liability-classified awards Service-based RSUs — 61 (146) Dividend equivalent units — — 69 — 61 (77) Total stock-based compensation expense $ 14,788 $ 11,962 $ 9,982
Schedule of Equity and Liability Classified Award Activity	The following table summarizes equity-classified employee stock compensation award activity for the years ended December 31, 2024, 2023, and 2022 (shares in thousands): 2024 2023 2022 Restricted Stock and RSUs Weighted Average Fair Market Value at Grant Restricted Stock and RSUs Weighted Average Fair Market Value at Grant Restricted Stock and RSUs Weighted Average Fair Market Value at Grant Restricted stock and RSUs unvested at beginning of the year 629 $34.16 463 $39.91 409 $38.63 Granted 498 $28.73 399 $29.31 242 $43.30 Vested (252) $39.47 (225) $37.28 (169) $41.54 Forfeited (13) $31.41 (8) $37.60 (19) $41.05 Restricted stock and RSUs unvested at end of year (1) 862 $29.51 629 $34.16 463 $39.91 (1) The targeted number of non-vested stock-settled RSUs and Restricted Stock at December 31, 2024 is 522,858 and 339,479, respectively.
Schedule of Valuation Assumptions	The Monte Carlo valuation used to determine the grant date fair value of the stock-settled Market-based RSUs included the following assumptions for those RSUs granted in 2024, 2023, and 2022: 2024 2023 2022 Volatility (1) 30.5 % 40.5 % 37.7 % Risk-free rate (2) 4.43 % 4.35 % 1.39 % Stock beta (3) 0.96 % 1.03 % 1.02 % (1) Based on historical volatility over three years using daily stock price. (2) Reflects the yield on three-year Treasury bonds. (3) Betas are calculated with up to three years of daily stock price data.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Difference between Income Tax Benefit (provision) and the Amount Computed by Applying the Statutory Federal Income Tax Rate to Income Before Taxes	The net income tax benefit differs from the amount computed by applying the statutory federal income tax rate to CTRS' income before taxes as follows ($ in thousands): 2024 2023 2022 Amount Rate Amount Rate Amount Rate Federal income tax benefit (expense) $ 58 21 % $ (149) 21 % $ 85 21 % State income tax benefit (expense) 11 4 % (28) 4 % 16 4 % Tax impact of capital loss carryforward — — % (28) — % (29) — % Tax impact of interest and other book to tax timing differences (147) (54) % — — % — — % Valuation allowance 4 2 % 1 — % (60) (15) % Other 74 27 % 30 — % (12) (10) % Tax expense before utilization of net operating loss carryforward $ — — % $ (174) 25 % $ — — % Utilization of net operating loss carryforward — — % 174 (25) % — — % Benefit applicable to income (loss) from continuing operations $ — — % $ — — % $ — — %
Schedule of Tax Effect of Significant Temporary Differences Representing Deferred Tax Assets and Liabilities	The tax effect of significant temporary differences representing deferred tax assets and liabilities of CTRS as of December 31, 2024 and 2023 are as follows ($ in thousands): 2024 2023 Income from unconsolidated joint ventures $ 27 $ 31 Federal and state tax net operating loss carryforwards 1,388 1,462 Interest and other book tax differences 147 — Federal and state tax capital loss carryforwards 152 152 Gross deferred tax asset 1,714 1,645 Valuation allowance (1,714) (1,645) Net deferred tax asset after valuation allowance $ — $ —

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of the basic and diluted earnings per share of the Company's consolidated statements of operations for the years ended December 31, 2024, 2023 and 2022 ($ in thousands, except per share amounts): Year Ended December 31 2024 2023 2022 Earnings per common share - basic: Numerator: Net income $ 46,581 $ 83,816 $ 167,445 Net income attributable to noncontrolling interests in CPLP from continuing operations (8) (14) (143) Net income attributable to other noncontrolling interests (611) (839) (509) Net income available for common stockholders $ 45,962 $ 82,963 $ 166,793 Denominator: Weighted average common shares - basic 153,413 151,714 150,113 Net income per common share - basic $ 0.30 $ 0.55 $ 1.11 Earnings per common share - diluted: Numerator: Net income $ 46,581 $ 83,816 $ 167,445 Net income attributable to other noncontrolling interests (611) (839) (509) Net income available for common stockholders before allocation of net income attributable to noncontrolling interests in CPLP $ 45,970 $ 82,977 $ 166,936 Denominator: Weighted average common shares - basic 153,413 151,714 150,113 Add: Potential dilutive common shares - ESPP 2 — — Potential dilutive restrictive stock units - restricted stock units, less shares assumed purchased at market price 575 301 281 Weighted average units of CPLP convertible into common shares 25 25 25 Weighted average common shares - diluted 154,015 152,040 150,419 Net income per common share - diluted $ 0.30 $ 0.55 $ 1.11

CONSOLIDATED STATEMENTS OF CA_3

CONSOLIDATED STATEMENTS OF CASH FLOWS - SUPPLEMENTAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Information Related to Cash Flows	Supplemental information related to cash flows, including significant non-cash activity affecting the consolidated statements of cash flows, for the years ended December 31, 2024, 2023, and 2022 is as follows ($ in thousands): 2024 2023 2022 Interest paid, net of amounts capitalized $ 107,676 $ 100,553 $ 70,087 Income taxes paid (1) — — 38 Non-Cash Transactions: Retirement of treasury stock 145,696 — — Common stock dividends declared and accrued 55,091 49,384 48,525 Tenant improvements recorded in deferred income 115,838 60,568 80,369 Accrued capital expenditures included in accounts payable and accrued expenses 125,791 124,337 108,497 (1) This represents state income taxes paid in conjunction with gains from sales transaction. See notes 3 and 6.

REPORTABLE SEGMENTS (Tables)

REPORTABLE SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The below presentation has been recast for all years presented to comply with updates to ASC 280 required by Accounting Standards Update 2023-07 "ASU 2023-07," "Segment Reporting" issued by the Financial Accounting Standards Board in November 2023. Information on the Company's segments along with a reconciliation of NOI to net income for years ended December 31, 2024, 2023, and 2022 are as follows ($ in thousands): Year Ended December 31, 2024 Rental Property Revenues Rental Property Operating Expenses NOI Atlanta $ 309,807 $ 109,534 $ 200,273 Austin 287,659 95,901 191,758 Tampa 77,238 27,855 49,383 Phoenix 60,397 15,801 44,596 Charlotte 59,008 16,844 42,164 Dallas 17,683 3,746 13,937 Other 35,144 12,108 23,036 Segment Totals $ 846,936 $ 281,789 $ 565,147 Other Non - Office Properties $ 9,501 $ 4,324 $ 5,177 Portfolio Totals $ 856,437 $ 286,113 $ 570,324 Less: Company's share from unconsolidated joint ventures $ (12,069) $ (5,452) Termination Fees 3,405 — Consolidated Totals $ 847,773 $ 280,661 Year Ended December 31, 2023 Rental Property Revenues Rental Property Operating Expenses NOI Atlanta $ 295,255 $ 101,950 $ 193,305 Austin 259,683 89,580 170,103 Tampa 74,813 27,880 46,933 Phoenix 60,540 16,363 44,177 Charlotte 58,348 15,224 43,124 Dallas 16,924 3,850 13,074 Other 26,081 11,412 14,669 Segment Totals $ 791,644 $ 266,259 $ 525,385 Other Non - Office Properties $ 9,021 $ 3,312 $ 5,709 Portfolio Totals $ 800,665 $ 269,571 $ 531,094 Less: Company's share from unconsolidated joint ventures $ (8,961) $ (3,137) Termination Fees 7,343 — Consolidated Totals $ 799,047 $ 266,434 Year Ended December 31, 2022 Rental Property Revenues Rental Property Operating Expenses NOI Atlanta $ 277,287 $ 92,678 $ 184,609 Austin 249,790 96,984 152,806 Tampa 70,991 25,803 45,188 Phoenix 56,413 14,869 41,544 Charlotte 55,330 14,096 41,234 Dallas 16,736 3,846 12,890 Other 28,682 11,806 16,876 Segment Totals $ 755,229 $ 260,082 $ 495,147 Other Non - Office Properties $ 10,754 $ 3,701 $ 7,053 Portfolio Totals $ 765,983 $ 263,783 $ 502,200 Less: Company's share from unconsolidated joint ventures $ (14,936) $ (5,412) Termination Fees 2,464 — Consolidated Totals $ 753,511 $ 258,371
Schedule of Reconciliation of NOI To Net Income Available to Common Stockholders	The following reconciles Net Income to Net Operating Income for each of the periods presented ($ in thousands): Year Ended December 31, 2024 2023 2022 Net income $ 46,581 $ 83,816 $ 167,445 Fee income (1,761) (1,373) (6,119) Termination fee income (3,405) (7,343) (2,464) Other income (7,224) (2,454) (2,660) General and administrative expenses 36,566 32,331 28,319 Interest expense 122,476 105,463 72,537 Depreciation and amortization 365,045 314,897 295,587 Reimbursed expenses 634 608 2,024 Other expenses 2,097 2,128 2,134 Loss (income) from unconsolidated joint ventures 2,796 (2,299) (7,700) Net operating income from unconsolidated joint ventures 6,617 5,824 9,524 Gain on sales of investments in unconsolidated joint ventures — — (56,267) Loss (gain) on investment property transactions (98) (504) 9 Gain on extinguishment of debt — — (169) Net Operating Income $ 570,324 $ 531,094 $ 502,200

DESCRIPTION OF BUSINESS AND B_2

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION - Description of Business (Details) ft² in Thousands	12 Months Ended
	Dec. 31, 2024 ft²
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Distribution of taxable income to qualify as REIT, percentage	100%
Company's portfolio of real estate assets - Office space (square feet)	20,600
Company's portfolio of real estate assets - Retail space (square feet)	467
Cousins Properties LP
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of partnership units owned by the Company	99%

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES - Cost Capitalization (Details)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Period in which the company capitalizes interest, real estate taxes and certain operating expenses on the unoccupied portion of recently completed properties, beginning with the date it is substantially complete (percent)	90%
Period in which the company capitalizes interest, real estate taxes and certain operating expenses on the unoccupied portion of recently completed properties, beginning with the date it is substantially complete (in years)	1 year

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Depreciation and Amortization (Details)	Dec. 31, 2024
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Useful life	30 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Useful life	40 years
Furniture, Fixtures and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Furniture, Fixtures and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	5 years

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Noncontrolling Interest (Details)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Conversion ratio	1

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue from External Customer [Line Items]
Deferred income	$ 277,132	$ 181,744
Revenues	856,758	802,874	$ 762,290
Tenant Funded Improvements
Revenue from External Customer [Line Items]
Deferred income	228,400	141,000
Revenues	28,400	20,000	11,200
Tenants Expenses
Revenue from External Customer [Line Items]
Revenues	$ 176,700	$ 163,200	$ 160,700

REAL ESTATE - Summarizes Of Acq

REAL ESTATE - Summarizes Of Acquisition Transactions (Details) ft² in Thousands, $ in Thousands	1 Months Ended
	Dec. 31, 2024 USD ($) ft²
Asset Acquisition [Line Items]
Weighted average remaining lease term	11 years
Sail Tower
Asset Acquisition [Line Items]
Closing Purchase Price	$ 521,775
Area of property acquired | ft²	804
Operating properties	$ 578,576
Intangible and other assets	48,525
Intangible and other liabilities	(115,877)
Total net assets acquired	511,224
Acquisition costs	691
Net operating liabilities	11,300
Sail Tower | Below-Market Leases
Asset Acquisition [Line Items]
Intangible and other liabilities	(72,369)
Sail Tower | Tenant allowance payable
Asset Acquisition [Line Items]
Intangible and other liabilities	(32,238)
Sail Tower | Accounts payable and other liabilities
Asset Acquisition [Line Items]
Intangible and other liabilities	(11,270)
Sail Tower | In-Place Leases
Asset Acquisition [Line Items]
Intangible and other assets	48,497
Sail Tower | Above market leases (1)
Asset Acquisition [Line Items]
Intangible and other assets	0
Sail Tower | Prepaid expenses
Asset Acquisition [Line Items]
Intangible and other assets	28
Vantage South End
Asset Acquisition [Line Items]
Closing Purchase Price	$ 328,500
Area of property acquired | ft²	639
Operating properties	$ 299,305
Intangible and other assets	34,861
Intangible and other liabilities	(6,829)
Total net assets acquired	327,337
Acquisition costs	463
Net operating liabilities	1,700
Vantage South End | Below-Market Leases
Asset Acquisition [Line Items]
Intangible and other liabilities	(5,124)
Vantage South End | Tenant allowance payable
Asset Acquisition [Line Items]
Intangible and other liabilities	0
Vantage South End | Accounts payable and other liabilities
Asset Acquisition [Line Items]
Intangible and other liabilities	(1,705)
Vantage South End | In-Place Leases
Asset Acquisition [Line Items]
Intangible and other assets	29,885
Vantage South End | Above market leases (1)
Asset Acquisition [Line Items]
Intangible and other assets	4,898
Vantage South End | Prepaid expenses
Asset Acquisition [Line Items]
Intangible and other assets	$ 78

REAL ESTATE - Narrative (Detail

REAL ESTATE - Narrative (Details) ft² in Thousands, $ in Thousands	1 Months Ended
	Dec. 31, 2024 USD ($) ft²	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) a
Sail Tower
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible and other liabilities	$ 115,877
Area of real estate property | ft²	804
Tenant allowance payable | Sail Tower
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible and other liabilities	$ 32,238
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Atlanta Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of real estate property | a			10.4
Gross sales price			$ 4,250
Gain on sale of property		$ 507

GROUND LEASES - Narrative (Deta

GROUND LEASES - Narrative (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 29, 2024 USD ($)	Dec. 31, 2024 USD ($) property	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($)
Leases [Abstract]
Number of properties subject to operating lease | property		4	4
Operating lease, weighted average remaining term		76 years	77 years
Operating ground leases, right-of-use asset		$ 45,200	$ 45,500
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]		Rental Properties, Land Held	Rental Properties, Land Held
Operating ground leases, liability		$ 50,003	$ 49,800
Finance Lease, Liability, Statement of Financial Position [Extensible List]		Other liabilities	Other liabilities
Operating Lease, Liability, Statement of Financial Position [Extensible List]		Other liabilities	Other liabilities
Operating lease, weighted average discount rate		4.30%	4.30%
Finance lease, weighted average discount rate		4.30%	4.30%
Finance ground lease paid	$ 3,800
Number of properties subject to finance lease | property			1
Finance lease, weighted average remaining term			2 years
Finance ground leases, right-of-use asset			$ 3,700
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]			Land Held
Finance ground leases, liability			$ 3,600
Operating lease expense		$ 2,800	2,900	$ 2,900
Variable lease expense		128	155
Interest expense related to finance lease		27	162	162
Operating lease payments		2,100	2,100	2,100
Finance lease payments		$ 39	$ 162	$ 162

GROUND LEASES - Future Minimum

GROUND LEASES - Future Minimum Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating Ground Leases
2025	$ 1,958
2026	2,006
2027	2,010
2028	2,022
2029	2,022
Thereafter	169,268
Total minimum payments	179,286
Discount	(129,283)
Lease liability	$ 50,003	$ 49,800

INVESTMENTS IN REAL ESTATE DE_3

INVESTMENTS IN REAL ESTATE DEBT (Details) $ in Thousands		3 Months Ended	12 Months Ended
	Jan. 07, 2025 USD ($)	Jun. 30, 2024 USD ($) Loan	Dec. 31, 2024 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Schedule of Investments [Line Items]
Investments in real estate debt, at fair value		$ 27,200	$ 167,219	$ 0
Commitments related to investments in real estate debt			7,800
Repayment of mortgage loan			$ 79,085	$ 8,273	$ 168,401
Performing Mortgage Loan
Schedule of Investments [Line Items]
Weighted spread			3.66%
Debt amount			$ 138,000
Area of land | ft²			320,000
Performing Mortgage Loan | Subsequent Event
Schedule of Investments [Line Items]
Repayment of mortgage loan	$ 138,000
Debt instrument, additional default interest rate	0.05
Mezzanine Loan
Schedule of Investments [Line Items]
Number of loans | Loan		2
Weighted spread		8.68%
Mezzanine Loan | Mortgage Debt
Schedule of Investments [Line Items]
Additional borrowing capacity			$ 2,000

INVESTMENTS IN REAL ESTATE DE_4

INVESTMENTS IN REAL ESTATE DEBT - Schedule of Investments In Real Estate Debt (Details) $ in Thousands	Jan. 07, 2025	Dec. 31, 2024 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Schedule of Investments [Line Items]
Investments in real estate debt, at fair value		$ 167,219	$ 27,200	$ 0
First Priority Mortgage Loan
Schedule of Investments [Line Items]
Debt amount		152,700
Performing Mortgage Loan
Schedule of Investments [Line Items]
Debt amount		$ 138,000
Mezzanine Loan
Schedule of Investments [Line Items]
Variable rate		4.40%
Subsequent Event | Performing Mortgage Loan
Schedule of Investments [Line Items]
Debt instrument, additional default interest rate	0.05
110 East - Pledge of equity interests Charlotte, NC, Office Building
Schedule of Investments [Line Items]
Investments in real estate debt, at fair value		$ 16,559
Variable rate		13.40%
Radius - Pledge of equity interests Nashville, TN, Office Building
Schedule of Investments [Line Items]
Investments in real estate debt, at fair value		$ 12,660
Variable rate		12.65%
Saint - Ann Pledge of asset Dallas, TX, Office Building
Schedule of Investments [Line Items]
Investments in real estate debt, at fair value		$ 138,000
Variable rate		8.06%

INVESTMENT IN UNCONSOLIDATED _3

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES - Schedule of Financial Data and Principal Activities of Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity Method Investment Summarized Financial Information Financial Position [Abstract]
Total Assets	$ 8,802,146	$ 7,634,474
Total Liabilities	3,931,979	3,086,161
Total Equity (Deficit)	4,846,678	4,524,151
Income Statement [Abstract]
Total Revenues	856,758	802,874	$ 762,290
Net Income (Loss)	45,962	82,963	166,793
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Equity Method Investment Summarized Financial Information Financial Position [Abstract]
Total Assets	763,744	589,800
Total Liabilities	394,826	338,093
Total Equity (Deficit)	368,918	251,707
Company's Investment	153,852	112,765
Income Statement [Abstract]
Total Revenues	35,532	24,986	36,760
Net Income (Loss)	(3,538)	6,605	15,278
Company's Income (Loss) from Investment	(2,796)	2,299	7,700
AMCO 120 WT Holdings, LLC
Equity Method Investment Summarized Financial Information Financial Position [Abstract]
Total Assets	74,984	80,694
Total Liabilities	1,254	2,052
Total Equity (Deficit)	73,730	78,642
Company's Investment	13,503	14,506
Income Statement [Abstract]
Total Revenues	10,947	11,407	10,844
Net Income (Loss)	1,450	2,822	3,245
Company's Income (Loss) from Investment	271	562	632
Crawford Long - CPI, LLC
Equity Method Investment Summarized Financial Information Financial Position [Abstract]
Total Assets	19,306	22,001
Total Liabilities	83,571	84,563
Total Equity (Deficit)	(64,265)	(62,562)
Company's Investment	(31,626)	(31,066)
Income Statement [Abstract]
Total Revenues	13,371	13,097	13,298
Net Income (Loss)	3,047	3,692	4,530
Company's Income (Loss) from Investment	1,393	1,709	2,117
Neuhoff Holdings LLC
Equity Method Investment Summarized Financial Information Financial Position [Abstract]
Total Assets	573,495	477,780
Total Liabilities	306,055	251,477
Total Equity (Deficit)	267,440	226,303
Company's Investment	150,376	124,543
Income Statement [Abstract]
Total Revenues	3,431	214	140
Net Income (Loss)	(7,203)	(120)	94
Company's Income (Loss) from Investment	(4,224)	(77)	47
TL CO Proscenium JV, LLC
Equity Method Investment Summarized Financial Information Financial Position [Abstract]
Total Assets	86,517	0
Total Liabilities	3,889	0
Total Equity (Deficit)	82,628	0
Company's Investment	16,768	0
Income Statement [Abstract]
Total Revenues	7,606	0	0
Net Income (Loss)	(893)	0	0
Company's Income (Loss) from Investment	(267)	0	0
715 Ponce Holdings LLC
Equity Method Investment Summarized Financial Information Financial Position [Abstract]
Total Assets	9,442	9,325
Total Liabilities	57	1
Total Equity (Deficit)	9,385	9,324
Company's Investment	4,831	4,782
Income Statement [Abstract]
Total Revenues	177	268	287
Net Income (Loss)	61	177	183
Company's Income (Loss) from Investment	31	88	91
Carolina Square Holdings LP
Income Statement [Abstract]
Total Revenues	0	0	12,071
Net Income (Loss)	0	48	503
Company's Income (Loss) from Investment	0	24	164
HICO Victory Center LP
Income Statement [Abstract]
Total Revenues	0	0	92
Net Income (Loss)	0	(14)	6,735
Company's Income (Loss) from Investment	0	(7)	4,546
Other
Income Statement [Abstract]
Total Revenues	0	0	28
Net Income (Loss)	0	0	(12)
Company's Income (Loss) from Investment	$ 0	$ 0	$ 103

INVESTMENT IN UNCONSOLIDATED _4

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES - AMCO 120 WT Holdings, LLC (Details) - AMCO 120 WT Holdings, LLC ft² in Thousands, $ in Millions	Dec. 31, 2024 USD ($) ft² apartment	Dec. 31, 2023 USD ($)
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	20%
Area of real estate property | ft²	52
Number of apartment units | apartment	330
Cash balance of joint venture | $	$ 1	$ 1.5
AMLI Residential
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	80%

INVESTMENT IN UNCONSOLIDATED _5

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES - Crawford Long—CPI, LLC (Details) ft² in Thousands, $ in Millions	Dec. 31, 2024 USD ($) ft²	Dec. 31, 2023 USD ($)	May 31, 2023 USD ($)
Crawford Long - CPI, LLC
Schedule of Equity Method Investments [Line Items]
Aggregate outstanding indebtedness			$ 83
Interest rate on mortgage loan (percent)			4.80%
Crawford Long - CPI, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50%
Area of real estate property | ft²	358
Total liabilities related to loan	$ 82.4	$ 82.3
Cash balance of joint venture	$ 2	$ 2.9
Crawford Long - CPI, LLC | Emory University
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50%

INVESTMENT IN UNCONSOLIDATED _6

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES - Neuhoff Holdings LLC (Details) ft² in Thousands, $ in Thousands		1 Months Ended		12 Months Ended
	Jul. 27, 2021 USD ($)	Apr. 30, 2023	Sep. 30, 2021 USD ($) extension	Dec. 31, 2024 USD ($) ft² apartment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Mar. 31, 2024
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments				$ 47,496	$ 31,388	$ 47,894
Minimum | Neuhoff Holdings LLC
Schedule of Equity Method Investments [Line Items]
Interest rate		3.60%
SOFR | Neuhoff Holdings LLC
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate (percent)		3.45%
LIBOR | Minimum | Neuhoff Holdings LLC
Schedule of Equity Method Investments [Line Items]
Interest rate							3.45%
Neuoff JV
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage				50%
Mixed use property value				$ 589,100
Area of real estate property | ft²				450
Number of apartment units | apartment				542
Payments to acquire equity method investments	$ 35,100
Total liabilities related to loan				$ 275,100	219,800
Cash balance of joint venture				$ 9,900	$ 507
Neuoff JV | Construction Loans
Schedule of Equity Method Investments [Line Items]
Maximum borrowing capacity			$ 312,700
Number of extension options | extension			1
Extension term			12 months
Neuoff JV | Neuhoff Holdings LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture				50%

INVESTMENT IN UNCONSOLIDATED _7

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES - TL CO Proscenium, LLC ("Proscenium") (Details) ft² in Thousands, $ in Millions	1 Months Ended
	Aug. 31, 2024 USD ($) ft²	Dec. 31, 2024 USD ($)
Proscenium JV LLC
Schedule of Equity Method Investments [Line Items]
Gross purchase price	$ 16.7
TL CO Proscenium LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	20%
Cash balance of joint venture		$ 3.3
TL CO Proscenium LLC | Proscenium JV LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	80%
Area of real estate property | ft²	525
Gross purchase price	$ 83.3

INVESTMENT IN UNCONSOLIDATED _8

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES - 715 Ponce Holdings LLC (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments	$ 47,496	$ 31,388	$ 47,894
715 Ponce JV
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage	50%
Payments to acquire equity method investments	$ 4,000
Cash balance of joint venture	$ 38	$ 42
715 Ponce JV | 715 Ponce Holdings LLC
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture	50%

INVESTMENT IN UNCONSOLIDATED _9

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES - Carolina Square Holdings LP (Details) - Carolina Square Holdings LP - USD ($) $ in Thousands	1 Months Ended
	Sep. 30, 2022	Dec. 31, 2024
Schedule of Equity Method Investments [Line Items]
Ownership interest percentage		50%
Ownership percentage of partner in joint venture	50%
Combined gross sales price	$ 105,000
Gain on sales of investments in unconsolidated joint ventures	56,300
Tax effect of discontinued operation	$ 179
Northwood Ravin
Schedule of Equity Method Investments [Line Items]
Ownership percentage of partner in joint venture		50%

INVESTMENT IN UNCONSOLIDATED_10

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES - HICO Victory Center LP (Details) - HICO Victory Center LP - USD ($) $ in Millions	1 Months Ended
	Jun. 30, 2022	Dec. 31, 2024	Jun. 30, 2023
Schedule of Equity Method Investments [Line Items]
Land funding requirement (percent)		75%
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Schedule of Equity Method Investments [Line Items]
Sales price			$ 23.1
Gain (loss) from sale of property	$ 4.5
Hines
Schedule of Equity Method Investments [Line Items]
Land funding requirement (percent)		25%
HICO Victory Center LP | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Schedule of Equity Method Investments [Line Items]
Gain (loss) from sale of property	$ 6.8

INVESTMENT IN UNCONSOLIDATED_11

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Fees earned from unconsolidated joint ventures	$ 1.5	$ 1.2	$ 2.8

INTANGIBLE ASSETS AND LIABILI_3

INTANGIBLE ASSETS AND LIABILITIES - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 1,674	$ 1,674
Total intangible assets	171,989	110,667
In-Place Leases
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	135,945	135,433
Finite-lived intangible assets, net	139,704	80,117
Below-Market Ground Leases
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	2,572	2,260
Finite-lived intangible assets, net	16,681	16,992
Above market leases (1)
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	24,190	24,918
Finite-lived intangible assets, net	$ 13,930	$ 11,884

INTANGIBLE ASSETS AND LIABILI_4

INTANGIBLE ASSETS AND LIABILITIES - Intangible Liabilities (Details) - Below-Market Leases - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ 56,982	$ 50,475
Finite-lived intangible liabilities, net	$ 111,221	$ 42,193

INTANGIBLE ASSETS AND LIABILI_5

INTANGIBLE ASSETS AND LIABILITIES - Aggregate Amortization of Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Below-Market Leases, Above-Market Leases
Finite-Lived Intangible Assets [Line Items]
Amortization of above and below Market Leases	$ 6,142	$ 6,876	$ 6,446
In-Place Leases
Finite-Lived Intangible Assets [Line Items]
Depreciation and amortization (In-place leases)	18,793	21,964	27,458
Below-Market Ground Leases
Finite-Lived Intangible Assets [Line Items]
Amortization of above and below Market Leases	$ 318	$ 400	$ 411

INTANGIBLE ASSETS AND LIABILI_6

INTANGIBLE ASSETS AND LIABILITIES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Net amortization expense of intangible assets and liabilities	$ 13	$ 15.5	$ 21.4

INTANGIBLE ASSETS AND LIABILI_7

INTANGIBLE ASSETS AND LIABILITIES - Intangibles - future Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Future Amortization of Intangible Liabilities:
2025	$ 10,953
2026	9,431
2027	7,959
2028	6,177
2029	4,850
Thereafter	19,724
Finite-lived intangibles, net	59,094
Below-Market Leases
Future Amortization of Intangible Liabilities:
2025	(13,709)
2026	(12,490)
2027	(10,955)
2028	(9,808)
2029	(9,404)
Thereafter	(54,855)
Finite-lived intangible liabilities, net	$ (111,221)	$ (42,193)
Weighted average remaining lease term	11 years
In-Place Leases
Future Amortization of Intangible Assets:
2025	$ 21,701
2026	19,348
2027	16,762
2028	13,942
2029	12,548
Thereafter	55,403
Finite-lived intangible assets, net	$ 139,704	80,117
Weighted average remaining lease term	9 years
Below-Market Ground Leases
Future Amortization of Intangible Assets:
2025	$ 282
2026	282
2027	282
2028	282
2029	210
Thereafter	15,343
Finite-lived intangible assets, net	$ 16,681	16,992
Weighted average remaining lease term	62 years
Above-Market Leases
Future Amortization of Intangible Assets:
2025	$ 2,679
2026	2,291
2027	1,870
2028	1,761
2029	1,496
Thereafter	3,833
Finite-lived intangible assets, net	$ 13,930	$ 11,884
Weighted average remaining lease term	7 years

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Predevelopment costs	$ 58,224	$ 56,600
Accumulated amortization of lease inducements	8,181	5,860
Lease inducements, net of accumulated amortization of $8,181 and $5,860 in 2024 and 2023, respectively	11,024	10,537
Accumulated depreciation of furniture, fixtures and equipment, leasehold improvements, and other deferred costs	20,004	18,564
Furniture, fixtures, and equipment and other deferred costs, net of accumulated depreciation of $20,004 and $18,564 in 2024 and 2023, respectively	9,491	10,631
Prepaid expenses and other assets	4,492	8,704
Accumulated amortization of line of credit deferred financing costs	3,416	2,131
Credit Facility deferred financing costs, net of accumulated amortization of $3,416 and $2,131 in 2024 and 2023, respectively	2,988	4,273
Total other assets	$ 86,219	$ 90,745

NOTES PAYABLE - Terms of notes

NOTES PAYABLE - Terms of notes payable (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2024	Nov. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Notes payable, gross	$ 3,110,214	$ 3,110,214		$ 2,462,068
Unamortized original issue discount	(3,560)	(3,560)		0
Unamortized loan costs	(10,988)	(10,988)		(4,441)
Total Notes Payable	3,095,666	$ 3,095,666		2,457,627
Weighted average maturity period		4 years 2 months 12 days
Unsecured Notes
Debt Instrument [Line Items]
Notes payable, gross	$ 2,662,332	$ 2,662,332		1,935,100
Credit Facility
Debt Instrument [Line Items]
Interest rate	5.185%	5.185%
Notes payable, gross	$ 112,332	$ 112,332		185,100
Senior Unsecured Debt | Unsecured Senior Notes With Interest Rate Of 5.875%
Debt Instrument [Line Items]
Interest rate	5.875%	5.875%
Notes payable, gross	$ 500,000	$ 500,000		0
Senior Unsecured Debt | Unsecured Senior Notes With Interest Rate Of 5.375%
Debt Instrument [Line Items]
Interest rate	5.375%	5.375%
Notes payable, gross	$ 400,000	$ 400,000		0
Unamortized loan costs	$ (3,600)	$ (3,600)
Senior Unsecured Debt | Senior Note, Unsecured Due 2029
Debt Instrument [Line Items]
Interest rate	3.95%	3.95%
Notes payable, gross	$ 275,000	$ 275,000		275,000
Senior Unsecured Debt | Senior Note, Unsecured Due 2025
Debt Instrument [Line Items]
Interest rate	3.91%	3.91%
Notes payable, gross	$ 250,000	$ 250,000		250,000
Senior Unsecured Debt | Senior Note, Unsecured Due 2028
Debt Instrument [Line Items]
Interest rate	3.86%	3.86%
Notes payable, gross	$ 250,000	$ 250,000		250,000
Senior Unsecured Debt | Senior Note, Unsecured Due 2027
Debt Instrument [Line Items]
Interest rate	3.78%	3.78%
Notes payable, gross	$ 125,000	$ 125,000		125,000
Senior Unsecured Debt | Senior Note, Unsecured Due 2027
Debt Instrument [Line Items]
Interest rate	4.09%	4.09%
Notes payable, gross	$ 100,000	$ 100,000		100,000
Term Loan, Unsecured Due In September 2025 | Unsecured Term Loan With Interest Rate Of 5.433%
Debt Instrument [Line Items]
Interest rate	5.433%	5.433%
Notes payable, gross	$ 400,000	$ 400,000		400,000
Term Loan, Unsecured Due In 2026 | Term Loan Unsecured Due 2024
Debt Instrument [Line Items]
Interest rate	5.41%	5.41%
Notes payable, gross	$ 250,000	$ 250,000		350,000
Mortgage Debt
Debt Instrument [Line Items]
Notes payable, gross	447,882	447,882		526,968
Total Notes Payable	$ 447,900	$ 447,900
Mortgage Debt | Terminus
Debt Instrument [Line Items]
Interest rate	6.34%	6.34%
Notes payable, gross	$ 221,000	$ 221,000		221,000
Mortgage Debt | Fifth Third Center
Debt Instrument [Line Items]
Interest rate	3.37%	3.37%
Notes payable, gross	$ 122,802	$ 122,802		126,548
Mortgage Debt | Colorado Tower
Debt Instrument [Line Items]
Interest rate	3.45%	3.45%
Notes payable, gross	$ 104,080	$ 104,080		106,862
Mortgage Debt | Domain 10
Debt Instrument [Line Items]
Interest rate	3.75%	3.75%	3.75%
Notes payable, gross	$ 0	$ 0	$ 70,900	$ 72,558
Mortgage Debt | Terminus 100
Debt Instrument [Line Items]
Notes payable, gross	123,000	123,000
Mortgage Debt | Terminus 200
Debt Instrument [Line Items]
Notes payable, gross	$ 98,000	$ 98,000
Unsecured Debt | Unsecured Term Loan With Interest Rate Of 5.433%
Debt Instrument [Line Items]
Extension term	6 months

NOTES PAYABLE - Credit Facility

NOTES PAYABLE - Credit Facility (Details) - Credit Facility $ in Millions			12 Months Ended
	Apr. 16, 2024	May 02, 2022 USD ($)	Dec. 31, 2024 USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 1,000
Minimum fixed charge coverage ratio		1.50
Variable rate		1%
Facility fee percentage			0.15%
Available borrowing capacity			$ 887.7
Adjusted SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)		0.10%	0.775%
Federal Funds Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)		0.50%
Term SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)		1%
Minimum
Line of Credit Facility [Line Items]
Minimum unencumbered interest coverage ratio		1.75
Facility fee percentage	0.15%	0.125%
Minimum | SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	0.90%	0.725%
Minimum | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)		0%
Maximum
Line of Credit Facility [Line Items]
Secured leverage ratio (percent)		50%
Leverage ratio		60%
Facility fee percentage	0.30%	0.30%
Maximum | SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)	1.40%	1.40%
Maximum | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (percent)		0.40%

NOTES PAYABLE - Term Loan (Deta

NOTES PAYABLE - Term Loan (Details) $ in Thousands

1 Months Ended

12 Months Ended

Oct. 03, 2022 USD ($) extension

Sep. 27, 2022 USD ($)

Sep. 19, 2022

Jun. 28, 2021 USD ($) extension

Aug. 31, 2024 USD ($)

Apr. 30, 2024

Dec. 31, 2024 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Aug. 30, 2024 USD ($)

Jan. 26, 2024 USD ($)

Apr. 19, 2023 USD ($)

Debt Instrument [Line Items]

Contributions from noncontrolling interests

$ 100,000

$ 0

$ 0

2022 Term Loan | Unsecured Debt

Debt Instrument [Line Items]

Debt amount

$ 400,000

$ 400,000

$ 400,000

$ 400,000

Number of extension options | extension

4

Extension term

6 months

Basis spread on variable rate (percent)

1%

0.85%

Debt, weighted average interest rate

4.483%

2022 Term Loan | Unsecured Debt | Adjusted SOFR

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0.10%

2022 Term Loan | Unsecured Debt | Eurodollar | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0.80%

2022 Term Loan | Unsecured Debt | Eurodollar | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

1.60%

2022 Term Loan | Unsecured Debt | Federal Funds Rate

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0.50%

2022 Term Loan | Unsecured Debt | Term SOFR

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

1%

2022 Term Loan | Unsecured Debt | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0%

1.05%

2022 Term Loan | Unsecured Debt | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0.65%

1.65%

2022 Term Loan | Unsecured Debt | Interest Rate Swap

Debt Instrument [Line Items]

Debt amount

$ 200,000

$ 200,000

Fixed swap rate

4.6675%

4.298%

2022 Term Loan | Unsecured Debt | Interest Rate Swap | SOFR

Debt Instrument [Line Items]

Fixed swap rate

4.6675%

4.298%

2021 Term Loan | Unsecured Debt

Debt Instrument [Line Items]

Debt amount

$ 350,000

$ 350,000

Number of extension options | extension

4

Extension term

180 days

Basis spread on variable rate (percent)

1%

Contributions from noncontrolling interests

$ 100,000

Remaining Amount To Be Paid With Long Term Debt

$ 250,000

Variable rate

1%

2021 Term Loan | Unsecured Debt | Adjusted SOFR

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0.10%

2021 Term Loan | Unsecured Debt | Eurodollar | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0.85%

2021 Term Loan | Unsecured Debt | Eurodollar | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

1.65%

2021 Term Loan | Unsecured Debt | Federal Funds Rate

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0.50%

2021 Term Loan | Unsecured Debt | Term SOFR

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

1%

2021 Term Loan | Unsecured Debt | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0%

1.05%

2021 Term Loan | Unsecured Debt | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate (percent)

0.65%

1.65%

2021 Term Loan | Unsecured Debt | Interest Rate Swap

Debt Instrument [Line Items]

Debt amount

$ 350,000

Basis spread on variable rate (percent)

4.234%

NOTES PAYABLE - Unsecured Senio

NOTES PAYABLE - Unsecured Senior Notes (Details) $ in Thousands	1 Months Ended		12 Months Ended
	Dec. 31, 2024 USD ($) tranche	Aug. 31, 2024 USD ($)	Dec. 31, 2024 USD ($) tranche	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Bond issuance, net of original issue discount			$ 896,392	$ 0	$ 0
Debt issuance costs	$ 10,988		10,988	4,441
Outstanding amount	3,095,666		3,095,666	$ 2,457,627
Senior Unsecured Debt
Debt Instrument [Line Items]
Debt amount	$ 1,000,000		$ 1,000,000
Number of tranches | tranche	5		5
Senior Unsecured Debt | Unsecured Senior Notes With Interest Rate Of 5.375%
Debt Instrument [Line Items]
Debt amount	$ 400,000		$ 400,000
Interest rate	5.375%		5.375%
Bond issuance, net of original issue discount	$ 397,900
Discount issued	$ 2,100		$ 2,100
Effective interest rate	5.464%		5.464%
Debt issuance costs	$ 3,600		$ 3,600
Senior Unsecured Debt | Senior Notes With Interest Rate Of 5.875%
Debt Instrument [Line Items]
Debt amount		$ 500,000
Interest rate		5.875%
Bond issuance, net of original issue discount		$ 498,500
Discount issued		$ 1,500
Senior Unsecured Debt | Senior Notes With Interest Rate Of 5.912%
Debt Instrument [Line Items]
Effective interest rate		5.912%
Debt issuance costs		$ 5,300
Repayments of debt		373,800
Senior Unsecured Debt | 2021 Term Loan
Debt Instrument [Line Items]
Repayments of debt		100,000
Outstanding amount		$ 350,000
Senior Unsecured Debt | Public Senior Note
Debt Instrument [Line Items]
Unencumbered debt instrument ratio		150%
Debt service ratio		1.50
Senior Unsecured Debt | Public Senior Note | Maximum
Debt Instrument [Line Items]
Secured leverage ratio (percent)		40%
Leverage ratio		60%
Senior Unsecured Debt | 4.09% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 100,000		$ 100,000
Interest rate	4.09%		4.09%
Senior Unsecured Debt | 3.91% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 250,000		$ 250,000
Interest rate	3.91%		3.91%
Senior Unsecured Debt | 3.78% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 125,000		$ 125,000
Interest rate	3.78%		3.78%
Senior Unsecured Debt | Nine Year Unsecured Senior Notes With Interest Rate Of 3.86%
Debt Instrument [Line Items]
Debt amount	$ 250,000		$ 250,000
Interest rate	3.86%		3.86%
Senior Unsecured Debt | 3.95% Senior Notes, Unsecured
Debt Instrument [Line Items]
Debt amount	$ 275,000		$ 275,000
Interest rate	3.95%		3.95%

NOTES PAYABLE - Secured Mortgag

NOTES PAYABLE - Secured Mortgage Notes (Details) $ in Thousands	Dec. 31, 2024 USD ($) debt_instrument	Nov. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) property	Nov. 30, 2022 USD ($)	Oct. 31, 2022 USD ($)
Debt Instrument [Line Items]
Notes payable, gross	$ 3,110,214		$ 2,462,068
Outstanding amount	3,095,666		2,457,627
Mortgage Debt
Debt Instrument [Line Items]
Notes payable, gross	447,882		526,968
Outstanding amount	$ 447,900
Number of non-recourse mortgage loans | debt_instrument	4
Collateral amount	$ 702,700
Domain 10 | Mortgage Debt
Debt Instrument [Line Items]
Notes payable, gross	$ 0	$ 70,900	$ 72,558
Interest rate	3.75%	3.75%
Terminus Properties In Atlanta | Mortgage Debt
Debt Instrument [Line Items]
Notes payable, gross				$ 221,000	$ 178,900
Interest rate				6.34%
Number of real estate properties | property				2
Debt, weighted average interest rate	4.85%			4.67%
Legacy Union One | Mortgage Debt
Debt Instrument [Line Items]
Notes payable, gross						$ 66,000
Interest rate						4.24%
Promenade Tower | Mortgage Debt
Debt Instrument [Line Items]
Notes payable, gross						$ 86,300
Interest rate						4.27%

NOTES PAYABLE - Other Debt Info

NOTES PAYABLE - Other Debt Information (Details) - USD ($) $ in Billions	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Notes payable, fair value	$ 3.1	$ 2.4

NOTES PAYABLE - Interest expens

NOTES PAYABLE - Interest expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Total interest incurred	$ 135,025	$ 123,830	$ 87,937
Interest capitalized	(12,549)	(18,367)	(15,400)
Total interest expense	$ 122,476	$ 105,463	$ 72,537

NOTES PAYABLE - Debt maturities

NOTES PAYABLE - Debt maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
2025	$ 906,755
2026	220,127
2027	337,332
2028	250,000
2029	275,000
Thereafter	1,121,000
Total Notes Payable	$ 3,110,214	$ 2,462,068

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Thousands			12 Months Ended
	Oct. 03, 2022	Sep. 27, 2022	Dec. 31, 2024	Aug. 31, 2024	Jan. 26, 2024	Dec. 31, 2023	Apr. 19, 2023	Jun. 28, 2021
Derivative [Line Items]
Reclassification of interest expense			$ 105
2022 Term Loan | Unsecured Debt
Derivative [Line Items]
Debt amount	$ 400,000		$ 400,000		$ 400,000		$ 400,000
Debt, weighted average interest rate			4.483%
Basis spread on variable rate (percent)	1%		0.85%
2022 Term Loan | Interest Rate Swap | Unsecured Debt
Derivative [Line Items]
Debt amount					$ 200,000		$ 200,000
Fixed swap rate					4.6675%		4.298%
2022 Term Loan | 2024 Swap
Derivative [Line Items]
Derivative asset			$ 10
Fair value of derivative			$ 115
2022 Term Loan | 2023 Swap
Derivative [Line Items]
Derivative asset						$ 555
2021 Term Loan | Unsecured Debt
Derivative [Line Items]
Debt amount				$ 350,000				$ 350,000
Basis spread on variable rate (percent)			1%
2021 Term Loan | Interest Rate Swap
Derivative [Line Items]
Derivative asset						$ 1,700
2021 Term Loan | Interest Rate Swap | Unsecured Debt
Derivative [Line Items]
Debt amount		$ 350,000
Basis spread on variable rate (percent)		4.234%

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Amount of income recognized in accumulated other comprehensive income on interest rate derivatives	$ 2,935	$ 4,357	$ 1,063
Amount of loss (income) reclassified from accumulated other comprehensive income into income as an increase (reduction) of interest expense	(5,232)	(3,932)	704
Total amount of interest expense presented in the consolidated statements of operations	$ 122,476	$ 105,463	$ 72,537

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Ground lease liability	$ 50,003	$ 53,348
Prepaid rent	41,949	34,872
Security deposits	17,043	15,050
Other liabilities	1,717	1,560
Total other liabilities	$ 110,712	$ 104,830

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Dec. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Future obligations under leases	$ 111.8
Commitments related to investments in real estate debt	$ 7.8

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details) $ / shares in Units, $ in Thousands		1 Months Ended		3 Months Ended	12 Months Ended			30 Months Ended
	Feb. 06, 2024 $ / shares shares	Dec. 31, 2024 USD ($) $ / shares shares	Nov. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) financial_institution	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2024 USD ($) $ / shares shares
Class of Stock [Line Items]
Common stock, par value (in usd per share) | $ / shares		$ 1	$ 1		$ 1	$ 1		$ 1
Issuance of common stock					$ 468,004	$ 0	$ 103,120
Sale of stock, number of participating financial institutions | financial_institution				6
Dividends owed		$ 55,091			$ 55,091	$ 49,384	$ 48,525	$ 55,091
Treasury Stock, Shares, Retired | shares	2,536,583
Shares Acquired, Average Cost Per Share | $ / shares	$ 57.44
Percentage of restriction on ownership (more than)					3.90%
Employee Stock Purchase Plan | 2021 Stock Repurchase Program
Class of Stock [Line Items]
Number of shares purchased (in shares) | shares					20,292	25,441	22,909
Amount of shares held						$ 1,500	$ 1,300
Underwriting Agreement, December 2024
Class of Stock [Line Items]
Sale of stock, shares issued (in shares) | shares		9,500,000
Average price (in dollars per share) | $ / shares		$ 29.765			$ 29.765			$ 29.765
Issuance of common stock		$ 282,400
Underwriting Agreement, November 2024
Class of Stock [Line Items]
Sale of stock, shares issued (in shares) | shares			6,000,000
Average price (in dollars per share) | $ / shares			$ 31.01
Issuance of common stock			$ 185,300
ATM Program
Class of Stock [Line Items]
Issuance of common stock								$ 101,400
Payments of stock issuance costs								1,100
Dividends owed		$ 1,700			$ 1,700			1,700
Other transaction related costs								$ 900
ATM Program | Common Stock
Class of Stock [Line Items]
Sale of stock, shares issued (in shares) | shares								2,600,000
Sale of stock, consideration received on transaction								$ 105,100
Maximum | ATM Program
Class of Stock [Line Items]
Sale of stock, consideration received on transaction				$ 500,000

STOCKHOLDERS' EQUITY - Distribu

STOCKHOLDERS' EQUITY - Distribution of REIT Taxable Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Common dividends	$ 195,413	$ 194,144	$ 192,275
Dividends treated as taxable compensation to employees	(1,214)	(308)	(231)
Dividends in excess of current year REIT distribution requirements	(41,356)	(39,933)	0
Dividends applied to meet current year REIT distribution requirements	$ 152,843	$ 153,903	$ 192,044

STOCKHOLDERS' EQUITY - Tax stat

STOCKHOLDERS' EQUITY - Tax status of Distributions (Details) - Common Stock - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Total Distributions Per Share (in usd per share)	$ 1.280000	$ 1.280000	$ 1.270000
Non Dividend Distributions (in usd per share)	0.272580	0.263696	0
Unrecaptured Section 1250 Gain (in usd per share)	0	0	0.045470
Section 1061 One Year Amounts Disclosure (in usd per share)	0	0.008302	0.389212
Section 1061 Three Year Amounts Disclosure (in usd per share)	0	0.008302	0.389212
Ordinary Dividends
Class of Stock [Line Items]
Total Distributions Per Share (in usd per share)	1.007420	1.008002	0.880788
Long-Term Capital Gain
Class of Stock [Line Items]
Total Distributions Per Share (in usd per share)	$ 0	$ 0.008302	$ 0.389212

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended	12 Months Ended
	Feb. 28, 2025	Jun. 30, 2023	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total Revenues				$ 856,758	$ 802,874	$ 762,290
Reduction of revenue related to write-down of net assets associated with lease		$ 1,600
Subsequent Event
Disaggregation of Revenue [Line Items]
Proceeds from bankruptcy claim	$ 4,600
NS
Disaggregation of Revenue [Line Items]
Revenue recognized						3,200
Rental property revenues
Disaggregation of Revenue [Line Items]
Total Revenues				847,773	799,047	753,511
Rental property revenues | SVB Financial Group
Disaggregation of Revenue [Line Items]
Total Revenues			$ 2,300
Variable rental revenue
Disaggregation of Revenue [Line Items]
Total Revenues				241,300	226,400	212,300
Fees and other
Disaggregation of Revenue [Line Items]
Total Revenues				$ 9,000	$ 3,800	$ 8,800

REVENUE RECOGNITION - Schedule

REVENUE RECOGNITION - Schedule of Future Minimum Rentals to be Received under Existing Non-cancelable Leases (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Future minimum rents to be received, after adoption
2025	$ 608,624
2026	614,165
2027	583,548
2028	539,656
2029	486,608
Thereafter	1,919,666
Future minimum rents to be received	$ 4,752,267

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock-based Compensation Expense, Net of Forfeitures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 14,788	$ 11,962	$ 9,982
Equity Classified RSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	14,788	11,901	10,059
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	4,130	3,645	3,151
Market-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	6,885	5,042	4,073
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	2,077	1,463	1,173
Director grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1,587	1,601	1,471
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	109	150	191
Liability-classified awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	0	61	(77)
Service-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	0	61	(146)
Dividend equivalent units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 0	$ 0	$ 69

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) shares in Millions	12 Months Ended
	Dec. 31, 2024 shares
Share-Based Payment Arrangement [Abstract]
Conversion ratio	1
Shares authorized under stock option plan (in shares)	1.3

STOCK-BASED COMPENSATION - Equi

STOCK-BASED COMPENSATION - Equity-Classified Awards Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock units granted (in shares) | shares	0	0	0
Stock-based compensation expense | $	$ 14,788	$ 11,962	$ 9,982
Equity Classified RSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock units granted (in shares) | shares	498,000	399,000	242,000
Unrecognized compensation cost | $	$ 5,000
Unrecognized compensation cost, period for recognition (in years)	1 year 3 months 18 days
Fair value of restricted stock that vested | $	$ 2,700	$ 2,400	$ 2,900
Stock-based compensation expense | $	$ 14,788	$ 11,901	$ 10,059
Equity Classified RSU Awards | Independent Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock units granted (in shares) | shares	67,624	81,909	44,549
Equity Classified RSU Awards | Key Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of award types | award				3
Vesting period (in years)	3 years
Payout range minimum (as a percent)	0%
Payout range maximum (as a percent)	200%
Number of restricted stock units granted (in shares) | shares	293,887	234,902	141,899
Equity Classified RSU Awards | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years	3 years	3 years
Number of restricted stock units granted (in shares) | shares	204,004	164,221	99,758
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $	$ 7,000
Unrecognized compensation cost, period for recognition (in years)	1 year 8 months 12 days
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares) | shares	0	0	0
Stock-based compensation expense | $	$ 0	$ 0	$ 0

STOCK-BASED COMPENSATION - Eq_2

STOCK-BASED COMPENSATION - Equity-classified Awards (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Equity Classified RSU Awards
Restricted Stock and RSUs
Outstanding at beginning of period (in shares)	629,000	463,000	409,000
Granted (in shares)	498,000	399,000	242,000
Vested (in shares)	(252,000)	(225,000)	(169,000)
Forfeited (in shares)	(13,000)	(8,000)	(19,000)
Outstanding at end of period (in shares)	862,000	629,000	463,000
Weighted Average Fair Market Value at Grant
Outstanding at beginning of period (in usd per share)	$ 34.16	$ 39.91	$ 38.63
Granted (in usd per share)	28.73	29.31	43.30
Vested (in usd per share)	39.47	37.28	41.54
Forfeited (in usd per share)	31.41	37.60	41.05
Outstanding at end of period (in usd per share)	$ 29.51	$ 34.16	$ 39.91
RSUs
Restricted Stock and RSUs
Outstanding at end of period (in shares)	522,858
Restricted stock
Restricted Stock and RSUs
Outstanding at end of period (in shares)	339,479

STOCK-BASED COMPENSATION - Eq_3

STOCK-BASED COMPENSATION - Equity-classified Market-based RSUs (Details) - Equity Classified RSU Awards	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	30.50%	40.50%	37.70%
Risk-free rate	4.43%	4.35%	1.39%
Stock beta	0.0096	0.0103	0.0102

STOCK-BASED COMPENSATION - Liab

STOCK-BASED COMPENSATION - Liability-Classified Awards Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Liability-classified awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total cash paid for vesting and dividend payments		$ 1,100,000	$ 6,600,000
Service-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimate of future expense for all types of RSUs outstanding	$ 0	0
Market-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimate of future expense for all types of RSUs outstanding	0	0
Performance-based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimate of future expense for all types of RSUs outstanding	$ 0	$ 0

STOCK-BASED COMPENSATION - Empl

STOCK-BASED COMPENSATION - Employee Stock Purchase Plan (Details) $ in Thousands		12 Months Ended
	Oct. 26, 2021 USD ($)	Dec. 31, 2024 USD ($) employee shares	Dec. 31, 2023 USD ($) employee shares	Dec. 31, 2022 USD ($) employee shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense		$ 14,788	$ 11,962	$ 9,982
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense		$ 109	$ 150	$ 191
Employee Stock Purchase Plan | 2021 Stock Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum employee subscription rate	15%
Maximum employee subscription amount	$ 21,250
Purchase price discount	85%
Number of employees | employee		66	43	78
Number of shares purchased (in shares) | shares		20,292	25,441	22,909
Fair value of shares purchased		$ 644	$ 522	$ 604
Expected contributions		379	$ 444	$ 514
Total stock-based compensation expense		$ 99

RETIREMENT SAVINGS PLAN (Detail

RETIREMENT SAVINGS PLAN (Details) - USD ($) $ in Millions		12 Months Ended
	Jan. 01, 2019	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Employer contribution matching percentage	3%
Employee vesting period in the retirement saving plan	2 years
Company defined contribution plan		$ 1.1	$ 1.1	$ 1

INCOME TAXES - Statutory Federa

INCOME TAXES - Statutory Federal Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Amount
Utilization of net operating loss carryforward	$ 0	$ 174	$ 0
Benefit applicable to income (loss) from continuing operations	$ 0	$ 0	$ 0
Rate
Utilization of net operating loss carryforward	0%	(25.00%)	0%
Benefit applicable to income (loss) from continuing operations	0%	0%	0%
CTRS
Amount
Federal income tax benefit (expense)	$ 58	$ (149)	$ 85
State income tax benefit (expense)	11	(28)	16
Tax impact of capital loss carryforward	0	(28)	(29)
Tax impact of interest and other book to tax timing differences	(147)	0	0
Valuation allowance	4	1	(60)
Other	74	30	(12)
Tax expense before utilization of net operating loss carryforward	$ 0	$ (174)	$ 0
Rate
Federal income tax benefit (expense)	21%	21%	21%
State income tax benefit (expense)	4%	4%	4%
Tax impact of capital loss carryforward	0%	0%	0%
Tax impact of interest and other book to tax timing differences	(54.00%)	0%	0%
Valuation allowance	2%	0%	(15.00%)
Other	27%	0%	(10.00%)
Tax expense before utilization of net operating loss carryforward	0%	25%	0%

INCOME TAXES - Tax Effect of Si

INCOME TAXES - Tax Effect of Significant Temporary Differences (Details) - CTRS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Income Taxes [Line Items]
Income from unconsolidated joint ventures	$ 27	$ 31
Federal and state tax net operating loss carryforwards	1,388	1,462
Interest and other book tax differences	147	0
Federal and state tax capital loss carryforwards	152	152
Gross deferred tax asset	1,714	1,645
Valuation allowance	(1,714)	(1,645)
Net deferred tax asset after valuation allowance	0	0
Net deferred tax asset	$ 1,700	$ 1,600

EARNINGS PER SHARE - (Details)

EARNINGS PER SHARE - (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net income	$ 46,581	$ 83,816	$ 167,445
Net income available to common stockholders	$ 45,962	$ 82,963	$ 166,793
Denominator:
Weighted average common shares - basic (in shares)	153,413	151,714	150,113
Net income per common share — basic (in usd per share)	$ 0.30	$ 0.55	$ 1.11
Numerator:
Net income	$ 46,581	$ 83,816	$ 167,445
Net income available for common stockholders before allocation of net income attributable to noncontrolling interests in CPLP	$ 45,970	$ 82,977	$ 166,936
Denominator:
Weighted average common shares - basic (in shares)	153,413	151,714	150,113
Add:
Weighted average units of CPLP convertible into common shares (in shares)	25	25	25
Weighted average common shares - diluted (in shares)	154,015	152,040	150,419
Net income per common share — diluted (in usd per share)	$ 0.30	$ 0.55	$ 1.11
Stock Options
Add:
Potential dilutive common shares (in shares)	2	0	0
RSUs
Add:
Potential dilutive common shares (in shares)	575	301	281
CPLP
Numerator:
Net income attributable to noncontrolling interests	$ (8)	$ (14)	$ (143)
Numerator:
Net income attributable to other noncontrolling interests	(8)	(14)	(143)
Other Noncontrolling Interests
Numerator:
Net income attributable to noncontrolling interests	(611)	(839)	(509)
Numerator:
Net income attributable to other noncontrolling interests	$ (611)	$ (839)	$ (509)

CONSOLIDATED STATEMENTS OF CA_4

CONSOLIDATED STATEMENTS OF CASH FLOWS - SUPPLEMENTAL INFORMATION - Supplemental Cash Flows Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Interest paid, net of amounts capitalized	$ 107,676	$ 100,553	$ 70,087
Income taxes paid	0	0	38
Non-Cash Transactions:
Retirement of treasury stock	145,696	0	0
Common stock dividends declared and accrued	55,091	49,384	48,525
Tenant improvements recorded in deferred income	115,838	60,568	80,369
Accrued capital expenditures included in accounts payable and accrued expenses	$ 125,791	$ 124,337	$ 108,497

REPORTABLE SEGMENTS - Segment R

REPORTABLE SEGMENTS - Segment Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total Revenues	$ 856,758	$ 802,874	$ 762,290
Rental property operating expenses	280,661	266,434	258,371
Total Net Operating Income	570,324	531,094	502,200
Operating Segments
Segment Reporting Information [Line Items]
Rental property operating expenses	286,113	269,571	263,783
Total Net Operating Income	570,324	531,094	502,200
Operating Segments | Office
Segment Reporting Information [Line Items]
Rental property operating expenses	281,789	266,259	260,082
Total Net Operating Income	565,147	525,385	495,147
Operating Segments | Office | Atlanta
Segment Reporting Information [Line Items]
Rental property operating expenses	109,534	101,950	92,678
Total Net Operating Income	200,273	193,305	184,609
Operating Segments | Office | Austin
Segment Reporting Information [Line Items]
Rental property operating expenses	95,901	89,580	96,984
Total Net Operating Income	191,758	170,103	152,806
Operating Segments | Office | Tampa
Segment Reporting Information [Line Items]
Rental property operating expenses	27,855	27,880	25,803
Total Net Operating Income	49,383	46,933	45,188
Operating Segments | Office | Phoenix
Segment Reporting Information [Line Items]
Rental property operating expenses	15,801	16,363	14,869
Total Net Operating Income	44,596	44,177	41,544
Operating Segments | Office | Charlotte
Segment Reporting Information [Line Items]
Rental property operating expenses	16,844	15,224	14,096
Total Net Operating Income	42,164	43,124	41,234
Operating Segments | Office | Dallas
Segment Reporting Information [Line Items]
Rental property operating expenses	3,746	3,850	3,846
Total Net Operating Income	13,937	13,074	12,890
Operating Segments | Office | Other markets
Segment Reporting Information [Line Items]
Rental property operating expenses	12,108	11,412	11,806
Total Net Operating Income	23,036	14,669	16,876
Operating Segments | Non-Office
Segment Reporting Information [Line Items]
Rental property operating expenses	4,324	3,312	3,701
Total Net Operating Income	5,177	5,709	7,053
Segment Reconciling Items
Segment Reporting Information [Line Items]
Rental property operating expenses	(5,452)	(3,137)	(5,412)
Rental property revenues
Segment Reporting Information [Line Items]
Total Revenues	847,773	799,047	753,511
Rental property revenues | Operating Segments
Segment Reporting Information [Line Items]
Total Revenues	856,437	800,665	765,983
Rental property revenues | Operating Segments | Office
Segment Reporting Information [Line Items]
Total Revenues	846,936	791,644	755,229
Rental property revenues | Operating Segments | Office | Atlanta
Segment Reporting Information [Line Items]
Total Revenues	309,807	295,255	277,287
Rental property revenues | Operating Segments | Office | Austin
Segment Reporting Information [Line Items]
Total Revenues	287,659	259,683	249,790
Rental property revenues | Operating Segments | Office | Tampa
Segment Reporting Information [Line Items]
Total Revenues	77,238	74,813	70,991
Rental property revenues | Operating Segments | Office | Phoenix
Segment Reporting Information [Line Items]
Total Revenues	60,397	60,540	56,413
Rental property revenues | Operating Segments | Office | Charlotte
Segment Reporting Information [Line Items]
Total Revenues	59,008	58,348	55,330
Rental property revenues | Operating Segments | Office | Dallas
Segment Reporting Information [Line Items]
Total Revenues	17,683	16,924	16,736
Rental property revenues | Operating Segments | Office | Other markets
Segment Reporting Information [Line Items]
Total Revenues	35,144	26,081	28,682
Rental property revenues | Operating Segments | Non-Office
Segment Reporting Information [Line Items]
Total Revenues	9,501	9,021	10,754
Rental property revenues | Segment Reconciling Items
Segment Reporting Information [Line Items]
Total Revenues	(12,069)	(8,961)	(14,936)
Termination fee income
Segment Reporting Information [Line Items]
Total Revenues	$ 3,405	$ 7,343	$ 2,464

REPORTABLE SEGMENTS - Reconcili

REPORTABLE SEGMENTS - Reconciliation of Net Income to Net Operating Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net income	$ 46,581	$ 83,816	$ 167,445
Total Revenues	(856,758)	(802,874)	(762,290)
General and administrative expenses	36,566	32,331	28,319
Interest expense	122,476	105,463	72,537
Depreciation and amortization	365,045	314,897	295,587
Reimbursed expenses	634	608	2,024
Other expenses	2,097	2,128	2,134
Loss (income) from unconsolidated joint ventures	2,796	(2,299)	(7,700)
Net operating income from unconsolidated joint ventures	6,617	5,824	9,524
Gain on sales of investments in unconsolidated joint ventures	0	0	(56,267)
Loss (gain) on investment property transactions	(98)	(504)	9
Gain on extinguishment of debt	0	0	(169)
Net Operating Income	570,324	531,094	502,200
Fee income
Segment Reporting Information [Line Items]
Total Revenues	(1,761)	(1,373)	(6,119)
Termination fee income
Segment Reporting Information [Line Items]
Total Revenues	(3,405)	(7,343)	(2,464)
Other income
Segment Reporting Information [Line Items]
Total Revenues	$ (7,224)	$ (2,454)	$ (2,660)

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation - Schedule of Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 447,882
Initial Cost to Company
Land and Improvements	913,392
Buildings and Improvements	6,067,261
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	44,689
Building and Improvements less Cost of Sales, Transfers and Other	2,542,232
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	958,081
Building and Improvements less Cost of Sales, Transfers and Other	8,609,493
Total	9,567,574
Accumulated Depreciation	1,627,251	$ 1,329,406	$ 1,079,662	$ 874,988
OPERATING PROPERTIES
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	447,882
Initial Cost to Company
Land and Improvements	758,728
Buildings and Improvements	6,067,261
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	44,627
Building and Improvements less Cost of Sales, Transfers and Other	2,542,232
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	803,355
Building and Improvements less Cost of Sales, Transfers and Other	8,609,493
Total	9,412,848
Accumulated Depreciation	1,627,251
OPERATING PROPERTIES | Miscellaneous Investments
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	15,318
Buildings and Improvements	69,780
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	33
Building and Improvements less Cost of Sales, Transfers and Other	2,486
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	15,351
Building and Improvements less Cost of Sales, Transfers and Other	72,266
Total	87,617
Accumulated Depreciation	8,598
OPERATING PROPERTIES | Austin, TX | The Domain
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	81,876
Buildings and Improvements	755,143
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	8,129
Building and Improvements less Cost of Sales, Transfers and Other	454,539
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	90,005
Building and Improvements less Cost of Sales, Transfers and Other	1,209,682
Total	1,299,687
Accumulated Depreciation	$ 199,744
OPERATING PROPERTIES | Austin, TX | The Domain | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Austin, TX | The Domain | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Austin, TX | Sail Tower
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	64,301
Buildings and Improvements	514,276
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	64,301
Building and Improvements less Cost of Sales, Transfers and Other	514,276
Total	578,577
Accumulated Depreciation	$ 700
OPERATING PROPERTIES | Austin, TX | Sail Tower | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Austin, TX | Sail Tower | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Austin, TX | 300 Colorado
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	18,354
Buildings and Improvements	278,905
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(49)
Building and Improvements less Cost of Sales, Transfers and Other	83,363
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	18,305
Building and Improvements less Cost of Sales, Transfers and Other	362,268
Total	380,573
Accumulated Depreciation	$ 31,022
OPERATING PROPERTIES | Austin, TX | 300 Colorado | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Austin, TX | 300 Colorado | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Austin, TX | The Terrace
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	27,360
Buildings and Improvements	247,226
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	42,754
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	27,360
Building and Improvements less Cost of Sales, Transfers and Other	289,980
Total	317,340
Accumulated Depreciation	$ 50,328
OPERATING PROPERTIES | Austin, TX | The Terrace | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Austin, TX | The Terrace | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Austin, TX | One Eleven Congress
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	33,841
Buildings and Improvements	201,707
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	62,174
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	33,841
Building and Improvements less Cost of Sales, Transfers and Other	263,881
Total	297,722
Accumulated Depreciation	$ 62,864
OPERATING PROPERTIES | Austin, TX | One Eleven Congress | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Austin, TX | One Eleven Congress | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Austin, TX | San Jacinto Center
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	34,068
Buildings and Improvements	176,535
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(579)
Building and Improvements less Cost of Sales, Transfers and Other	50,180
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	33,489
Building and Improvements less Cost of Sales, Transfers and Other	226,715
Total	260,204
Accumulated Depreciation	$ 50,209
OPERATING PROPERTIES | Austin, TX | San Jacinto Center | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Austin, TX | San Jacinto Center | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Austin, TX | Colorado Tower
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 104,080
Initial Cost to Company
Land and Improvements	1,600
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	20,525
Building and Improvements less Cost of Sales, Transfers and Other	133,012
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	22,125
Building and Improvements less Cost of Sales, Transfers and Other	133,012
Total	155,137
Accumulated Depreciation	$ 53,786
OPERATING PROPERTIES | Austin, TX | Colorado Tower | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Austin, TX | Colorado Tower | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	30 years
OPERATING PROPERTIES | Austin, TX | Domain Point
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	17,349
Buildings and Improvements	71,599
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	13,647
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	17,349
Building and Improvements less Cost of Sales, Transfers and Other	85,246
Total	102,595
Accumulated Depreciation	$ 19,776
OPERATING PROPERTIES | Austin, TX | Domain Point | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Austin, TX | Domain Point | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Austin, TX | Research Park V
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	4,373
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	801
Building and Improvements less Cost of Sales, Transfers and Other	43,945
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	5,174
Building and Improvements less Cost of Sales, Transfers and Other	43,945
Total	49,119
Accumulated Depreciation	16,976
OPERATING PROPERTIES | Atlanta, GA | Terminus
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	221,000
Initial Cost to Company
Land and Improvements	49,050
Buildings and Improvements	410,826
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	61,628
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	49,050
Building and Improvements less Cost of Sales, Transfers and Other	472,454
Total	521,504
Accumulated Depreciation	83,879
OPERATING PROPERTIES | Atlanta, GA | Northpark Town Center
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	22,350
Buildings and Improvements	295,825
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	78,842
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	22,350
Building and Improvements less Cost of Sales, Transfers and Other	374,667
Total	397,017
Accumulated Depreciation	$ 120,021
OPERATING PROPERTIES | Atlanta, GA | Northpark Town Center | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Atlanta, GA | Northpark Town Center | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | Buckhead Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	35,064
Buildings and Improvements	234,111
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	81,210
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	35,064
Building and Improvements less Cost of Sales, Transfers and Other	315,321
Total	350,385
Accumulated Depreciation	$ 70,591
OPERATING PROPERTIES | Atlanta, GA | Buckhead Plaza | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Atlanta, GA | Buckhead Plaza | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | Spring & 8th
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	28,131
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	426
Building and Improvements less Cost of Sales, Transfers and Other	301,791
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	28,557
Building and Improvements less Cost of Sales, Transfers and Other	301,791
Total	330,348
Accumulated Depreciation	$ 73,571
OPERATING PROPERTIES | Atlanta, GA | Spring & 8th | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Atlanta, GA | Spring & 8th | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | 725 Ponce
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	20,720
Buildings and Improvements	272,226
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	14,817
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	20,720
Building and Improvements less Cost of Sales, Transfers and Other	287,043
Total	307,763
Accumulated Depreciation	$ 30,202
OPERATING PROPERTIES | Atlanta, GA | 725 Ponce | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Atlanta, GA | 725 Ponce | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | 3344 Peachtree
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	16,110
Buildings and Improvements	176,153
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	42,804
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	16,110
Building and Improvements less Cost of Sales, Transfers and Other	218,957
Total	235,067
Accumulated Depreciation	$ 57,415
OPERATING PROPERTIES | Atlanta, GA | 3344 Peachtree | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Atlanta, GA | 3344 Peachtree | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | Promenade Tower
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	13,439
Buildings and Improvements	102,790
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	114,789
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	13,439
Building and Improvements less Cost of Sales, Transfers and Other	217,579
Total	231,018
Accumulated Depreciation	$ 71,888
OPERATING PROPERTIES | Atlanta, GA | Promenade Tower | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Atlanta, GA | Promenade Tower | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	34 years
OPERATING PROPERTIES | Atlanta, GA | 3350 Peachtree
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	16,836
Buildings and Improvements	108,177
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	69,679
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	16,836
Building and Improvements less Cost of Sales, Transfers and Other	177,856
Total	194,692
Accumulated Depreciation	$ 31,341
OPERATING PROPERTIES | Atlanta, GA | 3350 Peachtree | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Atlanta, GA | 3350 Peachtree | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | Promenade Central
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	19,495
Buildings and Improvements	62,836
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	106,878
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	19,495
Building and Improvements less Cost of Sales, Transfers and Other	169,714
Total	189,209
Accumulated Depreciation	$ 16,534
OPERATING PROPERTIES | Atlanta, GA | Promenade Central | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Atlanta, GA | Promenade Central | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | Avalon
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	9,952
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	73
Building and Improvements less Cost of Sales, Transfers and Other	175,935
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	10,025
Building and Improvements less Cost of Sales, Transfers and Other	175,935
Total	185,960
Accumulated Depreciation	$ 36,751
OPERATING PROPERTIES | Atlanta, GA | Avalon | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Atlanta, GA | Avalon | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | 3348 Peachtree
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	6,707
Buildings and Improvements	69,723
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	8,418
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	6,707
Building and Improvements less Cost of Sales, Transfers and Other	78,141
Total	84,848
Accumulated Depreciation	$ 19,924
OPERATING PROPERTIES | Atlanta, GA | 3348 Peachtree | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Atlanta, GA | 3348 Peachtree | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Atlanta, GA | Meridian Mark Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	2,219
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	25,717
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	2,219
Building and Improvements less Cost of Sales, Transfers and Other	25,717
Total	27,936
Accumulated Depreciation	18,704
OPERATING PROPERTIES | Tampa, FL | Corporate Center
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	2,468
Buildings and Improvements	272,148
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	15,642
Building and Improvements less Cost of Sales, Transfers and Other	76,537
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	18,110
Building and Improvements less Cost of Sales, Transfers and Other	348,685
Total	366,795
Accumulated Depreciation	$ 97,023
OPERATING PROPERTIES | Tampa, FL | Corporate Center | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Tampa, FL | Corporate Center | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	39 years
OPERATING PROPERTIES | Tampa, FL | Heights Union
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	9,545
Buildings and Improvements	123,944
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	21,332
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	9,545
Building and Improvements less Cost of Sales, Transfers and Other	145,276
Total	154,821
Accumulated Depreciation	$ 17,411
OPERATING PROPERTIES | Tampa, FL | Heights Union | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Tampa, FL | Heights Union | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Tampa, FL | The Pointe
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	9,404
Buildings and Improvements	54,694
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	15,594
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	9,404
Building and Improvements less Cost of Sales, Transfers and Other	70,288
Total	79,692
Accumulated Depreciation	$ 17,295
OPERATING PROPERTIES | Tampa, FL | The Pointe | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Tampa, FL | The Pointe | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Tampa, FL | Harborview Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	10,800
Buildings and Improvements	39,136
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	12,913
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	10,800
Building and Improvements less Cost of Sales, Transfers and Other	52,049
Total	62,849
Accumulated Depreciation	$ 15,193
OPERATING PROPERTIES | Tampa, FL | Harborview Plaza | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Tampa, FL | Harborview Plaza | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Houston, TX | Briarlake Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	33,486
Buildings and Improvements	196,915
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	106,066
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	33,486
Building and Improvements less Cost of Sales, Transfers and Other	302,981
Total	336,467
Accumulated Depreciation	$ 47,601
OPERATING PROPERTIES | Houston, TX | Briarlake Plaza | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Houston, TX | Briarlake Plaza | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Phoenix, AZ | Hayden Ferry
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	13,102
Buildings and Improvements	262,578
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(252)
Building and Improvements less Cost of Sales, Transfers and Other	59,272
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	12,850
Building and Improvements less Cost of Sales, Transfers and Other	321,850
Total	334,700
Accumulated Depreciation	$ 68,825
OPERATING PROPERTIES | Phoenix, AZ | Hayden Ferry | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Phoenix, AZ | Hayden Ferry | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Phoenix, AZ | 100 Mill
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	13,156
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	5
Building and Improvements less Cost of Sales, Transfers and Other	175,314
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	13,161
Building and Improvements less Cost of Sales, Transfers and Other	175,314
Total	188,475
Accumulated Depreciation	$ 21,840
OPERATING PROPERTIES | Phoenix, AZ | 100 Mill | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Phoenix, AZ | 100 Mill | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Phoenix, AZ | Tempe Gateway
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	5,893
Buildings and Improvements	95,130
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	33,845
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	5,893
Building and Improvements less Cost of Sales, Transfers and Other	128,975
Total	134,868
Accumulated Depreciation	$ 25,164
OPERATING PROPERTIES | Phoenix, AZ | Tempe Gateway | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Phoenix, AZ | Tempe Gateway | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Phoenix, AZ | 111 West Rio
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	6,076
Buildings and Improvements	56,647
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(127)
Building and Improvements less Cost of Sales, Transfers and Other	19,115
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	5,949
Building and Improvements less Cost of Sales, Transfers and Other	75,762
Total	81,711
Accumulated Depreciation	$ 23,540
OPERATING PROPERTIES | Phoenix, AZ | 111 West Rio | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Phoenix, AZ | 111 West Rio | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Charlotte, NC | Vantage South End
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	49,723
Buildings and Improvements	249,581
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	11
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	49,723
Building and Improvements less Cost of Sales, Transfers and Other	249,592
Total	299,315
Accumulated Depreciation	861
OPERATING PROPERTIES | Charlotte, NC | Fifth Third Center
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	122,802
Initial Cost to Company
Land and Improvements	22,591
Buildings and Improvements	180,430
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	31,237
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	22,591
Building and Improvements less Cost of Sales, Transfers and Other	211,667
Total	234,258
Accumulated Depreciation	$ 70,560
OPERATING PROPERTIES | Charlotte, NC | Fifth Third Center | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Charlotte, NC | Fifth Third Center | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Charlotte, NC | The RailYard
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	22,831
Buildings and Improvements	178,323
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	1,938
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	22,831
Building and Improvements less Cost of Sales, Transfers and Other	180,261
Total	203,092
Accumulated Depreciation	$ 24,822
OPERATING PROPERTIES | Charlotte, NC | The RailYard | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Charlotte, NC | The RailYard | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Charlotte, NC | 550 South
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	51
Buildings and Improvements	115,238
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	7,939
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	51
Building and Improvements less Cost of Sales, Transfers and Other	123,177
Total	123,228
Accumulated Depreciation	$ 31,445
OPERATING PROPERTIES | Charlotte, NC | 550 South | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Charlotte, NC | 550 South | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Dallas, TX | Legacy Union One
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	13,049
Buildings and Improvements	128,740
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	231
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	13,049
Building and Improvements less Cost of Sales, Transfers and Other	128,971
Total	142,020
Accumulated Depreciation	$ 27,214
OPERATING PROPERTIES | Dallas, TX | Legacy Union One | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Dallas, TX | Legacy Union One | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
OPERATING PROPERTIES | Dallas, TX | 5950 Sherry Lane
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	8,040
Buildings and Improvements	65,919
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	12,280
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	8,040
Building and Improvements less Cost of Sales, Transfers and Other	78,199
Total	86,239
Accumulated Depreciation	$ 13,633
OPERATING PROPERTIES | Dallas, TX | 5950 Sherry Lane | Minimum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	5 years
OPERATING PROPERTIES | Dallas, TX | 5950 Sherry Lane | Maximum
Gross Amount at Which Carried  at Close of Period
Life on Which Depreciation in Statement of Operations is Computed	40 years
LAND
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost to Company
Land and Improvements	154,664
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	62
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	154,726
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	154,726
Accumulated Depreciation	0
LAND | Austin, TX | Domain Central
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	21,000
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	21,000
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	21,000
Accumulated Depreciation	0
LAND | Austin, TX | Domain Point 3
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	11,018
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	11,018
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	11,018
Accumulated Depreciation	0
LAND | Atlanta, GA | 887 West Peachtree
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	26,312
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	26,312
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	26,312
Accumulated Depreciation	0
LAND | Atlanta, GA | 3354/3356 Peachtree
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	21,509
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	21,509
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	21,509
Accumulated Depreciation	0
LAND | Tampa, FL | Corporate Center
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	5,188
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	(13)
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	5,175
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	5,175
Accumulated Depreciation	0
LAND | Charlotte, NC | South End Station
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	28,134
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	28,134
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	28,134
Accumulated Depreciation	0
LAND | Charlotte, NC | 303 Tremont
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	18,779
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	75
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	18,854
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	18,854
Accumulated Depreciation	0
LAND | Dallas, TX | Legacy Union 2 & 3
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost to Company
Land and Improvements	22,724
Buildings and Improvements	0
Costs Capitalized Subsequent to Acquisition
Land and Improvements less Cost of Sales, Transfers and Other	0
Building and Improvements less Cost of Sales, Transfers and Other	0
Gross Amount at Which Carried  at Close of Period
Land and Improvements less Cost of Sales, Transfers and Other	22,724
Building and Improvements less Cost of Sales, Transfers and Other	0
Total	22,724
Accumulated Depreciation	$ 0

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Notes to Schedule III (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Real Estate
Balance at beginning of period	$ 8,392,111	$ 8,087,846	$ 7,714,382
Additions during the period:
Acquisitions	877,881	0	0
Improvements and other capitalized costs	345,775	350,654	436,201
Total Additions	1,223,656	350,654	436,201
Deductions during the period:
Cost of real estate sold	0	(3,700)	0
Amortization of right-of-use ground lease assets	(300)	0	0
Write off of fully depreciated assets	(47,893)	(42,689)	(62,737)
Total Deductions	(48,193)	(46,389)	(62,737)
Balance at end of period	9,567,574	8,392,111	8,087,846
Accumulated Depreciation
Balance at beginning of period	1,329,406	1,079,662	874,988
Additions during the period:
Depreciation expense	345,738	292,433	267,411
Total Additions	345,738	292,433	267,411
Deductions during the period:
Cost of real estate sold	0	0	0
Write off of fully depreciated assets	(47,893)	(42,689)	(62,737)
Total Deductions	(47,893)	(42,689)	(62,737)
Balance at end of period before impairment charges	1,627,251	$ 1,329,406	$ 1,079,662
Aggregate cost for federal income tax, net of depreciation	$ 6,600,000
Buildings and Improvements | Minimum
Deductions during the period:
Useful life	30 years
Buildings and Improvements | Maximum
Deductions during the period:
Useful life	40 years