INVESTMENT IN UNCONSOLIDATED JOINT VENTURES

The Company describes its investments in unconsolidated joint ventures in note 5 of notes to consolidated financial statements in its Annual Report on Form 10-K for the year ended December 31, 2012. The following table summarizes balance sheet data of the Company's unconsolidated joint ventures as of September 30, 2013 and December 31, 2012 (in thousands):



	Total Assets				Total Debt				Total Equity						Company’s Investment
SUMMARY OF FINANCIAL POSITION:	2013		2012		2013		2012		2013			2012			2013				2012
Terminus Office Holdings LLC (1)	$	300,683	$	—	$	216,497	$	—	$	70,056		$	—		$	35,923			$	—
EP I LLC	88,382		83,235		56,313		43,515		30,249			32,611			26,079				27,864
Cousins Watkins LLC	53,211		54,285		27,852		28,244		23,857			25,259			17,209				16,692
Charlotte Gateway Village, LLC	138,852		140,384		56,462		68,242		79,913			70,917			11,260				10,299
Temco Associates, LLC	8,576		8,409		—		—		8,267			8,233			4,083				4,095
CL Realty, L.L.C.	7,353		7,549		—		—		7,147			7,155			3,571				3,579
CF Murfreesboro Associates	—		121,451		—		94,540		—			25,411			—				14,571
CP Venture Five LLC	—		286,647		—		35,417		—			243,563			—				13,884
MSREF/ Cousins Terminus 200 LLC (1)	—		95,520		—		74,340		—			19,659			—				3,930
CP Venture Two LLC	—		96,345		—		—		—			94,819			—				2,894
Wildwood Associates	21,096		21,176		—		—		21,096			21,173			(1,727		)	*	(1,664		)	*
Crawford Long - CPI, LLC	33,762		32,818		75,000		46,496		(42,080		)	(15,129		)	(19,959		)	*	(6,407		)	*
Other	1,913		2,194		—		—		1,630			1,844			58				60
	$	653,828	$	950,013	$	432,124	$	390,794	$	200,135		$	535,515		$	76,497			$	89,797

*Negative balances are included in deferred income on the balance sheets.

(1) See note 7 for further discussion of the transactions affecting these entities.

The following table summarizes statement of operations information of the Company's unconsolidated joint ventures for the nine months ended September 30, 2013 and 2012 (in thousands):



	Total Revenues				Net Income (Loss)						Company's Share of Income (Loss)
SUMMARY OF OPERATIONS:	2013		2012		2013			2012			2013			2012
Terminus Office Holdings LLC (1)	$	23,842	$	—	$	(219	)	$	—		$	(110	)	$	—
EP I LLC	5,499		306		(348		)	(53		)	(261		)	(39		)
Cousins Watkins LLC	4,297		4,365		16			24			1,738			1,810
Charlotte Gateway Village, LLC	25,079		24,821		7,931			7,189			882			882
Temco Associates, LLC	437		560		48			(141		)	(12		)	(275		)
CL Realty, L.L.C.	1,246		2,294		801			840			392			105
CF Murfreesboro Associates	8,079		9,920		48,969			316			23,562			(46		)
CP Venture Five LLC	20,192		22,558		3,056			2,814			17,146			778
MSREF/ Cousins Terminus 200 LLC (1)	1,268		9,242		(172		)	(727		)	(28		)	(146		)
CP Venture Two LLC	12,965		14,535		7,035			7,280			21,592			752
Wildwood Associates	—		—		(126		)	(127		)	(63		)	(63		)
Crawford Long - CPI, LLC	8,826		8,697		2,134			1,908			1,028			950
Palisades West LLC	—		12,566		(27		)	4,350			—			2,083
Ten Peachtree Place Associates	—		2,488		—			20,938			—			7,852
Other	1,273		1,269		(348		)	(121		)	(4		)	(426		)
	$	113,003	$	113,621	$	68,750		$	44,490		$	65,862		$	14,217

(1) See note 7 for further discussion of the transactions affecting these entities.

In the third quarter of 2013, the Company sold to its partner its interest in CP Venture Two LLC for $23.3 million and its interest in CP Venture Five LLC for $30.0 million. The Company recorded gains on these transactions totaling $37.0 million, which are included in income from unconsolidated joint ventures on the statement of operations.

In the third quarter of 2013, CF Murfreesboro Associates sold The Avenue Murfreesboro, the venture's only asset. The Company received a distribution of $33.8 million from the sale and the Company recognized a gain of $23.5 million, which is included in income from unconsolidated joint ventures on the statement of operations.

In the second quarter of 2013, Crawford Long-CPI, LLC refinanced its mortgage debt which was scheduled to mature in June 2013. The new loan, a $75 million 3.5% fixed rate mortgage note, matures in 2023. Upon closing of the new mortgage note, the Company received a distribution of $14.3 million from the joint venture as a result of the financing.

In October 2013, the Company formed EP II LLC, an unconsolidated joint venture for the purpose of developing and operating the second phase of the Emory Point mixed-use property in Atlanta, Georgia. The second phase will consist of 307 apartments and 43,000 square feet of retail space with a total projected cost of $73.3 million.